What's new
US Message Board 🦅 Political Discussion Forum

Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

Republicans want to raise taxes on those making less than 106K a year

Chris

Gold Member
Joined
May 30, 2008
Messages
23,154
Reaction score
1,967
Points
205
Social Security payroll taxes apply only to the first $106,800 of a worker's wages. Therefore, $2,136 is the biggest benefit anyone can gain from the one-year reduction.

The great majority of Americans make less than $106,800 a year. Millions of workers pay more in payroll taxes than in federal income taxes.

The 12-month tax reduction will cost the government about $120 billion this year, and a similar amount next year if it's renewed.

That worries Rep. David Camp, R-Mich., chairman of the tax-writing Ways and Means Committee, and a member of the House-Senate supercommittee tasked with finding new deficit cuts. Tax reductions, "no matter how well-intended," will push the deficit higher, making the panel's task that much harder, Camp's office said.

But Republican lawmakers haven't always worried about tax cuts increasing the deficit. They led the fight to extend the life of a much bigger tax break: the major 2001 income tax reduction enacted under Bush. It was scheduled to expire at the start of this year. Obama campaigned on a pledge to end the tax break only for the richest Americans, but solid GOP opposition forced him to back down.

Many Republicans are adamant about not raising taxes but largely silent on what it would mean to let the payroll tax break expire.

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.

The Associated Press: GOP may OK tax increase that Obama hopes to block
 

driveby

Gold Member
Joined
Sep 6, 2008
Messages
8,848
Reaction score
2,339
Points
183
Nt
 

Grampa Murked U

Diamond Member
Joined
Jun 13, 2011
Messages
89,800
Reaction score
32,260
Points
2,275
Location
Kansas City
Yes we do, eventually anyways. Everyone should share the burden of supporting the thieves in Washington. Currently the bottom half pay nothing to DC. I fail to see the controversy. Even Obama says everyone should pay their fair share.
 

Truthmatters

Diamond Member
Joined
May 10, 2007
Messages
80,182
Reaction score
2,265
Points
1,283
yeap , they are going to have a real tuff time navigating this one
 

Cuyo

Training a Guineapig army
Joined
Feb 17, 2010
Messages
5,681
Reaction score
992
Points
98
Location
Denver, PA
Yes we do, eventually anyways. Everyone should share the burden of supporting the thieves in Washington. Currently the bottom half pay nothing to DC. I fail to see the controversy. Even Obama says everyone should pay their fair share.

Actually that's inconsistent with the specific increase being discussed.

Everyone who makes even a dollar in wages pays into FICA, and it's the FICA holiday expiry that's being considered.

Memes notwithstanding.
 

CaféAuLait

This Space for Rent
Joined
Oct 29, 2008
Messages
7,777
Reaction score
1,968
Points
245
Location
Pacific Northwest
What is this the fourth or fifth thread on this today?
 

The Rabbi

Diamond Member
Joined
Sep 16, 2009
Messages
67,733
Reaction score
7,920
Points
1,840
Location
Nashville
Good.
The payroll tax cut was a stupid idea that did nothing but increase the deficit.
Get rid of it and put i some tax cuts that will actually change people's behavior.
Obama is clueless. So is Chris.
 

Grampa Murked U

Diamond Member
Joined
Jun 13, 2011
Messages
89,800
Reaction score
32,260
Points
2,275
Location
Kansas City
It averages out to about a thousand dollars a year from what I hear. That translates to about 19 dollars a week on an average. Do you really think that 20 bucks a week is going to jumpstart our economy? Get real and come up with a solution that actually has a lasting impact.
 
OP
C

Chris

Gold Member
Joined
May 30, 2008
Messages
23,154
Reaction score
1,967
Points
205
Republicans will defend to the death tax breaks for the rich, but don't care about raising taxes on working people.
 

NYcarbineer

Diamond Member
Joined
Mar 10, 2009
Messages
117,063
Reaction score
13,866
Points
2,210
Location
Finger Lakes, NY
Good.
The payroll tax cut was a stupid idea that did nothing but increase the deficit.
Get rid of it and put i some tax cuts that will actually change people's behavior.
Obama is clueless. So is Chris.

Bwahaaa, another wingnut admits that tax cuts don't increase revenues.
 

Charles_Main

AR15 Owner
Joined
Jun 23, 2008
Messages
16,692
Reaction score
2,248
Points
88
Location
Michigan, USA
Republicans will defend to the death tax breaks for the rich, but don't care about raising taxes on working people.

You guys are the ones who keep talking about Everyone paying their fair Share while half the People Pay nothing and 10% of them pay 90%.

You guys want to make that even more skewed so even more people pay nothing and the top 10% carry even more of the Burden.

