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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?


To: Nadine Carroll who wrote (170448)8/12/2001 1:50:06 AM
From: DavesM  Read Replies (1) | Respond to of 769670
 
Please explain how the SS tax is a progressive tax. What percentage of salary does someone making $20,000/yr goes to FICA? What about someone with a salary of $500,000/yr?

Someone making 7$/hr full time has close to $2,000/yr in total contributions to FICA in his/her name. Even invested in Treasuries, which would give a greater return, an IRA or FICA?