From The End of Social Security:
President Obama and the Republicans will say that the payroll tax holiday is all about stimulating the economy. But don’t be fooled. According to the Center for Budget and Policy Priorities,extending the Making Work Pay Tax Credit, is a much better, more targeted stimulus. See "Payroll Tax Holiday a Poor Stimulus Idea," available at this link.
And the Making Work Pay Tax Credit poses no threat to Social Security. The innocent-sounding payroll tax holiday, on the other hand, will lead inexorably to killing Social Security.
If the Dems are unwilling to let the Bush cuts expire, what makes anyone think they'll dare undo this "holiday"?
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