In a turning of the tax policy tables, Democrats are increasingly hammering on Republicans who oppose the president’s proposal to extend for a year a payroll tax cut passed last year with bipartisan support.That tax cut — which reduces workers’ contributions to Social Security this year to 4.2 percent of wages, from 6.2 percent — expires in December. The White House would like to extend it for another year. But Republicans in Congress are balking, arguing that such a cut adds needlessly to the nation’s budget deficit, and should be replaced with an overhaul of tax policy instead.
“All tax relief is not created equal,” said Brad Dayspring, a spokesman for Representative Eric Cantor of Virginia, the House majority leader. “If the goal is job creation, Leader Cantor has long believed that there are better ways to grow the economy and create jobs than temporary payroll tax relief.”
And they wonder why over 80% in the country dislikes them?
9 comments:
on this issue, clearly both parties are equally terrible.
No, Anonymous, both parties are NOT equally terrible. I won't say that Democrats are perfect, but the recent DC trainwreck that was the Debt Ceiling debate was 100% entirely caused by a combination of Repubican/Tea Party ignorance and intransigence.
anonymous, I hope that is sarcasm. There is certainly a case to be made against extending the payroll tax cut. But it's a sign of GOP intransigence that they wont even accept the only kind of stimulus they support(tax cuts) because Obama supports it. Not to mention hypocritical, since they say it adds to the deficit, but are fine with extending the Bush tax cuts.
Whats wrong with you Americans ? Here in Australia the government has introduced the resources tax, intent on introducing a carbon tax, sell off assets and we have a economy with less than 6% unemployment and 7% and falling GDP to debt ratio. Have the guts to square your accounts and the confidence to invest will return.
One reason the GOP hates it is the Payroll tax helps the non-rich, can't have that, next the poor and middle classes will expect things like rights and a future and then where would we be? Socialism, that's where, Kenyan-Marxist-socialism.
/sarcasm
@ Ben van der Kruyssen
A resources tax? A carbon tax? What's wrong with us Americans is that any policy apart from tax *cuts* is treated to a public lynching.
Why?
Narnia pales in comparison to the American land of magic. Here, tax cuts pay for themselves. Low single-digit core inflation prompts whispers of "Weimar". Roads and bridges repair themselves nightly in a process that is never seen, only believed. Children spring from the womb fully formed, quoting Tacitus and grinding differential equations. There are no police, and the sun never sets, obviating the need for streetlamps.
You really have to believe it to see it.
Ben, I think one of the big differences: You have a parliamentary system, where as we dont. I think it's much easier to get legislation passed when you are the majority party in a parliamentary system. Thus, it's easier for the government to respond to problems and the demands of the people who elected them. I remember reading that every country with a AAA rating has a parliamentary system.
Probably not a coincidence.
Now Cantor is saying any disaster relief must be paired with more spending cuts, so I think the GOP is going for 100% hatred of congress.
I was the first commenter, and yes it was sarcasm.
I was responding to bonddad's tone, which (to me) appears to blame all of Washington equally when I think one group is categorically worse/stupider/crazier than the other.
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