I've never supported a wage tax and I've never supported a payroll tax.
More retirees, longer life expectancy, larger benefits, and fewer workers - these trends have meant substantial increases in the payroll tax. Since the social security program began, the payroll tax has increased more than 500 percent.
I'm all for lifting the payroll-tax cap, if only to make payroll taxes a little less regressive.
Did folks know that the tax to fund the program [Social Security] only hits salaries up to $110,000? That means that if you make a million bucks, about 90% of your salary is tax free when it comes to the payroll tax that funds Soc Sec. That ain't right.
The woman that comes in, takes the wastebasket away, she's paying 15.3 or whatever it is on payroll tax alone. I mean it is - I never had it so good.
The marginal tax rate for high income earners is going up. Small businesses are no longer enjoying some of the exemption from payroll tax. Now there will be carbon taxes.
I actually once sat at the back of a payroll class in America - just me and 40 women! And I'm sitting back there, learning payroll, because I want to understand it. So that when I talk to people about payroll I know what they're talking about. And I set up and managed and ran a full payroll system myself.
I can make a firm pledge, under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.
Republicans want to punish work and reward wealth; hence the high payroll tax and the low dividend tax. Said one Bush economic adviser, if we can't help wealthy investors and screw working people, what's the point in being a Republican?
In 2010 the U.S. will have a payroll tax rate increase, an estate tax increase, and income tax increases. There's also a tax increase coming in 2010 on carried interest. This rate will rise from its current level of 15 percent to 35 percent, and then it will rise again in 2011.
Ive never taken a vacation. Ive never been to Europe. Every time I planned to do something big, I got a job, and I could never pass that up.
We're paying maybe 25 percent of the income tax, but the payroll tax is over a third of the receipts of the federal government. And they don't take that from me on capital gains. They don't take that from me on dividends.
It has to have a payroll tax that's dedicated to Social Security. The Social Security tax has been very successful over the years in raising almost all of our elderly citizens out of poverty.
We were giving advice for the single-worst idea to come forward from a group that's been rife with them, it would be this: The idea is this: Let's make the tax code of America better for very rich people; let's give substantial tax relief to the richest people we can find. Forget about the person making $40,000 a year and paying Social Security payroll tax. Forget about all those other people paying income tax; we're here to give tax relief to the richest 2% of America.
I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've ever paid in my life. Now, that's crazy. And if you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or whomever around their office. On average. And so I think that actually people in my situation should be paying more tax. I think the rest of the country should be paying less.
If we lower the payroll tax, will Americans let us raise it again? I don't think so.