If the economic crisis necessitates a second stimulus—and it probably will—then a payroll-tax holiday deserves a look. But it’s only half a good idea. A whole good idea would be to make a payroll-tax holiday the first step in an orderly transition to scrapping the payroll tax altogether and replacing the lost revenue with a package of levies on things that, unlike jobs, we want less rather than more of—things like pollution, carbon emissions, oil ... Full Story »
Posted by Leo Romero
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The idea looks like a thinly veiled attack upon the funding sources of social security and medicare, which provide services and support badly needed in a downturn, especially if it is in part a permanent downturn. The article seems captivated by the glimmer of a different idea and does not examine it in depth.
Adding taxes and tariffs on carbon emissions and pollution do not have to be tied to cuts in social security taxes. There is well financed ... More »
Interesting article about a payroll-tax holiday proposed by people across the political spectrum to help stimulate our economy. The idea is to scrap the payroll tax over time, give individual taxpayers a break, and replace the lost revenue with a package of taxes on pollution, carbon emissions and excessive consumption. Intriguing concept, with thoughtful perspectives from both conservatives and liberals on this complex but important issue.
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