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Tax Watch - Get the latest tax news from Thomson Reuters - RIA
12/8/11 — Senate kills two more bills to extend payroll tax cut through 2012. .... The legislative text of H.R. 3463, as passed by the House of Representatives can ...
U.S. House Passes Middle-Income Tax Cut Extension - Businessweek
More From Businessweek. Democratic Bill Offsets Payroll Tax Cut With Fannie, Freddie Fee; Congress Seeks Deal Amid Partisan Bickering on U.S. Payroll Tax
House passes tax cut extension - volunteertv.com Home | Knoxville ...
WASHINGTON (AP) -- The House has passed a bill to extend middle-class tax cuts while letting those for the wealthy expire, even as talks continue on extending the ...
Donnelly: Payroll tax cut extension is top priority
thinks Congress should stay in session until it passes an extension of the payroll tax cut ... a single stand-alone bill dealing only with the tax cut. The bill in the Republican-controlled House, for instance, would expedite the proposed ...
Boehner Leads Charge to Pass Payroll Tax Cut Extension
4 days ago ... House Speaker John Boehner, seeking to gain an extension of the payroll tax cut , ... Boehner Leads Charge to Pass Payroll Tax Cut Extension ...
Payroll Tax Cut Extension: Obama Says He Would Veto House GOP ...
JesseFFerguson BIG Question: Could House Republicans pass a clean payroll tax extension that didn't have medicare cuts and other riders in it? 9 minutes ago from TweetDeck ...
House GOP bill would extend payroll tax cut, unemployment extension
They are also said to be working with House Democrats to include an extension of the payroll tax cuts that President Barack Obama has been pushing for in recent weeks.
Federal Budget (Payroll Tax Extension Debate)
31: the payroll tax cut and extension of unemployment benefits that were part of a .... Mr. Ryan's budget plan was passed by the House on April 15 by a vote of ...
House Passes Pay Freeze Bill
The House passed the payroll tax cut bill Tuesday night in a 234-193 vote ... up a government spending bill until both sides can negotiate a compromise on the tax cut extension which is fueling concerns about a possible government shutdown.
House passes unemployment, tax cut extensions | Michigan Messenger
The U.S. House of Representatives passed President Obamas compromise bill to extend the Bush tax cuts in full for two years and federal unemployment benefits for one ...
What do you think about this article?
A day before President Obama delivers his new jobs plan, the White House ramped up pressure on Congress to act on the presidents proposals -- preemptively pinning the blame on lawmakers in the event those proposals die.
But despite widespread speculation about the contents of the presidents plan, White House Press Secretary Jay Carney repeatedly declined to elaborate on what it might contain. He said only that the proposals would be "bipartisan" and that Congress should pass them.
"He will call on Congress to take up those proposals because they are sensible, they are bipartisan and they are paid for," Carney said, claiming the American people are tired of "excuses" and the only reason for Congress not to act will be if "politics gets in the way."
"The American people expect Washington to take sensible measures to grow the economy and create jobs and to pay for it. The president will put forward a proposal to do that. Hell do it in front of Congress because he is calling on Congress to act," he added.
Republican lawmakers voiced skepticism in the run-up to the address.
Several GOP lawmakers announced they will not attend. Others groused that the administration is not doing enough to tackle excessive regulation. Though Carney cited the presidents "fine working relationship" with House Speaker John Boehner and prior meetings the two have had, Boehners office complained that they would not have a chance to discuss a jobs plan with the president before the address.
"Its hard to take seriously the White House suggestion that his plan will include bipartisan proposals when Republicans are not allowed any input," Boehner spokesman Brendan Buck said.
The mood underscores what countless lawmakers and analysts have been saying for days -- the president faces enormous pressure to unveil something big, something new and something bipartisan, or watch Thursdays address fall into the just-another-speech annals.
At a minimum, Obama is expected to propose a package of federal spending and tax cuts worth at least $300 billion.
Among some of the items that would quickly add up are a $110 billion payroll tax cut extension as well as $60 billion for extending unemployment benefits for another year; a highway bill worth $90 billion that the president proposed last month to extend but which has not gone anywhere; a $40 billion job training program; and a targeted payroll tax cut for employers to encourage new hiring worth about $30 billion.
