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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: GraceZ who wrote (161552)11/2/2008 1:38:20 PM
From: neolib of 306849
 

Well you are making progress in that you now see that income needed to pay for half of FICA isn't subject to FICA reducing the effective rate from your original assessment of 15.3 down to 14.13.

I've been telling you right from the beginning that half of FICA is not subject to either FICA or Income tax. When did you wake up?

The employer's half is added because it is part of that person's comprehensive income, it doesn't exist without their work, their production and it is paid solely on their behalf. If it wasn't added to their income, their FICA tax rate would be 15.3% (using your method of calculating) and you already know this is not true.

EDIT: Oops, I see you agreed that the rate is 15.3 if it is NOT added. I originally thought you were saying the rate is 15.3 if it IS added.

Why is it such a stretch to see the income tax deduction, that the income needed to pay half the FICA increases in value by having that income subject to neither FICA tax nor income tax?

How many times must I tell you that the 1/2 FICA income is freaking free of all tax. Praise God!. Oh course, it all goes as FICA tax.

PS: I see that you have finally given up all the BS about rates less than 14.13. This is good.

You can have the last confused word on the subject. I've beaten it to death, and at least you are no longer claiming your various changing goal posts about FICA. You were off by what, 4x on how much FICA the lower half pays, you where clueless about claiming that FICA rates vary by tax bracket, you claimed some BS that FICA is about 12.xx%, and you conflated income tax with FICA tax, and God knows what you will dream up next.
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