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To: Terry Maloney who wrote (207328)11/30/2002 11:03:14 AM
From: Les H  Read Replies (1) | Respond to of 436258
 
in some cities, mainly in the Midwest and Southwest, federal wages are above the average. they also index the ceiling on the payroll tax, or the amount of wages subject to Social Security tax, using a much higher number than the CPI as well. they calculate using the average increase in wages. it's been running between 5 and 8 percent a year so that almost 90,000 of wages will be hit with the 15% tax next year.