Obama has also called for public works projects, such as school construction. Advocates of that plan have called for spending of $50 billion, but the White House proposal is expected to be smaller.
That would easily surpass a $300 billion price tag, and the proposals may be closer to $400 billion to $500 billion.
Obama faces the dual challenge of proposing something big enough to jump-start the economy but not so big that it turns off the deficit hawks in both parties.
Carney, mindful of deficit concerns, insisted Wednesday that the proposals will be paid for. "Were not going to bust the debt ceiling," he said.
Though the president may look to offset the new spending by closing tax loopholes, Sen. Jeff Sessions, R-Ala., warned Wednesday that Republicans will oppose the package unless its offset by spending cuts.
The White House also shot down a rumor Wednesday that the administration was considering a moratorium on regulations, drawing a rebuke from House Republican Leader Eric Cantors office. "Such excessive regulations stifle economic growth," his office said.
Senate Republican Leader Mitch McConnell likewise said the administration is "throwing a big wet blanket on job creation." Rep. Allen West, R-Fla., urged the president to reduce regulatory burdens, calling his current policies "anti-growth."
On the other side of the equation, a liberal group called Social Security Works, warned Obama that any payroll tax cut for employers will do nothing to stimulate new hiring by companies "suffering from weak demand rather than weak profits."
"This tax cut would be bad enough if it were not also undermining Social Security," said Social Security Works Co-Director Nancy Altman. "Americas richest companies, many of which pay little in taxes, do not need another tax break. Many companies that will benefit have a long record of shipping thousands of jobs overseas. There is not even a requirement that a company has to create a single job to get this tax break."
Obama will lay out his plans during an early prime-time speech at 7 p.m. ET, scheduled to precede the NFLs regular season opener. Republicans have not scheduled a rebuttal to follow the speech.
The proposal comes as the employment report for August rel
Answer: Very Good!
Category: Other - News & Events
House passes GOP payroll tax package amid White House veto threat
The House on Tuesday passed a bill combining an extension of the payroll tax cut with several GOP-favored provisions, including language to speed a decision on the Keystone XL oil sands pipeline, setting up a showdown with the White House, which has ...
House Passes Tax Cut Extension Package 277-148
Late last night, the House of Representatives passed the bill extending the Bush tax cuts for two years by a wider margin than some expected: WASHINGTON — Congress ...
U.S. House Passes Tax Cuts Extension; Bill Headed for Obamas Desk ...
House Passes Tax Cut Extension; Bill Headed for Obamas Desk
US House Passes Republican Plan To Extend Payroll Tax Cut,UI ...
House Approves GOP Plan On Mostly Party Line Vote, 234 to 193 --Bill Goes To Senate Where Dem Leader Says It Will Be Defeated By John Shaw.
GOP House Reps pass payroll tax cut extension + keystone pipeline ...
I thought Obama was all for compromise and making the middle class ... He won't allow the GOP to blackmail him again. ... because he hates economic growth. ...
House passes temporary extension of Bush-era tax cuts, 277-148 ...
The House gave final approval late on Thursday night to a temporary extension of the George W. Bush-era tax rates, delivering a significant but politically bruising ...
HOUSE PASSES PAYROLL TAX CUT EXTENSION With Keystone Pipeline ...
By NewsCore WASHINGTON — The US House on Tuesday passed legislation extending a payroll tax cut and shortening the deadline to approve the Keystone oil pipeline, setting the stage for a fight with the ...
I cant believe it, AP is actually doing its job. Fact checking Obama claims. Are you surprised?
http://news.yahoo.com/fact-check-obama-claims-miss-evidence-201911584.html
FACT CHECK: Obama claims miss some evidence
WASHINGTON (AP) — Are President Barack Obamas ideas for job creation really bipartisan as he claims? Not when the means for paying for them are put in the equation.
The president dodged various facts and and left some evidence in the dust in his latest challenge to Republicans to get behind his jobs program or offer a real alternative.
