July 22, 2020

CNBC: These are the taxpayers who benefit most from Trump’s call for a payroll tax holiday

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The wealthiest 20% of taxpayers would reap the most from a suspension of this levy, according to a recent analysis from the Institute on Taxation and Economic Policy.

The non-partisan tax policy organization modeled the impact of eliminating both the employer and employees’ shares of these taxes from Sept. 1 through the end of the year.

The poorest 20% of people — those with income below $24,200 — would see their taxes go down by $250 on average. Read more



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