Reply #4: No, it would not.......

[FrenchieCat]

First, the payroll tax holiday allows general funds to replace any money not being paid into social security. Over the short run, since it provides needed funds to workers, it is worth it considering the state of our economy.

Now, if this were to become a permanent tax holiday, then yes, it could hurt....but it isn't anything that lifting the current cap wouldn't solve. Lifting the cap is something that could be passed IF we work TOGETHER to take back the house and solidify our senate majorities and re-elect this President.

Now if we DON'T WORK TOGETHER, then it doesn't matter what is done now, because the Republicans will surely cut benefits to social security, no matter what is being suggested or not via this payroll tax holiday.

In addition the payroll tax for business is limited.

The payroll tax holiday for employers would be limited to the first 5 million dollars in payroll.
http://blogs.wsj.com/economics/2011/09/08/economists-react-gauging-impact-of-obama-jobs-proposal/

I am self employed, and do accounting for small businesses. There is one in particular which employs about 100 employees, most who are students at a nearby college.

So this employer would save $42,000+ for the year with the Payroll tax cut proposed. that is an employer that would hire additional employees, and meeting payroll is their biggest burden. Why would it be bad for them to receive an incentive to hire? They are not a large corporation...they are three people that started a catering company.

I have another business that I do accounting for, and currently, they have an offer and compromise sitting to be processed with the IRS, because they got behind on the payroll taxes. If they aren't able to negotiate something reasonable for them to pay, they will have to shut their doors. They employ about 40 employees. Those employees would become unemployed.

of course, anything can be used as evidence of anything these days, so your question isn't really asking anything of substance.......
Just a way to discourage folks from supporting this jobs bill...which again, the Republicans say, thank you.