An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Friday, May 17, 2013
circuit — Impact of the US Payroll tax cut...and tax hike
This is a very informative (and short) piece by economists at the NY Fed on the effect of the 2011 US payroll tax cut and its recent expiration.
Good heavens – so if you feed money into household pockets they spend it, which raises demand and reduces unemployment. Who’d er thunk it?
ReplyDeleteWell we can’t have that, can we? I mean it makes much more sense to feed to money into the pockets of Wall Street criminals.