Yes a portion of that 22k will be spent back into the economy, but we’re talking about 500k jobs that simply may not exist anymore. Coupled with lower overall expenditure (as calculated in multiple independent studies), this could be a highly deflationary event; at least until workers find new employment. I don’t know why you’re insisting we RAISE payroll taxes, which could spike unemployment further. Payroll taxes are just about the worst kind of tax. The average worker could see the elimination of premiums with a potential tax CUT depending on where inflation moves.

Corporate accountant and former auditor with degrees in philosophy and accounting.

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