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Reply #86: Let me repeat my opinion,I support lifting income cap from the payroll tax [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
flaminbats Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-06-04 01:52 PM
Response to Reply #84
86. Let me repeat my opinion,I support lifting income cap from the payroll tax
but I oppose cutting the payroll tax for any reason. Taxes do not exist as a means for tinkering with the economy or "stimulating growth", they exist to raise the necessary revenue for government spending. The payroll taxes raise revenue for Social Security and Medicare benefits, and income taxes raise revenue for all of the other government programs. The means of reducing the damage done by taxes is to make income taxes progressive, by removing the cap protecting any earned income from the payroll tax, by only electing officials who pledge to invest our dollars wisely on human capital for a long-term return, and by fairly reducing the percentage of our tax dollars wasted yearly..only for servicing the national debt and to pay bondholders.
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