A look at some of the claims in his fast-paced news conference and how they compare with the facts:
OBAMA: "If it turns out that there are Republicans who are opposed to this bill, they need to explain to me, but more importantly to their constituencies and the American people, why theyre opposed, and what would they do."
THE FACTS: While Republicans might not be campaigning on their opposition to Obamas plan, theyve hardly kept their objections a secret.
In a memorandum to House Republicans Sept. 16, House Speaker John Boehner and members of the GOP leadership said they could find common ground with Obama on the extension of certain business tax breaks, waiving a payment withholding provision for federal contractors, incentives for hiring veterans, and job training measures in connection with unemployment insurance.
They objected to new spending on public works programs, suggesting instead that Congress and the president work out those priorities in a highway spending bill. And they raised concerns about Obamas payroll tax cuts for workers and small businesses, arguing that the benefits of a one-year tax cut would be short-lived. The memo also pointed out that reducing payroll taxes, which pay for Social Security, temporarily forces Social Security to tap the governments general fund. And it opposed additional spending to prevent layoffs of teachers, police officers and other public workers.
OBAMA: "Every idea that weve put forward are ones that traditionally have been supported by Democrats and Republicans alike."
THE FACTS: Obama proposes to pay for his jobs bill by raising taxes, something traditionally opposed by Republicans and, in the form Obama proposed it, even some Democrats. Senate Democrats were so allergic to Obamas approach, which relied largely on limiting deductions that can be taken by individuals making over $200,000 a year and couples making more than $250,000, that theyre eliminating it and replacing it with a new tax on millionaires.
In claiming bipartisan support for the components of his proposal, the president appears to be referring just to what the plan would do, not how its paid for, but thats a crucial distinction he doesnt make.
Some of tax-cutting proposals offered by Obama have received significant Republican support in the past. But some of the new spending he proposes has received only nominal Republican backing. Evidence of bipartisanship provided by the White House includes legislation last year that provided $10 billion to prevent teacher layoffs. It won the support of only two Republican senators — Olympia Snowe and Susan Collins, both of Maine and among the most moderate Republicans in Congress. Another example cited by the White House was his proposal last year to offer tax breaks to businesses that hire new workers — it passed the House 217-201 with six Republican votes.
OBAMA: "The answer were getting right now is: Well, were going to roll back all these Obama regulations... Does anybody really think that that is going to create jobs right now and meet the challenges of a global economy?"
THE FACTS: Well, yes, some think it will. The U.S. Chamber of Commerce last month submitted a jobs proposal to Obama that included a call to ease regulations on businesses. It specifically called for streamlining environmental reviews on major construction projects and to delay the issuance of some potentially burdensome regulations until the economy and employment have improved. In the letter, Chamber President Thomas Donohue also called on Congress to pass legislation that would require congressional approval of major regulations. The chamber did not indicate how many jobs such regulatory changes could create, but it said: "Immediate regulatory relief is required in order to begin moving $1 trillion-$2 trillion in accumulated private capital off of the sidelines and into business expansion."
And so on
Answer: Yes I a, surprised. But dont be surprised when we get closer to election day and the AP goes back to its usual Obama lap dog position.
Category: Politics
GOP House Reps pass payroll tax cut extension + keystone pipeline approval. Why wont Obama pass it too?
I thought Obama was all for compromise and making the middle class stronger?
Answer: because he hates economic growth.
Category: Politics
House Passes Partial Extension of Bush Tax Cuts
The House of Representatives just voted 234-188 to extend the Bush-era tax cuts to families earning under $250,000, denying Republicans a separate vote on extending ...
Will the senate commit political suicide by not passing the extension for unemployment and payroll tax cuts...?
bill that the house just passed?
Category: Politics
HOUSE PASSES PAYROLL TAX CUT EXTENSION With Keystone Pipeline ...
WASHINGTON – Sensing a political opening, House Republicans on Tuesday approved a plan that links speedy approval of an oil pipeline from Canada to a measure renewing a payroll tax cut. The vote sets up a showdown ...
Manchin defends votes against payroll tax cut extension
released what he believes are "disturbing facts" posing an "immediate threat" to Social Security benefits if Congress passes legislation to extend payroll tax cuts. For years ... enough to get its financial house in order, with the debt growing by $5 ...
