What would be the effect if the tax were levied solely on wage income?

"The total of these benefits is probably three or four times the going wage income they would receive elsewhere."

In 1820, about 20% of the United States population was dependent on a wage income.

Workers save nothing and spend their wage income on consumption.

Manufacturers also get credit for more than a third of the rise in total private wage income since March.

"Even with capital gains, the wage income in Connecticut is quite high," he said.

From now on, workers' spending will depend more on wage income.

The study looked at four areas: job growth, the unemployment rate, wage income and factory workers' average weekly hours.

Payroll taxes hit all wage income equally up to a maximum of $51,300.

After the age of 70 wage income no longer limits Social Security benefits.