Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (125426)	10/5/2000 7:12:51 PM
From: Daniel Schuh	Respond to of 1570096

Whatever, Jim. You've sort of gotten away from the 10% pay 90% of the taxes line, though.

To: Jim McMannis who wrote (125426)	10/5/2000 8:15:30 PM
From: Amy J	Read Replies (3) \| Respond to of 1570096

OT Hi Jim, Re: Taxes Galore: Here's the total tax bill per employee: Payroll Tax - employee pays: Soc Sec 6.2% (tax cap at 60,600) Medicare 1.45% Federal* (% is dependent upon employee's wage) State* (% is dependent upon employee's wage) DBL .7% Payroll Tax - employer pays: Soc Sec 6.2% (tax cap at 60,600) Medicare 1.45% FUTA .8% SUI 3.4% =================== Total: 20.2%, but this excludes State & Fed. Let's add those in (using estimates that are dependent upon the employee's wage level). A high-tech employee with a 31% tax rate has the equivalent straight percent of 20% for Fed and 6% for State. 20+6=26%. Grand Total Tax: 20.2% + 26% = 46.2% per employee, paid by employer and employee. Enjoy, Amy J