Have you ever thought about the lack of issues surrounding the payroll tax? There are no fights over deductions, credit, or exemptions. Few people change business plans to deal with this tax code. This is the most straight-forward and easy tax to figure out. The tax rate is far lower than the heavily progressive income tax and brings in almost as much money because of the lack of deduction, credit, and exemptions. |
My proposals are much more like a system of payroll taxes than progressive income taxes, although the top cap on the payroll would be removed. This is not for S.S or Medicare; these transition away from being government programs. |