<p>Payroll taxes are going to be higher than that; SS alone is 6.2%. And virtually no summers contribute $5K to an IRA, since for most of them that means having to borrow $5K more to pay for school.</p>
<p>Payroll taxes are going to be higher than that; SS alone is 6.2%. And virtually no summers contribute $5K to an IRA, since for most of them that means having to borrow $5K more to pay for school.</p>