The "payroll tax increase" is letting the temporary cut in the Social Security taxes expire as was planned. Funding the underfunded Social Security is one of the problems the govt. faces. Stewart knows this (or at least he should) but increasing debt doesn't seem to bother him. This robbing Peter to pay Paul economic theory has been going on for four years and all it has done is increase the nations debt.
Actually Social Security could be "saved" by simply moving the payroll cap from it's present number which was set in the Ray-gun years it was indexed for inflation but not the decrease in value of the Dollar.
Salaries in most parts of the Country had been keeping up with the purchasing power of the dollar with the notable exception of the Old Confederate South . This, for many, salary creep passed the cap on Social Security.
In 1984 you could buy a new Chevy Impala for $7000.00 a cell phone was an analog brick that then cost me $700.00 could make limited call, while a new hard drive for an IBM personal Computer which was 5 Megs cost $400.00 Heck my first One Gigabit hard drive cost me almost $1000.00. Things change and unfortunately Congress has not seen fit to change the cap on Social security which is an impediment for the solvency of Social Security.
A real unknown fact, that the politicians like to gloss over, is that a good portion of my generation of baby boomers will be the first generation since the start of Social Security that will not receive all of money that they have paid into that fund.
Techie is correct! Instead of one "tax increase" make it two. That should help stimulate the economy.