From: Damien Sullivan (phoenix@ugcs.caltech.edu)
Date: Mon Apr 07 2003 - 15:12:55 MDT
On Sun, Apr 06, 2003 at 10:27:24PM -0700, Lee Corbin wrote:
> > For 2002, this person would have had $797 in FICA taxes withheld, $186 for
> > Medicare, and $518 for federal income tax. On top of this, depending on
> or, taxes amounting to (797 + 186 + 518)/12854 = 11.7 percent.
>
> Shocking, really. There's no escape even for the poor---this is
> even a little beyond the tithe extracted by theocracies!
Although they're supposed to get a lot back in Social Security, possibly more
than they 'earned' by paying in. Assuming they don't die too early, which
they might well do, in which case their children get none of the 'saved'
money. Oh well, I'm no great fan of that part of the system.
-xx- Damien X-)
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