Tapsearch Com EditorUnemployment count and payroll tax not real
January 6th 2010 03:45
Bizarre Politics Reports:
One third of all Americans are unemployed or underemployed
Payroll Tax acts as a flat tax on the working poor
When I worked at several factories while going to college, I never thought that these jobs would be lost too. We now have a generation of underemployed workers and the unemployed following behind them. I see articles and ads about people advoiding hiring workers in order to avoid the overhead of payroll taxes too. Imagine having to compete in a global economy with an automatic overhead of 15 percent to start with. This is the overhead the American workers carry with them in the global economic arena. The payroll tax is branded as being a way to pay for social security and medicare but it is used in the general fund the same as all other taxes. Even President Clinton admitted he used the social security trust fund to fight the Balkan wars.
Recently, a college president complained he had to turn away many students from the college work programs since the college would have to start paying the payroll taxes on the work study programs. The president said that many students that could have received an education can no longer be admitted. The president should have extended his remarks or some economic professor should have added that this overhead applys to all the businesses where the college graduates would eventually apply for a job.
The working poor class is hit hard. For example, a single independent worker who contracts work and who makes only $10,000 a year has to pay $1,500 just in payroll taxes. When other state and local taxes are included, the $10,000 year worker will be paying close to 25 percent of his total income in taxes. Three in four workers now pay more in payroll taxes than a pay in income tax. Yet, the payroll tax is never considered in any tax cut. And as we mentioned before this tax is used in the general fund just like income tax is. If any political or economic leader at any sense, they would merge the taxes into just one and at least take the overhead off American workers. In the end the college president, the U.S. president and the economic leaders promote the global economy at the expense of American workers. Tariffs have been taken off products and put on the workers of America.
President Obama comes and ignores these negatives and bails out big money and the financial community instead. In essence he put a tariff on future generations to come without a single comment about what really caused the economic crisis.
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