Mrcauser’s Weblog

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My vote is for sale……

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Send me a big check and I’ll register Independent and vote. I know how to cure the recession, not cure the Depression, send me a big check and I’ll pay off old debts, pay for health care insurance, buy another house, and anything else I can use. Unlike most everyone else I’ll even start a new business and in 2 years draw my Social Security and give my Walmart job to someone else.

How about you?

Administration’s September Rollout: Big Payroll Tax Cut | FDL News Desk

However, the article suggests that the payroll tax cut would be both temporary and limited to the employer side of the tax, which damages its effectiveness significantly. “This is zero stimulus, it’s just handing money to employers, a bit lower on my priority list than beating my head against the wall until it bleeds,” Baker says. He frets that a business-side tax cut will just put more money on the sidelines, in addition to the $1.6 trillion that businesses have already set aside, without any incentive to hire.

If you accept the premise that Republicans will block anything, there are plenty other options out there, Baker says. “In terms of boosting the economy, they should have some money spent on jobs programs for hard hit areas (e.g. Detroit), a lot of money for aid to the states, a lot of money for rebuilding the infrastructure (focus on rails), money for weatherization, and work share. Tax cuts for moderate income people are fine. Give a 7 percent work credit up to $30k and then freeze it for higher income people.”

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Written by mrcauser

September 5, 2010 at 6:57 pm

Posted in Uncategorized

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