The very concept of a temporary payroll tax holiday is premised on “the faulty Keynesian stimulus philosophy,”
The Senate’s Awful Two-Month Payroll Tax Plan
Congress still has yet to act on an important issue: renewal of the payroll tax “holiday,” which is set to expire at the end of the year.
Instead, lawmakers are playing political games. The Senate passed a temporary two-month extension of the tax break–and then left town, daring the House to reject it. (The House did reject it, holding out for at a one-year extension–a policy even President Obama favors–and some modest reforms.)
The Senate’s two-month extension, The Heritage Foundation’s Alison Fraser explains, is awful policy:
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The Heritage Foundation is the nation’s most broadly supported public policy research institute, with more than 453,000 individual, foundation and corporate donors. Heritage, founded in February 1973, mission is
to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense.
