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01 Dec 2010 10:49

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U.S.: Interesting Deficit Panel suggestion: Social Security payroll tax holiday?

  • Would giving everyone back their Social Security payroll taxes next year help the economy? It’s a somewhat wild idea, but one floated in the new report (along with a separate report by the Bipartisan Policy Center task force). The effect would be a noticeable increase in paycheck size and would cost a lot ($50 to $100 billion), but it could be the shot in the arm that the economy needs.¬†Come on, they’ve tried everything else, and this seems like something that both parties would actually go for without much grief. We’ll see.¬†source