Can people specifically explain why this is a bad deal?
My first question is, I do hope this unemployment extension doesn’t mean 99ers can collect even longer. I can maybe see keeping the extension past 26 weeks, but most certainly oppose anything that lets people collect for over 99 weeks.
Other than that, it looks like it is mostly a tax cut deal combining Bush’s tax cuts and Obama’s tax cuts right?
The payroll tax holiday appears to replace Obama’s “making work pay” tax cut which was in the Stimulus. Is there a reason this is not a good deal. Won’t everyone under 40k single/80k married still get $400 and $800 bucks?
No it's not a "good deal." Payroll taxes are what funds your social security account. Fewer dollars of your and your employer's contributions are going into YOUR account. In essence you get to get what should have been going into your Social Security "retirement" account.
Look up "Federal Insurance Contribution Act", "FICA," and "Social Security."
People need to understand what the numbers mean on their pay stubs.
The "99'ers" will now be known as "155'ers" with the 13 month extension. Unemployment will continue to rise as new claimants join the "155'ers". Ending unemployment for "99'ers" would drop the unemployment rate by 2% to 3% in one month. There is welfare for the rest. At the very least make the "155'ers" do CCC type work projects.
“Can people specifically explain why this is a bad deal?”
I think it’s a pretty good deal. I’m not crazy about the unemployment extension, or the estate tax reinstatement but here’s the thing: we needed a deal NOW.
I read that if things hung on beyond 12/15 they’d have to prepare and release the new withholding tables, etc. And can you imagine the cost, etc. of undoing that, or re-doing it in January?
Further, if it went to January, with the current rates expired it may well have become a free for all and who knows what we would have ended up with. Can we say “uncertainty”?
A lot of rightwingers have been pushing for a payroll tax “holiday”. Hubby & I have both been at a 10% paycut for over a year, so every penny we get will help.
So, like I say, I think this is pretty good. And then libs hate it, so how bad can it be?
Look i cant stand bama but overall this is a decent deal