Rising personal income in the first quarter of the year was mostly due to lowered Social Security taxes, the Bureau of Economic Analysis reported this morning.
The bureau credited the high rate of growth nationally to the 2 percent reduction in what workers pay into the Social Security system.
2 comments:
I still think this was a strange thing to while so many are worried about the financing of social security.
Without the FICA cut, basically no personal income growth despite the trillion dollars of porkulus. The most stunning failure of economic polocy in my lifetime, and maybe anybody's. Even Bernanke admits he has no clue.
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