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To: Ken H
I think they also forgot to include FICA, which adds about about 15% to the total burden for the first ~60,000 of income.

In 2002, the first $84,900 is subject to social security tax. There is no cap on the amount subject to the 1.45% (plus 1.45% "employer match") Medicare tax.

47 posted on 05/17/2002 4:46:44 PM PDT by the bottle let me down
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To: the bottle let me down
I think they also forgot to include FICA, which adds about about 15% to the total burden for the first ~60,000 of income.

I found out that each Mom & Pop's can also tack on "their little precentage," like 5%. So, it's really impossible to actually track down the EXACT taxes on cigarettes. Too many "hidden taxes" on this legal product.

79 posted on 09/11/2002 5:09:13 AM PDT by SheLion
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