11/02/2017: How payroll taxes can translate to lower wages
(U.S. Edition) The House GOP is planning on releasing its tax bill soon, and in the plan we'll finally learn more about tax brackets and tax rates. But there's another part of the tax code that's currently very important to many low- and middle-income households: payroll taxes, also known FICA. On today's show, we'll look at what these taxes are and why economists say employers are passing on the costs of this tax to employees in the form of lower wages. Afterwards, we'll look at how the current Fed chair frontrunner, Jerome Powell, might approach future policy. Plus: A conversation with Julie Smolyansky, CEO of Lifeway Foods and an outspoken champion for survivors of sexual assault, about how our culture needs to change.
(U.S. Edition) The House GOP is planning on releasing its tax bill soon, and in the plan we’ll finally learn more about tax brackets and tax rates. But there’s another part of the tax code that’s currently very important to many low- and middle-income households: payroll taxes, also known FICA. On today’s show, we’ll look at what these taxes are and why economists say employers are passing on the costs of this tax to employees in the form of lower wages. Afterwards, we’ll look at how the current Fed chair frontrunner, Jerome Powell, might approach future policy. Plus: A conversation with Julie Smolyansky, CEO of Lifeway Foods and an outspoken champion for survivors of sexual assault, about how our culture needs to change.
