Obama and the Payroll Tax Holiday

[DontBeStupid]

Obama: Congress should extend payroll tax cut - The Denver Post

WASHINGTON—President Barack Obama is calling on Congress to extend a payroll tax cut for one more year to boost the economy.

Hi. I'm a liberal person. I voted for Obama and think he's been doing a good job.

I am 100% against his idea of extending the payroll tax holiday.

discuss

 

[The Rabbi]

Obama: Congress should extend payroll tax cut - The Denver Post

WASHINGTON—President Barack Obama is calling on Congress to extend a payroll tax cut for one more year to boost the economy.

Hi. I'm a liberal person. I voted for Obama and think he's been doing a good job.

I am 100% against his idea of extending the payroll tax holiday.

discuss

OK so you're not a total idiot. I was wrong.
Temporary "tax cuts" like this do nothing to change the incentive to work and invest. Thus they do not stimulate anything except deficits.
All of Obama's "tax cuts' have been of this type: 1 year moratorium on this, 2 year credit on that. Businesses do not plan for 1 or 2 years. They invest for 10-20 years. His "tax cuts" are a waste.

 

[DontBeStupid]

OK so you're not a total idiot. I was wrong.

Apology accepted.

These kind of short tax cuts are really weak Keynesian stimulus, but I think Obama wants them because he thinks it's the only thing he can get from the GOP. It's sad really. On many counts.

 

[The Rabbi]

OK so you're not a total idiot. I was wrong.

Apology accepted.

These kind of short tax cuts are really weak Keynesian stimulus, but I think Obama wants them because he thinks it's the only thing he can get from the GOP. It's sad really. On many counts.

No, he wants them because they will score better with the CBO being short term and he can't offend his liberal base, which always wants higher taxes.