Once the tax holiday ends, gas prices may be higher than before the tax.
FORBES: Don't Cut The Gas Tax For Summer Holidays, Double It
The payroll tax holiday is the silliest idea in this triptych of terrible tax policy.
Well, something else McCain has suggested is a gas tax holiday from the federal gas tax.
The House back-benchers now demand a one year extension of the payroll tax holiday.
FORBES: A Two-Month Payroll Tax Cut Is Dumb, And So Is How Congress Got There
Why the shift away from Making Work Pay and towards the payroll tax holiday?
At that time, the Bush tax cuts will expire and the payroll tax holiday will end.
There is a separate argument about how to pay for extending the payroll tax holiday.
FORBES: Payroll Tax Holiday: Better Than Nothing, But Still Not Very Good
The payroll tax holiday will expire, and that rate will rise to 6.2% from 4.2%.
FORBES: Fiscal Cliff: Republicans Raised Taxes And Redefined Wealth In America
Congress has been signaling for months that they would not extend the payroll tax holiday.
FORBES: The World Will Keep Turning, Even With The Expiration Of The Payroll Tax Cuts
Remember, your insurance agent is selling you a deferral, not a tax holiday.
They also note that the Treasury Department says a tax holiday would only expand the deficit.
With Roth, you pay tax up front on retirement savings but are promised a tax holiday on withdrawals.
Mark Zandi, head of Moody's Economy.com, favoured more help for the jobless and a payroll tax holiday.
But, there is also mounting evidence that a corporate tax holiday season is just around the corner as well.
FORBES: Holiday Season Is Just Around The Corner -- Corporate Tax Holiday Season That Is
You already know where I stand on this: I think the payroll tax holiday is wasteful and confusing.
For technical information on the terms of the tax holiday from the Massachusetts Department of Revenue, click here.
FORBES: Massachusetts State No. 17 With 2011 Sales Tax Holiday
Weeks after most states announced their sales tax holiday for 2011 (or lack of one), Massachusetts was still hedging.
FORBES: Massachusetts Joins States Offering Sales Tax Holidays
Some Republicans are keen on a payroll-tax holiday to temporarily cut employment costs.
An even stronger case can be made against a temporary corporate tax holiday.
House Republicans yesterday voted down the Senate's two-month extension of the two-percentage-point payroll tax holiday to 4.2% from 6.2%.
Now you have until the end of 2011 to arrange your tax holiday.
Last year, Congress voted in a payroll tax holiday to replace the expiring Making Work Pay Credit.
FORBES: Monday Night Vote Lessens Chances of Payroll Tax Cut Approval
The firms that are best able to take advantage of the tax holiday are awash in cash at the moment.
State gas tax holiday proposals, mirroring Republican presidential candidate John McCain's proposed summer federal gas tax holiday, have gone nowhere.
That said, for one year only, in 2011, there is a payroll tax holiday, which reduces payroll tax contributions.
The deciding question determining whether a payroll tax holiday raises or lowers unemployment is that of who bears the tax.
FORBES: Doubling Down on the Payroll Tax Holiday Still Won't Create Jobs
Workers have already experienced a 2% average cut in their take-home pay, due to the expiry of the payroll tax holiday.
In 1993 labor unrest in Communist-dominated Kerala sent Ramachandran scurrying to Pondicherry to take advantage of the tax holiday offered there.
This mini-state guarantees a 15-year tax holiday, an easy promise given the fact that it has no personal or corporate income tax.
The payroll tax holiday was meant to last only one year and take the place of the Making Work Pay Credit.
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