Replies to post #92890 on Tornado Alley (PROG)

[wbmw]

Soxfan, agreed. Though I'd sure like a few more Repubs to make the argument in public that $1,000,000, "Really isn't a lot of money."

[SilverSurfer]

SoxFan that is the beauty of a FiCa Payroll Tax Holiday, for as long as it takes to bring us out of the 'Great Recession'... FICA payroll tax is limited to the first $106,000 so it is already a terribly regressive tax penalty on younger lower income employees and small employers....
What is FICA tax? (Federal Insurance Contribution Act) FICA

Who has to pay FICA tax? All employees. FICA is 6.2% of Taxable Gross - Employer pays a matching amount.
What is the FICA tax income cap subject to collection?
2008 - $102,600
2009 - $106,000