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Politics : Formerly About Advanced Micro Devices
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To: Jim McMannis who wrote (125439)10/5/2000 10:29:03 PM
From: Amy J  Read Replies (2) of 1570342
 
OT Hi Jim, RE: "you added medicare twice"

Medicare is added twice because both the employee and employer pay 1.45% each (for a total of 2.90%).

Most employees don't know this, but the employer has to pay 1.45% too (in addition to the employee paying 1.45%) and this (employer's payment) is not recorded on the employee's pay check (because the employer pays it).

So, in summary, the employee *and* employer *both* pay medicare and soc sec as follows:

employee pays 1.45% in medicare
employee pays 6.2% in soc sec
employer pays 1.45% in medicare
employer pays 6.2% in soc sec

I think all paychecks in the USA, should show both employee and employer payments, since this is what is truly paid and this way an employee really knows how much money actually is being paid to the government in taxes.

Regards,
Amy J
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