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President Obama urges Congress to extend the payroll tax cut to prevent a tax hike on 160 million hardworking Americans.
I could definitely use the $1,000. I am wondering what congress will dream up to tack on. Wait for it...
President Obama urges Congress to extend the payroll tax cut to prevent a tax hike on 160 million hardworking Americans.
Sat Feb 11, 2012 11:22 AM EST
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- Public Discussion (13)
Every baby step forward is a battle.
- 6 votes
#1 - Sat Feb 11, 2012 11:09 AM ESTAnd it shouldn't be a battle!
Why is it so hard for Congress to understand? This is not rocket science. If you allow for the tax cuts on the middle class to expire, then the middle class, our consumers, or economic engines of America will spend less.... sinking our fragile econony.
E
- 5 votes
I don't consider a tax cut that defunds Social Security a step forward in any way, shape, or form.
- 5 votes
It's not hard to understand at all! The GOP and the interests that they represent have been making war on government, the vast majority of the American people and a recovering economy for two years. (I'm leaving out unions, women and immigrants of course.) The only solution is to bring enough voters to their senses to effect an electoral landslide for Dems in November. . .
- 3 votes
@ jwtii .. The Dems will squander the oppurtunity if they get it and blame it on the blue dog Dems, again.
How convienent, always a scapegoat in politics, isn't there?
This is an interesting about face. When it was time to roll back the Bush tax cuts, the GOP made this same argument.
I am in favor of extending this tax cut if we have spending cut offsets. That's responsible and I like the idea we're helping people who are working which is the only way you could get this.
- 3 votes
#2 - Sat Feb 11, 2012 1:55 PM ESTmarkpup
I am in favor of extending this tax cut if we have spending cut offsets.
Absolutely agree!!
- 2 votes
What is it? $1000 on $30,000 income, give me a break, if someone offers you a credit card do you just grab it as long as a big bank gives you the o.k.?
If that much money makes any difference to you, you don't really know what money is worth to begin with.
I have a strong feeling in time, you will learn.
It's 2% of your income essentially - the first 2% off your social security. So for 30,000 it's 600 dollars.
600 might be trivial to you, but if you earn 30,000 a year that's some money. Especially if you have kids. And to me it's nice that money flows back into the economy buying essential goods and if our government's actually responsible enough to pay for this with spending cut offsets I don't see why not. And you're not defunding social security in this case you're just paying for it with what you offset - I think the plan was to fund social security with deficit spending even if it wasn't paid for with offsets so there was never any danger to social security itself.
Really - you equate someone getting the tax cut with someone reckless with credit card spending? It looks to me like you have an axe to grind and you're looking for a cause that's not there.
Go ahead, live beyond your means, if $600 makes any difference to someone making $30,000 a year, to me that says you're living beyond your means. Don't you care if SS is there for your children when they retire?
Oh, but you love them so.
When you're on a fixed income like me, $600 means very much!
Why SS, why not close loop holes, come up with a different tax system. Why do the politicians always zero in on SS?
- 3 votes
#3 - Sat Feb 11, 2012 2:31 PM ESTHi Tyler - no one is changing SS they're just using the formulation as a means of how much of a tax break to give.
Back in the 80s I did taxes.One thing I learned is Americans will never ever accept a tax code without exclusions and exemptions no matter how "unfair" you think it is on the surface. Let's say two different people earn 70K a year - one has a stay at home wife and 7 kids with one in the hospital and their house caught fire last year and the other's basically single with no worries. Americans being who we are will always give the first guy some sort of break.
- 2 votes
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