No it isn't.

Post #342,196 by Another Scott 5/2/11 9:46:56 PM Reply	No it isn't. FICA is an insurance payment that comes out of employees compensation. The federal government takes out FICA for its employees. The federal government is not in "business" and doesn't earn a "profit". FICA's not a tax on profits. Attempting to redefine terms doesn't strengthen whatever argument you're attempting to put forward. Cheers, Scott.
Post #342,197 by beepster 5/2/11 10:23:41 PM Reply	FICA Boy I wish we had search....because now you've flipped. When we talk about income taxes..you talk about how the poor are overtaxed...and use FICA in that calculation... Now...you ignore FICA as insurance when its the corp side. I KNOW there are examples of this in banter between us. Sure, understanding today's complex world of the future is a little like having bees live in your head. But...there they are.
Post #342,198 by Another Scott 5/2/11 10:27:43 PM 5/2/11 10:28:31 PM Reply	;-) It's still got nothing to do with Exxon's corporate income taxes on their earnings. HTH. Cheers, Scott. Edited by Another Scott May 2, 2011, 10:28:31 PM EDT Expand All History
Post #342,199 by beepster 5/2/11 10:35:17 PM Reply	Re: ;-) But the poor corporation is taxed multiple times, with excise taxes, payroll taxes..why should they have to pay a higher net tax rate than Obama? After all, he's rich! Sure, understanding today's complex world of the future is a little like having bees live in your head. But...there they are.
Post #342,200 by Another Scott 5/2/11 10:40:32 PM Reply	...
Post #342,201 by beepster 5/2/11 10:48:51 PM Reply	Re: ... You seemed to like that argument before... ;-) Sure, understanding today's complex world of the future is a little like having bees live in your head. But...there they are.
Post #342,211 by boxley 5/3/11 7:28:50 AM Reply	feds dont take out fica for their employeees they are exempt feds take out fica for exxon mobile because it is a tax they want to collect. That tax cuts into the profits of the company Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free American and do not reflect the opinions of any person or company that I have had professional relations with in the past 55 years. meep
Post #342,212 by Another Scott 5/3/11 7:36:32 AM Reply	You're wrong about that, too. Things change. ;-) http://www.opm.gov/s...al_procedural.asp Social Security Deductions Employees subject to the FERS or CSRS Offset systems are subject to Federal Insurance Contributions Act (FICA) deductions from their pay. (CSRS employees are not subject to FICA deductions.) Therefore, in any case involving a FERS or CSRS Offset employee, FICA deductions (which are offset against the total employee retirement deduction) must also be withheld. http://www.opm.gov/r...re/fers/index.asp Congress created the Federal Employees Retirement System (FERS) in 1986, and it became effective on January 1, 1987. Since that time, new Federal civilian employees who have retirement coverage are covered by FERS. FERS is a retirement plan that provides benefits from three different sources: a Basic Benefit Plan, Social Security, and the Thrift Savings Plan (TSP). Two of the three parts of FERS (Social Security and the TSP) can go with you to your next job if you leave the Federal Government before retirement. The Basic Benefit and Social Security parts of FERS require you to pay your share each pay period. Your agency withholds the cost of the Basic Benefit and Social Security from your pay as payroll deductions. Your agency pays its part too. Then, after you retire, you receive annuity payments each month for the rest of your life. HTH. Cheers, Scott.
Post #342,215 by beepster 5/3/11 8:52:09 AM Reply	Only because he stated an absolute.. instead of saying "most" Sure, understanding today's complex world of the future is a little like having bees live in your head. But...there they are.
Post #342,221 by Another Scott 5/3/11 10:02:21 AM Reply	No, he was wrong because he was wrong. HTH.
Post #342,223 by beepster 5/3/11 10:31:15 AM Reply	Forgive us for being old... we remember 1980 :-) Sure, understanding today's complex world of the future is a little like having bees live in your head. But...there they are.
Post #342,224 by Another Scott 5/3/11 11:19:10 AM Reply	:-) I'm getting up there too.

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