News
NY Times | Disagreement Over Payroll Tax Cut’s Impact on Social Security
For all of the partisan brawling over President Obama’s call to extend a temporary payroll tax cut for 160 million Americans, one concern is bipartisan: a significant minority of Democrats and Republicans say that cutting the taxes that finance Social Security benefits will further undermine the program.
Econ Comments
WSJ | Calling Obama's Payroll Tax Bluff
Obama billed last year's cut as a one-year holiday to boost the economy. Now preserving it is about fairness.
Bloomberg | Hypocrisy Proves Bipartisan in Payroll Tax Debate: Caroline Baum
President Barack Obama says the increase in employee-paid payroll taxes (back to 6.2 percent from the current 4.2 percent) will raise the average American family’s tax liability by $1,000, which translates to $83.34 per month or $38.46 per paycheck for those who get paid biweekly.
WSJ | The Keystone Ultimatum
Will Obama veto a tax holiday to stop a job-creating pipeline?
Blogs
Atlantic: McArdle | When it Comes to Taxes on the Poor, the Supply Siders are Right
Everyone I've spoken to about the problem seems to agree that the poor respond to these high marginal tax rates by either taking lower-paying jobs than they could, or working less--not in every individual case, but in aggregate.
