Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: SUNDAY, February 17, 1991 TAG: 9102170278 SECTION: VIRGINIA PAGE: D-5 EDITION: METRO SOURCE: DATELINE: RICHMOND LENGTH: Short
The New York Democrat said the tax is regressive, because it falls heaviest on middle-income taxpayers. Unlike the income tax, which is progressive and falls heaviest on the wealthy, the payroll tax isn't levied on income in excess of $51,300.
"The president of the United States and the Republican leadership do not want this Democratic tax cut because they will have to find this money elsewhere," Moynihan said. - Associated Press
by CNB