Marketplace®

Daily business news and economic stories

Payroll taxes, not income taxes, mean more to many households

Much of the discussion around tax reform these last few weeks has focused on income tax and details like tax brackets and tax rates. Meanwhile, 40 percent of taxpayers don’t pay any income tax, while almost all of them see a payroll tax come out of their paychecks. It’s usually listed as FICA and helps […]

Much of the discussion around tax reform these last few weeks has focused on income tax and details like tax brackets and tax rates. Meanwhile, 40 percent of taxpayers don’t pay any income tax, while almost all of them see a payroll tax come out of their paychecks. It’s usually listed as FICA and helps fund Social Security and Medicare.

Click the audio player above to hear the full story. 

Related Topics

Latest Episodes

View All Shows
  • Marketplace
    4 hours ago
    25:19
  • Make Me Smart
    9 hours ago
    19:00
  • Marketplace Morning Report
    12 hours ago
    6:55
  • Marketplace Tech
    16 hours ago
    8:33
  • This Is Uncomfortable
    3 days ago
    56:05
  • Million Bazillion
    24 days ago
    32:45