Tools | Bookmark & Share | Make MrWhy My Homepage
MrWhy.com
Go
MrWhy.com » Videos » Senator Obama’s Social Security Tax Plan
Senator Obama’s Social Security Tax Plan
Senator Obama’s Social Security Tax Plan
Report
Senator Obama’s Social Security Tax Plan
In addition to several other tax increases, Senator Barack Obama wants to increase the Social Security payroll tax burden by imposing the tax on income above $250,000. This would be a sharp departure from current law, which only requires that the tax be imposed on the amount of income needed to "pay for" promised benefits. But more important, at least from an economic perspective, the Senator’s initiative would increase the top tax rate on productive behavior by as much as 12 percentage points - and this would be in addition to his proposal to kill the 2003 tax rate reductions and further boost the top rate by 4.6 percentage points. This mini-documentary explains why a big tax rate increase on highly productive people would be very damaging to America's prosperity, especially in a competitive global economy. Simply stated, pushing top tax rates in the United States to French and German levels means at least some degree of French-style and German-style economic stagnation.
Channel: Capitol Hub
Category: Government
Video Length: 554
Date Found: October 06, 2009
Date Produced:
View Count: 1
 
MrWhy.com Special Offers
1
2
3
4
5
 
About Us: About MrWhy.com | Advertise on MrWhy.com | Contact MrWhy.com | Privacy Policy | MrWhy.com Partners
Answers: Questions and Answers | Browse by Category
Comparison Shopping: Comparison Shopping | Browse by Category | Top Searches
Shop eBay: Shop eBay | Browse by Category
Shop Amazon: Shop Amazon | Browse by Category
Videos: Video Search | Browse by Category
Web Search: Web Search | Browse by Searches
Copyright © 2011 MrWhy.com. All rights reserved.