"80 percent of Americans pay more in payroll taxes than they do in income taxes. And because lower-income people would get most of the benefit, [money from cutting payroll taxes] is likely to be spent. [Cuts] would also give employers an extra incentive to hire because they’d save on their share of the payroll tax. And most of the incentive would be directed toward hiring lower-income workers – who have taken the biggest hit on jobs and pay during the recession."
Robert Reich UC Berkeley economics professor, former Secretary of Labor