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Payroll Tax Quotes
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.
The clearest way to cut some of this fiscal drag would be to extend the current payroll tax holiday and increase it - as proposed by President Barack Obama. This would cut the fiscal drag by almost half.
The extension and expansion of the payroll tax holidays for workers would be number one on my list and key to avoiding recession.
I would give relief from the first $10,000 of the payroll tax. I would allow small businesses to accelerate depreciation so they would have an incentive to buy now rather than defer. I would also give to the states $40 billion of relief.
I think that for the next short period of time, our No. 1 priority is Congress needs to do its work and extend the payroll tax cut.
I've never supported a wage tax and I've never supported a payroll tax.
It is all very well and it sounds very seductive to say we are going to have harmonisation of regulations, but for example the way that funds are distributed around the states these days, you are positively penalised if you actually want to have say a lower payroll tax or sort of conditions.
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.
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