Ashby releases proposal to change how we collect Social Security taxes; Will make US labor more competitive, reduce offshoring and move to contractors

St. Louis, MO, August 3, 2024 — Blake Ashby, the Better Party's candidate for MO's 1st Congressional District, released a policy proposal calling for a change in how the Employer portion of Social Security and Medicare is taxed.  

“How we currently tax and collect the Employer’s portion of Social Security and Medicare is hurting our economy” Ashby noted.  “It penalizes companies that hire US workers by increasing costs and creates pressure to move jobs overseas or to contractors or gig workers.”  Ashby proposed decoupling FICA from US employment and instead basing it on a company’s US revenue.  This change would reduce the cost of hiring US workers.  The winners would be any company with US workers.  The losers would be companies that produce overseas or use contractors instead of employees.
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Every company that sells its products and services benefits from Social Security, because it creates a base of consumers and stabilizes our economic cycles.  Ashby noted “Currently US employers subsidize foreign manufacturers.  It’s not fair to US companies, and its hurting our workers.  We need to move to a more equitable system where every company, domestic and foreign, pays their fair share.”  Ashby noted that the change was doable under our current tax system, since companies already have to report their US revenue.

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