A Quote by Mark Zandi

The extension and expansion of the payroll tax holidays for workers would be number one on my list and key to avoiding recession.

Mark Zandi

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Avoiding Expansion Extension Holidays Key List Number Payroll Payroll Tax Recession Tax Workers Would Would Be

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Mark Zandi
American - Economist

More retirees, longer life expectancy, larger benefits, and fewer workers - these trends have meant substantial increases in the payroll tax. Since the social security program began, the payroll tax has increased more than 500 percent.

Alex Tabarrok

A lifetime single worker really gets a horrid deal from Social Security. The return on average is less than 0.5 percent. These workers would be nearly better off stuffing their payroll tax dollars under a mattress.

Stephen Moore

I favor the extension of the middle-class tax cuts because in a recession they're stimulative and they help with demand.

Peter Welch

I'm all for lifting the payroll-tax cap, if only to make payroll taxes a little less regressive.

Timothy Noah

Hiking taxes on the so-called wealthy would help send us into a recession because so many small businesses report their income on individual tax returns. If taxes are raised, they will be less likely to be able to hire new workers and make new capital investments.

Ronald Kessler

I think it's time we had a President who will provide the only real economic security: good jobs. A President who will provide middle class payroll tax relief to get money in the pockets of workers who will spend it, not more tax giveaways for those at the top to stimulate the economy in the Cayman Islands and Bermuda. A President who will index the minimum wage to inflation and raise it from a 30 year low, not increase the tax burden on the middle class and those struggling to join it.

John F. Kerry

If you go from $7 to $15 in a very short period of time, potentially that could have a negative effect on some economies because that is a very big jump. And you're saying to businesses that employ a large number of minimum wage workers, your payroll is basically going to double. That could have a negative impact. It would have to be studied.

Andrew Cuomo

Did folks know that the tax to fund the program [Social Security] only hits salaries up to $110,000? That means that if you make a million bucks, about 90% of your salary is tax free when it comes to the payroll tax that funds Soc Sec. That ain't right.

Jared Bernstein

We were giving advice for the single-worst idea to come forward from a group that's been rife with them, it would be this: The idea is this: Let's make the tax code of America better for very rich people; let's give substantial tax relief to the richest people we can find. Forget about the person making $40,000 a year and paying Social Security payroll tax. Forget about all those other people paying income tax; we're here to give tax relief to the richest 2% of America.

Barney Frank

All those predictions about how much economic growth will be created by this, all of those new jobs, would be created by the things we wanted - the extension of unemployment insurance and middle class tax cuts. An estate tax for millionaires adds exactly zero jobs. A tax cut for billionaires - virtually none.

Anthony Weiner

I would give relief from the first $10,000 of the payroll tax. I would allow small businesses to accelerate depreciation so they would have an incentive to buy now rather than defer. I would also give to the states $40 billion of relief.

Bob Graham

The world is likely to view any temporary extension of the income tax cuts for the top two percent as a prelude to a long-term or permanent extension, and that would hurt economic recovery as well by undermining confidence that we're prepared to make a commitment today to bring down our future deficits.

Timothy Geithner

The marginal tax rate for high income earners is going up. Small businesses are no longer enjoying some of the exemption from payroll tax. Now there will be carbon taxes.

Chris Alexander

Legislation to create a new 10 percent tax bracket, reduce the marriage penalty, cut the tax rate on dividends and capital gains, and increase the child tax credit have been essential elements in this economic expansion.

Roger Wicker

And what would help minority workers are the same things that would help white workers: the opportunity to earn a living wage, the education and training that lead to such jobs, labor laws and tax laws that restore some balance to the distribution of the nation's wealth.

Barack Obama

I support both a Fair Tax and a Flat Tax plan that would dramatically streamline the tax system. A Fair Tax would replace all federal taxes on personal and corporate income with a single national tax on retail sales, while a Flat Tax would apply the same tax rate to all income with few if any deductions or exemptions.

Ralph Hall

A Quote by Mark Zandi

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