Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Path: utzoo!mnetor!seismo!lll-crg!nike!sri-spam!sri-unix!hplabs!pesnta!amd!amdcad!cae780!gordon
From: gordon@cae780.UUCP (Brian Gordon)
Newsgroups: net.taxes
Subject: Re: Please excuse my tax illiteracy!
Message-ID: <2788@cae780.UUCP>
Date: Mon, 6-Oct-86 17:47:47 EDT
Article-I.D.: cae780.2788
Posted: Mon Oct  6 17:47:47 1986
Date-Received: Tue, 7-Oct-86 23:38:35 EDT
References: <5621@decwrl.DEC.COM>
Reply-To: gordon@cae780.UUCP (Brian Gordon)
Organization: Tektronix, Inc. (CAE Systems Division), Santa Clara, CA
Lines: 18

In article <5621@decwrl.DEC.COM> fulford@altos.dec.com (Mike Fulford, MS: UCC, DTN: 544-1313) writes:
>When the media speaks of the "tax rate", do they mean Fed and SS taxes or      >just Fed? I can't figure out if I get a tax break or if I get broken by        >taxes. I will be in the 28% bracket. If it's a Fed only rate, then I get 
>a 10% increase. If it's Fed and SS, then I get a 2% decrease? What's the
>story here? They're doing it to us again!

The rates reported are consistently Federal Income Tax rates.  The FICA tax
(Social Security) -- both rate and base -- is going up on 01Jan, as has been 
scheduled for years.  If you are a "computer professional", then, in all 
likelyhood, your takehome pay will decrease at the first of the new year,
and quite possibly with each additional "phase in" step.  You didn't expect 
a break, did you?

FROM:   Brian G. Gordon, CAE Systems Division of Tektronix, Inc.
UUCP:   tektronix!cae780!gordon
	{ihnp4, decvax!decwrl}!amdcad!cae780!gordon 
        {hplabs, resonex, qubix, leadsv}!cae780!gordon 
USNAIL: 5302 Betsy Ross Drive/#58137, Santa Clara, CA  95052-8137
AT&T:   (408)748-4817 [direct]    (408)727-1234 [switchboard]