just got my first quarter estimated tax bill

[NMDemDist2]

I "made" $7500 and owe self employment tax of $1060

what galls me is that I owe no "income" tax, it's all FICA.

there better be some social security for me in 15 years (if I don't drop before then)

if everyone had to write a check to the IRS every quarter instead of having it deducted from each paycheck, the revolution would start tomorrow!

[whistle]

1. Welcome to the neo-conservative world of regressive taxes....

...that FICA is a combination of what you as an employee, who also is the employer has to pay in combined social security (12.2%) and medicare (2.1%), and you will continue to pay that share until you hit the cut-off of $90,000.00. At that point, all of your hard work will appear to pay off as the FICA on the incremental income above $90,000 disappears completely, but your income taxes are progressive.

What you and the other 150 million working Americans who have earned income, don't realize is that the 1% of the wealthiest Americans who make their living from UN-earned income (dividends, capital gains) pay no FICA what-so-ever on any of that income and pay only a flat rate no matter how much they make.

Let's get the tax system back to where everyone who reaps the benefits from living and working and investing in America, all pay their fair share.