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payroll tax
White House Ponders Business Tax Cuts
By not in system - AOL News(Sept. 3) -- As a dismal July jobs report is released, news comes from The Washington Post that the White House is "seriously weighing a package of business tax breaks ... to spur hiring." The news revamps an earlier debate in the blogosphere back when the cuts were somewhat more hazy and theoretical. Bloggers on the left and right are both welcoming the idea of putting a payroll tax cut on the table. Many also wonder: Why did this take so long? 'Too Late'? The Guardian's Michael Tomasky says that "these aren't bad ideas. Many liberals agree that a payroll-tax holiday in particular is useful ...
State Unemployment Funds Going Bankrupt in Recession
By David Sessions - Politics DailyThe recession has sent 25 state unemployment funds into bankruptcy, and the Department of Labor predicts the number will reach 40 in the next two years, the Washington Post reports. States whose jobless funds have already dried up have borrowed $24 billion from the federal government to cover the gaps, and a total of $90 billion will be needed to keep the funds operating by 2011. Unemployment programs are funded by a payroll tax on employers and collected at a rate that is supposed to keep them solvent, but low-business-tax movements have made them unsustainable. The shortfalls have led to ...
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