Facebook SOTD: Payroll Tax
Fri, 09 Dec 2011 23:25:03 GMT —
A congressional battle is still brewing over payroll tax cuts.
In our Facebook Story of the Day you wanted to know how the cut might affect you.
Economists say the payroll tax cut isn't expected to be huge for everyday workers. It might be worth a tank of gas every two weeks.
"It's not going to be a large impact. It's going to be more of an impact when you take $20 or $30 per check and you multiply that multiple times, that's going to generate more economic activity. We probably won't even notice it," said Darton College Economist Aaron Johnson.
Economists say the real winners behind a payroll tax cut will likely be businesses. Lawmakers are hoping cutting the taxes on business may help them be able to hire more employees.