[lbo-talk] Payroll tax cut extension

[Wojtek S]

I understand that, but in order to finance it out of the general
budget, they would need to increase the income tax rate, no?  So it
really depends if the increase is progressive.

Wojtek

On Fri, Feb 17, 2012 at 6:23 PM, Jordan Hayes <jmhayes at j-o-r-d-a-n.com> wrote:
>>> "and Social Security can finally be put onto the general budget"
>>
>>
>> [WS:] How would this reduce regressiveness?
>
>
> Because income taxes are more progressive than payroll taxes.  In fact, it's
> the income tax that's really the only progressive tax we have, and
> everything else -- payroll taxes, user fees, etc. -- works against it. Even
> state income taxes are usually only mildly progressive, which, compared to
> the federal ones, make them regressive.
>
> My slogan: get rid of all taxes except the income tax at the Federal level;
> and property taxes at the county level.
>
> /jordan
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-- 
Wojtek
http://wsokol.blogspot.com/