PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Srexley who wrote (565236)	4/15/2004 9:38:59 PM
From: Steve Dietrich	Read Replies (2) of 769670

<<They pay about 7 5/8% in FICA/MediCare,>> Most economists (including Republican economists) count the full 15% as paid by the employee as they figure the employer passed the cost along in lower wages. From the House of Representatives web site: house.gov Economists generally agree that the entire burden of the employer's share of the payroll tax is ultimately shifted to workers in the form of lower wages. Therefore, it is appropriate to include the employer's share of the payroll tax when analyzing the burden of the payroll tax. At any rate i'm sure you realize that those in the top bracket aren't actually paying that rate on all their income. Here's a chart of where federal revenue comes from: law.wustl.edu That's for 2002. For 2003, 55% of federal revenue comes from income taxes and 35% comes from employment taxes. So i hope you can see just how unfair it is to only talk about income taxes when employment taxes are running surpluses and are such a large part of the federal revenue pie while income taxes are running massive deficits. Steve Dietrich

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