I’m seeing a lot of political discussion about payroll taxes recently. What exactly are payroll taxes, what do they fund and who pays them?
I’ve done an amount of research on this already, but it just isn’t sticking for me. What’s the difference between what the employer pays and what the employee pays?
In: Economics
Payroll tax is taxes you pay from your income as an employee. (NOT business owner unless he or she is also an employee on the books. Taxes are paid on numerous levels. Federal, state and county or city . This depends on where you live. NY has higher taxes but more social programs to help ppl, fund projects for growth, state reimbursement programs for like green energy, etc etc
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