0
The medicare tax is 1.45% of income (with another 1.45% paid by the employer). This same tax rate applies to every dollar of income, hence it is proportional.
It's also regressive - it impacts low-income wage earners more than high-income wage earners.
Wiki User
∙ 12y ago
Wiki User
∙ 14y agoNot sure what you mean by proportional, but, given that it's the same percentage for everyone, I don't think it could be described as progressive.
Add your answer:
Earn +20 pts
What is the fica taxes for 2010?
Still 6.2% for both employer & employee. Actually, that 6.2% is just for the social security tax portion of FICA. FICA consists of social security and medicare. The total FICA tax is 7.65%, which includes the 1.45% medicare tax. There is currently a limit on the social security tax portion (6.2% of $106,800--which is $6,621.60), while there is no medicare limitation.
Can there be allowable variances in a FICA Withholding?
No. FICA is a straight percentage of salary or wages. The employee Social Security portion (6.2%) stops after the employye reaches the maximum salary ($102,000 in 2008). The employee Medicare portion (1.45%) does not have a miximum.
Fica medicare deduction?
what?
What are two of programs that FICA funds?
Social Security and Medicare are funded by FICA
What is fica-mc on my paycheck?
The FICA -MC on your paycheck is a reference to the deduction for Medicare. The Medicare deduction should be 2.9 percent of your total earnings.
Is medicare considered fica tax on pay stub?
Yes, FICA (Federal Insurance Contributions Act) is the combination of Social Security and Medicare taxes.
What are the two divisions of the FICA?
Social Security and Medicare.
What does FICA tax for?
Your social security and medicare benefits
What does an employer have to match on your taxes?
FICA and Medicare deductions
Do you owe FICA and MEDICARE taxes on a unemployment benefit check?
No
What does FICA tax go for?
Your social security and medicare benefits
FICA includes taxes to pay for?
Social security and medicare
