Reid’s Payroll Tax Deception
The health-care bill the Senate will take up after Thanksgiving offers so many rich targets for criticism it’s hard to know where to start. But the folks over at e21 offer a great brief analysis of one of the most dishonest and cynical ploys in the bill — the increase in the Medicare payroll tax, which would raise money not for Medicare but for the new health-care entitlement (though, thanks to an accounting gimmick, would nonetheless also be counted as part of the Medicare Trust Fund), and which would not be indexed for inflation, and so would raise taxes on more and more workers each year.
And more generally, if you haven’t discovered e21 yet, you should take a look at the rest of their site. It’s a great one-stop shop for both accessible economic analysis and the best new pro-market economic ideas.