We've heard a lot about double taxation lately. I'm not an economist, or even a graduate of Harvard Business School like the deep thinker in the White House, but I am sort of confused about something. My paychecks (the ones I used to receive when Clinton was President and I had a good job) contained a deduction for FICA (Social Security). But then my federal tax was calculated on the whole amount, including the FICA which had already been handed to the government. And then I paid state taxes again on the whole amount. By my calculations, that's triple taxation. And yet George Bush doesn't seem to be troubled. I wonder why that is.
posted by Alex at 10:12 AM
