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Revision as of 21:47, 22 September 2026

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The annual deficit for 2009 was 1.5 trillion dollars and also the national debt is now merely about $13 mil. With 60 trillion dollars in unfunded liabilities coming due a next thirty years, the government needs money. If anything, the states are in worse design. It is not quite picture. memek But your employer seems to have transfer pricing to pay 7.65% with the income he pays you for your Social Security and Medicare. Most employees are unaware of this particular extra tax money your employer is paying you r.

So, between you and your employer, federal government takes 14.3% (= 2 times 7.65%) of one's income. For anyone who is self-employed you pay the whole 15.3%. I've had clients ask me to to negotiate the taxability of debt forgiveness.

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