The Nation: Politics of the Economy; The Players Are in Place. The Policies Await.
PRESIDENT BUSHS replacement of his top economic aides last week showed how seriously he takes the threat that a weak economy poses to his political future. But that concern so far has not extended to reconsidering his core economic policies. Unemployment is rising and growth worldwide appears to have stalled, but almost no one expects the White - Pres Bushs replacement of his top economic aides shows how seriously he takes threat posed by weak economy; his concern so far has not extended to reconsidering his core policies; his key proposal remains package of long-term tax cuts, directed mainly at wealthy, remedy many mainstream economists say is bafflingly out of step with problems economy faces now; analysts see strategy intended to further political as well as economic goals (M) - By ALEX BERENSON
Payroll Tax Cut Extension: Focus Turns To House After Senate Defeat
Payroll Tax Cut Extension: Focus Turns To House After Senate Defeat
House Passes Extension of Payroll Tax Cut
WASHINGTON — Defying a veto threat from President Obama, the House on Tuesday passed a bill extending a cut in Social Security payroll taxes for 160 million Americans for another year. But the Democratic majority in the Senate vowed to reject ...
House Passes Payroll Tax Cut Measure With Republican Priorities
Pipeline Issue Obama said Dec. 7 that he would reject linking the pipeline to an extension of the payroll tax cut. White House press secretary Jay Carney said yesterday that including the Keystone issue in the payroll tax cut bill sends the ...
White House officials push Republicans on payroll tax cut extension
The Obama Administration continues to press leaders in Congress to pass the extension of the payroll tax, with top administration officials using the imagery of a ...
House passes GOP payroll tax cut plan
Most importantly, Senate leaders say Congress should not vote on a measure to avert a government shutdown Saturday until a path forward is resolved on the extension of the payroll tax cut. Boehner and his House Republican leaders had quite the battle to ...
What if the Unemployment Rate gets below 8% before the 2012 Election, will Conservatives lose?
Perhaps that is why they want to stop growth, by refusing to pass an extension of the Payroll Tax Cuts, and for refusing to pass a jobs bill.
It is obvious that they want the Economy to fail, because that is the only way they get the White House.
Unemployment did fall to 8.6% today.
Payroll tax cuts does help.
The Bush Tax Cuts did not help.
Answer: Conservatives have alienated too many people to ever win another election. They admittedly aren't concerned about the majority of the electorate and you can't win an election when you bad mouth gays, Muslims, poor people, union members, scientists, atheists, teachers, college students, single mothers, etc.....not to mention all people that are friends and family of the aforementioned groups. It would be like walking into a job interview and flipping off the boss and wondering why they didn't hire you.
....that doesn't leave them with that many voters. The majority of the US wants healthcare overhauled and the rich to be taxed more. Republicans said they won't do it and even want roll back healthcare. Any sick person, regardless of party affiliation, is going to vote democrat.
Category: Politics
Republicans Say Congress Will Pass Payroll Tax Cut Extension ...
19 hours ago ... Republicans Say Congress Will Pass Payroll Tax Cut Extension ... The House bill containing the payroll tax cut would also expedite a decision ...
House Passes Extension of Bush Tax Cuts and Unemployment Benefits
The House approved an $858 billion extension of the Bush-era tax rates and unemployment benefits late Thursday night, a day after the Senate approved the bill ...
House Republicans Divided on Payroll Tax Cut Extension
More from myfoxatlanta.com. ... House Republicans Divided on Payroll Tax Cut Extension. Updated: Friday, 02 Dec 2011, 3:36 PM EST Published : Friday, 02 Dec 2011, 3 ...
Is Obamacare really just a hostile takeover of the United States Health Industry & has nothing to do with H.C.?
The U.S. Senate recently released its long-awaited proposal for a government-run hostile takeover of the entire U.S. health care system. Predictably, it includes a barrage of higher taxes to pay for the bill’s immense price tag. [...]
All these increases, combined with state and local income taxes, would raise the average top marginal rate in the U.S. to over 52 percent. This would be higher than traditionally high-tax countries such as Italy, Spain, and even France. [...]
