Deal Near to Cut Payroll Tax

WSJ ONLINE ^ | 12/7/2010 | JONATHAN WEISMAN, JOHN D. MCKINNON And JANET HOOK

[CaptainK]

WASHINGTON—The White House and Republican lawmakers were close to an agreement on a broad tax package that would extend the Bush-era rate cuts, reduce worker payroll taxes for one year and give more favorable treatment to new business investments.

As the White House and Republican leaders try to reach a deal to extend cuts, one idea that could gain traction is a temporary payroll-tax holiday.

Other possible elements of the still-developing deal include a temporary reinstatement of the estate tax at 35%—the level favored by most Republican lawmakers—as well as an extension of jobless benefits for the long-term unemployed and temporary tax breaks for students and working families.

[Rome2000]

Estate taxes are nothing but grand larceny, and any GOP politician who goes along is no different than the red commies running the democrat party.

[VRWC For Truth]

Just breadcrumbs. Keep the federal MasterCard spending away with no ability to ever pay it off.

[pepperdog]

Pay roll tax holidays, in the past, have been nothing more than reducing withholding but requiring payback at the end of the year. Puts more people in more debt. If this is like the past it’s just smoke and mirrors and take your money.