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Keyword: payrolltax

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  • Confirmed: The Payroll-tax holiday was a big nothingburger (Gimmicky stimulus effort did nothing)

    02/08/2013 7:42:16 AM PST · by SeekAndFind · 14 replies
    Hotair ^ | 02/08/2013 | Ed Morrissey
    This should be a lesson to politicians and economists about the nature of gimmicky “stimulus” efforts …. but probably won’t be. In the pressure cooker of the tax fight over the holidays, most people forgot about the payroll-tax holiday — the reduction by two percentage points of FICA withholding for Social Security. Its backers claimed that putting $20 a week in the hands of earners would boost spending and the economy, which turned out to be entirely false. They then claimed that the expiration of this temporary stimulus would tank the economy through reduced spending.And that also turns out to...
  • Americans Make Hard Choices on Social Security, Prefer to Raise Payroll Taxes and Increase Benefits

    02/04/2013 4:26:52 PM PST · by kabar · 17 replies
    The National Academy of Social Insurance website ^ | January 31, 2013 | The National Academy of Social Insurance
    WASHINGTON, D.C. Americans support Social Security and are willing to pay more to preserve and even improve benefits, according to a new survey released today by the nonpartisan National Academy of Social Insurance (NASI). The new study, Strengthening Social Security: What Do Americans Want?, finds a sharp contrast between what Americans say they want and changes being discussed in Washington, such as cutting benefits by using a chained Consumer Price Index to determine Social Securitys cost-of-living adjustment (COLA). Large majorities of Americans, both Republicans and Democrats, agree on ways to strengthen Social Security without cutting benefits. Fully 74%...
  • #WhyIsMyPaycheckLessThisWeek

    01/12/2013 9:20:05 AM PST · by Red Nation Rising · 7 replies ^ | January 12, 2013 | Michael Holmes
    As much as I dislike seeing my taxes go up, I can not help but smile a bit at all the liberals who tripped over each other running to the ballot box in November to vote for Obama now scratching their heads wondering why their taxes went up. On Twitter Friday, the subject #WhyIsMyPaycheckLessThisWeek was trending. In truth, I probably should feel like crying that people are so blind to the policies and the results of the policies they support, but Id rather take a more light-hearted approach at the beginning of the new year. Payroll taxes just took a...
  • Reuters Wants to Know How You Are Dealing With Payroll Tax Hike

    01/11/2013 8:19:51 AM PST · by kristinn · 34 replies
    Reuters via Twitter ^ | Friday, January 11, 2013
    Paycheck looking lighter? How are you adjusting spending after the payroll tax-hike? Contact or @langejason
  • An idea for tax reform: Abolish the payroll tax

    12/26/2012 7:22:00 PM PST · by SeekAndFind · 26 replies
    Washington Examiner ^ | 12/26/2012 | Editorial
    If Republicans and Democrats are serious about tax reform in 2013, they should throw away the tired old playbook and consider bolder ideas to fundamentally change the flawed tax code. One such idea would be to eliminate the payroll tax. The payroll tax -- 12.4 percent, split between workers and their employers to help finance Social Security -- is one of the worst taxes on the books for several reasons. A basic economic principle is that when the government taxes something, the nation gets less of it. Because the payroll tax makes it more expensive and administratively burdensome for businesses...
  • Payroll tax cut expiration lurks in 'fiscal cliff's' shadow

    11/30/2012 8:19:16 PM PST · by libertarian27 · 15 replies
    Christian Science Monitor ^ | Nov 30, 2012 | Elaine Maag
    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...
  • Barack Obama and the Problem of Proportion

    03/25/2012 5:29:47 PM PDT · by jfd1776 · 10 replies · 1+ views
    Illinois Review ^ | March 25, 2012 A.D. | John F. Di Leo
    Trying to make sense of a senseless administration: Perhaps there are two kinds of people: gullible ones who listen to Barack H. Obama (D, Tupi, Brazil) and think his proposals make sense, and realistic ones who go into shock and outrage watching him misstate statistics on the television. Back in my days in international freight forwarding, I worked for a company that had cooperative agreements with other freight forwarders all over the world. If we needed to arrange an inbound shipment from Europe or Asia, we would tell our partner the details and theyd start it on its way. If...
  • Deal reached on unemployment, payroll tax cut

    02/16/2012 8:46:50 AM PST · by tobyhill · 138 replies
    cbs ^ | 2/16/2012 | ap
    Relieved congressional bargainers say they've reached agreement on compromise legislation extending payroll tax cuts and benefits for the long-term unemployed through 2012, edging a white-hot political battle a major step closer to finally being resolved. Rep. David Camp, R-Mich., and Sen. Max Baucus, D-Mont., the two top negotiators, strode from a conference room minutes after midnight Thursday to say that only technical issues and the drafting of legislative language remained. The bill would assure a continued tax cut for 160 million workers and jobless benefits for several million others, delivering top election-year priorities for President Barack Obama. "It's a very...
  • Republicans drop demand to pay for payroll tax cut