Below is a list of the tax increases Congress and the Administration have proposed to finance health care reform. This list includes taxes in the bill passed by the House of Representatives, the bill the Senate is currently debating, and other taxes mentioned as a possible way to pay for health care reform.
•An income surtax on taxpayers earning more than $500,000 a year,[1]
•An excise tax on high-cost “Cadillac” health insurance plans that cost more than $8,500 a year for individuals or $21,000 for families,[2]
•An excise tax on medical devices such as wheelchairs, breast pumps, and syringes used by diabetics for insulin injections,[3]
•A cap on the exclusion of employer-provided health insurance without offsetting tax cuts,[4]
•A limit on itemized deductions for taxpayers with a top income tax rate greater than 28 percent,[5]
•A windfall profits tax on health insurance companies,[6]
•A value-added tax, which would tax the value added to a product at each stage of production,[7]
•An increase in the Medicare portion of the payroll tax to 3.4 percent for incomes great than $200,000 a year ($250,000 for married filers),[8]
•An excise tax on sugar-sweetened beverages including non-diet soda and sports drinks,[9]
•Higher taxes on alcoholic beverages including beer, wine, and spirits,[10]
•A tax on individuals without acceptable health care coverage of up to 2.5 percent of their adjusted gross income,[11]
•A limit on contributions to health savings accounts,[12]
•An 8 percent tax on all wages paid by employers that do not provide their employees health insurance that satisfies the requirements defined by the Secretary of Health and Human Services,[13]
•A limit on contributions to flexible spending arrangements,[14]
•Elimination of the deduction for expenses associated with Medicare Part D subsidies,[15]
•An increase in taxes on international businesses,[16]
•Elimination of the tax credits paper companies take for biofuels they create in their production process–the so-called “Black Liquor credit,”[17]
•Fees on insured and self-insured health plans,[18]
•A limit or repeal of the itemized deduction for medical expenses,[19]
•A limit on the Qualified Medical Expense definition,[20]
•An increase in the payroll taxes on students,[21]
•An extension of the Medicare payroll tax to all state and local government employees,[22]
•An increase in taxes on hospitals,[23]
•An increase in the estate tax,[24]
•Increased efforts to close the mythical “tax gap,”[25]
•A 5 percent tax on cosmetic surgery and similar procedures such as Botox treatments, tummy tucks, and face lifts,[26]
•A tax on drug companies,[27]
•An increase in the corporate tax on providers of health insurance,[28] and
•A $500,000 deduction limitation for the compensation paid by health insurance companies to their officers, employees, and directors.[29]
Answer: Its that and worse. Obamacare will put the finishing nail in the coffin of freedom that this country was founded on by the Godly Forefathers.
I can't think of one thing worse than liberalism or those evil people that want to require you to pay for your neighbors health care.
Category: Politics
THE BUDGET BATTLE; THE SENATE PASSES A BUDGET ACCORD BY 54-TO-46 VOTE
LEAD: With bipartisan support, the Senate approved a comprehensive budget package early this morning that would raise the taxes or cut the benefits of nearly all Americans. With bipartisan support, the Senate approved a comprehensive budget package early this morning that would raise the taxes or cut the benefits of nearly all Americans. The bill, - By DAVID E. ROSENBAUM, Special to The New York Times
House Republicans Divided on Payroll Tax Cut Extension
House Republicans Divided on Payroll Tax Cut Extension. Updated: Friday, 02 Dec 2011, 3:36 PM EST Published : Friday, 02 Dec 2011, 3:33 PM EST
Obama threatens to veto tax cut bill with add-ons
"After the House passes the Middle Class Tax Relief and Job Creation ... In their veto threat, Obama aides complained that the cost of the payroll tax cut extension would be borne by the middle class; Senate Democrats have proposed a surtax on millionaires.
HOUSE PASSES PAYROLL TAX CUT EXTENSION | reportergary.com
House passes payroll tax cut extension. Democratic Congressman Eliot Engel of New York blasted Republicans for supporting a bill that they know the president will veto if it reaches his desk. The GOP-controlled House has ...
