naturegirl
Gold Member
The 7.65% is a tax on income. That's why they multiply your income b y 7.65% to figure out how much you owe - unless you make more than 106K, in which case your capped.
I calculated your daughters tax payment based on the IRS tax tables.
The withholding rate is set by the employee- you can tell your employer how much to withhold by the number of exemptions and any additional amount you want withheld.
What you actually owe is a completely different story.
whereas FICA is a tax, it is not deemed a tax for purposes in this debate.
Read that again, Jarhead - and ask yourself if perhaps the problem here is people denying the obvious: That a tax on earned income is an earned income tax, no matter what name you chose to apply to it.
Others may attempt to find a distinction between an income tax and a tax on income, but that's just buying into the DC speak.
I cannot believe you can be so dense. This is the problem with lefties, they get something in their head and they can't even see the truth. The 7.65% is NOT INCOME TAX, it's FICA=SOCIAL SECURITY AND MEDICARE. You have to pay 7.65% of your earnings even if you never pay a dime into INCOME TAX. They are two separate and distinct taxes. THE 7.65% is IN ADDITION to what ever your INCOME TAX is.
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