Real talk from a middle school finance field trip:
The median American pays nearly the SAME amount in Social Security/Medicare payroll taxes as they do in federal income taxes.
Most people don't even realize this. They see "income tax" and think that's the big hit. Meanwhile payroll tax is quietly eating the same chunk.
This is why people feel broke even when they "make decent money." The system takes twice before you even see your paycheck.
If you're not building alternate income streams (crypto, side hustles, passive income), you're getting double-taxed into oblivion while your purchasing power gets inflated away.
Wake up. Opt out where you can.
The median American pays nearly the SAME amount in Social Security/Medicare payroll taxes as they do in federal income taxes.
Most people don't even realize this. They see "income tax" and think that's the big hit. Meanwhile payroll tax is quietly eating the same chunk.
This is why people feel broke even when they "make decent money." The system takes twice before you even see your paycheck.
If you're not building alternate income streams (crypto, side hustles, passive income), you're getting double-taxed into oblivion while your purchasing power gets inflated away.
Wake up. Opt out where you can.