The payroll tax in the United States is one of the most debilitating and crippling taxes “We the People” experience. Both the employee and the employer pay approximately a tax of 7.65% each on the employee’s wages. These taxes are supposed to fund Social Security and Medicare – two systems that are currently in the process of going belly up. They are so bloated and unsustainable that they both will be insolvent by around 2035, experts say.
Politicians have also ransacked these trust funds and stolen the money to fund other functions of government.
Wouldn’t It Be Nice?
Gee, wouldn’t it be nice to have 7.65% more of the money you earn?
“Government! Three fourths parasitic and the other fourth Stupid fumbling.”
? Robert A. Heinlein
I particularly enjoy this quote. For what is more parasitic and stupid than taxing Americans to the tune of just over 1 trillion dollars for…