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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: CalculatedRisk who wrote (4351)2/27/2004 5:08:28 PM
From: Lizzie Tudor  Read Replies (1) of 173976
 
Here it comes, what we've all been waiting for. The clash of worker groups demanding change in payroll taxes vs. retirees refusing to budge on benefits vs. republicans demanding tax cuts on passive and high income.

The Job-Killing Tax

Much has been written about how regressive payroll taxes are, yet far too little has been said about the impact of payroll taxes on employment. Anyone really worried about job creation should be concerned about the government becoming too reliant on a tax that discourages employers from hiring and employees from working.

Yet that is precisely what the payroll tax does. By raising the costs of hiring and reducing the rewards of hard-earned labor, a growing reliance on the payroll tax decreases both the demand and the supply of labor. That translates into fewer jobs, fewer workers, a smaller tax base and increasing economic woes.
tompaine.com
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