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An Attack on the Payroll Tax
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 Apr. 12, 2017 | RETIREMENT | … According to an April 9 report by the Associated Press, the Trump administration and House Republicans are looking at repealing the payroll tax as a way to put several thousand dollars a year more into the checkbooks of working- and lower-middle-class households. This 12.4 percent tax, split evenly between employers and employees, funds Social Security. The self-employed pay the full 12.4 percent tax…. It’s hard to know if this report is an intended leak – an old Washington tradition to float ideas to gauge reaction before taking a public stance, or a serious proposal that would fulfill House Speaker Paul Ryan’s long-held goal of turning Social Security into a hybrid public-private system, where Americans would give some of their savings to Wall Street to invest. Wall St. has long coveted those billions… alternet.org
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