Romney Backs a Payroll Tax Cut
12:35 PM, Dec 3, 2009 • By MATTHEW CONTINETTI
It's among the pro-growth items in his op-ed for USA Today.
For further reading, check out NRO's virtual jobs summit. Here are two choice cuts:
"Unspent stimulus money meant for states and cities should go only to state and cities that use the funds to credibly cut their long-term spending. It's okay for municipalities to put some cash toward shoring up pension funds, for example, but only to ease the transition toward a revamp of public-employee pensions. The private sector can't grow when employers are spending much of their time trying to figure out how to pay or flee ever-rising municipal taxes," writes Nicole Gelinas.
"A perhaps more attractive way of stimulating employment might be offering payroll-tax relief. Michael Boskin has proposed a one-year partial payroll-tax cut while Greg Mankiw has called for a permanent payroll-tax cut funded by an increase in gasoline taxes. The permanent solution is the better one, though the gas-tax hike will raise hackles. It should go without saying that a tax reform that simplifies the tax code along the lines proposed by President Bush's tax-reform commission and that lowers the corporate-income tax would prove a permanent boon to the economy," writes Reihan Salam.