    02/13/2012 5:40:59 PM PST · by SeekAndFind · 6 replies
    Reuters ^ | 02/13/2012 | By Donna Smith and Thomas Ferraro
    (Reuters) - Republican leaders in the House of Representatives on Monday dropped their demand for spending reductions to pay for extending a tax cut for 160 million American workers, setting up a likely breakthrough for agreement with Democrats. The about-face cleared the way for the Republican-led House to vote this week to renew for 10 months the tax cut set to expire on February 29. The Democratic-led Senate would likely support the payroll tax extension as laid out by the Republicans, even though they prefer including in the deal provisions on jobless benefits and payments for doctors treating Medicare patients...
  • Surprise! Borrowers get to pay for payroll-tax holiday (All costs get passed to consumers. Always)

    02/06/2012 1:06:03 PM PST · by SeekAndFind · 2 replies
    Hotair ^ | 02/06/2012 | Ed Morrissey
    So you think you got a payroll-tax holiday for free? Think that the big fat-cat mortgage lenders will foot the bill as part of Obama’s promise to make the cut pay for itself? CBS’ Sharyl Attkisson delivers the wake-up call to home buyers, who will pay a pretty penny for the latest gimmick of Obamanomics:CLICK ABOVE LINK FOR THE VIDEO Guess what? The fees collected won’t even cover the loss to the Social Security fund. It’s going into the general fund instead. Meanwhile, the Obama administration says to quit whining and suck it up so that we can recapitalize the...
  • Mortgage Spreads Highest Since 2008, Even Before Payroll Tax On Mortgages Go Into Effect

    01/31/2012 12:03:38 PM PST · by whitedog57 · 2 replies · 1+ views
    Confounded Interest ^ | 01/31/2012 | Anthony B. Sanders
    On December 29th, 2011, the Federal Housing Finance Agency (FHFA) acting director Edward Demarco released a statement detailing the increase to the guarantee fee charged by Fannie Mae and Freddie Mac, as part of the Temporary Payroll Tax Cut Continuation Act of 2011. As part of the legislation, FHFA is increasing the guarantee fee by no less than 10 basis points (bp), effective April 1st, 2012. This increase affects all single-family residential mortgages, and the additional 10 bp in fees will be remitted to the U.S. Treasury instead of being retained by the GSEs. Additionally, the minimum initial increase shall...
  • GOP maps strategy in wake of payroll tax debacle

    01/16/2012 3:59:22 PM PST · by SmithL · 20 replies
    Associated Press ^ | 1/16/12 | DONNA CASSATA
    WASHINGTON (AP) -- When last seen in Washington, House Republicans were furious with their own leader, Speaker John Boehner, and angry with their Senate Republican brethren over how the showdown over the Social Security tax cut turned into a year-end political debacle. The holidays and three weeks away from the Capitol have tempered some of the bad feelings, but several GOP lawmakers' emotions are still raw as Congress returns for a 2012 session certain to be driven by election-year politics and fierce fights over the size and scope of government and its taxing, spending and borrowing practices. In the week...
  • Congressional aides: Maybe Boehner will bypass the tea-party freshmen and make a deal with Dems

    01/14/2012 6:50:33 AM PST · by SeekAndFind · 44 replies · 1+ views
    Hotair ^ | 01/14/2012 | Allahpundit
    Two words: “Speaker Cantor.”Seriously, though, I’m skeptical that he’d do this. House Speaker John Boehner, hoping to spare fellow Republicans a second embarrassing defeat over payroll tax cuts, is prepared to navigate around rebellious Tea Party-aligned lawmakers to get a deal, according to congressional aides…Boehner’s office would not comment on possible divisions among Republicans in the upcoming debate over the payroll tax cut or tactics to get a bill passed. But one House Republican leadership aide told Reuters: “I think Boehner will seek a more accommodating approach to get a good percentage of Democrats to vote for it – even...
  • Democrats believe payroll tax victory bolsters chances of taking House

    12/24/2011 12:51:06 PM PST · by SeekAndFind · 40 replies
    The Hill ^ | 12/24/2011 | Alexander Bolton
    Democrats believe their chances of recapturing the House have improved significantly after what was widely seen as a GOP meltdown in the payroll tax debate. Democrats believe the messy fight has helped narrow the advantage Republicans have traditionally held on tax policy. Democrats have long espoused populist tax policy, with mixed results in recent years. Democratic strategists think that is about to change as high unemployment rates have given new traction to their proposals, which Republicans dismiss as class warfare. Tad Devine, a Democratic strategist, said he believes Democrats can recapture the House in part because of growing public resentment...
  • Will Democrats revive millionaire surtax? (Here we go again...)