House Republicans Divided on Payroll Tax Cut Extension
www.MyFoxHouston.com | KRIV FOX 26 ... House Republicans Divided on Payroll Tax Cut Extension. Updated: Friday, 02 Dec 2011, 2:36 PM CST Published : Friday, 02 Dec ...
HOUSE PASSES PAYROLL TAX CUT EXTENSION With Keystone Pipeline ...
WASHINGTON – The Republican-controlled House has passed legislation sought by President Barack Obama to extend Social Security payroll tax cuts through 2012. But the bill also includes a requirement for construction of ...
House Republicans Divided on Payroll Tax Cut Extension
(NewsCore) - Deep divisions surfaced among House Republicans over whether and how to extend a payroll-tax break and unemployment benefits next year, according to GOP ...
BREAKING NEWS: HOUSE PASSES PAYROLL TAX CUT EXTENSION
BREAKING NEWS: House passes payroll tax cut extension. House approves Republican-backed extension of payroll tax cut in bill that includes provision for Keystone oil pipeline, despite President Obama veto threat ...
HOUSE PASSES PAYROLL TAX CUT EXTENSION with Keystone pipeline deadline
WASHINGTON -- The House on Tuesday passed legislation extending a payroll tax cut and shortening the deadline to approve the Keystone oil pipeline, setting the stage for a fight with the Democratic-controlled Senate and the White House. The legislation was ...
Tax Deal Hits Procedural Snag in the House
WASHINGTON --The $858 billion tax cut package negotiated by the White House and Republican leaders hit a procedural snag on Thursday, as liberal Democrats skirmished with party leaders over its estate-tax provisions. At issue was whether the House would vote on an amendment to tax a larger proportion of wealthy estates and to apply a higher rate - By DAVID M. HERSZENHORN; Brian Knowlton and Janie Lorber contributed reporting.
HOUSE PASSES PAYROLL TAX CUT EXTENSION
(NewsCore) - The US House on Tuesday passed legislation extending a payroll tax cut and shortening the deadline to approve the Keystone oil pipeline, setting the stage for a fight with the Democratic-controlled Senate and the White House. The ...
Obama to Urge Congress to Act on Payroll Tax Extension
“If Congress fails to extend the current payroll tax cut, taxes will go up on millions of people at a time when families are struggling to make ends meet,” a White House official ... could save if Congress passes the jobs act and how much ...
Tax cut bill passes House, goes to Senate
WASHINGTON, Dec. 13 (UPI) -- The U.S. House passed and sent ... would drop the payroll tax to 3.1 percent next year and provide employers with similar reductions. It would pay for the tax-cut extension with a 3.25 percent tax on gross income ...
House passes GOP plan for payroll tax cut extension – This Just In ...
The U.S. House on Tuesday evening a bill that would extend a Social Security payroll tax cut and speed the process for government approval of the Keystone XL oil pipeline. The bill passed 234-193.
MORE Political Brinksmanship: House Passes Version of Payroll Tax Plan Obama Opposes
The House has passed a version of the payroll tax plan that ... The impasse involves a convergence of major issues, including the payroll tax-cut extension and a spending bill that must pass in order to keep the government funded after Friday.
Senate Rejects Rival Payroll Tax Cut Plans As Vote Exposes GOP ...
Dec 2, 2011 ... The payroll tax cuts and unemployment benefits are at the center of a costly, ... to extend the payroll tax cut and unemployment insurance temporarily, ... to include some of the 20 House-passed bills that are part of a GOP jobs ...
House Passes Tax Cuts For Middle Class 234-188
WASHINGTON (AP) -- The House has passed a bill to extend middle-class tax cuts while letting those for the wealthy expire, even as talks continue on ...
White House Threatens to Veto Payroll Tax Bill with Pipeline Provision
(NewsCore) - The White House issued an official veto threat Tuesday on House Republican legislation that would extend a payroll tax cut and shorten the time ... reject attempts to tie a payroll tax extension to the Keystone oil pipeline decision ...
Payroll Tax Cut Extension: Obama Says He Would Veto House GOP ...