Sorry anyone who knows the Definition of Fair, Knows you are full of shit.
 

Truthmatters

Diamond Member
Joined
May 10, 2007
Messages
80,182
Reaction score
2,265
Points
1,283
they are getting tripped up pretty good with this one.


Maybe Obama has finnally out manuvered them
 

Warrior102

Gold Member
Joined
May 22, 2011
Messages
16,554
Reaction score
4,121
Points
183
I think those minimum wage idiots - like NYCarbineer - should pay more taxes. For once.

Let them feel the pain we rich bastards have been enduring for years.

I say raise taxes 40% on welfare cases like NYCarbineer. People of his ilk have been bitching for months about raising taxes, time to man up and grow a set.

Yep, I am in favor of it.
 

NYcarbineer

Diamond Member
Joined
Mar 10, 2009
Messages
117,063
Reaction score
13,866
Points
2,210
Location
Finger Lakes, NY
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.]

And why do Republicans say that?

Because they know that low income Americans are already at zero income tax, and restoring the payroll tax and cutting the income tax rates will effectively raise taxes back up for the poorer and cut taxes for the richer.

lol, and to think I was joking yesterday when I said the GOP should run on cutting taxes for the Rich and raising taxes on the Poor (after some nuts around here came out for that).
 

Truthmatters

Diamond Member
Joined
May 10, 2007
Messages
80,182
Reaction score
2,265
Points
1,283
Republicans will defend to the death tax breaks for the rich, but don't care about raising taxes on working people.

Its not called a death tax.

that is a republican talking point.

Its inheritance tax.

they wanted to make it sound like people were being taxed to die.

Its actually not taxing dead people.

its taxing people who have inherited like five million or more.

That means you can leave millions to a kid without a dime of tax.
 

Cuyo

Training a Guineapig army
Joined
Feb 17, 2010
Messages
5,681
Reaction score
992
Points
98
Location
Denver, PA
Republicans will defend to the death tax breaks for the rich, but don't care about raising taxes on working people.

You guys are the ones who keep talking about Everyone paying their fair Share while half the People Pay nothing and 10% of them pay 90%.

You guys want to make that even more skewed so even more people pay nothing and the top 10% carry even more of the Burden.

Sorry anyone who knows the Definition of Fair, Knows you are full of shit.

Dude, you're making shit up. Even the most rightwing sources place the top 10 @ around 70%. All these analyses disregard FICA altogether - As stated earlier, EVERYONE who earns even a single dollar in wages pays into FICA. This 'half that pay nothing' DOES. NOT. FUCKING. EXIST.

It's especially ironic that you wheel that crufty shit out in this particular thread, since FICA is precisely what's being discussed.

Promise me... PROMISE, and mean it this time... That you will read something not from Heritage before you post here again. Promise?
 
Last edited:

Missourian

Platinum Member
Joined
Aug 30, 2008
Messages
24,288
Reaction score
11,702
Points
940
Location
Missouri
IOW, liberals are 100% in favor of raising taxes...unless it's their taxes being raised...got it.
 

Avorysuds

Gold Member
Joined
Jul 4, 2010
Messages
13,834
Reaction score
1,658
Points
245
Location
Eugene Oregon
Everyone should be paying their fair share, not just the rich.
 

Truthmatters

Diamond Member
Joined
May 10, 2007
Messages
80,182
Reaction score
2,265
Points
1,283
and what do you call fair share?

squeezing pennys out of the starving?

You would have to have debtors prison for the ones who decided to eat instead of pay taxes.
 

Warrior102

Gold Member
Joined
May 22, 2011
Messages
16,554
Reaction score
4,121
Points
183
Republicans will defend to the death tax breaks for the rich, but don't care about raising taxes on working people.

You guys are the ones who keep talking about Everyone paying their fair Share while half the People Pay nothing and 10% of them pay 90%.

You guys want to make that even more skewed so even more people pay nothing and the top 10% carry even more of the Burden.

Sorry anyone who knows the Definition of Fair, Knows you are full of shit.

Dude, you're making shit up. Even the most rightwing sources place the top 10 @ around 70%. All these analyses disregard FICA altogether - As stated earlier, EVERYONE who earns even a single dollar in wages pays into FICA. This 'half that pay nothing' DOES. NOT. FUCKING. EXIST.

Promise me... PROMISE, and mean it this time... That you will read something not from Heritage before you post here again. Promise?

Why don't you whip out your fucking paycheck and make out a LARGE ONE payable to the U.S. Treasury ?

Go for it. You're wetting your panties in anticipation of higher taxes - go for it !

Stroke the check.

Short of that, STFU
 

USMB Server Goals

Total amount
$142.00
Goal
$350.00

Most reactions - Past 7 days

Forum List

Top