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  • payroll tax holiday

    Quiet Before the Storm: CBO Reports $642 Billion Deficit in 2013

    At $642 billion, the Congressional Budget Office (CBO) reports, the 2013 deficit will be lower by $200 billion than previously forecast. In February, the CBO projected a deficit of spending over revenue of $845 billion, but a large and temporary boost in revenues is pushing that figure down. Like the … More

    Smaller Paycheck? Welcome to Obama's Post-Fiscal-Cliff World

    Working Americans receiving their first full paycheck of the year may have had a rude awakening today. Despite all the President’s promises not to raise taxes on the middle class, he did exactly that. By allowing the payroll tax holiday to expire at the end of 2012, President Obama and … More

    What About the Payroll Tax, Mr. President?

    Finally, President Obama has awakened to at least a part of Taxmageddon as it barrels down on American taxpayers next year and drags down job growth this year. Was he previously unaware of it? Did he just decide it matters, given the recent pattern of weak job growth? So the … More

    Boehner's Payroll Tax Holiday Still Not Stimulus, but Extension Still Easy Call

    This is no time to be raising taxes on anyone. This is sufficiently obvious that even President Obama and House Republicans agree on it. And so now all sides support a simple extension of the payroll tax holiday through 2012. Hallelujah. It’s about time. The payroll tax holiday began in … More

    What the HIRE Act Giveth, the Rest of Obama Agenda Taketh Away

    The latest attempt by Congress to wrestle the high unemployment rate is the HIRE Act, which is little more than a tax holiday for companies who hire additional workers. Even if this Act works as intended and encourages businesses to hire more workers, which in and of itself is not … More