Warren Mosler, Connecticut's New Senatorial Candidate, Commends Richard Blumenthal's Adoption of the 'Payroll Tax Holiday'

GUILFORD, Conn., March 26 /PRNewswire-USNewswire/ -- Warren Mosler, the Tea Party Democratic candidate for the U.S. Senate, commends Atty. General Richard Blumenthal, also a Democratic candidate for the U.S. Senate, on promoting a proposal for a 'payroll tax holiday' on MSNBC's television show 'Morning Joe.'

"A full payroll tax holiday is the first and foremost of my three proposals to fix the U.S. economy in 90 days," said Mosler. "I was very, very pleased to see Dick leading with it when asked what he would do to create jobs."      

According to Mosler, a full payroll tax (FICA) holiday would increase the take home pay for a couple making a combined $100,000 per year by approximately $650/month, helping them make mortgage and car payments. Equal savings for businesses would allow them to make long overdue investments and technology upgrades to further reduce costs. And, most importantly, the increased sales from people having more money to spend would cause businesses to hire more employees, creating millions of good-paying jobs we desperately need.

Payroll taxes are highly regressive, punishing taxes that take the most income from people who can afford it the least. Democrats have long opposed all regressive taxes, and Mosler is hopeful they can unite behind this issue.

"The idea that people working for a living should take home enough pay to be able to buy the goods and services they produce, with businesses then competing for those consumer dollars, has long been a mainstay of the Democratic party. I encourage all Democratic candidates to join us in this effort and work together to make this proposal a prominent feature on the party platform," added Mosler.

The payroll tax holiday is the first core proposal of Mosler's three-part economic agenda to fix the U.S. Economy in 90 days from the bottom up. The other two proposals include funding an $8/hour national service job for anyone willing and able to work, and giving each State government an immediate $500 per capita of revenue to spend where they decide they need it most.

This plan is the backbone of Mosler's campaign for Connecticut's Senate seat. His specialized knowledge and experience - including 37 years as a true insider in the financial markets - make him uniquely qualified to lead America back to prosperity with definitive proposals that are Right on the Money.

For more information on Warren Mosler's bold plan to fix the U.S. economy, please visit www.MoslerforSenate.com.

SOURCE Mosler For Senate

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