    12/23/2011 10:20:34 AM PST · by Qbert · 22 replies
    Washington Post ^ | 12/23/2011 | Greg (Obama Shill) Sargent
    Flush from last nights victory, Harry Reid floated the possibility at a press conference this morning that Dems could revive the idea of a millionaire surtax when the talks begin over the year long payroll tax cut extension next year. Ive talked to Senate Republicans, plural, who think there should be a fair tax on rich people, Reid said. Im going to make sure that my conferees understand that this could be part of what we try to do. Given that Dems dropped the millionaire surtax during the talks over the payroll tax cut earlier this month, youd be forgiven...
  • House agrees payroll tax deal as Republicans cave in to Obama

    12/22/2011 2:32:54 PM PST · by MinorityRepublican · 216 replies · 3+ views
    The Guardian ^ | Thursday 22 December 2011 | Ewen MacAskill
    House speaker John Boehner is set to sign an offer from Obama to accelerate negotiations. Republicans in the House of Representatives have capitulated in the showdown over the payroll tax, handing Barack Obama an important victory going into election year. Under pressure from other senior Republicans for blocking a bill that would extend tax cuts to millions of Americans, the House speaker, John Boehner, is backing away from his insistence that any deal must cover a full year. A deal agreed by Republicans and Democrats in the Senate on Saturday covers two months, to allow further negotiations in January. It...
  • 2 Month Payroll Tax Holiday Passed By Senate... President, Can`t Be Implemented Properly, Experts

    12/22/2011 4:08:12 PM PST · by Para-Ord.45 · 21 replies ^ | December 19 2011 | Jake Tapper
    Officials from the policy-neutral National Payroll Reporting Consortium, Inc. have expressed concern to members of Congress that the two-month payroll tax holiday passed by the Senate and supported by President Obama cannot be implemented properly. Pete Isberg, president of the NPRC today wrote to the key leaders of the relevant committees of the House and Senate, telling them that insufficient lead time to implement the complicated change mandated by the legislation means the two-month payroll tax holiday could create substantial problems, confusion and costs affecting a significant percentage of U.S. employers and employees.
  • McCain Rips Obama Over Payroll Tax Impasse

    12/22/2011 3:54:21 PM PST · by rabscuttle385 · 15 replies
    The Hill, Washington, DC / Newsmax ^ | 2011-12-22 | Dan Weil
    Sen. John McCain, D-Ariz., lit into President Barack Obama today for failing to produce an agreement on extending the payroll tax cut, The Hill reports. The Senate passed a compromise two-month extension Saturday, but the House rejected it Tuesday amid objections from conservatives who want a one-year extension. Obama needs to exhibit leadership to break the stalemate, McCain told CNN. The president has merely told the House to pass the Senate bill. "Previous presidents I've served under ... would be calling them [members of Congress] over to the White House, looking them in the eye and telling them, 'We need...
  • Gingrich Offers Choice Words on Payroll Tax Cut Standoff

    12/22/2011 2:03:44 PM PST · by TBBT · 31 replies ^ | 12/22/2011 | Joy Lin
    RICHMOND, Va. -- Former House Speaker Newt Gingrich said Thursday he would tell his caucus to get "noisy" if he were trying to game out the dispute on a payroll tax cut with President Obama. Asked about the standoff by a voter, the Republican presidential candidate also called the senators "arrogant" over their refusal to negotiate. I would have all of my members on talk radio back home demanding the senators come back. And I could say 'How can the senators arrogantly go home." Gingrich, who has previously said he doesn't know what John Boehner is going through because President...
  • Breaking: House GOP agrees to Senates two-month payroll-tax bill (McConnells blueprint)

    12/22/2011 1:50:50 PM PST · by SeekAndFind · 82 replies
    Hotair ^ | 12/22/2011 | Allahpundit
    Just across from National Journal. Our dumb national nightmare is over. House Republicans on Thursday crumpled under the weight of White House and public pressure and have agreed to pass a two-month extension of the 2 percent payroll-tax cut, Republican and Democratic sources told National Journal…The House will pass the two-month extension with a technical correction to the language designed to minimize difficulties businesses might experience implementing the short-term, two-month tax cut extension. In exchange, Reid agreed to appoint several Senate Democrats to start negotiating with the House on a full-year payroll-tax holiday extension, which is right in line with...