March 17, 2020
An analysis by the Institute on Taxation and Economic Policy found that the top 20 percent of income earners would reap two-third of the benefit of a payroll tax cut, while the bottom fifth of income earners would receive only 2 percent of the benefit. A direct cash transfer, particularly one phased out at higher income levels, would shift more of the financial benefit to lower earners. Read more
Quoted Staff Member
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