Tuesday, February 23, 2010

Payroll Tax Reprieve?

Thomas Oliver writes in the AJC that the Senate shold propose a payroll tax holiday for six months as a means to stimulate jobs. There is a current version of this that only applies to new hires who have been unemployed for 60 days. Oliver makes some very valid points.

Oliver references George Mason economist Russell Roberts who would eliminate the payroll tax altogether, end corporate welfare and make small across the board rate increase for all earners. This should effectively broaden the base, stabilize rates and eliminate targeted special interest credits.

Let me be the first (or millionth) to support the idea of eliminating payroll taxes and corporate wellfare.

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