Payroll taxes, not income taxes, mean more to many households
Payroll taxes, not income taxes, mean more to many households
Much of the discussion around tax reform these last few weeks has focused on income tax and details like tax brackets and tax rates. Meanwhile, 40 percent of taxpayers don’t pay any income tax, while almost all of them see a payroll tax come out of their paychecks. It’s usually listed as FICA and helps fund Social Security and Medicare.
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