Writing in The Wall Street Journal on April 27–making another last-ditch pitch for a 20% border tax on business imports–Martin Feldstein asserts that unless corporate tax rate cuts are “offset” by tax increases on imports or payrolls then larger projected deficits would crash the stock market by raising long-term interest rates. Show More Summary
President Donald Trump, who campaigned on a promise not to cut Social Security, is reportedly considering a plan to eliminate much of the payroll tax that funds the critical safety net program. According to the Associated Press on Monday,...Show More Summary
By Deirdre Fulton / Common Dreams President Trump is reportedly considering a tax plan to eliminate much of the payroll tax that funds the critical safety net program.
President Trump’s tax reform agenda is in trouble. That’s not news, but one proposal that his team has floated as a way, ostensibly, to cut taxes on the middle class is. According to the Associated Press, they’re toying with the idea of eliminating the payroll tax, which funds Social Security and...
We could spend all day wondering why MSNBC has Hugh Hewitt on their payroll. My theory is he makes the billionaire friends of Andy Lack and Phil Griffin think about their tax cuts some more. After the so-called president read some words...Show More Summary
The point is that a country like Italy or Greece is not trapped by being in the euro. It could increase its competitiveness by raising value-added taxes on consumption and cutting payroll taxes. That is from Arnold Kling, channeling Gita Gopinath. The interview with her at the link is worth reading. The post Euro sentences to ponder appeared first on Marginal REVOLUTION.
Donald Trump needs to pivot fast on his core economic program and embrace cutting payroll taxes for the working class, not income taxes for the elites. That means jettisoning the campaign's $3.3 trillion individual income tax cut (10-years),...Show More Summary
Much is being made this political season over the stagnant incomes of middle-class workers and what can be done to improve their living standards. Solutions have ranged from more targeted tax cuts—such as “payroll tax cuts, family-friendly...Show More Summary
Democrats are calling for higher-income workers to pay more in payroll taxes, while Republicans’ proposals focus on cutting benefits.
I've explained that a new House rule will make it harder to reapportion payroll taxes between Social Security's retirement and Disability Insurance (DI) trust funds to avert a one-fifth cut in benefits to severely impaired DI recipients in late 2016. Show More Summary
As Guy Benson reported earlier today, a new poll of likely voters conducted for Townhall by Gravis Marketing found that Rep. Bill Cassidy (R-LA)...
The Earned Income Tax Credit is one of the federal government's most successful anti-poverty programs. As House Budget Committee Chairman...
The ACT government proposes to implement a retrospective change to the payroll tax system which will apply from July 1 (although it is not expected to be passed until later in the year). This is the details of the change, as best I understand it. The change will affect most contractors who are employed via a recruitment [...]
Fed’s Fisher Says Economy Strengthening as Payrolls Rise (BBG) Russia Knows Europe Sanctions Ineffective With Tax Havens (BBG) EU Cuts Euro-Area Growth Outlook as Inflation Seen Slower (BBG) U.S. Firms With Irish Addresses Get Tax Breaks...Show More Summary
Put simply, a tax shift means to cut one tax and replace it with another—such as to cut income and/or payroll taxes, and put a carbon price in their place. This is called a “tax swap” or “revenue neutrality,” and a diverse group of stakeholders--ranging from Citizens Climate Lobby to ExxonMobil--are coming out in support of it. Show More Summary
I am viewed as being an opponent of fiscal stimulus, but I’ve always argued that an employer-side payroll tax cut would “work.” It just seems kind of pointless. If it’s a lower W/NGDP ratio that you need, just boost NGDP! Christina Romer has also advocated this sort of payroll tax cut. It lowers a country’s […]
Among President François Hollande’s proposed changes – while dealing with revelations of his supposed infidelity with an actress – was a pledge to cut public spending and slash the payroll taxes for business.
At the beginning of this year, many Americans opened their paychecks to find that their take-home pay was suddenly less than it had been the previous month. The payroll tax cut had expired, resulting in the average American worker owing an additional $700 in payroll taxes this year compared to last.
High earners will see $7254 in Social Security tax withheld in 2014, a stiff increase from $4624 in 2012 when a temporary payroll tax cut was in effect.