Workers are a key pillar of the US economy. The payroll taxes that the government collects from their wages sustains two critical programs that benefit tens of millions of Americans: Social Security and Medicare.
However, they’re now shouldering more of the tax burden compared to corporations.
Recent research from Emmanuel Saez and Gabriel Zucman — two progressive economists at the University of California, Berkeley — shows that payroll taxes on workers now makes up a significantly larger portion of national income compared to corporate taxes, which has steadily been on the decline for decades.
Markets Insider