Also, 25% of federal expenditures are funded by printing money, which is just a tax more like fica than income tax. Of course the other way of looking at it is

Also, 25% of federal expenditures are funded by printing money, which is just a tax more like fica than income tax. Of course the other way of looking at it is that fica ultimately just comes out of the pocket of the rich. If there were no payroll taxes, fica would just stay in the employers pockets. Employers are mostly the rich. Or may be it would get embezzled by the middle management due to increased principal agent problem without the payroll tax paper trail…