What About The Payroll-Tax Holiday Idea?
It’s interesting that tax cuts have taken a central role in the fiscal-stimulus debate. (We really should be debating whether a massive fiscal stimulus is even the correct approach to the current economic, housing and financial crises. But since conventional wisdom has already hardened around that, forget about it.) In orthodox Keynesianism (perhaps last seen during the Kennedy Administration), tax cuts were the accepted way | Read More »