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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Richard Forsythe who wrote (837)	3/30/1998 1:05:00 PM
From: Colin Cody	Read Replies (2) \| Respond to of 5810

Richard, you are incorrect. Wages would not be given to the employee as "gross". The ONLY thing that the Nat'l SALES tax would eliminate (until reinstated that is) is the Federal Income Tax, and the Federal Earned Income Credit. . Wages under NST GROSS Less 6.2 FICA Less 1.45 Medicare Less STATE Income Tax Less LOCAL/CITY Income Tax Less SDI Withholding Less U.C. Withholding Less Garnishments Less United Way Less Retirement Savings Less Medical Insurance Premiums Less other items, "cafeteria plans", etc. NET PAY. Sure your net will ne LARGER, and you;ll NEED IT to pay all the Sales Taxes!! ques: Why is this "better" ans: IT AIN'T Colin