The Russian president takes the crown from U.S. President Barack Obama, who has been on top every time except 2010, when Chinese president Hu Jintao briefly took his place. Let's begin by saying this: The list is right, Putin is clearly the most powerful person in the world right now. However, the Forbes list shouldn't be a shock â it's correcting itself.
MEDI is the Medicare tax withheld for contributions to the social insurance system better known as Medicare insurance. It is calculated at 1.45% of gross wages minus pre-tax deductions such as family medical and dental premiums. There is no limit on wages on which the tax is calculated. more.
Federal withholding refers to the federal payroll taxes that employers are required to withhold from employeesâ wages. Identification Federal income tax is a form of tax that the federal government levies on personal income. Social Security and Medicareâalso called FICAâ taxes are forms of payroll taxes that the federal government also imposes on income. Employees pay these federal payroll taxes via the withholding process.