And I thought I thought of it first: a payroll tax reduction

Hello folks!

I have been saying for quite some time this year that one way to stimulate the economy andjob creation was to have a payroll tax holiday.  See the “game of chicken” post as an example.  Now the Obama Administration is discussing the same thing.

Late last night the Wall Street Journal was reporting the news that the U.S. Executive Branch was considering lowering the Social Security tax that workers pay from 6.2% of pay to 4.2%.  The net benefit to a worker making $50,000 is $1,000 additional dollars in the pocket.  Not bad, but honestly, if you really wanted to jump start the hiring wave the rate needs to be lowered even further.

At this point, the details are not important.  What is important is that the payroll tax reduction – which I thought of (thank you very much) earlier this year – is now on the national radar and seriously being considered.

I am headed to Alabama today to have a much more extensive interview with Suzie Wiley of WYAM in Alabama.  See you on the other side of the week!

Jason