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Obama's Gift To The Rich: A Permanent Payroll Tax Holiday, Richard Winchester
Obama's Gift To The Rich: A Permanent Payroll Tax Holiday, Richard Winchester
Richard Winchester
President Obama made a concerted effort to enact tax legislation that benefitted middle and lower income individuals over the rich. The temporary payroll tax cut in effect during 2011 and 2012 is a case in point. However, many high-income individuals enjoyed an even greater measure of payroll tax relief as a result of legislation that he signed. But instead of being granted directly under the terms of a bill, this relief was made possible because the tax legislation that he signed perpetuated what had been only a temporary incentive for individuals to avoid the payroll tax entirely when they work …