If I was in office, the first bill I would present is a revision to the requirements on paystubs that show exact percentages being paid into each program, including employer portions of SS, Medicare, healthcare and all other payroll taxes/fees so employee recognize the total amount of outlay their employer has to hire and maintain their employment.
Additionally, I would revise the tax forms so the signatures are actually on a separate page, with a full breakdown, tax rates, and breakdown of everything being paid, both in total paid, and percentage of earnings. The filer would need to initial each line to ensure they reviewed it.
What is the definition of payroll tax?
Some say it is FICA tax. Some say it is income tax. And some say it is all taxes witheld from your payroll. Does anyone know what it really is? And why do all the media outlets not make this more clear?
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