Reduce the payroll tax rate by eliminating the cap, which will save social security for generations to come.
Why is this important?
The current payroll tax is regressive. Regardless of income, we all pay 4.2% payroll tax up to $110,100 in 2012. Why should the wage earners in the lower income brackets pay an equal amount or even more (percentage wise) than a high income earner? The rate can be lowered FOR ALL if there is no cap.
