We hear our Washington and State politicians speak of ” entitlements and Payroll Taxes” as if they were handouts in the same category of charity. They speak and act as if this money in question is theirs and distribution of such funds is a painful endeavor, since there is less money for them! Criminal intent is what I call this. The term entitlement refers to the fact of having a right to something. (Wikipedia). Therefore the entitlement called Social Security is rightfully owned by the people receiving it. Now we are hearing how Donald J. Trump is seeking yet another tax cut for corporation welfare by reducing or eliminating the Payroll Tax.

Payroll taxes are taxes imposed on employers or employees and are usually calculated as a percentage of the salaries that employers pay their staff. In other words, they are a part of your earned income.

Payroll taxes generally fall under two categories:

(1) deductions from the the employee’s wage and

(2) taxes paid by the employe,r based on the employees wages.

Therefore, these taxes are indirectly paid by you since they are calculated from your salary. Again no gift money here. Don’t be fooled and fight for what is your hard earned money.

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Learn more about finance terms at Investopedia

Categories: Finance

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