But some analysts think the climate for reform of payroll taxes may improve. Social Security reform is likely to begin as early as next year, and welfare reform is provoking fresh efforts to improve job prospects for low-skilled workers. It is possible for the first time to imagine a political case, and not just an economic one, for reforming payroll taxes. This is probably more than he pays in income tax. The steady climb of payroll taxes From Franklin Roosevelt to Bill Clinton, the payroll-tax rates have gradually grown larger and larger.
Government relies more heavily on payroll taxes to fund a variety of functions.
They now account for nearly as much federal revenue as the income tax. Inc. All rights reserved.