I'm not a businessman nor am I an accountant. So, someone who is I'd appreciate some clarification here.
If you lower the regular tax rate (on individual wage earners), you reduce what people pay in taxes each year. But if you lower the payroll tax (for businesses), you reduce the quarterly payroll tax businesses pay on wages they pay to their employees. But wouldn't that also reduce the amount of taxes deducted from employee's paychecks thereby freeing up capital all around for everyone thereby putting more money in people's pockets thereby giving consumers more money to spend on commerce?
If true, why wouldn't you want that to happen since the law of supply and demand (something taught in high school economics classes) is based on consumer spending? And if consumers are demanding more of a product, does it not stand to reason that manufacturers would make more of said product that's in high demand? Seems to me reducing the payroll tax would be a win-win all around for everyone - businesses, employees, our nation's creditors (since consumers would pay taxes on the goods and services they buy; the down side, of course, could mean many of us likely pay more taxes at the end of the year), politicians (because some hate tax increases)?