Brief Higher Payroll Taxes? Why?
Harry Holzer
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[United Press International] Would most Americans be in favor of raising payroll taxes on the middle class to finance huge income tax cuts for the rich? Unquestionably, no. Yet, that is exactly what President Bush is now proposing. He argues for cutting tax rates on high-income families, eliminating all estate taxes, and tax-sheltering most of their savingsall of which would be financed by the steep payroll taxes that workers in lower-to-middle income families have been paying for decades.
Research Areas Economic mobility and inequality Wealth and financial well-being Taxes and budgets
Tags Fiscal policy Wages and nonwage compensation Individual taxes Federal budget and economy Income and wealth distribution Wages and economic mobility