Tuesday, March 3, 2020

Cut payroll tax

Trump has proposed a payroll tax cut. This is the best way to help low income workers since everyone pays 7.65% into social security/Medicare. One half of all workers pay no income tax so a lower income tax rate will not help them but they all pay payroll tax. For someone earning $15 per hour this puts $2,300 per year into their pockets.

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