November 24, 2013

Government Continues to Mislead Taxpayers


[From article]
The economics specialty that reveals this is known as the incidence of taxation. The burden of a tax is not necessarily borne by the party upon whom it is levied. The Joint Committee on Taxation held that "both the employee's and employer's share of the payroll tax is borne by the employee." The Congressional Budget Office "assumes — as do most economists — that employers' share of payroll taxes is passed on to employees in the form of lower wages than would otherwise be paid." Health insurance is not an employer gift, either.
Another part of Social Security and Medicare deception is that the taxes are officially called FICA, which stands for Federal Insurance Contributions Act. First, it's not an insurance program. More importantly, the word "contribution" implies something voluntary. Its synonyms are alms, benefaction, beneficence, charity, donation and philanthropy. Which one of those synonyms comes close to describing how Congress gets Social Security and Medicare money from us?

http://jewishworldreview.com/cols/williamns112013.php3#.UpJrtt00i6Y

Jewish World Review
Nov. 20, 2013/ 17 Kislev, 5774
Do Americans Prefer Deception?
By Walter Williams

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