Income tax and Social Security tax
David S:
When you compute your federal income taxes you are allowed to deduct state and local income tax (or state and local sales tax), plus real estate taxes, plus personal property tax. But you cannot deduct the taxes you paid to Social Security. Doesn't that make the income tax a tax on a tax? In other words you pay income tax on income you never received because it was already taken in SS taxes.
A18:
No. Part of the rate is in payroll taxes, part is in income tax.
All those deductions should be repealed.
Richard:
Payroll tax is a convenient term to mask the inconvenient "income tax." So yes.
Bono:
IF you are a federal worker, than yes.
Fmr. Gov. NickG:
Yes, but the problem is not with the income tax but with the payroll tax. We should just pay for social security out of the income tax...then we could stop hearing these claims about the "trust fund" going "bankrupt.
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