I received word today that the Social Security wage base (the amount of taxable wages earned per individual that is subject to social security tax each year) has been lowered – a whopping $300! What?!?!?
Why would they make a change of $300 from $128,700 to $128,400? Is this for real? I have conversations with my children like “pick your battles” “is this worth arguing over” “will this matter in 5 years” “does what you’re doing make sense” etc. I am thinking I ought to have the same conversation with the “Powers That Be.”
In the big scheme of things, I am sure this is not a big deal, except that every payroll software must be updated and every payroll specialist must memorize a new amount. Each company that pays its employees over $128,400 will save up to $18.60 per employee and those employees likewise will save up to $18.60 per year.
I also discovered today that my little, local chocolate shop is out of sponge candy (angel food candy). Again, what?!?!? I NEED this for St. Nicholas Day next week.
Let’s see, IF I DID make $128,700 – I could actually purchase an additional 5 pounds of angel food candy next year, provided the store doesn’t run out. Sometimes one just has to shake their head and wonder…