The Bush Defense

Jordan Hayes jmhayes at j-o-r-d-a-n.com
Sat Jan 11 09:03:40 PST 2003



> Anyone have a guess how much such a couple would pay in payroll
> taxes?

Medicare is presently 1.45% (no limit), so that's $580; FICA is 6.2% (only on first $87,000 in 2003), so that's $2,480 or a total of $3,060 on $40,000.

Max notes in a later post:


> The percentage reduction in taxes is huge because it
> is in fact the case that, increasingly, the bottom
> half of the income distribution has no positive Federal
> income tax liability. (The bottom 40% has on average a
> negative liability.) The Bush proposal advances this trend.

... and isn't this as it should be?



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