Subject: Payroll Taxes & the Gap Between Rich & Poor
Current increased payroll taxes on the first dollars earned are the cause for the growing gap between the rich and the poor in this country.
At 15.3%, payroll taxes create a huge barrier to upstart competition with existing businesses. Anyone who has gone into self-employment -the only real way to get ahead- has learned first-hand how steep and detrimental these taxes can be.
Under the current system, the poor and middle class have been paying not only for the retirement benefits of the elderly, but also for current general federal expenditures through general fund "borrowing" from SS tax receipts.
America once prided itself on being a land were even those who were born with nothing could rise to the top of the economic ladder. That dream is being eroded away.
Today we see that the rich are becoming richer and everyone else is stuck. Economic class mobility is declining. Social Security payroll taxes are a huge part of this problem.
