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Rob Portman calls for payroll tax holiday

By: Kevin Holtsberry (Diary)  |  December 4th, 2009 at 10:10 PM  | 

RESIZE: AAA

US Senate Candidate Rob Portman offers a rather bold proposal to stimulate the economy:

The Cincinnati Republican spoke in Cleveland Friday afternoon. Among his proposals was one that he maintains would jump-start both hiring, and spending.

Portman said “to spur immediate investment by employers and encourage consumption by employees; I support a one year payroll tax holiday. Beginning immediately…. for workers and employers on the first $50,000 of income.”

This idea has been debated within the context of the first stimulus package and has been a part of Newt Gingrich’s American Solutions plan since early summer.

I don’t think we can stimulate our way out of all of our economic troubles, and I am not sure how the tax holiday will play out, but it is certainly a lot better idea than what President Obama and Democrat leaders in Congress have come up with so far.

I hope to look into this issue more and offer a more detailed response. If Portman is serious I am sure this will be an issue on the campaign trail.

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COMMENTS

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  • cableguymn

    The revolt after the holiday was over would be unreal.

  • mikewparrish

    I mean, it’s bound to have a better shot at being “deficit neutral” than anything the Dems have dreamed up once the increase in business tax revenue is factored in…

    CBO… get to work on this. Oh wait, they can’t until someone actually does their job files a bill.

  • http://xmmlbchat.blogspot.com katesmith

    Mr. Portman I think will do fine without input from Gingrich a Global Warming author and advocate and recent cheerleader for Obama’s so-called Afghanistan plan. Perhaps Mr. Portman is a man of character, in which case I look forward to his thoughts.

    • Nick Haynes

      That’s like saying Barry Goldwater couldn’t be trusted on national security issues because he was pro-choice.

      Of course, feel free to keep it up–we’ll purify ourselves right into a permanent minority. But at least we’ll be able to say that we’re pure and righteous, huh?

    • Leopard1996

      Is to take good ideas and use them and throw away the bad ideas. We can’t be the ones that because of the person we don’t use their ideas. In this case we give Newt a pat on the head, say, “Good boy”, and push this idea. On the AGW garbage, or Scozzafava endorsement, we roll up the paper, smack him on the nose, and say, ‘Bad boy!”. We should leave the party purges to the dems, (ex, Liberman).

  • http://www.hakubi.us/ Neil Stevens

    Would this apply to Self Employment tax too?

    If not, don’t care, not interested.

  • Michael Dugas

    ..Of 10% unemployment. And since they say they’ve got a grip on the economy (more like our throats). ……G-d that’s rich…..
    And since we are finally on the right path to Sunshine, Unicorns, Rainbows and Social Justice AND since a majority of the “alleged” Stimulating Stimulus Money isn’t scheduled to be stolen and doled out until some time in 2010, they outta divie that ill gotten booty evenly amongst us “actual” tax paying citizens and stimulate our wallets with a little Christmas Cheer. Some acceptable forms of repayment might be to take that whole unused portion and just stack it up and burn it.
    That might actually take about 10 – 15% or so of the currency you have printed recently back out of circulation.
    Oh…I forgot…things like the actual value of an American Dollar don’t matter to The Ole Pres anymore…someone else is footing the bill for his Arugula these days.
    I know I know, take some of that Left Over, Unused, Less than Stimulating Stimulus Money and give our active service military, and their families, a decent, “realistic” cost of living raise and fix up the military hospitals. Since you are the President AND Comman…..Command……..man I just cant say it. I’ll be ill.

    I know I know, pipe dreams both of them but that was JUST two thoughts……
    And neither of those choices will cost lives, destroy wealth nor
    ruin the history and future of our nation like Tax and Steal and Obama’s Health Care Pyramid Scheme.

  • Stan(ley) Pruss

    Presently there is a max salary Social Security is assessed on. Would this raise the max also so it wouldn’t be a tax cut for “the rich”?

  • nessa

    Too many people do not realize the money the gov’t takes from them, painlessly, insiduously, each and every payday. This would be the first step to real tax reform in this country. Of course that’s why it’ll never happen, but hey, if we’re going to sniff unicorn farts I prefer this one to Crap and Tax, Healthcare, hell, anything in the progressives repertoire.