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In reply to the discussion: Boehner Threatens To Hold Payroll Tax Holiday Hostage To Approval Of Keystone XL [View all]FreakinDJ
(17,644 posts)4. Payroll Tax Holiday Act: Bad Politics, Bad Policy
As the White House and Congress engage on whether to extend the Social Security payroll tax holiday, the Republican-led house has offered HR3630, which, among other things, ties the Medicare physician fix to extending the reduced funding of Social Security. This is an example of two important challenges facing our nation being addressed with poorly thought-out legislation.
The proposed extension of the payroll tax holiday is intended to prevent a hit to our anemic economic recovery. The White House and members of Congress are selling the end of the holiday as a tax increase on the middle class. In fact, this Social Security payroll tax is actually an investment into ones retirement account. Promoting continued reduced payment into Social Security is the same as telling folks to borrow from their retirement and spend the money now.
Shame on any citizen who buys into the political rhetoric that the opponents of extending this underfunding of future security just want to increase tax rates for the middle class. Greater shame on those politicians who make that claim. Similarly, replacing the billions of dollars (approximately $110 billion/year) that dont come to Social Security from workers paychecks by funds the government has to borrow to cover its huge deficit is bad policy. Surely there are better initiatives to support economic growth.
http://www.forbes.com/sites/beltway/2011/12/13/payroll-tax-holiday-act-bad-politics-bad-policy/
The proposed extension of the payroll tax holiday is intended to prevent a hit to our anemic economic recovery. The White House and members of Congress are selling the end of the holiday as a tax increase on the middle class. In fact, this Social Security payroll tax is actually an investment into ones retirement account. Promoting continued reduced payment into Social Security is the same as telling folks to borrow from their retirement and spend the money now.
Shame on any citizen who buys into the political rhetoric that the opponents of extending this underfunding of future security just want to increase tax rates for the middle class. Greater shame on those politicians who make that claim. Similarly, replacing the billions of dollars (approximately $110 billion/year) that dont come to Social Security from workers paychecks by funds the government has to borrow to cover its huge deficit is bad policy. Surely there are better initiatives to support economic growth.
http://www.forbes.com/sites/beltway/2011/12/13/payroll-tax-holiday-act-bad-politics-bad-policy/
Go ahead Boner - we don't want either one of them
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Boehner Threatens To Hold Payroll Tax Holiday Hostage To Approval Of Keystone XL [View all]
cal04
Jan 2012
OP
The GOPBaggers would sink the ship with all aboard, if it suited their perverted agenda.
SoapBox
Jan 2012
#6
I believe both Boner and Norquist have financial interests in the pipeline..n/t
monmouth
Jan 2012
#12
we know how this will go.environmental protects will be bypassed. desgin flaws overlooked
leftyohiolib
Jan 2012
#16
I hate to break the news to you, but just about every corporation in america keeps two sets of books
Travis_0004
Jan 2012
#25
well that was very intreresting but those arent the two books im talking about
leftyohiolib
Jan 2012
#26
Great! Fuck the XL Pipeline AND the payroll tax holiday! The tax holiday was supposed to be a...
Poll_Blind
Jan 2012
#23