2007-06-07 11:23:41 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
The tax rates vary from 10% to 35%, based upon your income. The amount withheld from your pay will vary depending upon your gross pay for the pay period and your withholding exemptions. They will also withhold 7.65% for FICA on the first $97,500 per year (for 2007) and 1.45% for all income above that.
Go here for some handy estimators: http://www.paycheckcity.com
2007-06-07 13:04:42 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
If we repealed the 16th Amendment, this country would regress into anarcho-capitalism. Every government program, including federal highway funding, would have to become privatized. There are programs within the government that can not fair well under a private market, such as highway funding, or park preservation. If we as a nation do not collectively participate in federal programs, then we will see an oligarchy of private control. An oligarchy, much like a monopoly, only serves to unfairly control us, and drain our economy. You will never get the 16th Amendment repealed, ever. If it's anarcho-capitalism that you want, then it is anarcho-capitalism you should promote. America should never become a police state, nor should it ever become a militia run state.
2016-05-19 03:29:56 · answer #2 · answered by Anonymous · 0⤊ 0⤋
we are on a progressive tax system - the more you make a greater percentage the gov't takes. The rates are between 5%-36.5% (i think).
2007-06-07 11:32:03 · answer #3 · answered by the_hilton 4 · 0⤊ 0⤋
Social Security 6.2%
Medicare 1.45%
Federal-depends on your filing status and how many dependents are you claiming.
2007-06-07 11:26:33 · answer #4 · answered by Anonymous · 0⤊ 0⤋
go to www.irs.gov/individuals
click on IRS withholding calculator for your personal situation.
2007-06-07 11:32:41 · answer #5 · answered by wildatheart 3 · 1⤊ 0⤋