Self-employer workers pay twice as much for Social Security coverage compared to employed workers.

Name: Self-employer workers pay twice as much for Social Security coverage compared to employed workers.
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Question

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Self-employed workers are responsible for paying both the employer and employee portions of Social Security taxes, which currently amounts to a total of 12.4% of their earnings. In contrast, employed workers only pay half of this amount, as their employer is responsible for paying the other half.

Self-Employer Workers Pay Twice as Much for Social Security Coverage