Paycheck Comparisons

Who earns the most money overall?

• Person 1

• Person 2

• Person 3

• They are all the same

Who gets the highest PERCENT of takes taken out of their paycheck?

• Person 1

• Person 2

• Person 3

• They are all the same

Who gets to KEEP the highest percent of their paycheck?

• Person 1

• Person 2

• Person 3

• They are all the same

Answer explanation

Person 1 gets to keep 88% of their paycheck

Who gets the highest PERCENT of their paycheck deducted for FICA and State Insurance Taxes?

• Person 1

• Person 2

• Person 3

• They are all the same

Answer explanation

Everyone gets deducted 7.65% of their paycheck for FICA.

Which person gets a higher PERCENT deducted for Federal Income Taxes?

• Person 2

• Person 3

• They are about the same

Answer explanation

Typically, the more $ you make, the more Federal Taxes you will have deducted.

Which person gets a higher PERCENT deducted for State Income Taxes?

• Person 2

• Person 3

• They are about the same

Answer explanation

Most people get deducted about the same percent for State Income Taxes.

Which person gets a higher DOLLAR AMOUNT deducted for State Income Taxes?

• Person 2

• Person 3

• They are about the same

Answer explanation

Person 3 gets $172 deducted for State taxes;

Person 2 only gets $80 deducted

Person 1 gets deducted the MOST for...

• Federal Income Taxes

• State Income Taxes

• Social Security

• Medicare

Answer explanation

They get deducted 6.2% for Social Security.

Does Person 1 get deducted more for Federal taxes or State taxes?

• Federal Income Taxes

• State Income Taxes

Answer explanation

They get deducted 3.2% for State, and only 1.12% for Federal.

Person 2 gets deducted the MOST for...

• Federal Income Taxes

• State Income Taxes

• Social Security

• Medicare

Answer explanation

They get deducted 8.07% for Federal taxes.