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Don't forget the other 7.65% social security and Medicare that his employer pays on his behalf. So total tax burden for Joe now is actually over 20%... And 18%
by chrishynes 10y ago
Don't forget the other 7.65% social security and Medicare that his employer pays on his behalf.
So total tax burden for Joe now is actually over 20%... And 18% Fairfax would be much less regressive.
- pilom 10y agoThe fair tax proposal actually proposes removing Social Security and Medicare taxes as well so there would be no income tax of any kind. I stand by my numbers.