General Discussion
In reply to the discussion: Are you 'angry' over the end of the payroll tax holiday? [View all]hay rick
(9,753 posts)I expressed my disgust with the idea when it was implemented several times, including here: http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4650955&mesg_id=4651196
"...accepting this poisonous deal... will cripple future federal budgets by expanding the deficit and will also pave the way for gutting Social Security by allowing the Republicans and a compliant media to paint the normal employee contributions needed to sustain the program as "tax hikes" only one short year from now...The 'stimulus' the payroll tax holiday provides may help delay further immediate decline in the economy, but it is not of sufficient magnitude to turn the economy around. The difference between the proposed 2% holiday and the Making Work Pay rebates that it replaces is only on the order of $60 billion. A measure of it's futility is the fact that the Republicans are willing to sign on to it..."
One year turned into two, but the rest held up pretty well.