The republicans want to raise your taxes

Discussion in 'Politics' started by Truthmatters, Aug 21, 2011.

  1. Truthmatters
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    GOP may OK tax increase that Obama hopes to block - CBS News


    At issue is a tax that the vast majority of workers pay, but many don't recognize because they don't read, or don't understand their pay stubs. Workers normally pay 6.2 percent of their wages toward a tax designated for Social Security. Their employer pays an equal amount, for a total of 12.4 percent per worker.

    As part of a bipartisan spending deal last December, Congress approved Obama's request to reduce the workers' share to 4.2 percent for one year; employers' rate did not change. Obama wants Congress to extend the reduction for an additional year. If not, the rate will return to 6.2 percent on Jan. 1.

    Obama cited the payroll tax in his weekend radio and Internet address Saturday, when he urged Congress to work together on measures that help the economy and create jobs. "There are things we can do right now that will mean more customers for businesses and more jobs across the country. We can cut payroll taxes again, so families have an extra $1,000 to spend," he said.
     
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    Last edited: Aug 21, 2011
  2. Truthmatters
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    Will the tea party support this or will they stick to their claimed positions?
     
  3. driveby
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    driveby Gold Member

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    When are moonbats going to learn the difference between fact and opinion?....
     
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  4. Truthmatters
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    under the rights claims of what is a tax hike, this is a tax hike
     
  5. driveby
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    driveby Gold Member

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    You're a fountain of fickle ignorance, you and every other moonbat in america's talking point was the repubs and tea party was "holding hostage" over wanting spending cuts instead of tax increases, now you're trying to tell this? The dems will tank again in 2012 over their blatant dishonesty and hypocrisy.........
     
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  6. Full-Auto
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    That requires thinking, not going to happen in this forum
     
  7. RadiomanATL
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    RadiomanATL Senior Member

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    I'm with Obama on this one. Unless it comes at the cost of another tax hike somewhere else. Which is the typical shell game politicians play.
     
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  8. TruthSeeker56
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    TruthSeeker56 Silver Member

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    "Truthmatters" conveniently omitted this part of the CBS News story. I wonder why?

    "Republicans cite key differences between the two "temporary" taxes, starting with the fact that the Bush measure had a 10-year life from the start. To stimulate job growth, these lawmakers say, it's better to reduce income tax rates for people and for companies than to extend the payroll tax break.

    "We don't need short-term gestures. We need long-term fundamental changes in our tax structure and our regulatory structure that people who create jobs can rely on," said Sen. Lamar Alexander, R-Tenn., when asked about the payroll tax matter.

    House Majority Leader Eric Cantor, R-Va., "has never believed that this type of temporary tax relief is the best way to grow the economy," said spokesman Brad Dayspring.

    The nonpartisan Congressional Budget Office says payroll tax reductions give the economy a short-term boost. But it says the benefit is bigger if employers get the tax break instead of, or along with, workers.

    Some top Republicans have taken a wait-and-see approach, expecting the payroll tax issue to be a bargaining chip in the upcoming debt reduction talks.

    Neither House Speaker John Boehner, R-Ohio, nor Senate Minority Leader Mitch McConnell, R-Ky., has taken a firm stand on whether to extend the one-year tax cut.

    Most GOP presidential candidates also are treading lightly.

    Former Massachusetts Gov. Mitt Romney did not flatly rule out an extra year for the payroll tax cut, but he "would prefer to see the payroll tax cut on the employer side" to spur job growth, his campaign said.

    Former House speaker Newt Gingrich said Republicans will fall under increasing pressure to extend the payroll tax cut. If they refuse, he said in a recent speech, "we're going to end up in a position where we're going to raise taxes on the lowest-income Americans the day they go to work."

    Many Democrats also are ambivalent about Obama's proposed tax cut extension. They are more focused on protecting social programs from deep spending cuts. Some worry that a multiyear reduction in the tax designated for Social Security could undermine that program's health and stature.

    For decades the payroll tax generated more revenue than the Social Security paid out in benefits. The excess was used to fund other government operations. Last year, however, Social Security benefits began outstripping revenue from its designated sources, forcing the program to start tapping its "trust fund" of government obligations."
     
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  9. bigrebnc1775
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    bigrebnc1775 Diamond Member

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    CBS lied about Bush Rather lost his job because of it. Enough said about CBS.
     
  10. Truthmatters
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    Where did I ignore that information?

    Is it a tax hike under the republicans own definition of tax hike?


    Yes it is.
     

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