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View Diary: Truth in Taxation (9 comments)

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  •  Thanks misslegal beagle (0+ / 0-)

    Thanks for the feedback. Yeah, when I try ti break things up more I get complaints that they are too long, and when I compress them I get complaints that they are too dense. basically I just run off at the pen too much, I guess. But I think the content is worth putting out there, so I persist.

    Economists agree that the employee really bears both sides of the FICA tax. That was the intent of structuring FICA as it was - employers would pay less, because an employee only has X total market value and the employer regards FICA as part of that cost, but by breaking it up the workers are fooled into thinking they only pay half of the tax when really they suffer the whole thing. More dishonest taxation.

    My bad on the marginal rate - I looked at the headline thresholds in section 1 rather than at the form 1040 inflated tables. But the difference between work and speculation remains startling.

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