Solution to Payroll Tax Reduction Extension Simple

Discussion in 'Congress' started by Freedomlover, Dec 22, 2011.

  1. Freedomlover
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    Freedomlover VIP Member

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    The solution to the extension of the Payroll Tax Reduction is simple if the D's and the R's would step back and take a look at an approach that gives both sides something.

    The tax reduction should be extended for 12 months; the cost of the extension should be made up by increasing the amount of earned income, currently at about $102,000, subject to the Payroll tax. A large majority of Americans pay on 100% of their earned income, therefore it is not unreasonable to increase this to an amount to cover the cost to SS and keep SS whole; the new revenues generated by increasing the ceiling on earned income should go to the SS Fund with language stipulating these funds can not be spent on anything else other than SS.

    This compromise, if enacted, would show Americans that indeed Congress, when it puts its mind to it, can get something done!

    For those who think that the riders in this legislation are the problem, you are wrong. The Dems and the Pres. have agreed to them. All that remains is what I written about above.
     
  2. Paulie
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    Paulie Platinum Member

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    How about we just make it permanent, and cut some spending?

    Fuck all this compromise bullshit for temporary vote buying.

    What good is a tax cut that ends in a year? It'll just be another fucking argument next year when it's about to expire again.
     
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  3. Freedomlover
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    Freedomlover VIP Member

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    Maybe if they raised the amount subject to the Social Security tax the reduction could be made permanent.
     
  4. dadsgm
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    dadsgm Senior Member

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    Freedomlover, your solution is to simple, uncomplicated and logical and therefore un-doable in Congress. If adopted the President ans Congress would lose an issue on which to grandstand.
     
  5. Full-Auto
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    Full-Auto Gold Member

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    This is not a solution.

    The solution must come with putting the cash back into the fund. They cant even make current payouts without borrowing. See last presidential threat.
     
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  6. Quantum Windbag
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    Quantum Windbag Gold Member

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    Except that, even if they increase the wages that subject to SS, those new wages would still be exempt from paying the tax because of the payroll tax holiday.
     
  7. Quantum Windbag
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    Quantum Windbag Gold Member

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    Because we need to fully fund the SS program, not pay less into it.
     
  8. JakeStarkey
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    JakeStarkey Diamond Member Supporting Member

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    Raise the age of retirement, increase taxation on income for SS to the first one million income.

    Problem solved.
     
  9. Quantum Windbag
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    Quantum Windbag Gold Member

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    Again, genius, how does raising the income subject to the SS tax pay for the payroll tax holiday since it covers everyone who pays the tax?

    You certainly proved that Forrest Gump was right when you said stupid is as stupid does.
     
  10. code1211
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    code1211 Senior Member

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    There's a ceiling on the income dollars subject to the Social Security withholding. I think it's about $107,000. For the evil 1%'ers, they are not taxed on the income earned above that amount. I've never understood this.

    This is a good program and an obvious wealth redistribution plan. The cash is taken from those who are working and given to those who are not working. I don't understand first why the very high income folks have some of their income protected and secondly why the blood suckers haven't already gone after it.
     

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