It is almost comical to see liberals here bashing Trump for wanting to temporarily cut the payroll tax to help low- and middle-income Americans. I guess they don't know, don't remember, or hope nobody else knows or remembers that Obama cut the payroll tax, and that he did it for the same reasons that Trump wants to do it.
Obama cut the payroll tax from 6.2% to 4.2%, a reduction of over 30%, for 2011 and 2012. He signed the first payroll tax cut in 2010 and extended the cut in 2012, and then the tax returned to its previous rate of 6.2% in 2013.
Democrats strongly backed Obama's payroll tax cut, while many Republicans opposed it. Obama wanted to extend the payroll tax cut through 2013, but Republicans blocked this.
www.forbes.com
www.cnn.com
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www.thebalance.com
Obama cut the payroll tax from 6.2% to 4.2%, a reduction of over 30%, for 2011 and 2012. He signed the first payroll tax cut in 2010 and extended the cut in 2012, and then the tax returned to its previous rate of 6.2% in 2013.
Democrats strongly backed Obama's payroll tax cut, while many Republicans opposed it. Obama wanted to extend the payroll tax cut through 2013, but Republicans blocked this.
Dear America: Your Higher Payroll Taxes Are Not The Result Of A Tax Increase
While the fiscal cliff deal extended the income tax rates for 99% of Americans, one expiring provision that was not given new life by the 11th hour negotiations was the 2% reduction to an employee's share of Social Security payroll taxes.
www.forbes.com
Obama signs payroll tax agreement into law
President Barack Obama signs into law the payroll tax cut agreement passed by Congress last week.
Why Did Obama Extend the Bush Tax Cuts in 2010?
President Obama signed tax cuts in 2009, 2010, and 2013. These include the ARRA, the extension of the Bush tax cuts, and the fiscal cliff deal.
