Nouriel Roubini has a decent Op-Ed in the Washington Post today proposing a plan to use the revenues gained from letting the tax cuts for those making 250K a year expire to pay for a payroll tax cut for small and medium sized businesses. His arguments on job stimulus effect seem pretty sound to me but he doesn't really touch on the issue of consumer demand which ultimately drives a lot of the economy. However, I think that anything that decreases the unemployment rate will increase consumer demand, so his argument about how to make it cheaper for businesses to hire and how to get money into workers pockets quicker (by reducing the payroll tax) makes quite a bit of sense. Not sure if it is too late in the game to change the proposals floating around Congress but this seems like a fairly solid idea to me.
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