Why We Should Pay for Payroll Taxes via a Transaction Tax on Stocks and Tariffs on Imports

President Donald Trump said he wanted to defer the collection of the Social Security portion of the payroll tax in order to provide pandemic-related economic relief to workers. The Congress didn’t agree, so he issued an executive order to do just that on August 13. David Gergen: Much is unclear about how his order is supposed to work, and there are questions about whether it is legal. Gergen argues that if the goal was job creation, it makes more sense to reduce employer share of payroll taxes than to reduce income taxes.