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The Payroll Tax Cut Idea, Again
President Donald Trump has again come out in favor of a payroll tax cut to “ … help the American economy to continue to recover from the shutdown caused by the COVID-19 virus.” And once again, the debate on the wisdom of such a move has been set in motion. The main sticking point seems to be focused on exactly who would benefit from an escape from the 7.65% payroll tax, since those who most need help are those unemployed (and therefore not paying the tax in the first place). Couple that with the consequences of making a bad Social Security cash flow even worse, and you have fertile grounds for rigorous debate. An article posted today on boston25news.com/ by Debbie Lord, Cox Media Group National Content Desk, provides additional background on the issue. Check it out here…
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