Business, 08.10.2019 02:30 tinapersaud9802

The portion of the federal insurance contributions act (fica) tax paid by employers is 7.65 percent and the portion paid by employees is 7.65 percent (for a total of 15.3 percent). suppose that absent fica taxes, workers receive a competitive equilibrium wage of $10.00 per hour and that with fica taxes divided equally between employers and employees, the market wage is $9.53 per hour. what is the incidence of the fica tax? for simplicity, assume employers pay $0.765 in fica taxes and workers pay $0.765 in fica taxes for a total of $1.53.

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The portion of the federal insurance contributions act (fica) tax paid by employers is 7.65 percent...