Some times I don't know what these Republicans are talking about. They bash the President, twenty four seven...Which is all they seem to be good at and all they seem to unite on...Ask them if they have a solution to the nation's economic woes and double digit unemployment and all they want to talk about is debt, reducing the deficit. Not that that is not important...It certainly is...but getting a great many able and willing Americans back to work is just as important!
They also like to talk about not taxing the American public anymore...but what they really mean is that they don't want to tax their corporate sponsers and lobbyists who for the most part are the interests that have funded many of their campaigns.. (Eric Cantor, the hedge fund baby comes to mind)
Now..Check this out..Congressional Republicans want to raise your taxes. Say Whattt???? Impossible, right? GOP lawmakers are supposed to be so virulently anti-tax, surely they will fight to prevent a payroll tax increase on virtually every wage-earning American starting Jan. 1, right?, right??? Think again!
Many of the same Republicans who fought hammer-and-tong to keep the George W. Bush-era income tax cuts from expiring on schedule are now saying a different "temporary" tax cut should end as planned. By their own definition, that amounts to a tax increase.
The tax break extension they oppose is sought by President Barack Obama.(But Of Course! ) Unlike proposed changes in the income tax, this policy helps the 46 percent of all Americans who owe no federal income taxes but who pay a "payroll tax" on practically every dime they earn.
There are other differences as well, and Republicans say their stand is consistent with their goal of long-term tax policies that will spur employment and lend greater certainty to the economy.
"It's always a net positive to let taxpayers keep more of what they earn," says Rep. Jeb Hensarling, "but not all tax relief is created equal for the purposes of helping to get the economy moving again." The Texas lawmaker is on the House GOP leadership team. Is that what they call it now...Leadership? I thought it was cronyism!
The debate is likely to boil up in coming weeks as a special bipartisan committee seeks big deficit reductions and weighs which tax cuts are sacrosanct.
At issue is a tax that the vast majority of workers pay, but many don't recognize because they don't read, or don't understand their pay stubs.(Republicans count on you not knowing about this.) Workers normally pay 6.2 percent of their wages toward a tax designated for Social Security. Their employer pays an equal amount, for a total of 12.4 percent per worker.
As part of a bipartisan spending deal last December, Congress approved President Obama's request to reduce the workers' share to 4.2 percent for one year; employers' rate did not change. President Obama wants Congress to extend the reduction for an additional year. If not, the rate will return to 6.2 percent on Jan. 1.
President Barack Obama cited the payroll tax in his weekend radio and Internet address Saturday, when he urged Congress to work together on measures that help the economy and create jobs. "There are things we can do right now that will mean more customers for businesses and more jobs across the country. We can cut payroll taxes again, so families have an extra $1,000 to spend," he said.
..Social Security payroll taxes apply only to the first $106,800 of a worker's wages. Therefore, $2,136 is the biggest benefit anyone can gain from the one-year reduction.The great majority of Americans make less than $106,800 a year. Millions of workers pay more in payroll taxes than in federal income taxes.
The 12-month tax reduction will cost the government about $120 billion this year, and a similar amount next year if it's renewed. That worries Rep. David Camp, R-Mich., chairman of the tax-writing Ways and Means Committee, and a member of the House-Senate supercommittee tasked with finding new deficit cuts. Tax reductions, "no matter how well-intended," will push the deficit higher, making the panel's task that much harder, Camp's office said.
But Republican lawmakers haven't always worried about tax cuts increasing the deficit. They led the fight to extend the life of a much bigger tax break: the major 2001 income tax reduction enacted under former President Bush. It was scheduled to expire at the start of this year.President Obama campaigned on a pledge to end the tax break only for the richest Americans, but solid GOP opposition forced him to back down.
Many Republicans are adamant about not raising taxes but largely silent on what it would mean to let the payroll tax break expire.
Republicans cite key differences between the two "temporary" taxes, starting with the fact that the Bush measure had a 10-year life from the start. To stimulate job growth, these lawmakers say, it's better to reduce income tax rates for people and for companies than to extend the payroll tax break.
"We don't need short-term gestures. We need long-term fundamental changes in our tax structure and our regulatory structure that people who create jobs can rely on," said Sen. Lamar Alexander, R-Tenn., when asked about the payroll tax matter. This is the same lie they've been telling since President Reagon was in office..Two key words...Deregulation... and trickle down economics....It hasn't created not one job yet!
House Majority Leader Eric Cantor, R-Va., "has never believed that this type of temporary tax relief is the best way to grow the economy," said spokesman Brad Dayspring.
The nonpartisan Congressional Budget Office says payroll tax reductions give the economy a short-term boost. But it says the benefit is bigger if employers get the tax break instead of, or along with, workers.
Some top Republicans have taken a wait-and-see approach, expecting the payroll tax issue to be a bargaining chip in the upcoming debt reduction talks.
So Long story short..Here is what this really means...In a round about way...The Republicans don't want you and I, the average consumer and worker to have a tax break...They don't think you and I having a little extra money in our wallets will jump start the economy...What they are really saying is that that extra money would be better served in the coffers of the multi-national corporations and their stockholders and that if these corporations get the money, they will create jobs. Only they won't...They'll just keep the money,
They'll still send the jobs overseas, where they don't have to pay any benefits to the workers or as high a wage as they would an American worker. They'll make a profit and still pocket the extra dough...You and I will still be broke or if we have a job, struggling to make ends meet. It's not their problem...They don't care....
Amazing!!!...And they've said that in a way that the average American won't understand it.. The stupid American will actually think that what they just said is something they will benefit from...But they won't!!! They will have in the long run fallen for the okey doke. They'll be told by the Republicans, who they voted for and who sold them down the river...that it's all President Obama's fault! That's what they've been doing..and laughing at how gullible and silly most of us are. They are laughing because they know ,like I have come to know...That most Americans need to be lied to. They love a fantasy...Truth and more importantly, hard truth's are just too much to swallow. They can't deal with it!.
Just more double talk...More Republicans talkin out of the side of their faces! And Some of you believing it!
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