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Stock impact report

Economists question whether a payroll tax cut would be worth ballooning the deficit [USA TODAY]

McDonald's Corp (MCD)  More Company Research Source: USA TODAY
Last mcdonald's corp earnings: 4/30 06:58 am Check Earnings Report
US:NYSE Investor Relations: corporate.mcdonalds.com/mcd/investors.html
PDF Economists question whether a payroll tax cut would be worth ballooning the deficit CLOSE Taxpayers are accustomed to receiving big refunds after filing, but experts warn that with new laws more people could end up owing the IRS. Veuer's Justin Kircher has the details. Buzz60 CONNECT TWEET LINKEDIN COMMENT EMAIL MORE The Trump administration is reportedly considering a payroll tax cut for American workers in an effort to bolster consumer spending and stave off a possible recession. USA TODAY economics reporter Paul Davidson explains what the tax is and whether a cut, which would have to be passed by Congress, would boost the economy. What are payroll taxes? Payroll taxes come out of the paychecks of the vast majority of American workers and are used to finance Social Security, Medicare, unemployment insurance and other social safety net programs. The payroll tax that would be cut is the one that funds Social Security programs. That generated $855 billion last year, according to the Pe [Read more]
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