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p.s. for the economists in the crowd, and those interested... - A Suburbs Boy Living a Country Life [My Flickr Photos]
April 14th, 2004
12:43 am

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p.s. for the economists in the crowd, and those interested...
for the economic purists out there, in my recent post about taxes I only counted our direct outlays, not the additional employer amounts of SS and Medicare taxes...

That's the way CBO counts it--and it really is true. That's your money being spent, even if you never see it as a line item on your pay-check...because employers can't spend it on higher salaries, additional fringe benefits, reinvestment in the firm, etc...

next time you look at your paycheck, don't forget to mentally double the SS and medicare lines--because that's what's really being taken from you in those two taxes.

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From:starweaver
Date:April 13th, 2004 09:46 pm (UTC)
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heh. I'm self employed. I'm KEENLY aware of how much I have to pay for taxes.
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From:happypete
Date:April 14th, 2004 04:39 am (UTC)

yep..

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I think when I ran my own business is when this really became clear to me.
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