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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Giordano Bruno who wrote (103434)5/19/2001 4:20:09 PM
From: Don Lloyd  Read Replies (2) of 436258
 
jjsirius -

Why not abolish corporate FICA expenses too , add the difference to payroll taxes. UFB

I believe that when one refers to payroll taxes, one is really talking about the total of the company and the employee payments.

It is completely meaningless economically what the share breakdown is. If next week, 1/3rd of the companies changed to paying 100% of the payroll tax, another 1/3rd shifted 100% to the employees, and the final 1/3rd remained at a 50/50 split, there would not be a penny's difference in the company wage costs, the government's tax receipts, or the employee's take home pay for any of the companies. (possible exception - the tax code might need to be corrected for corporate and personal exemptions, but this is purely a technical consideration)

The reason for the current 50/50 split is purely political. It makes the tax burden look smaller than it would be otherwise for either employees or corporations.

Regards, Don
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