Skip to comments.Payroll tax cut expiration lurks in 'fiscal cliff's' shadow
Posted on 11/30/2012 8:19:16 PM PST by libertarian27
The expiration of the payroll tax cut would increase taxes by $115 billion in 2013, Maag writes, yet President Obama and others have been strangely silent arguing instead about the fate of the 2001-2003 tax cuts.
If a tax cut is scheduled to expire, but the focus of the debate is elsewhere, will people notice? Will the average family be surprised when their taxes rise by $1,000 or more next year, even if most of the rest of the 2001-2003 tax cuts are extended for all but the wealthiest Americans? Thats precisely what could happen to a family earning $50,000 when the current law reducing payroll taxes by 2 percent expires at the end of the year. This same thing was scheduled to happen at the end of 2011, but politicians assured us then this was a bad idea. This year, they dont appear as concerned.
According to my colleagues at the Tax Policy Center, the expiration of the payroll tax cut would increase taxes by $115 billion in 2013. This provision affects more households than any other, yet President Obama and others have been strangely silent arguing instead about the fate of the 2001-2003 tax cuts.
(Excerpt) Read more at csmonitor.com ...
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Is 2013 a good time to privatize Social Security? After all, it is just another Annuity.
I’m convinced that when the Bush tax cuts expire and taxes go up, a significant amount of the sheeple will say, “Damn that Bush!”
It’s not really a tax increase - it’s just a return to fairness. Why would the Democrats want to jeopardize Social Security funding?
Not only that but folks are going to lose the 2% from SS that they’ve been getting for the last two years.
The Democrats do not want a deal, that is why they asking for outrageous concessions
Then they can blame the pubs because they didn’t go along with them.
Again it’s WIN WIN for the Dems and LOSE LOSE for the idiot pubs.
God I hate my party. Who let the current bunch of idiots become leadership?
They will blame the GP no matter what
better not to go along with them
I kinda like the fiscal cliff. Because that may be the only method which will get us some real spending cuts. Why are we spending 10 times on military compared to any other country, with money borrowed from China to protect oil shipping lanes to China?
Nothing wrong with spending on military if there is money in the bank. I love having the lone superpower status. But to borrow money and pile up national debt on future generations and screw up the economy?
This Øbama payroll tax cut of 23% of employee SS funding was cut by Democrats - it will never be replaced.
It slashed SS funding by employee contributions 23%
No One is talking about this tax cut in the MSM.
Everyone is talking about 'fiscal cliffs' but not about this payroll tax cut
Social Security is already on the road to ruin - this cut is speeding up the trip...restoring the 6.2% level will hurt the lower/middle earners that everyone is 'so concerned' about - not restoring it will be the quicker ruin of SS
Woo hoo!! And now only $73 to go!! Bring it on home, baby!!
Let's put this baby to bed!!
” - - - its just a return to fairness - - - “
“Fairness” is strict Communist Doctrine.
Today’s Democrats are approving of Re-Distribution Communism, (=from each according to his ability, and to each according to his need), and thus gleefully trample on Equality in their lust to achieve the Communist Fairness.
If there were no difference between wages, the perfect Communist wage equality would be achieved.
However, the moment someone with more ability would rise up, work harder, and thus cause his/her wages to increase, then the age-old, ugly, unfairness of income inequality would threaten all in Communist Zombieland, commonly called Obamanation.
Liberals in “both” political parties will seldom admit that they are essentially Re-Distribution Communists.
Read the below little ditty and compare to the above statements, and then try to explain to yourself the difference between Liberals and Re-Distribution Communists.
Liberals are driven by an insatiable need to HELP.
Liberals believe that rich people do not need HELP.
Liberals believe that poor people do need HELP.
So the sooner the Liberals can make the rich people poor,
The sooner the Liberals can HELP them.
I was using democratic party talking points to oppose their own tax cut. I don’t use sarcasm tags.
I knew that! My comments were for the RINOs on FR and the lurkers that believe in MSNBC.
As Breitbart told us this is WAR!