"The Get America Working! approach would work, in effect, by correcting a major price distortion. The current U.S. Internal Revenue Code taxes employment far more heavily than it does the use of natural resources. This distortion has grown progressively worse as payroll taxes have grown. Revising this distortion would increase employment, equity and overall economic vigor importantly. And it would do so by responding to market price signals, not through clumsy and expensive government interventions."
Will The Unemployment Disaster Be Obama's Katrina?
Date:
Mon, 11/23/2009
Source:
The Huffington Post
In this piece, the Huffington Post founder notes the serousness of the unemployment situation and faults the Obama administration for not being more proactive in job creation. Among the strategies she suggests: "Enact a one-year payroll tax holiday (creating a moratorium on Social Security, Medicare, and FICA taxes will encourage businesses to hire new workers)."
