In my humble opinion, one of the few bright spots of President Bush’s Presidency has been the tax cuts that have reduced the burdened the federal government places on hard-working Americans. That is why it is very unnerving to hear that the Administration is now talking with Democrats about forcing more taxpayers and small businesses to pay a greater portion of their incomes to the federal government in the form of payroll taxes.
Such a policy would result in the largest tax hike in U.S. history and would do nothing to solve the severe problems assoociated with Social Security. Rather than passing a massive tax hike in the hopes of propping up a system that robs younger workers of their money, President Bush should focus on solutions that give individuals greater control over their financial futures.
