Why GOP retreat on payroll tax cuts?

posted by
December 4, 2011
The Nation
by George Zornick  
Posted in Commentary, PND Commentary

"There was a time -- up until last night -- when Republicans would not support a payroll tax cut in order to goose the economy. The party swallowed it in last December’s agreement on the Bush tax rates, and so this year Americans were subject to a payroll tax rate of 4.2 percent instead of 6.2 percent. But in the ensuing months, most Republicans made it clear they wouldn’t support extending the payroll tax cut again because they felt it didn’t do enough and cost too much money. ... You may notice that these rationales are pretty thin." (11/30/11)

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