“FICA and Medicare taxes are income taxes,”
That’s a ludicrous assertion.
Both are capped.
i remember my boss use to brag that his fica was capped and that my salary would never get caught up to him. He was right that I never did.
“FICA and Medicare taxes are income taxes,”
That’s a ludicrous assertion.
Both are capped.
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bullkrap. Go look up the definition of “ludicrous”
They are taxes on EARNED INCOME.
and there is NO CAP on Medicare tax. 2.9% Medicare tax for all earned income. So a million dollar W-2 earner pays $14,500 of Medicare tax (after capping out on the SS portion) and employer matches it.
Been waiting for years to see when they crack down on S-corp payroll tax dodge. Surprised the Dems aren’t ready to pick that plum yet. But there must be some “follow the money” reasons that I have not figured out
That’s a ludicrous assertion.
Both are capped.
I thought you were a reasonable guy, what happened to you? What is just said is an oxymoron, you say money collected by the government from individuals is not a tax, which it clearly is, because some pay more than others. What?
And you comment on a previous post, that people in low state tax states want the people in high state tax states to suffer, is backwards. Those people in low tax states don't want to pay tax to the federal government for redistribution to those in high state tax states to alleviate their tax burden. Those people in high state tax states voted for politicians who taxed them exorbitantly... Why should other states subsidize them? Hmmm?