2 ms·
Small nitpicks: The Medicare / Medicaid portion of FICA is 1.45% and uncapped, and increases by .9% over $200k. FICA is also paid equally by the employer (.9%
by twoodfin 6y ago
Small nitpicks: The Medicare / Medicaid portion of FICA is 1.45% and uncapped, and increases by .9% over $200k.
FICA is also paid equally by the employer (.9% ACA add-on excluded), so it’s only an accounting gimmick that prevents it from being a 15% tax on income.