GOP FINALLY Agrees to Raise Taxes – As Long As Middle Class Bears the Brunt

[LiberaL Lamp Post]

Republicans are so anti-tax increase that they would block medical treatment for 9/11 heroes to protect the wealth of the top 1% of Americans. That’s nothing new. What is news right now is who Republicans ARE looking to tax at a higher rate – all of working Americans, even those who toil at minimum wage with no benefits.

What’s happening: The Obama administration is pushing aggressively to extend the payroll tax “holiday” that Congress enacted in December. The payroll tax holiday benefits middle and lower income workers by reducing the Social Security tax coming out of their paychecks from 6.2% to 4.2%.

For a household bringing in a total of $63,000/year, the current payroll tax cut means an annual savings of $1,230 – a mortgage payment in tough times. The maximum annual benefit is just over $2,000 per person, so it’s a tax cut that overwhelming favors the working class – not the rich to whom one or two hundred dollars a month is a pittance.

Now, you would think that Republicans would support the payroll tax cut extension ...

Article continues at: http://www.addictinginfo.org/2011/08/23/flip-flop-gop-finally-gives-nod-to-raising-taxes-but-you-wont-like-it/

[valerief]

1. And it means less Social Security pensions, too. They'll be paying out less to pensioners. nt

[JohnWxy]

2. recommended.

[earcandle]

3. Paultry. We need to levy compulsory income tax on everyone without favor, according to the actual

untampered tax code to keep this country running in prosperity mode. Nothing less will do.

[earcandle]

4. People and companies are taxed on PROFITS... so big fucking deal. Tax already, fuckheads.

[Tiggeroshii]

5. Pay very close attention to the last two points that Republicans want to do:

1) Protect the rich from paying a marginally higher tax rate, shifting the tax burden to people living paycheck to paycheck if necessary, and
2)Obstruct all progress promoted by President Obama so that even his own party deserts him.

[earcandle]

6. Just make them pay taxes period. Whatever rate. NOW

[Fearless]

7. We don't want to throw the baby out with the bath water...

If consumers are over burdened (as they are now), the economy will continue to fail.

[Tiggeroshii]

8. I was trying to point focus to the whole trying to make him lose his supporters by splitting the bas

...and if you think about it just a little bit, it has worked.

[earcandle]

9. You won't be. Taxes are only levied on those with profits. And of course, payroll, sales, property

But most of our revenue generally comes from compulsory
levying of taxes on income.  You pay income tax, don't you? Or
maybe they take enough out of your paycheck so that you get a
refund?  Or don't have to pay?  That is fine, because you
already paid.  When you are in business, and you don't make a
profit, you don't have to pay either.  SO it is NOT a burden
on a company.  Taxes are only levied on Profits a company
makes.  That is money they made in excess after they paid all
of their bills.  It is NOT A BURDEN< it is the law.  That
is how we pay for all of our expenditures to keep our
government running and our services intact.  They have not
levied taxes on certain rich populations for 10 years and that
is why we are suffering. Instead we have been making loans
through the Federal Reserve Bank and paying interest.  We have
been financing our expenditures with debt money that has
interest expense attached.  We now owe 44% of our debt to the
Federal Reserve Bank including all of this interest.  Our
Congress is derelict in its duties not to levy tax revenues so
we can pay our bills and grow our economy and build our
infrastructure in the most modern way.  This is fraud.