Payroll tax holiday: When should it expire?

[Amelia]

People are used to this tax break now. How hard will it be to let it expire?

One of the hallmarks of the Social Security program has been that it is not welfare. People pay into it and thus earn the payouts when their time comes. A permanent payroll tax holiday would make it at least partially welfare.

So, is it going to be permanent? Which president is going to be willing to increase middle class Americans' taxes by $1000 a year? Ever.

 

[Amelia]

bump

 

[auditor0007]

People are used to this tax break now. How hard will it be to let it expire?

One of the hallmarks of the Social Security program has been that it is not welfare. People pay into it and thus earn the payouts when their time comes. A permanent payroll tax holiday would make it at least partially welfare.

So, is it going to be permanent? Which president is going to be willing to increase middle class Americans' taxes by $1000 a year? Ever.

It needs to expire right along with the Bush tax cuts.

 

[The Rabbi]

It needed to expire sometime before it went into effect. It did nothing to help the economy and increased the federal deficit. A typical leftist program that existed to make people feel good. And now they can say "see, tax cuts don't work."

 

[Kiki Cannoli]

Will allowing the cuts to exprire be perceived as Obama raising taxes?

 

[auditor0007]

It needed to expire sometime before it went into effect. It did nothing to help the economy and increased the federal deficit. A typical leftist program that existed to make people feel good. And now they can say "see, tax cuts don't work."

Please explain though, how you are not being a hypocrite. Aren't you one of those on the tax cutting bandwagon to spur the economy? A tax cut is a tax cut, or does it only count if it is a tax cut for the wealthy since they create all the jobs?

 

[NYcarbineer]

People are used to this tax break now. How hard will it be to let it expire?

One of the hallmarks of the Social Security program has been that it is not welfare. People pay into it and thus earn the payouts when their time comes. A permanent payroll tax holiday would make it at least partially welfare.

So, is it going to be permanent? Which president is going to be willing to increase middle class Americans' taxes by $1000 a year? Ever.

This is why I opposed cutting it in the first place.

But, they should tie its increase to unemployment or GDP, or both, and readjust it maybe every 6 months.

 

[Navy1960]

Yes, along with several other tax cuts, frankly if it were not so pathetic I would laugh when I see some in congress making claims of the dire state of Social Security and the debt as well as advocate for the deployment if US forces anywhere in the world and then advocate for tax cuts.

 

[NYcarbineer]

It needed to expire sometime before it went into effect. It did nothing to help the economy and increased the federal deficit. A typical leftist program that existed to make people feel good. And now they can say "see, tax cuts don't work."

Leftist program? You're an idiot.

112 Democrats in the House voted against it in 2010. 36 Republicans voted against it.

 

[occupied]

Not sure why they did it in the first place. At least republicans now see tax cuts as spending.

 

[The Rabbi]

It needed to expire sometime before it went into effect. It did nothing to help the economy and increased the federal deficit. A typical leftist program that existed to make people feel good. And now they can say "see, tax cuts don't work."

Please explain though, how you are not being a hypocrite. Aren't you one of those on the tax cutting bandwagon to spur the economy? A tax cut is a tax cut, or does it only count if it is a tax cut for the wealthy since they create all the jobs?

Please explain how you are not a moron.
Not all tax cuts are created equal. Tax cuts that fundamentally alter the incentive to work are good. Ones that don't aren't. This one isn't. No one is going to work harder because they aren't getting .35cents extra in their paycheck.

 

[Steelplate]

I'm in agreement... let the payroll tax cut AND the Bush tax cuts(all of them) expire... right now.

 

[NYcarbineer]

It needed to expire sometime before it went into effect. It did nothing to help the economy and increased the federal deficit. A typical leftist program that existed to make people feel good. And now they can say "see, tax cuts don't work."

Please explain though, how you are not being a hypocrite. Aren't you one of those on the tax cutting bandwagon to spur the economy? A tax cut is a tax cut, or does it only count if it is a tax cut for the wealthy since they create all the jobs?

Please explain how you are not a moron.
Not all tax cuts are created equal. Tax cuts that fundamentally alter the incentive to work are good. Ones that don't aren't. This one isn't. No one is going to work harder because they aren't getting .35cents extra in their paycheck.

WTF?

What kind of tax cut makes the average American work harder?

 

[The Rabbi]

I'm in agreement... let the payroll tax cut AND the Bush tax cuts(all of them) expire... right now.

Along with the Clinton tax increases. I'm fine with that. Go back to the Reagan era.

 

[Steelplate]

I'm in agreement... let the payroll tax cut AND the Bush tax cuts(all of them) expire... right now.

Along with the Clinton tax increases. I'm fine with that. Go back to the Reagan era.

funny... the Clinton Tax increase brought more prosperity and ran an actual budget surplus... but we don't want to talk about that.

 

[The Rabbi]

I'm in agreement... let the payroll tax cut AND the Bush tax cuts(all of them) expire... right now.

Along with the Clinton tax increases. I'm fine with that. Go back to the Reagan era.

funny... the Clinton Tax increase brought more prosperity and ran an actual budget surplus... but we don't want to talk about that.

Actually the Clinton tax increase brought about the recession of 2001. But we don't want to talk about that.

 

[Steelplate]

Along with the Clinton tax increases. I'm fine with that. Go back to the Reagan era.

funny... the Clinton Tax increase brought more prosperity and ran an actual budget surplus... but we don't want to talk about that.

Actually the Clinton tax increase brought about the recession of 2001. But we don't want to talk about that.

Yada, yada,yada.... the dotcoms bursting had nothing to do with it....the attack on 9/11 had nothing to do with it.

you're a fool.

 

[8537]

I'd let it expire when we have a full calendar year of 2.5% GDP growth and a full calendar year where at least 2 million jobs are created.

 

[JakeStarkey]

People are used to this tax break now. How hard will it be to let it expire?

One of the hallmarks of the Social Security program has been that it is not welfare. People pay into it and thus earn the payouts when their time comes. A permanent payroll tax holiday would make it at least partially welfare.

So, is it going to be permanent? Which president is going to be willing to increase middle class Americans' taxes by $1000 a year? Ever.

SS has to be paid for. Let the holiday elapse, reform SS through means testing, taxing all of income to $1 million annually, and increasing retirement ages. No more problems.

 

[The Rabbi]

funny... the Clinton Tax increase brought more prosperity and ran an actual budget surplus... but we don't want to talk about that.

Actually the Clinton tax increase brought about the recession of 2001. But we don't want to talk about that.

Yada, yada,yada.... the dotcoms bursting had nothing to do with it....the attack on 9/11 had nothing to do with it.

you're a fool.

So the dot coms bursting caused the recession but the increase in rates caused the boom?
You're the fool here.