Oopsy!Payroll taxes go into the general fund and pay for everything the government pays for.Except they ARE paying federal taxes! All but the top-earning 20% of American families pay more in payroll taxes than in federal income taxes, according to a Treasury Department analysis.I've got an idea. Why don't you and Hillary get that 50% to pay federal taxes so they will have some money for infrastructure. After all, they are using the infrastructure for free and the rest of us are paying for them.
I was being sarcastic. Matthew wants federal spending for infrastructure in almost every post. Payroll taxes don't pay for one cent worth of federal infrastructure that everyone uses.
Has that changed in the last 5 years
"Various payroll taxes are withheld from an employee’s wages. The rates for Social Security taxes and Medicare taxes in 2011 are 4.2 percent and 1.45 percent, respectively. These taxes are used to pay for the federal programs: They are credited to the Social Security and Medicare trust funds, and the employee is credited with having paid into both.
Next is federal income tax, which is deposited into the U.S. Treasury general fund when the employer pays the withholding to the IRS. Employees are credited with the amount withheld against their federal income-tax liability when they file Form 1040."
And there is no SS lock box because Gore never became president.
I like that. "These taxes are used to pay for the federal programs." AND the federal programs that they are used to pay for are SOCIAL SECURITY AND MEDICARE.