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Payroll tax reduction is only a short-term fix
The Gazette Opinion Staff
Jan. 7, 2012 11:38 pm
If the average wage in Iowa is $45,000, a 2.5 percent reduction in payroll tax (Social Security payment) equals $1,125 per year, or $21.63 per week. This will buy a 24-can/bottle case of Budweiser and maybe some change.
Good grief! This is no more than a short-term deal as is stimulus to teachers, firefighters and police that President Clinton did years ago. At the end of the short-term stimulus, the states or in this case me who is retired, picks up the tab. Social Security is already in trouble. This deal only increases the problems. But, the R's are right, make the deal a year so that business (which always takes the costs in its bottom line) can plan. This is no more than used oats!
John Stiegelmeyer
Vinton
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