Will extension of the two percent payroll tax cut help the economy? Most people say yes, but that it won’t affect their finances … Ummmmmm?
This from a recent Rasmussen poll:
Most voters agree that extending a 2% cut in the Social Security payroll tax for all of 2012 will be beneficial for the economy but won’t significantly impact their financial plans for the year. Congress signed off on a two-month extension of the tax cut last week but are hoping to extend it for all of 2012 when they reconvene after the holiday. A new Rasmussen Reports national telephone survey finds that 60% of Likely U.S. Voters believe that if the payroll tax cut is extended for the full year of 2012, it will help the economy at least a little. That includes 22% who think it will help the economy a lot. Only 10% feel extending the tax cut will hurt the economy, with just four percent (4%) who think it will hurt a lot.
Interestingly, in another Rasmussen survey 60% of respondents said government is the problem, not the solution. I wonder if voters have any idea what they want, except as George Meany famously said, “more.”
- Paul Kleyman: Media Fail to Tell Full “Tax Holiday” Story (huffingtonpost.com)
- Economix Blog: Bruce Bartlett:How Politics Came to Dominate Payroll Tax Debate (economix.blogs.nytimes.com)