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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (212779)	12/6/2004 4:35:24 PM
From: Tenchusatsu	Read Replies (1) \| Respond to of 1573766

JF, I agree... with the exception of cutting the payroll tax. The only reason for cutting the payroll tax is to reduce the impact that an extra 14% (7+7%) tax burden would impose on income above the current cap. Like I said, I haven't done the math yet, but simply eliminating the cap would represent a HUGE windfall in revenues ... and a major impact on upper-income tax filers. We could pay for the transition costs in just a few years, but the impact on the economy would be substantial. Lowering the payroll tax would lengthen the time it would take to pay off the costs, while at the same time softening the impact on the general economy. It also has the added benefit of giving low income wage earners a tax break, something they could use anyway. Tenchusatsu