11 hours ago ... JesseFFerguson BIG Question: Could House Republicans pass a clean payroll tax extension that didn't have medicare cuts and other riders in ...
HOUSE PASSES PAYROLL TAX CUT EXTENSION With Keystone Pipeline Provision
WASHINGTON – The Republican-controlled House has passed legislation sought by President Barack Obama to extend Social Security payroll tax cuts through 2012. But the bill also includes a requirement for construction of an oil pipeline that has ...
DEMOCRATS YIELD AS SENATE PASSES BIG TAX PACKAGE
WASHINGTON -- The Senate on Wednesday approved the $858 billion tax plan negotiated by the White House and Republican leaders, and House Democrats said they expected to pass the bill on Thursday after a final, and seemingly futile, effort to change a provision that benefits wealthy estates. The Senate vote was 81 to 19 as Democrats yielded in their - Senate approves $858 billion tax plan negotiated by White House and Senate Republicans; House Democrats say they expect to pass bill after final effort to change provision that benefits wealthy estates; vote is 81-19 as Democrats yield in their long push to end Bush-era lowered tax rates for high-income taxpayers; Republicans agree to back stimulus package that includes extension of jobless benefits for long-term unemployed and one-year payroll tax cut for most workers; photos (M) - By DAVID M. HERSZENHORN; Janie Lorber contributed reporting.
Some Top Senate Republicans Paint Grim Picture for Payroll Tax Cut
4 days ago... choice: accept a payroll tax cut extension measure House Speaker John A. ... Once [House members] pass it, that's it,” Kyl said late Thursday. ...
In Congress, Role Reversal Over Federal Payroll Tax Cut
WASHINGTON -- In a sharp role reversal, Democrats and Republicans have become divided over whether to extend a federal payroll tax cut enjoyed by every working American last year, with Democrats leading the charge for the tax break and many Republicans demanding that the cut be paid for if it is extended at all. It is a shift from the recently - By JENNIFER STEINHAUER; Robert Pear contributed reporting.
Is Erickson right, "Make the Payroll Tax Cuts Permanent"?
I read his posts quite often. Not because I always agree with him but he does slam both sides.
"I never thought I would see the day, but Democrats are outmaneuvering Republicans on a tax cut — the payroll tax cut. They want an extension again. Let’s understand that the Democrats don’t serious want to help the working-class. They are admitting the working-class is no longer part of their coalition.
But they do want to score points against the GOP and, like clock work, the GOP is throwing the ball into the Democrats’ basket for them.
Republicans are arguing that another extension will (A) further undermine the solvency of social security and (B) not actually be pro-growth because it leaves uncertainty in the system over whether or not it will happen again.
Right now the Democrats are out flanking the Republicans on the payroll tax cut. It’s like the FEMA disaster stuff. Right as images are on every television in America showing houses destroyed by hurricanes, the GOP decides it needs to offset FEMA spending with cuts or else.
I have never understood the GOP’s willingness to stand on principle only during suicide missions.
The Republican Party is the party of tax cuts. The Republican party believes that temporary tax cuts subject to congressional renewal schemes are not pro-growth because of the uncertainty they leave.
So instead of going along with the Democrats’ efforts to temporarily extend the payroll tax cuts, the GOP should make them permanent. In fact, the House of Representatives should pass a very clean piece of legislation doing nothing but making the payroll tax cut permanent.
Just do it. The Democrats want to nibble away at the GOP on the tax cut issue. Force feed them a permanent cut.
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yeah I know, we all like to think were above the politics.. but I think he has a point, make them put up or shut up.
“But wait,” you say. “That will undermine the solvency of social security.”
So.
If you really think there is a social security trust fund and it is solvent, you really need a reality check.
The author is Erick Erickson and this piece was posted on redstate.com today.
Im listening. I didnt do much research on this Ill admit. So basically..keeping social security solvent (whatever that means..theyve raped the fund already) is the goal, at least for, say 20 years. But will my 13 year old grand daughter benefit? Or even my 30 something daughters?
