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Trump telling his fans he wishes he wasn't there and they aren't sure if they should laugh, clap, or cry:
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Trump telling his fans he wishes he wasn't there and they aren't sure if they should laugh, clap, or cry:
Trump telling his fans he wishes he wasn't there and they aren't sure if they should laugh, clap, or cry:
this is what i was looking in regards to an explanation. Appreciate it brohemSo I've come to find out that most people don't know how the payroll tax (FICA taxes) works which is just a 6.2% employee contribution to social security and 1.45% to medicare then the employer has to pay the same amount on the employee contributions for a total contribution of 15.3% (7.65 for the individual and 7.65% paid by the corporation). Right now individuals only have to pay into these two systems on wages up to $138K. Anything in excess of that is not subject to the FICA tax.
I just read that article on CNBC about the highest marginal individual tax rate of 62% that was posted yesterday. These dudes are including the EMPLOYER portion of the payroll tax in the highest marginal INDIVIDUAL rate. Bidens plan calls for those making over 400K to pay the 6.2% social security tax and for employers to match that payment. So that 62% even if you include payroll taxes is really 56% if you look at the individual level, but goes down to 50% if you exclude it altogether. Im not even sure where they are getting their numbers from because right now it is 50.3% (37% federal and 13.3% california state rate) and probably a little higher if you include the current FICA contributions up to 138K. None of this even includes the 39.6% tax benefit individuals would get from removing the SALT cap which would reduce the state rate from 13.3% to 8.033% for a combined rate of 47.63% before any FICA taxes.
So really we are talking with FICA taxes a top rate of 53.8% under biden versus the 50.3% rate now.
I've seen some disingenuous scare tactics before, but that has to be up there at the top of republican ****ery. What a stupid ****ing article.
like this guy?bloomberg has 100M to donate for campaign ads. Just think about how obscene that is given how many folks are broke.
Trump telling his fans he wishes he wasn't there and they aren't sure if they should laugh, clap, or cry:
Offensive that a man who started a company with no handouts made it big? Why you offended bro?bloomberg has 100M to donate for campaign ads. Just think about how obscene that is given how many folks are broke.
Here we goOffensive that a man who started a company with no handouts made it big? Why you offended bro?
Reported for misogynyI love AOC
But being a House Rep might be her ceiling. I can't see her winning a statewide or national race.
Hell if NY loses a House seat and redraws her district to include Westchester, she might be in trouble.