Payroll Tax cuts

[American Patriot]

I'm confused again.

I thought the Republicans wanted to CUT taxes... wtf?

LOL

Obama uses public pressure to push GOP on tax cuts
(AP) – 11 minutes ago
WASHINGTON (AP) — President Barack Obama on Thursday chided House Republicans he said are holding up an extension of expiring payroll tax cuts, saying the debate is "about the American people."
To make his point, Obama was flanked at the White House by people who said they would be stretched thin financially if Congress failed to extend the cuts before the end of the year. If no deal is reached, the White House says a person making $50,000 a year would see a loss of about $40 per paycheck.
"Now there may be some folks in the House who refuse to vote for this compromise because they don't think 40 bucks is a lot of money," Obama said. "But anyone who knows how to stretch a budget knows that at the end of the week or the end of the month, $40 can make all the difference in the world."
In seeking to ratchet up pressure on Republicans for a deal, Obama reiterated his call for a two-month extension of the payroll tax cuts, a measure already agreed to by an overwhelming majority of Senators from both parties. He said the House GOP's refusal to sign on to the bipartisan deal was exactly why the American people have grown so frustrated with Washington.
"This is an issue where an overwhelming number of people in both parties agree," Obama said. "How can we not get that done? Has this place become so dysfunctional that even when people agree to things we can't do it? It doesn't make any sense. Enough is enough."
House Republicans say they oppose the two-month deal because it doesn't provide the public and businesses enough certainty They've called on Obama and Senate Democrats to negotiate a full-year extension instead.
Earlier Thursday, Obama called House Speaker John Boehner and committed to immediately starting talks on a full-year deal if the House first passes the two-month extension. Senate Minority Leader Mitch McConnell, R-Ky., has also urged the House to pass a short-term extension while starting work on the full-year deal.

[American Patriot]

Dear IRS...

FUCKOFF!

Rick

[Toad]

This is the 4 year Bush tax holiday coming to an end.(The Bill was specifically written to expire in 4 years) Your payroll taxes are going to return to the normal level they've supposed to have been all along. It's not a new increase in real taxes, it's a return to the pre-holiday tax level we all paid prior to 2008. The GOP power brokers look at this as a way to generate income for balancing the budget without passing any new tax bills and keeping their hands clean. Which will be technically and legally true.

[American Patriot]

They are assholes. And I don't OWE the government jack shit.

[Phil Fiord]

There are two versions.

A two month stay on the tax holiday from the Senate that takes from coffers that are already empty and a House version that extends a full year and funds differently than the Senate version.

The Senate wants the two month version to pass so they can come back from the break and tackle it and debate extending it.

In all it is a setup because now Obama is able to say Republicans in the House are not for cutting taxes. That is wrong because it is not a tax cut, but an extension of a previous cut.

Rep Boehner and Rep McConnell are at odds here as establishment Boehner is for the Senate band aide. That divides the GOP.

I could care less about GOP or DNC as orgs, but sadly this action is easily orchestrated to weaken more conservative platforms.

[Toad]

My feelings. At this point it's pure BS politics on BOTH sides. I'm feeling WE the taxpayer people are simply being screwed over by the ENTIRE Fed Gov in general. Each side is jockying to be the hero at the US civilian cost. Tax hike. Tax cut. Tax normalicy. Tax holiday. Everyone is playing wordplay. 2011 vs 2012 vs 2008, math razorblades turned on politics for personal gain.

When I see a REAL new bill that hikes taxes I'll be pissed. Until then it's just all pea and shell games messing with our heads.

[Phil Fiord]

Boehner announced the Tax Holiday deal has passed.

http://online.wsj.com/article/SB1000...s_opinion_main

The latest exercise in Washington burlesque ended yesterday, when House Republicans agreed to pass the Senate's two-month payroll tax holiday extension and the Democrats who run the Senate agreed to appoint negotiators to work out a year-long extension. The best you can say about this political melodrama is that it's over.


President Obama will take a victory lap, and he played his hand well if cynically. The two-percentage-point payroll tax holiday has done nothing to lift the economy this year, and it won't matter in 2012. As Milton Friedman taught us, temporary tax changes don't lead to permanent changes in consumer, taxpayer or business behavior.



The only potential job creator in the Senate bill is the plank requiring Mr. Obama to make a decision in 60 days on the Keystone XL pipeline. And he might ruin that by killing the pipeline to please his rich green supporters who think you can power a modern economy with windmills, solar cells and switchgrass. But at least now he'll have to decide before the election, and if Mr. Obama kills the pipeline he might doom a Democratic Senator or two.



The only purpose of this tax holiday was political, and the House Republican mistake was falling into the President's trap. They let him pose as a tax-cutter while they put on their pointy accountant hats and talked about "the Social Security trust fund," as if such a thing contains real money. The better strategy was to extend the payroll holiday, get something in return, and then talk about how Mr. Obama wants to push the economy off his multiple tax-increase cliff in 2013.


Republicans do need to fight for their priorities, but it helps to pick the right fights. They should return in 2012 ready to make their differences clear on taxes, health care, regulation, and how to grow an economy.

[Ryan Ruck]

I forget who I heard on the radio say this but they put it perfectly. The gist was that the left pitched a fit when GWB proposed privatizing part of Social Security. When Obama proposes to defund Social Security via this "payroll tax cut", you have the left demanding it.