Payroll Tax Cut Debaucle

I don't understand all the hoopla surrounding this extension of the Payroll Tax Cut. We keep hearing, "If they don't pass it, the avg American will have to pay $1000 more in taxes."

$1000 is the annual number... it actually comes out to around $20 a week for those making more than $20K a year... a 2% savings. If you make less than $20K, it barely helps you at all.

#1... isn't Social Security Broke? Why did Obama pass this tax cut in the first place?

#2... people understand we've got to start cutting back someplace. I doubt if anybody on the right would throw a fit over paying $20 more a week to keep SS solvent. Why are Obama & his minions acting as if the sky will fall if this tax cut doesn't get passed?

#3... why isn't Obama pleading his case to congress? Has he addressed them one time in the last few months? It's nearly like he's hiding in the closet and won't come out until the dust settles! He's the worst 'leader' ever.

Here's some specifics about Obama's payroll tax cut. See if you can figure out why it's so CRITICAL congress extends this bill? Is $20 a week really worth bankrupting SS?

Does anything else think this is little more than a political maneuver? Just doesn't seem to make much sense.

 

It's a hollow political maneuver, but then again, so are income tax cuts.

Payroll tax cuts are actually worse, but only because the income from the payroll tax is one of the main sources of government revenue.

We need a steady flow of revenue from the payroll tax in order to keep things running. If you start cutting it, then it just drives us further into debt. Income tax cuts don't really have much of an effect either way, since the AMT and deductions matter more than nominal rates.

More than anything, we just need to cut government spending.

 

Whiners all complain, but the fact is let it expire and get on with your lives.

Everyone wants a hand out from the evil gubment but knowbody want's to make sacrifices. Throughout the 90s standard deduction on income tax was at a record low around $3000, today it isover $5000. Capitalgains tax was at 27% throughout the 1990s, and for the past 10 years it has been 15%. Buck up and take it. You or your parents took it in the 1990s, and it was the most productive successfull time of USA history.

If they let the tax law expire, it will lower the income tax deduction to about $4000, and the Capital Gains tax will increase back to 24%. So quit complaining and learn what taxes to via other means than the propaganda and simple explaination FOX news throws at you.

I have a gut feeling that they will let it expire so that both political clown parties can keep faith, and point fingers at the other when the Booosh tax cuts expire. That way both can take credit for it when the economy gets better. Shows you just how vain these clowns are, they want stupid Americans fighting amongst crap like tax cut so they can continue to keep their jobs. What a buch of self serving self rightous punks who should all be voted out of congress. Lazy bastards who do nothing, and work to do nothing.

Notice they did not throw in a condition for a pay raise. That's because it will not pass.

 

My thoughts exactly. A lousy twenty bucks a week isn't going to save anybody... but lumped together amounts to a huge chunk coming outta Social Security. Makes no sense.

 

Don't beleive all the propaganda the media throws at you. They want you to be divided and excited so they can get your attention. The stuff the media is putting out is just propaganda and spin, trying to make simple fearful idiots cower and hate.

 

$20.00 a week is important to some people. That's $80.00 a month.

No, SS is not broke and won't be for a long time. Its money was used to fund two long-term wars and the massive debt that the Republicans committed us to.

Interesting that the right has NO problems with tax increases when it involves the working and middle classes.

He has.

It doesn't bankrupt the SS.

What? A political maneuver as we enter the election season? NO WAY!!!

 

That's what got my dander up first thing this morning when I heard for the umpteenth time, "Their failure will cost most Americans $1000!"

Gimme a break... we've gotta start cutting back someplace. Let the American citizens take a $1000 hit, then let Congress take a $5000 hit and Obama cut a few trillion from his agenda. Maybe we'd finally start making some headway.

 

Your attempt at empathy is only on a simple level, with small results that are insignificant. The problems and solutions are more complex than what you offer as a solution to fixing the USA.

Cutting has allready taken place and the clowns in congress would not accept a $4trillion proposed in July 2011. They again let that go by.

If you had the ability to understand income tax you would know that all these petty numbers and case studies mean jack because the larger result is when you evaluate the ipact it will have on the Nation as a whole.

True they should all take a hit, and that is why capital gains tax will go up over 50%. If you know anything of Capital Gains, it is what wealthy people make either as a primary source of income or as side money to pay for their mistrisses and prostitues.

In other word, stop complaining about the tax and start complaining about the way congress and the other politicians come to this bickering.

You all fall to easy into the web of the broadcast media's spin and propaganda. Some have no shame in showing their simplemindedness.

