Talk:Federal Insurance Contributions Act tax

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	This article is within the scope of WikiProject Taxation, an effort to create, expand, organize, and improve Tax related articles to a feature-quality standard.

[edit] Second person to third person

I'm not a tax expert, so I can't expand this article very much. But I changed it from a cozy second person to a much more formal (and encyclopediatic) third person. And I added a bunch of WikiLinks. Now somebody else can come through and expand it however you see fit. Joe 01:07, 28 September 2005 (UTC)

[edit] Rate change in the 1980s

This article could benefit from some references to the history of the tax rates. Also, it might benefit from a clear statement that when people are talking about "Federal income taxes", they are almost always excluding this tax, although both are Federal and both affect after-tax income. I'll dig up the rate history. Boris B 23:41, 25 August 2006 (UTC)

True - I agree Morphh 00:08, 26 August 2006 (UTC)

I'm getting cold feet about those external links I added. Neither mentions "FICA". I am starting to wonder if I am confusing different taxes. If the links I added do not refer to FICA, by all means delete them. Boris B 00:36, 26 August 2006 (UTC)

Dear editor Boris B: Both of your links are relevant. Regarding the first one, the one that links to the chart of tax rates: the tax rates under the columns for employer and employee are indeed imposed by the Federal Insurance Contributions Act (FICA). The columns for the self-employed individual relate to a separate Act of Congress, but the chart as a whole is certainly relevant to this Wikipedia article. Likewise, the second link, the one that lists various developments in the law, includes discussion of changes to the Social Security Act as well as the Federal Insurance Contributions Act, so it's relevant as well. I don't see anything wrong with the links. Yours, Famspear 01:31, 26 August 2006 (UTC)

PS: I know you're right about people usually forgetting about the FICA (Social Security and Medicare) taxes. Yes, they're technically not "income taxes," but obviously the wage earner (as well as the employer) is bitten by these payroll taxes (they're actually called "employment taxes") every time the wage earner gets a paycheck. Yours, Famspear 01:37, 26 August 2006 (UTC)

[edit] Unencyclopedic Tone

The "Advocacy and criticism" section of this article reads like a blog entry or a column in a newspaper and lacks the formal tone of an encyclopedia. Someone who is knowledgeable enough and has some time should consider reworking this section. 71.231.3.11 03:53, 18 March 2007 (UTC)

I agree. I'll add a "tag" to it. If you'd like to, why don't you start fixing it? — Malik Shabazz | Talk 04:10, 18 March 2007 (UTC)

Dear fellow editors: I made a stab at it, but it's just a beginning. It definitely needs work in my opinion. Yours, Famspear 04:27, 18 March 2007 (UTC)

I took a shot at it too. I think I cleaned it up enough to remove the banner but it needs sources. I also think we need another sub-section on the growth and insolvency of the programs and the aspect that the taxes collected under FICA do not raise enough revenue to cover the cost of the programs. Morphh ^(talk) 13:19, 18 March 2007 (UTC)

Actually, FICA taxes currently raise far more than the cost of the programs, because of the 1983 increases imposed to prepare the system for the baby boomers' retirement. At the time when expenses begin to exceed tax receipts, there will be an accumulated surplus of trillions of dollars. Under a pessimistic projection of future trends, the surplus will nevertheless be insufficient to cover all expenses, beginning a few decades from now.

These subjects are better addressed in Social Security (United States) and Social Security debate (United States). They don't relate specifically to the FICA tax, but to the overall program. JamesMLane t c 22:53, 19 March 2007 (UTC)