[lbo-talk] Jon Stewart on Cutting the Payroll Tax

[Jordan Hayes]

I've always heard that the reason the payroll taxes are regressive is so
that they can keep track of how much you put in so that it *looks like*
people are "saving" for their future.  Maintaining that fiction seems
less and less important these days ... I think I did a thumbnail sketch
once that found that if you didn't limit it to the first $N of income,
you could cut the rate to less than 1% and be revenue-neutral.  At that
point, it would be simple to put SS on-budget and get rid of the tax
altogether.

/jordan