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