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Currently, the Social Security and Medicare programs are funded by payroll taxes rather than by the federal personal income tax. In 2013, the payroll tax for Social Security was 12.4 percent on wage, salary, and self-employment income up to $113,700. (Half of the tax is collected from employers and half from employees.) Above that income level, the tax dropped to zero. The Medicare tax was 2.9 percent on all wage, salary, and self-employment income. Some economists and policymakers have proposed eliminating the payroll tax and shifting to funding Social Security and Medicare out of the federal personal income tax. Would this proposal make the federal income tax system as a whole more progressive or less progressive? Briefly explain.
during the spring semester an enterprising junior decided to operate a larrys lemonade stand at the beach rather than
Under the FASB-explain the disclosure requirements for share based compensation. This post should include an example of how the standard should be applied.
racine tire co. manufactures tires for all-terrain vehicles. the tires sell for 60 and variable cost per tire is 30
the president of eastvaco is considering recommending to the board of directors expanding into the asian market. he
What are the gift tax consequences of an irrevocable transfer of $10,000,000 in trust to grantor's son for life, with all income payable to son, then remainder to charity on son's death? Grantor makes no other transfers that year, and grantor is n..
The "uncertainty principle" of the famous physicist, Werner Heisenberg, states that physical phenomena cannot be precisely measured because the very act of measuring affects the phenomenon being measured.
The problem belongs to Accounting and it discusses about calculation of principal balance and compounded monthly interest for mortgage loan
in 2011 a company changed from the lifo method of accounting for inventory to fifo. the companys 2010 and 2011
Hassan Headgear is a baseball cap shop in Santa Cruz, CA, that began business on April 13, 2008. The company had the following inventory purchase records for the month.
linda blye opened cardinal window washing inc on july 1st2010. during july the following transactions were
schlitterbahn waterslide company issued 25000 10-year 6 percent 100 bonds on january 1 2010 at face value. interest is
foley electronics corporation manufactures and assembles electronic motor drives for video cameras. the company
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