Lower the payroll tax for people who make less than 110,000 and remove the cap for people who make more than 110,000.

If you have a pre-tax income of $50,000 per year, the fiscal-cliff deal means that you will pay about a thousand dollars more in payroll taxes in 2013. If your income is $111,000, you will pay about two thousand two hundred dollars more. And if you earn a million dollars you will pay—also two thousand two hundred dollars. (The Wall Street Journal has a calculator.) There is a cap, which means that the working poor and middle class pay a higher proportion of their income than the rich. And the richer one gets, the greater the unfairness

Created by A.M. on February 13, 2013

Economy & Jobs