Someone asked me this question in class today, I was wondering if anyone could elaborate on this? Thanks
2006-12-04 08:42:20 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
fica is the "payroll tax" you will hear politicians talk about. it is unfair and regressive,sexist and racist. This unjust portion of the tax code should be replaces,allong with many other taxes,by the FAIRTAX
read about the Fairtax:
www.fairtax.org
Once it is read anyone under 40 would support it.
2006-12-04 10:27:16 · answer #1 · answered by charles b 3 · 1⤊ 1⤋
charles b: How is the 'payroll tax' racist or sexist? Other than those characterizations, I agree with your answer, including the FairTax.
2006-12-04 11:09:57 · answer #2 · answered by STEVEN F 7 · 1⤊ 0⤋
no relation except that when payroll is calculated, individuals must pay their SS and Medicare tax before check is issued
2006-12-04 09:16:11 · answer #3 · answered by 3eleven 4 · 0⤊ 1⤋
If we are self employed, we are on the hook for 15% + of gross income. If we have an employer and they issue W-2's, the employer pays half and we pay half.
Swez
2006-12-04 09:18:27 · answer #4 · answered by swez 1 · 0⤊ 1⤋
Check this link for the figures:
http://www.justfacts.com/socialsecurity.htm#Taxes
2006-12-04 08:50:31 · answer #5 · answered by Yahzmin ♥♥ 4ever 7 · 0⤊ 1⤋