- Sep 19, 2011
- 28,549
- 10,097
- 900
First take a look at this chart from ADP the payroll processing firm that ...pays 26 million (1 in 6) workers in U.S., and 13 million elsewhere
https://www.adp.com/~/media/Corporate Overview/ADP-Corporate-Overview.ashx
Job growth 'rip-roaring' in May on boom in construction, services: ADP
What most people don't realize is more people become employed three Federal tax revenue increase:
1) Personal income tax
2) Employee SS/Medicare payments...
3) And the one tax MOST Americans don't seem to know.. THE EMPLOYER matches the Employee's
SS/Medicare payments.
So at average annual salary of say $40,000
source:https://www.usnews.com/news/article...ng-salaries-on-the-rise-for-college-graduates
Just during Trump's Presidency 2/17 to 5/17 over 931,000 new hires per the above.
Therefore just in these 3 tax sources additional tax revenue from:
1) income tax: $10,000 2) Employee SS/Medicare: $2,480 3) Employer: SS/Medicare $2,480
Total tax revenue almost $15,000
With 931,000 hires at $15,000 in tax revenue: nearly $14 Billion more in revenue just from 4 months in new hires!
This was why Trump keeps pounding for MORE JOBS!
https://www.adp.com/~/media/Corporate Overview/ADP-Corporate-Overview.ashx
Job growth 'rip-roaring' in May on boom in construction, services: ADP
What most people don't realize is more people become employed three Federal tax revenue increase:
1) Personal income tax
2) Employee SS/Medicare payments...
3) And the one tax MOST Americans don't seem to know.. THE EMPLOYER matches the Employee's
SS/Medicare payments.
So at average annual salary of say $40,000
source:https://www.usnews.com/news/article...ng-salaries-on-the-rise-for-college-graduates
Just during Trump's Presidency 2/17 to 5/17 over 931,000 new hires per the above.
Therefore just in these 3 tax sources additional tax revenue from:
1) income tax: $10,000 2) Employee SS/Medicare: $2,480 3) Employer: SS/Medicare $2,480
Total tax revenue almost $15,000
With 931,000 hires at $15,000 in tax revenue: nearly $14 Billion more in revenue just from 4 months in new hires!
This was why Trump keeps pounding for MORE JOBS!