Quote:
Originally Posted by z06psi
You didn't answer.
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Having been self-employed for years, paying double SS and Medicare, the years I made a lot of consulting bucks, got into a high Fed bracket, and paying the highest NJ rate, my total effective payroll tax rate was over 50%. IMO, there is no way you can justify paying more than half of your earnings in payroll taxes, only to pay more tax when you buy something. It creates a dis-incentive to finding and completing more work, that is clearly bad for our country. Or worse, finding ways to get paid "under the table".