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Technology Stocks : All About Sun Microsystems
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To: steve harris who wrote (59384)3/11/2004 2:12:56 PM
From: Steve Dietrich  Read Replies (2) of 64865
 
<<Bush give us income tax breaks. Everyone paying income tax got a cut. People that have no income were bitching, "where's my check?" Can you believe that?>>

The problem with this Republican talking point is most workers pay more in payroll taxes than they do in income taxes. Something like 25% of workers don't pay income taxes but all workers pay payroll taxes.

And it's the payroll tax surpluses that are being used to finance the income and estate tax cuts (taxes which are running huge deficits). Without the SS surpluses, the deficit would be more like $800 billion.

So taking payroll taxes from people who don't pay income taxes and giving that money to higher income people who pay income and estate taxes is a lot like stealing from the poor to give to the rich.

And i, for one, find that a little outrageous.

Steve Dietrich
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