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The bandwagon effect is potentially a powerful source of cognitive distortion.
Net Pay
The take-home pay an employee receives after deductions such as taxes and retirement contributions.
Federal Income Tax
The annual income of individuals, corporations, trusts, and other legal entities is subject to a tax imposed by the IRS.
FICA Tax Rate
The combined percentage rate for Social Security and Medicare taxes that both employees and employers must pay based on earned income.
Hourly Wage
Compensation based on the number of hours worked, typically paid to employees on an hourly rather than salary basis.
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