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Joe BidenCongratulations to our presumptive Democratic nominee, Joe Biden!

Response to ancianita (Reply #15)

Sun Feb 23, 2020, 04:52 PM

17. Er, they are both paid into. It would help if you knew the facts.

 

https://www.irs.gov/taxtopics/tc751

Now, who were you saying doesnít understand?

Just to be clear: both employee and employee pay into SS and Medicare. SS is currently 6.2% and Medicare is 1.5%, for a total payroll deduction of 7.7% each, or 15.4% for both.

Now, add 6% on each side of that current total (based on the premise that five-fold increase in MFA patients would mean a five-fold increase in the Medicare withholding tax): employees and employers would be taxed 7.5% for Medicare and 6.2% for SS, or a total payroll withholding of 13.7% on each side, or 27.4% total. And thatís in addition to income tax withholding.
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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EveHammond13 Feb 2020 OP
ancianita Feb 2020 #1
George II Feb 2020 #2
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LineLineLineLineLineLineReply Er, they are both paid into. It would help if you knew the facts.
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ancianita Feb 2020 #25
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