Reply #94: Question: [View All]

[ProSense]

How is Reich's temporary payroll tax holiday different from the one-year (temporary) payroll tax holiday that the President signed into law, the one that led to him being accused of trying to destroy Social Security?

Here is what I said, including the two links:

It's only a "double-cross" when Obama proposes it. When it's or anyone else, it's brilliant.

Here is what Reich said:

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How to get jobs back, then? By reigniting demand. Put more money in consumers’ pockets and help them renegotiate their mortgage loans.

For example: Enlarge the payroll tax break for workers — not just for employers. Exempt the first $20,000 of income from payroll taxes for a year. Create a WPA for the long-term unemployed. Allow distressed homeowners to declare bankruptcy on their primary residence, thereby giving them more clout with lenders to reorganize their mortgage loans. Lend federal money to (rather than bail out) states and cities that are now firing platoons of teachers, fire fighters, and other workers because state and local coffers are empty.

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