Tuesday, December 20, 2011
Dean Baker on why the payroll tax holiday is a problemFollowing up on two earlier posts today, one quoting Dean Baker and the other on the payroll tax holiday, I see that Baker has commented on the payroll tax holiday! From Obama's stimulus failure Guardian 12/19/2011, where he puts it into the context of the longer reluctance of the Obama Administration to apply the level of stimulus needed to create a strong economic recovery:
As stimulus, this [the payroll tax holiday] is not an especially good measure. On a per-dollar basis, tax cuts will be much less effective, especially with people carrying so much debt, than direct spending. Furthermore, many of these tax dollars will go to better-off tax payers who are less willing to spend than moderate income families. The Making Work Pay tax credit was much better targeted.Tags: dean baker, social security
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No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."
-- Cecil Day-Lewis from Where Are The War Poets?
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