By Juno Consultants Pvt. Ltd.

08/09/2020 The people who would get the greatest benefit from a payroll tax holiday may be the ones who need it the least.
President Donald Trump has been angling for a payroll tax cut to be included in the next coronavirus relief package. Lawmakers on both sides of the aisle have been less than enthusiastic about the idea.
The tax — a combination of a 12.4% Social Security tax and a 2.9% Medicare tax — is normally split between worker and employer.
The poorest 20% of people — those with income below $24,200 — would see their taxes go down by $250 on average.
This legislation calls for another round of stimulus payments of $1,200 per family member — up to $6,000 per household — along with an extension of the $600 federal unemployment payments through next January.
Further, while the initial rollout of the $1,200 stimulus payments by the IRS was imperfect, it still put money into taxpayers’ pockets.
“The basic structure was good, and the IRS did it more efficiently than many of us thought they could have,” said Gleckman.
Source: https://www.cnbc.com/2020/07/22/these-people-would-benefit-the-most-from-a-payroll-tax-holiday.html