Snow: Higher Payroll Taxes Would Hurt U.S. Economy

[Rose Siding]

snip>
"The personal accounts don't in and of themselves affect the solvency of Social Security," Snow said in response to a question from an FLIR Systems worker. "What they do is make possible a much better outcome for the worker who signs up."

The White House has ruled out cutting the benefits of existing and soon-to-be-retirees or raising payroll taxes as a means to deal with Social Security. Snow said he did not expect the president to seek a higher cap on payroll taxes as an alternative measure.

"I don't think the president will push on that," Snow told a talk radio program in Portland. "I don't particularly think that's a good idea because I think raising the cap raises the marginal tax rates on employees and employers and could have very harmful effects on employment in the country," he added.

However, Snow said other options remained on the table including a possible increase in the U.S. retirement age or adjustments to the indexing and calculation of benefits. Cuts to other government programs may also be needed to free up funds, he said.......

http://www.boston.com/news/nation/articles/2005/03/29/snow_higher_payroll_taxes_would_hurt_us_economy/

[BlueEyedSon]

1. Doughnut.... cap at 90k, restart at 1 million

[Tandalayo_Scheisskopf]

2. What would you expect Snow to say?

He certainly is not going to break out singing "The Internationale".

No, just like his fellow gubmint employees, he's just gonna make it up as he goes along.

[bluestateguy]

3. The only snow I pay attention to is Brittany Snow.

[Bob3]

4. considering Mr. Snow's Track record

this indicates that higher payroll taxes would bring us full employment and prosperity the likes of which that we have never seen.

[papau]

11. LOL - I agree - very harmful effects on 6 fig salary employment - as if

those jobs will be outsourced.

When a Board of Directors outsources the CFO CIO & CEO out to India - call me

[dweller]

5. how much did it hurt the economy

when it was raised before?

Wasn't this back in Raygunz times? During the 'bipartisan fix' of Soc.Sec? With the understood 'trust' that come 2017, income taxes would be raised to spread the 'fix' to higher income brackets?

oh that's right. . . bait and switch of the finest degree.

dp

[osiristz]

6. part of the plan

is to destroy the US economy so all dollars can be recalled (that'll include gold or silver)
Then everyone is on the e-card economy. No more cash under the table, all the slaves are accounted for. The chains go on. Big brother owns you!

Surely you don't believe for one minute they intend to help the economy, do you?

[Bleacher Creature]

7. Rest of America: John Snow hurts U.S. Economy n/t.

[Daphne08]

8. "I don't particularly think

that's a good idea because I think raising the cap raises the marginal tax rates on employees and employers and could have very harmful effects on employment in the country...blah, blah, blah..."

Oh. So raising the cap will hurt employment, will it? So the folks in Washington really, really care about employment, eh?

I think what they're really saying is, "We're not going to take anything else away from the motivated Americans who make more than $90,000 and we're not going to force the capitalists to pay anything more in Social Security taxes for you dumb, unmotivated workhorses. Now go away, you bums, or we'll outsource your jobs, too!"

Do I have that about right?

[jmcon007]

9. I thought EVERYTHING was "on the table?"

I guess what they meant was everything Bush wants is on the table.

[BlueEyedSon]

10. No, that was Iran.