Cutting U.S. payroll taxes might help stop an economic slowdown but would cost the government hundreds of billions of dollars at a time of rising deficits, according to one estimate.
President Donald Trump said Tuesday that he’s “been thinking about payroll taxes for a long time. Many people would like to see that.” He told reporters during a White House meeting with Romania’s president that his administration was looking at “various tax reductions,” including cutting capital gains taxes by indexing them to inflation.
They estimate that cutting the employee-side Social Security payroll tax by two percentage points for two years would cost nearly $300 billion, before interest. Such a cut would mirror ones in 2011 and 2012, during the Obama administration.
Did you mean, Here's what the payroll tax cost Americans...?
The largest event defect in US history Oh! The Republi-KLANs have already achieved that!!
Chinese stealing from America for decades! China loves Joe Biden!!
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