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.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (71176)	2/23/2001 5:24:09 PM
From: Ilaine	Respond to of 436258

FICA is considered a tax, even though FICA is Old Age, Survivors, and Disability Insurance aka Social Security. Self-employed people pay 100%, not half. Rates are: -6.2% on $80,400 for 2001 (employee & employer) -12.4% on $80,400 for 2001 (self employed) Medicare basic hospital insurance: -1.45% on all wages (employee & employer) -2.9% on net earnings (self employed) And don't forget FUTA, which self-employed people pay even though we aren't elibible for unemployment compensation.