Posts Tagged ‘workers’

Just How Big is the Payroll Tax Cut?

The 2-percentage-point payroll tax cut extended by Congress in December and again last week will save workers a total of $114 billion this year, according to the Joint Committee on Taxation. Spread over nearly 160 million workers, that’s an average tax cut of $714. Yet the typical news report says “the average worker earning $50,000 […]

“Corporations are People” But Which People?

In a shouting match with a demonstrator at the Iowa State Fair yesterday, GOP presidential hopeful Mitt Romney argued against raising corporate taxes, asserting that “Corporations are people.” He’s right, of course, in both the legal sense—the law treats corporations as if they are people—and in the economic sense—what happens to corporations affects people. Corporations […]