Under whose administration will you pay more tax?google.com
Added 2800 days ago in Business
realclearpolitics.com — A major strategist in John McCain's campaign was asked privately this week whether his candidate might propose cutting the payroll tax. "Yes," came the reply. "No problem. Not a big deal." He was wrong on both scores. Cutting the payroll tax, which funds Social Security, is not easy but offers a rich economic prize in this lean Republican year.

Republicans have been wary of touching the Social Security third rail of politics, ever since a re-elected President George W. Bush abandoned his reform under withering Democratic fire. Moreover, Republicans talk about offsetting payroll tax revenue loss by cutting future Social Security benefits, which contains seeds of electoral catastrophe.

Neither McCain nor his advisers seem to realize the value of the political prize that they can grasp. The regressive payroll tax oppresses most Americans, especially young men and women, and burdens small businesses that must match the tax that their employees pay. With dogma-bound Democrats unable to remedy this, the GOP has an opportunity to reach out beyond top-bracket taxpayers, big business and high finance.

About 41 percent of Americans have no income tax liability or do not file a return. But every wage-earner is hit by the payroll tax, amounting to more than they pay in income taxes for 86 percent of them. Young people are stunned when they find out how much is withheld from their first paycheck, labeled FICA. As they marry, have children and earn more money, they hate the 6.2 percent taken out of their first $97,500. In 1990, then-Sen. Robert Kasten, R-Wis., wrote, "These excessive taxes have struck at the heart of the American family.

As part of Democratic obsession with making a progressive tax system still more progressive and redistributing income, Obama actually would raise the $97,500 cap on the payroll tax, and his $500 tax credit would not change payroll tax withholding for employee or employer. There is an open field for John McCain, if he has the wit and will to enter it.

Posted by Jon70
53 Votes
Under whose administration will you pay more tax?
Obama or Clinton
John McCain
This is not a scientific survey, click here to learn more. Results may not total 100% due to rounding and voting descrepencies.
User Comments
Posted 2800 days ago
0 up votes, 0 down votes
That's why Ron Paul was the best. Now you go with second best, and look forward for the next election. The War is costing way too much.
Posted 2800 days ago
0 up votes, 0 down votes
yeah right! .....and I am the governments of China, Singapore, Abu Dhabi and Saudi - I will forever keep accepting those little bits of paper you give me as IOUs every month instead of something more valuable like your companies, your land and your resources.

You call them Treasuries, I call them Trasheries and instead of building up your infrastructure, you cut taxes and use the money I lend you to fight wars.
Posted 2800 days ago
0 up votes, 0 down votes
hahahaha.. i cant wait to own all your grandchildren.
Posted 2800 days ago
0 up votes, 0 down votes
John Mc Cain is a flip-flopper. He will be like the first Pres Bush who raised taxes under his administration. McCain want to continue with a military presence in Iraq for at leat 50 years; he would have to raise taxes to pay for our continue occupation there.

The Republican voters should have supported Ron Paul. Now Sen Obama is a much better choice than 'misspoke or sleep deprived' Hillary Clinton or John McCain.
Posted 2799 days ago
0 up votes, 0 down votes
I agree with the below individuals. Ron Paul was an unknown. However, there is one by to ensure that ALL tax payers pay the bill is establish a "Fair Tax" without any loopholes, etc. Therefore, greater amount of dollars can be placed into the Tresuary and can assist with all the current and future shortfall that this country will be facing in the near and far-term years.
You will have 2 minutes to edit your comment.

Add your comments