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Politics : PRESIDENT GEORGE W. BUSH
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To: DuckTapeSunroof who wrote (417763)6/23/2003 1:50:30 PM
From: Kenneth E. Phillipps  Read Replies (1) of 769670
 
Buddy, are we overly dependent on the payroll tax? During the past 3 years, we have the worst job losses since WW2. In the same period, we have the worst deterioration in the budget deficit since WW2. The two are related. The loss of jobs and loss of payroll tax revenue is largely to blame for the increasing deficit. Should we be more dependent on the income tax and less dependent on the payroll tax?
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