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For the last fourteen years, I have advocated the elimination of all payroll taxes - including those for social security and unemployment compensation - and the replacement of that revenue in the form of pollution taxes - principally on CO2.
Al Gore
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Low unemployment numbers are clear indicators that Republican tax relief and economic policies are spurring growth and helping businesses hire new workers while providing American families with job security.
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If we do not act now to strengthen Social Security, the system that so many depend upon today will be unable to meet its promises to tomorrow's retirees, and it will burden our children and grandchildren with exhaustive taxes.
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Because what happens is, as the economy suffers, tax revenues go down. But unlike businesses, where at least your variable costs go down, in government your variable costs go up: unemployment insurance, workmen's compensation, health care benefits, welfare, you name it.
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By 1980, the work of Feldstein, Boskin, Summers, and others had convinced many economists that U.S. taxes were in fact a significant obstacle to investment. Nor was this all: another major U.S. policy, the Social Security system, was also discouraging saving and investment.
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For my constituents, owning a home is the culmination of many years of hard work and the realization of the American Dream. At no time should a local entity take those years of hard work solely to increase their tax revenue.
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