Hey Pat,
As someone who now has his own business, I can assure you—since I pay BOTH the employee and employer parts of FICA—it is HUGE.
If the employer didn’t have to pay every employee would. And their taxes would go up and immediately consume whatever extra earnings Rush thought they’d get.
Yes AB.
Not sure why you are paying BOTH parts of FICA unless you refer to your own FICA payments.
Which goes up to 15% or thereabouts as I recall.
It’s not that Rush is totally wrong with his assertion that, most likely, if the employer didn’t have to match the medicare and social security the employees would probably have higher pay.
It’s just very vague and using Rush’s logic, if unemployment insurance weren’t on the employer, or workman’s comp insurance....then, of course, the employee will make more take home pay.
There is no such assurance and it’s just a bit misleading.
Rush stated, on the air, that the employer DOES NOT match the FICA and HI deducts, that if comes out of the employee’s gross pay he WOULD have gotten....
....lookit, again, Rush Limbaugh has not gotten a paycheck in many years. It’s misleading and inaccurate how he states it.
While Rush Limbaugh is smarter than me about most everything, he needs to stay away from paychecks.
I know all there is to know about that.
Once I even paid the president of the United States.
Serious.