Archive for the ‘med’ Category

Background: Here’s a way to raise tax revenues & create jobs.

December 20, 2012

In the fiscal cliff talks, I think that the Feds – both Obama & Congress – are demonstrating “no brain” thinking – working ineffectively on the wrong stuff.

* * * * *
Specifically, in the fiscal cliff talks, practically all of the focus has been on jacking up the marginal tax rates for millionaires and billionaires making more than $250,000
.

Payroll taxes – for Social Security & Medicare – have been largely pushed off-stage.

That’s because both Dems & the GOP seem to agree that the 2% payroll “tax holiday” should be allowed to expire.

That may be true, but I think the payroll tax structure may be the key to hitting the seemingly conflicting objectives of raising tax revenues and creating jobs.

* * * * *
Let’s lay out some basics:

What happens to whom if the current payroll tax holiday expires?

(more…)


%d bloggers like this: