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February 14th, 2012
12:47 PM ET
Obama pushes payroll tax cut, again It was deja vu all over again at the White House. President Obama, flanked by Americans who had responded to the White House's #40dollars twitter campaign, put heat on Congress to extend the payroll tax cut for the remainder of the year. If you think the event looked familiar, it did. The president held a nearly identical event two months ago when Congress was last debating extending the tax cut. CNN's Alan Silverleib has the report from today:
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Tax and spend, tax and spend, tax and spend. It seems to be all the libs know how to do.
What do you know how to do? Cut, Cut, Cut. DUH!
I think John is forgetting with the Bush Administration the mantra was cut taxes, borrow, and spend on two unfunded wars; cut taxes, borrow, and spend on two unfunded wars. That is the ultra-right wing dumb mantra...along with Cheney's "deficits don't matter".....well look where that got us.
just follow the liberals from 1960 to today... the proof is in the pudding for all to see. If that isn't enough, go to europe where they are turning to conservatives to get them back into shape. Another four years of obama and we won't have an economy or national defense... and this is NO joke.
...Oh...Gloom and Doom from the peanut gallery! Hey there genius... Look around you, the economy is picking up ! More people are finding jobs these days. The Manufacturing Sector is adding jobs for the 1st time since the 90's, when, by the way, a liberal was in office named Bill Clinton.
Don't believe me,???? look it up for yourself! Ask any economist... Oh wait, that's right your "gloom and doom" diatribe doesn't go over so well with facts right? Why don't you try posting stuff like that on the Faux "not so much news" site? Because mostly intelligent americans read this site, and will call your posts "liar liar pants on fire". Liberals have always come in and cleaned up the mess lead by the conservative predecessor....So your best bet is try your spiel / foolishness on the low eye brow, knuckle draggers, low information, all hate, nincompoops . All your inaccurate, misrepresentation of the facts, out right lies won't be missed over here...That's for sure
This whole "idea" is a joke...and the joke is on those who support the left. Here's why–
Obama's argument for it is that someone making $50,000/year will have an extra $40 of income per paycheck. Then he goes on to use the $40/paycheck to ask what that $40 means to a struggling student or starving family. Problem is struggling students and starving families are not making $50,000/year, more like $20,000 (or $10,000 for a student working part time) which translates to $8-12/paycheck, not enough over the course of a year to pay on month's phone bill on those iphones they all seem to need.
Second, the tax holiday is more helpful for the upper middle-class...a two income household making, say $80,000 and $40,000 respectively will receive a break of about $92 per paycheck. So this turns into the same "regressive" tax break that typically so riles libs.
Next, the argument that this is money that will be spent, boosting the economy. The amount that will be added will be relatively small, and most of the additional "income" will be offset by lower tax credits to the lower income on the scale anyway...it's just a question of now or later.
Last, wasn't it not too many years ago we were asking for a SS tax INCREASE because of the poor economic condition of the SS/Medicare/SDI coffers? Where are the new projections of SS solvency? How much further will this speed up the bankruptcy of those programs? Yet the Republicans are demonized for asking to pay for it elsewhere?
As I said, this whole thing is a joke, unless you accept the fact that the Dems continue to look for ways to enslave Americans to the gov't reliance...then it all adds up.
Am I to assume that you're also against extending the Bush tax cuts?
Practical assumption, and no, I am not, nor am I necessarily against extending this particular "tax holiday." What I am saying is that the logic being provided for this by the left is patently false, or at best, misleading. In the end this is going to punish those who they are claiming most to help by bankrupting the SS coffers that the lower income earners are most reliant on (again gov't dependence).
Remember too, even though the bush cuts affected the higher income by a larger dollar amount, they benefitted the lower income by a larger margin, unlike this "gimmick." Again, don't get me wrong...keeping any tax lower is a good thing.
PS...I loved the spiderman reference on the Xi story!!!
I assume that a student whose parents make $50,000 (with the current cost for higher education) if they have a couple of students of college age they would consider $40 useful; or a family with a maximum income of $50,000 living in a highly expensive area like New York, or L. A.. would consider $40 helpful, or a family of 5 living in a less expensive area would consider $40 very helpful.
And C-Lo....I doubt very much you were posting such nonsense when George W. Bush was borrowing from China to fight two unfunded wars and sending every tax filing household $600 in tax rebate stimulus to buy their votes, or when he doubled the child tax credit. Where do you think that money came from?....Oh right "deficits don't matter" when some Rethugliklan is in charge.
president bush had a lot of help from both parties...and throughout the world....but then don't let the facts get in your way... we also paid 75% of the cost to liberate Libya...if you want to call it liberation...more to the point is murderaas you called it when President Bush did it.
Actually, Jean, if you have paid much attention, I have criticized Bush for a lot of his domestic policy. No I wasn't posting then, because I wasn't posting. As I pointed out before, these blogs and boards were not as open an popular as they are today. Blame/credit that to Obama who pushed the idea of on-line connectivity (politically speaking) during his campaign. The $600 "tax credit" was as much of a farce, and you're right it was pandering exactly like this is.
Both you and Trace, though, I think missed my point. That was not that I am against the tax holiday, but how it's being presented. The argument doesn't talk about the FAMILY of college age students, but rather that a college student his/herself would be benefitting by 40/paycheck using, what is it called, oh yeah, fuzzy math.
I notice neither of you address the bigger issue of the long term damage to an already sinking ship.
Last, another problem I have with the whole deal is that we as Americans have been "brainwashed" to the point where we believe the gov't is doing US a favor by returning an iota of the money they forcably take in the first place. We are to the point where if we were mugged on the street by the gov't we'd thank them for returning our empty wallets. This is the mindset we are coming to accept.
As far as those making $50,000 living in a high cost area like NY or SF or LA, therein lies my argument against large federal gov't solutions...those income disparities are better settled locally. Why should someone making $50,000 in Manhattan NY "struggle" under the same federal tax rates as someone making $50,000 in Manhattan KS? Yes there are some offsets and deductions that begin to bridge that gap, but not to the extent of the "real income" disparity that exists.
obama does not have an argument...this budget is a farce a political ploy...it is DOA as his last three were... but the libs and the media don't want you to focus on the fact that we do not have a functioning administration...but a bunch of chicago radical community organizers. China sends their 2nd string (VP) even...to meet with our 'president?'...a slap and joke. We are now the laughing stock of the civilized world.
C-lo,
My intelligent conservative friend. You just coherently explained your problem with this whole tax holiday. But yet, you are clearly not against it...in fact, from reading your post, it sounds like you are all for it. Yes, the implications are regressive to a very limited degree, but that was always the intent.
The highest earning income and largest demand driver are the middle class, who under the previous administration almost decimated in to non-existence. Now, I'm not one to believe that was Dubya's intent, but rather that was a result of some poorly deployed policies, and failed foreign policies. However, Obama is doing his best to put money in the pockets of those that have driven this economy since the great depression...that would be middle income earners. That sector of the U.S. economy must be given every opportunity to recovery in order for this country to get its fiscal house in order.
And for "one very silly putz" I've seen on this site...here's my argument about the President's Budget which was DOA on arrival. THERE IS NOTHING WRONG WITH THE BUDGET! It cuts Medicare and other discretionary spending over the next ten years but does add to the deficit in the aggregate by attempting to fund infrastructure / construction projects. By getting the unemployment rate down to about 5% (somewhere near full in employment as measurement of past baselines), we organically increase revenues, thereby reducing the overall debt gradually without THE ALL IMPORTANT MIDDLE CLASS TAKING YET ANOTHER HIT.
Remember, All the Improvements in the economy, the postive trajectory in the unemployment numbers is ALL Obama and the Dem's doings. Because your party "The GOP/No/Tea Potty peeps, have refused to do anything in helping this country get back on its feet....The clear evidence IS A 10% APPROVAL RATE FOR REPUBLICAN CONGRESS...That has to be only family and friends.
Heck we blame Obama for everything wrong. So in contrast, when things improve, and only a blind fool would say they haven't; Obama should be given credit. The reason the Budget is DOA is not because its not good...Its just the GOP/Tea Potty people have a set a precedence of saying "NO" to anything that might help this country...Everybody in congress knows that. Everybody in America, except the patently stupid, knows that. And I for one will welcome a Democratic Wave in Nov. as America justifiably rewards your party for being intransigent, vindicate, and dishonorable in putting party politics above the needs of this country.....good bye and good riddens GOP / Tea Pots.....Hello...Obama/Biden 2012.
Trace, see my response to Jean...in short, I don't necessarily have a problem with the tax holiday, what I take issue with is the way it is presented with non-sequitor arguments like I pointed out, and again, where is the outrage/concern with the state of the SS "trust fund?"
Last, just because there are some misguided factions of the GOP, doesn't mean that Dems better represent me just like groups like the Westbourough Baptists won't lead me to converting from being a Christian. I believe the party is going through its renaissance not unlike the Dems suffered through in the 80's and (early) 90's
February 23 ,2009= Obama. I promise cut 1/2 national debt. What a liar. Where we are now? No shame on his face.
I was a lifelong Republican until I realized how mean most of them are. In my late 50's, I changed parties. Since then, still, almost everything they say is mean. Obama didn't get us into the financial mess we are in. GWB did that.
In all reality the tax cuts for the wealthiest 2% are driving the deficit. The reason we are hemorrhaging red ink as far as the eye can see can be directly attributed to congress not repealing the the Bush era tax cuts.
now your joking right? You just can't be that ignorant...or can you?
...Nov 2012, Jean is right! I know those facts really create havoc for you, but here is a little homework for you. Look at the tax rate for the weathiest 1% during the Clinton administration. And for the end of your thesis, please review the surplus at the end of that administration
I know , I know, You hate the facts thingy, but it would be your ignorance to do so.
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