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President Trump said he will abolish payroll tax when he's elected!
Written by Donna Hancock Subject: Taxes-CorporateWhat is payroll tax
Payroll tax, also known as social insurance contributions, is a type of employment tax that is paid by both employees and employers to fund social insurance programs, such as Social Security, Medicare, and unemployment insurance. The purpose of payroll tax is to provide financial support to individuals who are retired, disabled, or unemployed.