There are some big arguments about whether or not to give tax credits to low-wage workers who pay payroll taxes on Social Security and Medicare.
Individual income taxes as well as corporate taxes are now far more rooted in the shifting sands of volatile business income and capital profits rather than in the terra firma of wage income that stabilizes payroll taxes.
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And although a new government may successfully impose wage and public-sector payroll cuts, Greece's privatisation promises look hopelessly optimistic.
There is a slim possibility that this will include a suspension of payroll taxes and minimum wage rules.
Along with repealing minimum-wage laws Congress can lighten the load by repealing all payroll taxes on both employees and employers for anyone making less than the current minimum wage.
Despite massive unemployment, firms are discouraged from hiring by over-mighty unions, wage controls and a complex system of payroll levies, not to mention a lack of suitable skills among the workforce.
During the 2008 campaign, for instance, then-Senator Obama suggested that the programs giant long-run deficit could be addressed by busting the wage-base cap and imposing the payroll tax on a larger amount of income.
It examines the role of eight labour-market rigidities such as the length and generosity of unemployment benefits, the degree of employment protection, the payroll-tax burden and the centralisation of wage bargaining.
The program was financed by a payroll tax of 2.9% on all wage earners, half paid by employee, half by employer.
Small-business owners have long griped that increases in the minimum wage hurt their bottom lines by forcing them to spend more on payroll, related taxes and benefits.
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Not included in the agreement is an extension of the payroll cut meaning that payroll taxes will rise by for 2 percent for all American wage earners.
Payroll taxes apply to the amount of an employer's wage bill above a certain threshold, at rates ranging from 3.65% to 6.85%, and averaging around 6% depending on the state or territory.
My best guess today is that wage and salary growth will weaken through year end and be worse if the payroll tax cut is not renewed.
Plus, unlike wage and salary income, it is also exempt from Social Security and (for a little while longer) Medicare payroll taxes.
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