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Pastimes : Let's Talk About Our Feelings!!!
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To: Constant Reader who wrote (72395)1/17/2000 1:03:00 PM
From: Lizzie Tudor  Read Replies (2) of 108807
 
Its 1.45%, with NO CAP - this was discussed earlier on this thread.

I am a manager of a group of people all under 35 so I'm fairly familiar with the tax increases that this group has endured during this decade.

The fica taxes are 7 - 15% employee/employer match on what is (for most 20 and 30-somethings) ALL of their income. This is easily 10K per year for everyone I know, much more than what we are allowed to put into an IRA or 401K. Additionally medicare is more than our own health insurance payouts... not surprising since the elderly have better services - $100. deductible and dental, etc.
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