- Oct 7, 2011
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Obviously the MSM & Obama ain't touching this one. But surprisingly, Romney isn't either. So which Candidate do you believe will best address this coming nightmare?
President Barack Obama isnt talking about it and neither is Mitt Romney. But come January, 163 million workers can expect to feel the pinch of a big tax increase regardless of who wins the election.
A temporary reduction in Social Security payroll taxes is due to expire at the end of the year and hardly anyone in Washington is pushing to extend it. Neither Obama nor Romney has proposed an extension, and it probably wouldnt get through Congress anyway, with lawmakers in both parties down on the idea.
Even Republicans who have sworn off tax increases have little appetite to prevent one that will cost a typical worker about $1,000 a year, and two-earner family with six-figure incomes as much as $4,500.
Why are so many politicians sour on continuing the payroll tax break?
Republicans question whether reducing the tax two years ago has done much to stimulate the sluggish economy. Politicians from both parties say they are concerned that it threatens the independent revenue stream that funds Social Security.
They are backed by powerful advocates for seniors, including AARP, who adamantly oppose any extension.
The payroll tax holiday was intended to be temporary and there is strong bipartisan support to let that tax provision expire, said Sen. Orrin of Utah, the top Republican on the Senate Finance Committee. The continued extension of a temporary payroll tax holiday has serious long-term implications for Social Security and, frankly, its not even clear that it has helped to boost our ailing economy....
Read more: Taxes will go up in 2013 for 163 million workers | The Daily Caller
President Barack Obama isnt talking about it and neither is Mitt Romney. But come January, 163 million workers can expect to feel the pinch of a big tax increase regardless of who wins the election.
A temporary reduction in Social Security payroll taxes is due to expire at the end of the year and hardly anyone in Washington is pushing to extend it. Neither Obama nor Romney has proposed an extension, and it probably wouldnt get through Congress anyway, with lawmakers in both parties down on the idea.
Even Republicans who have sworn off tax increases have little appetite to prevent one that will cost a typical worker about $1,000 a year, and two-earner family with six-figure incomes as much as $4,500.
Why are so many politicians sour on continuing the payroll tax break?
Republicans question whether reducing the tax two years ago has done much to stimulate the sluggish economy. Politicians from both parties say they are concerned that it threatens the independent revenue stream that funds Social Security.
They are backed by powerful advocates for seniors, including AARP, who adamantly oppose any extension.
The payroll tax holiday was intended to be temporary and there is strong bipartisan support to let that tax provision expire, said Sen. Orrin of Utah, the top Republican on the Senate Finance Committee. The continued extension of a temporary payroll tax holiday has serious long-term implications for Social Security and, frankly, its not even clear that it has helped to boost our ailing economy....
Read more: Taxes will go up in 2013 for 163 million workers | The Daily Caller
What are you gonna do if your Dear Leader gets fired? Hope you're stocked up on your Meds. You may need them more than ever.
