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To: Logain Ablar who wrote (71145)	2/24/2001 3:02:53 AM
From: Don Lloyd	Respond to of 436258

Tim - ...The payroll tax is for funding retirement and medical care in retirement and only half of this is paid by the individual. The other 50% by business. ... Even liberal economists agree that the split of the payroll tax between business and the employee is of no economic consequence. The entire payroll tax is a cost of business that does not benefit the employee and the entire receipts are received and paid out again by the government in one form or another. Both business and the employee are harmed to the full extent of the total payroll tax and the percentage split between the business and the employee does not affect either the business cost or the size of the employee paycheck. It appears that progress has been made in that most liberals used to insist that FICA payments were a magic insurance premium payment, and not a tax. The fact that they now include the payroll tax to argue against tax cuts indicates that they have nearly abandoned the insurance argument. Regards, Don