MEGAN MCARDLE: Is A Payroll Tax Holiday A Good Idea?

No. It was a good idea — as a substitute for the futile and pork-laden “stimulus” bill — a year and a half ago. Now, not so much. A moratorium on new taxes or regulations until 2013, however, would likely be stimulative, at least if you believe, as I do, that a lot of businesses are holding back because of “regime uncertainty.” But at this point, who would believe in such a moratorium if promised?