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To: alloysteel
The employer does not pay one cent of the payroll tax.

and now we all know that you're not an employeer.


63 posted on 01/04/2002 5:25:34 AM PST by defeat_the_dem_igods
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To: defeat_the_dem_igods
Huh?

Self-employed pay the full freight on their Social Security payments. What is that, about 12.4%? An employer has a certain amount set aside, if you have been reading some of the other posts, not only the "share" for the Social Security payroll tax, but for Medicare, health insurance (if through the employer) and other group insurances, which is his expense for having you on the payroll. Your paycheck stub may say you get $18.l7 per hour, and your annual wages (or salary) are based on this figure. But you are getting "non-taxable" benefits above and beyond this purely fictitious number, which in some cases may be as much as 25% more than the posted wages. Plus the employer is maintaining a workplace for you, i.e., desk, workbench, computer terminal, etc. This is free, perhaps. The fact remains, your employer may be spending the equivalent of maybe $30/hour so you collect a paycheck that lists your wages as $18.17/hour. On that $18.17, if you are taking home $13/hour, you are doing exceptionally well.

70 posted on 01/04/2002 8:11:53 AM PST by alloysteel
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