7-24-20 retired ripon college economist says payroll tax cut is bad idea

A retired Ripon College economist questions two demands by President Trump in the next coronavirus relief bill.  The president is demanding that a payroll tax cut be included and funding for testing be reduced or cut completely.  Economist Paul Schoofs says a payroll tax cut is not the right medicine right now for the sickness of the economy.  Schoofs says the presidents’  call for cuts or elimination of funding for  testing isn’t surprising given the president’s comments that increased testing results in more cases.  But Schoofs points out that public health experts say more testing is needed to get a control on the infection rate.  Schoofs says the problem is there is a week left in July and time is of the essence with the August recess just a few weeks out.

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