A Self-Employed Individual Has Earnings from His Business of $300,000

question 2

True/False

A self-employed individual has earnings from his business of $300,000. For the earnings in excess of the $117,000,he will only have to pay the 2.9% Medicare tax.

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Definitions:

Privilege

The advantages or rights that are available to a particular person or group of people which are not afforded to others.

Racial Formation

A socio-historical process by which racial categories are created, inhabited, transformed, and destroyed.

Whiteness

A social and political construct that gives individuals perceived as white certain privileges and advantages.

Meritocracy

A system in which advancement is based on individual ability or achievement, rather than on class privilege or wealth.