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Dernière version du 5 septembre 2026 à 01:26
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The 'payroll' tax applies at a hard and fast percentage of the working income - no brackets. A great employee, pay out 6.2% of one's working income for Social Security (only up to $106,800 income) and 4.45% of it for Medicare (no limit). Together they take even more 7.65% of the income. There's no tax threshold (or tax free) level of income for this system. My finances would be $117,589 adjusted gross income, itemized deductions of $19,349 and exemptions of $14,600, making my total taxable income $83,640.
My total tax is $13,269, I have credits of $3099 making my total tax for 2010 $10,170. My increase for the 10-year plan would check out $18,357. For the class warfare that the politicians like to use, I compare my finances towards median figures. The median earner pays taxes of a few.9% of their wages for the married example and 9.3% for the single example. I pay 12.7% for my married income, that 5.8% more than the median example.
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