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View Diary: Republican War on the IRS Costs U.S. Billions (31 comments)

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  •  Since the republican plan,, (1+ / 0-)
    Recommended by:
    Calamity Jean

    is to shift more of the burden onto payroll taxes enforcement is no problem. Employers do all the work.

    Payroll taxes, which fund Social Security tax, Medicare Hospital Insurance (HI), unemployment compensation, and various smaller retirement programs, accounted for 34 percent of federal revenues in 2007, roughly $870 billion.
    The payroll tax share of federal revenues has grown from about one-sixth in 1960 to more than one-third today, in large part because of Medicare’s advent in 1965 and a sharp increase in Social Security taxes in 1983
         Automatic taxing of only the first 106,000 of earned income, rather than capital gains, is a key part of the republican agenda.

    ",,, the Political whorehouse that is Fox News." Keith Olbermann

    by irate on Fri Jan 13, 2012 at 04:19:28 AM PST

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