We already know the proposed $120 billion payroll tax cut in President Obama's deal with the Republicans poses tremendous risks to Social Security. Now, an analysis done by Nancy Altman, Co-Director of Social Security Works, reveals that it is altogether bad policy. The payroll tax cut would provide far more to Wall Street bankers and members of Congress than poor and middle class workers, who need the help more and are more likely to stimulate the economy with the money they receive.
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