IS it save-able?
thanks. good points folks, but @ Billy Bob, the other side of the coin is: its hard to argue w/ "using the IRS as a welfare agency" when literally $Trillions is being handed to everyone from AIG to Foreign Banks etc etc, isnt it? Both are bad yes, but the people saying hey throw some of that cash my way have a point, twisted as it is.
Answer: Making the temporary tax cuts permanent is plain STUPID because this money is taken from Social Security and we will have to either make cuts in other programs or borrow $120 billion a year to cover the short fall.
The US government already owes the Social Security system $2 trillion and taking an additional $120 billion out of the system at a time when many more people will start to become eligible for SS benefits is just plain STUPID.
The tax was a temporary tax, meaning that it was intended to provide relief over a short period of time. Even the Bush tax cuts were set to expire at the end of 2009 yet were extended by the democrats that were in control.
Allowing the Bush tax cuts to expire, one would think would shut up the liberals that claimed the tax cuts were for the rich, boy would they be surprised to learn just how much those cuts save them.
In fact, the rich payed a small percentage of the total tax bill BEFORE the tax cuts than they did after the tax cuts.
I think that the tax holiday should end as it was legislated to do and I think that the Bush tax cuts should end when they are scheduled to end, not just end for the rich but end for everyone so that when things return to what they had been.
The problem with liberals is that they suffer from envy, they use all of the major entitlements in this country and think that the rich should pay the entire bill. The way I see it if the top 5% pays 80% of all the taxes what do the bottom 95% have to complain about other than HE HAS MORE THAN I DO!!
Category: Politics
RT @star_news_today: House passes payroll tax cut extension With Strings Attached to Oil Pipeline:
The House of Representatives has ... http://t.co/2XkvGmk6 From: moonlight4747 - Source: twitterfeed
RT @TheRoot247: House Passes Extension of Payroll Tax Cut: http://t.co/Vp1QLVFz From: clamjam22 - Source: Tweet Button
RT @CatholicLisa: House Calls Obama’s Bluff, Passes Payroll Tax Cut Extension He Promised to Veto http://t.co/HJUWlevw via @rsmccain From: incognito912 - Source: dlvr.it
House passes payroll tax cut extension - CBS News From: KaydenSmithTJR - Source: web
Creating jobs and cutting taxes but obama threatens a veto. Oh you really wanna create jobs dont ya big guy? http://t.co/b6r65Scs From: LindsayMiguelez - Source: Twitter for Android
Do you agree with the GOP decision to link the payroll tax cut to approval of the keystone pipeline? http://t.co/OD2RF4Ar From: Mike_SolisCinci - Source: Facebook
House passes payroll tax cut extension With Strings Attached to Oil Pipeline:
The House of Representatives has ... http://t.co/ZbSVcqhf From: showbiz_news247 - Source: twitterfeed
House passes payroll tax cut extension With Strings Attached to Oil Pipeline:
The House of Representatives has ... http://t.co/qrLOOOR5 From: showbizz_daily - Source: twitterfeed
House passes payroll tax cut extension With Strings Attached to Oil Pipeline:
The House of Representatives has ... http://t.co/01erjC4j From: stars_news247 - Source: twitterfeed
House passes payroll tax cut extension With Strings Attached to Oil Pipeline:
The House of Representatives has ... http://t.co/2XkvGmk6 From: star_news_today - Source: twitterfeed
House passes payroll tax cut extension With Strings Attached to Oil Pipeline:
The House of Representatives has ... http://t.co/GGUJDrjO From: showbiznews247 - Source: twitterfeed
House passes payroll tax cut extension With Strings Attached to Oil Pipeline:
The House of Representatives has ... http://t.co/hD5dTI4q From: stars_daily - Source: twitterfeed
House passes payroll tax cut extension With Strings Attached to Oil Pipeline:
The House of Representatives has ... http://t.co/mp0se6ZL From: starnews_247 - Source: twitterfeed
House passes payroll tax cut extension - Political Hotsheet http://t.co/jo05QI9l From: kchamp2691 - Source: News360 on iOS
House passes payroll tax cut extension With Strings Attached to Oil Pipeline:
The House of Representatives has ... http://t.co/5sFiYj5d From: show_biz_news - Source: twitterfeed