In the old days it was commonly known as FICA. That’s social security. Currently 7.65% for both employee and employer. 6.2% for OASDI and 1.45 for Medicare.
Which is my point with this one. The employee kicks in 6.2% (7.65% including Medicare Hospital Insurance) and the employer kicks in another 7.65%. The employer does not cover both. The illegal kicks in nothing as does the employer of the illegal.
Standard deduction is $11,400. Exemption for joe, mrs. joe, and the two little joes total $14,600. bringing taxable income down to $26,000. 2 child care credits of 41,000 each brings fed tax down to $1,069.
Are you sure you can take the child care credit when the wife is not working? Otherwise we will have to factor in her wage which up to now has not been included. We have also not considered children and the cost to the system of Jose Illegal’s kids (which would get educated in the US school system at the cost of over $8000 per kid per year) and not mentioning the likeliness that any health issues with the Jose Illegal’s children will be handled by Medicaid. Child care and deductions for children are out unless we consider costs to the system of children on both sides.[/quote]
On the first point, no, it wasn’t your point. It was mine. You started out claiming it was just the 6.2%, not 7.65%. If we’re comparing how much money Joe and Jose have to live on, the employer’s share is incidental.
And yes, I’m sure on the calculation. If my masters in tax and 20 years as a CPA didn’t make me confident enough, my tax software did.
No need to even address the rest of your long debunked racist screed. But please answer me this. Do you really think that Jose’s 8 year old son really deserves less of an education than Joe’s son simply because of where his parents were born?
