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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: GraceZ who wrote (161219)10/31/2008 11:25:28 AM
From: GraceZRead Replies (2) of 306849
 
In 2004 FICA was 40% of all Federal taxes collected so 20% (your calculation) of 40% equals .8%.

I guess the instant karma for giving someone else a hard time about math is to make an even bigger math blunder myself. I didn't give my post even another thought until I was laying in bed very late last night trying to fall asleep, after a terrible day of computer failures and impatient clients. Of course, it was then that I realized that I misplaced a decimal point on that .8%, it should have read 8%, which makes the share of total taxes paid for that bottom half closer to 12% not 5%.
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