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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Earlie who wrote (23855)	2/17/2005 10:55:48 PM
From: mishedlo	Read Replies (2) of 116555

If you want waffles look no further Treasury´s Snow: Bush didn´t ´embrace´ payroll cap hike Thursday, February 17, 2005 10:59:15 PM Treasury's Snow: Bush didn't 'embrace' payroll cap hike WASHINGTON (AFX) -- President Bush has "never embraced" raising the cap on the Social Security payroll tax to help defray the costs of creating private investment accounts, but the concept is "on the table," Treasury Secretary John Snow said on Thursday. Bush earlier this week signaled he was open to hiking the indexed cap, which is currently at $90,000, but reiterated he would not consider raising the payroll tax rate, which stands at 12.4 percent. "The president's reaching out to the Democrats" in an effort to build support for an accounts plan, Snow told CNBC. Some Republicans have urged the president to consider raising the cap as high as $200,000 forexstreet.com

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