 

Yep, everything from here on in is posturing. The fight started with Owebama's demand for a tax increase....

And so it goes, the needs, wants and desires of the taxpaying public set aside for the individual politician's need to get himself re-elected.

 

U.S. exporting fuel but U.S. drivers still paying more

http://www.chron.com/business/article/U-S-exporting-fuel-but-U-S-drivers-still-paying-2341390.php

 

I actually suspect that both sides have been maneuvering towards eliminating the payroll tax cut, but this backhanded "we can't agree and its the other sides fault" is the new way they come to consensus without taking the credit for the decision. Rather than actually standing up and recommending the right thing to do (which is to eliminate the cut straight away), pretend that you can't agree, but that you're "really trying hard to protect everyones deduction". Unfortunately, the first time the right wing got elected on the backs of tax cut promises, both sides had to make that promise in some form, even if its the worst thing for the people.

I can't imagine a president or representative getting elected promising an across the board tax hike everywhere, even though it'd be the best thing for our nation at the current time. (and yes, my OWN taxes need to go up substantially, and I'd be willing to pay the increase).

 

Win Without White Working klass

 

Pretty much... The problem is that most people don't actually realize how the income tax system works or how important the payroll tax is for the general functioning of the government.

 

I totaly agree.

But would like to add that we somtimes give the American public too much credit for being intelligent and figuing out whne they are being manipulated. I truly beleive Politicians (and the corporations that run them) are out of touch with reality of the citizens, and the real economic condition of the USA (as most incumbents have been there since the 1990s), and they really belive americans are stupid and gulible and are playing them off on eachother so they can keep their two party base behind them.

 

Let's lower taxes and spend more... Yeah!!!

I don't understand why we don't, instead, cut out government spending.

 

Riots in the Sttreets

 

Lol, Republican's will fight you to the death to save millionaires taxes from going up 4% but when it comes to poor people... "Eh, who cares if their taxes go up".

Republican's are non-stop comedy gold!!

 

Because they have allready cut government, and the congress and their select 12 clowns did not cut more.

Also, if you live in the USA, your life will be negatively impacted indirectly from more cuts on the federal gov. If you have the ability to think beyond what the media tells you to think. Picture your State with more tax burden. Picture your state trying to fund that massive failure of an education system with higher taxes. Picture your grocery bill with higher taxes. Picture you paying more for smoke tax and fuel tax, Picture you paying more property tax and sales tax. Califrisco is paying nearly 10% sales tax and it will go up when they try to fund their broke government for the next year.

You see, you may not be paing for gubment services directly to the Fed. but you will pay the taxes of the services in your state. There is no way around it.

Because private corporation services cost more than government services. Except for public schools, Private schools are cheaper. But that massive government employee union will not allow their educators to take a pay cut further than what they have.

 

How about the lie about Obama addressing congress... just gonna ignore that one, huh?

 

What is Obama supposed to say to Congress other than "do your job".

 

Nobody said anything about the payroll tax cut 'fixing' anything. But you're right... it is a small and insignificant piece to the bigger puzzle. Which makes it even more ridiculous so much importance is being assigned to it.

Who the (*)(*)(*)(*) cares about $20 a week when the national debt is growing by $1 million A MINUTE?

 

They're begging him to lead. You know, do his job?

The only members of congress he's met with are the Dem leaders... behind closed doors twice in the last week. If you don't think he's the one behind the senate refusing to extend this bill for a year instead of 2 months, you need to put the kool aid down.. you've had enough.

 

True.

But we must not forget, Obama is a master politician from the second most politically corrupt city in the USA (Chicago) to the most politically corrupt city in the USA.

Barry has been able to throw conservative idology and republican idology at them so the conservative and republican congress can vot dowy their own idologies. It's know wonder Jon Boner crys onTV. He is forced to go against his own conservative base. To halt any legislation. While at the same time Barry Obama is going to the rebublican and conservative base and thrwoing them a vew favors. And all the time being called a liberal and democrat. LOL

Obama is a master of making the opposition go against their own idologies.

LOL. funny to watch the republicans wonder what his game is. And to find out he did favors for the right wing before the right wing coud do anything.

Hence the right wing base of corporate monopoly moguls say "Come on republicans, you have not done any thing for me lately".


That's because Obama fed the medical insurance comany a bone, and fed the oil companies a bone, and is feeding the broadcast media and the FCC a bone.

And All the democrats are still trying to figure out Obama's strategy. Why is he not doing anything for us.

 

They know what they have to do. They know what Obama's position is. All that is going on is politics and Obama knows that along with everyone else. Which is why the Republican's popularity is dropping like a rock.