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The 'payroll' tax applies at a constant percentage of the working income - no brackets. The employee, fresh 6.2% of the working income for Social Security (only up to $106,800 income) and 12.45% of it for Medicare (no limit). Together they take an additional 7.65% of the income. There is no tax threshold (or tax free) regarding income in this system.

Copyright 2010 by RioneX IP Group LLC. All rights reserved. This material may be freely copied and distributed subject to inclusion of this copyright notice, author information and all the hyperlinks are kept complete.

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