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FICA Tax
A United States federal payroll tax imposed on both employees and employers to fund Social Security and Medicare—federal programs that provide benefits for retirees, the disabled, and children of deceased workers.
Employers
Individuals or entities that hire and pay others for their labor or services in a variety of employment contexts.
Wage Earners
Individuals who receive compensation for their labor or services in the form of wages or salary.
Perfectly Inelastic
Describes a situation where the quantity demanded or supplied is completely unresponsive to price changes.
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