Skip to comments.Congress punts hard payroll tax work to 2012 (Didn't Boehner warn everyone about that?)
Posted on 12/25/2011 12:26:35 AM PST by Libloather
Congress punts hard payroll tax work to 2012
By Richard Cowan and Rachelle Younglai
Reuters Fri, Dec 23, 2011
WASHINGTON (Reuters) - President Barack Obama signed into law a two-month payroll tax cut extension on Friday, capping a year of fierce partisan combat over taxes and spending that will resume in January and play heavily in the 2012 elections.
The Senate and the House of Representatives, by voice votes in chambers nearly emptied for the holidays, passed a $33 billion (21 billion pounds) bill to keep the payroll tax rate at 4.2 percent through February. It had been scheduled to increase on January 1 to 6.2 percent. Obama swiftly signed the bill.
"We have a lot more work to do," the president said at the White House. "This continues to be a make-or-break moment for the middle class ... There are going to be some important debates next year."
Obama heads to vacation in Hawaii with an important political win in his portfolio after he and fellow Democrats prevailed in the message war by backing lower taxes for middle-class Americans in the midst of a fragile economic recovery.
(Excerpt) Read more at news.yahoo.com ...
And they had the oo to eliminate COLA for 2 years???
And we ran our first SS deficient last year!!!
Makes you wonder what has happened since we declared independence 235 years ago. Seems like this s#!t has come full circle. We ran ran the brits out of Our country for less than this. Where are we going find all of the pissed off people looking for vengence for the next round of this crap? I don’t know about you, but I have a serious axe to grind with Our government on how they seem hell bent on running this country into the ground for their own profit.
Oh, but we got an increase this year - hich they quickly took back in higher Medicare fees.
Under 0bambi, seniors have gotten no SS COLA, Medicare fund raided and DeathCare which will deny us treatment. That’s their plan to make SS and Medicare solvent. Or is that solyent?
That's the issue!
Instead, the Republicans have decided to defend their reputation as tax-cutters. Well, all tax cuts are not equal in their economic effects. This S.S. tax cut is not stimulative and, as you point out, damages the status of the program.
But no one in D.C. mentions that. Reagan understood it -- all these people had to do was remember him. It's apparently lost knowledge.
I am as mad as I can be. I have had enough of all 535 plus the 9 in the supreme court.
All the 535 has done is line their pockets with perks we can not have. BOTH SIDES
We need a change and soon. Our founding fathers knew this would occur. They wanted the house to be like jury duty. Serve then go back to your regular job. The senate was appointed by the state legislatures to look after state affairs. The house was for the people. An amendment took care of that now the senate is voted on by the sheeple.
Nothing will be done in 2012 because it is an election year. A series of bribes will be offered, but there will be no serious attempts to address the real problems facing the country.
Now that the GOP fell into the same trap they always fall into, by following rather than leading, we need to immediately propose the new bill, and vote it. It needs to be clear that the president is the block not the GOP. The end of February is coming fast.
Someone explain to me Please how Taxing some poor Schlub on His 200,000 home Mortgage gets that money into my Income statement on how much I contributed to Social Security,which is what my Social Security amount is Based on. With the reduction in My contribution to the Social Security system that reduces my check doesnt it?Or does the Government just look the Other way and say that they are Stealing the Money from some other Poor middle Class Schlub to fill the Social Security coffers with his money and then I guess that means that RiCH guy who can afford the 200,000 dollar house is now funding the Social Security system.
It comes down to the people who define the Argument win the Argument,and the Feckless moronic Republicans with their Tails between their legs let the Democrats define the raiding of the only source for Social Security funding as an income tax cut,when they are separate issues. We were always led to believe that income taxes were seperate from Social Security funds but since the Crooked Politicians are tired of that, since they have Stolen Bernie Madoff style,all of the money for Social security to Balance the Federal Budget for Decades, Obama is going to destroy it completely.
What are the Republicans going to Argue now since they have bought the Democrat argument? Perpetuate the Lie I guess
Yes, and this is where the Media is failing us badly. This is pooching the Social Security system badly.
YES, SS was in the red last year and had to borrow from the Treasury.
Many folks, in this Economy, decided to punt and just live on Social Security. Many others have played the Mental Instability card and gotten SS Disability. This, with the reduced SS Payroll Taxes, has made the system UNSUSTAINABLE NOW.
The Democrats plan to blame this problem THEY created on their enemies. It may be their only hope.
SS was in the red last year and had to borrow from the Treasury.... They did not borrow anything from the General Fund. SS just called in ONE of the IOU’s that Lyndon Johnson replaced the “Lock Box” with.
...DeathCare which will deny us treatment. Thats their plan to make SS and Medicare solvent.
About 1/4 of the way down the scrolldown bar...Dr. David Janda Explains Rationing Under ObamaCare...(6 minutes 11 seconds well worth your time)...
Ha, Ha. And the IOUs go to Where?
Actually, it's my bad to say "Borrowed from the Treasury", I should have said Stole. And Stolen would have been from the American People.
Cut the pay-roll-tax 100% and those collecting Social Security are eligible to collect Welfare instead.
I think there will be reconciliation of the two bills; this was part of the unanimous consent agreement between Reid & Boehner.
There is enough blame for everyone. Once the house passed the 1 year bill that should have been it. There should have been no vote on the Senate Bill short of reconciliation.