Freedomlover
VIP Member
- Nov 6, 2008
- 224
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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.
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.