Payroll Tax Closer To Being Extended

[cybrsage]

Senate Majority Leader Harry Reid issued a statement on the agreement early Thursday, saying the deal will "move the economy forward as it is beginning to gain steam."
"Everything should not have to be a fight, and I am glad that most of my Republican colleagues put the interests of the middle class ahead of politics to forge this agreement," Reid said in a statement. "Americans expect us to put our differences aside and find common ground. In the months ahead, I hope this shift to the middle becomes the norm, rather than the exception."
The $150 billion measure represents a tactical retreat for Republicans, who were generally unenthusiastic about the legislation but eager to move beyond the issue. With the campaign season starting, they don't want Obama and Democrats in Congress to be able to claim that the GOP was standing in the way of a middle-class tax cut.
It represented a rare burst of bi-partisanship in a bitterly divided Congress.
The legislation would continue a 2 percentage-point cut in the Social Security payroll tax, renew jobless benefits averaging about $300 a week for people languishing for long periods on unemployment rolls and protect doctors from a huge cut in their Medicare reimbursements.
The measure carries a price tag of roughly $150 billion over the coming year, partly financed by new auctions of telecommunications spectrum to wireless companies and by requiring newly-hired federal workers to contribute more toward their pensions. The pension provision was watered down from a version sought by House Republicans, and tentatively agreed to by key Democrats, that would have required current federal workers to contribute more to their defined benefit pensions.

The measure also includes a key adjustment to the badly broken Medicare payment formula for doctors, which would otherwise impose a 27 percent cut on March 1 under a 1997 budget law. The $20 billion cost would be covered in part by cuts to a fund created under Obama's health care law that awards grants for preventive care and by curbs on Medicaid payments to hospitals that care for a disproportionate share of uninsured patients.
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Read more: http://www.foxnews.com/politics/201...eal-reached-on-payroll-tax-cut/#ixzz1mYg31jC2

Both sides gave up some so the bill would make it out of committee. Nicely done by both sides.​

 

[xBiffx]

This amounts to what, like $40 a paycheck for the average american? Whootie-fucking-do. Nothing but a political wedge for both sides to act like they care about the average american.

 

[jackstar7]

You can just send me your $40 a check.

 

[xBiffx]

You can just send me your $40 a check.

I am not average so I don't get one. I would if I did though since you asked. :\

 

[Texashiker]

I vote we abolish the payroll tax.

 

[jackstar7]

It was just a suggestion. I could use another... what... almost $1,000.

On the other hand, I'm fine with libraries, schools, and roads, too.

 

[cybrsage]

This amounts to what, like $40 a paycheck for the average american? Whootie-fucking-do. Nothing but a political wedge for both sides to act like they care about the average american.

$40 a paycheck is actually quite a bit of money. $80 a money pays off one of your bills.

 

[xBiffx]

$40 a paycheck is actually quite a bit of money. $80 a money pays off one of your bills.

I can go without strippers for a little while. :sneaky:

 

[cybrsage]

I can go without strippers for a little while. :sneaky:

But if you do not pay them, how will they make their monies!?! Think of the children!

 

[Throckmorton]

This amounts to what, like $40 a paycheck for the average american? Whootie-fucking-do. Nothing but a political wedge for both sides to act like they care about the average american.

For some of us $40/paycheck is a lot.

 

[chucky2]

So both sides got something they can trump for vote buying in the 2012 election time. Amazing.

 

[First]

This amounts to what, like $40 a paycheck for the average american? Whootie-fucking-do. Nothing but a political wedge for both sides to act like they care about the average american.

lol troll. What tard passes up almost $1000/yr.

 

[EagleKeeper]

For some of us $40/paycheck is a lot.

A $40 extra in a weekly paycheck also means that you are earning a lot more than $20/hr - closer to $50/hr

 

[Throckmorton]

A $40 extra in a weekly paycheck also means that you are earning a lot more than $20/hr - closer to $50/hr

Not weekly, bimonthly

 

[Doc Savage Fan]

It's unfunded...just a matter of time before we pay for it.

 

[Doppel]

This a paltry reduction in taxes but still quite meaningful in another way, for it represents another example of utter government ineptitude. When this "temporary" tax reduction came through I considered it irresponsible but also virtually impossible to roll back, and I was right. It's like we don't even give a fvck at all anymore about paying for the future.

Seeing people cheer this is like watching starving dogs fight over scraps in the mud. Myopia is a word that doesn't begin to do the situation justice.

 

[Throckmorton]

This a paltry reduction in taxes but still quite meaningful in another way, for it represents another example of utter government ineptitude. When this "temporary" tax reduction came through I considered it irresponsible but also virtually impossible to roll back, and I was right. It's like we don't even give a fvck at all anymore about paying for the future.

Seeing people cheer this is like watching starving dogs fight over scraps in the mud. Myopia is a word that doesn't begin to do the situation justice.

Figures... The gov gives a tax cut to the people who actually put it into the economy, and it's "myopia". Yet we aren't even allowed to talk about ending tax cuts for millionaires because it creates "uncertainty" for "job creators".

 

[Doppel]

Figures... The gov gives a tax cut to the people who actually put it into the economy, and it's "myopia". Yet we aren't even allowed to talk about ending tax cuts for millionaires because it creates "uncertainty" for "job creators".

Bolded for accuracy. This topic has nothing to do with tax cuts for millionaires.

This tax cut is like how poor people buy their groceries from a corner store at an outrageous cost and don't bulk buy, either. It's completely missing the forest for the trees. Of course, I could be wrong, there may be a magical money tree tended by a group of druids who have a golden glow and it's kept in an underground courtyard in Fort Knox, but if there is no such magical money tree the money saved now in taxes will have to come from somewhere in the future. We all know that. And it won't be from growth or any other such fictional stories we tell ourselves at night.

 

[spidey07]

It's unfunded...just a matter of time before we pay for it.

Yes. Bravo to Republicans for pinning democrats in the corner as increasing the debt. Republicans proposed ways to pay for it but democrats/senate would have nothing to do with that. So republicans said "fine we'll compromise" and democrats think they won. But what really happened is the republicans showed exactly what democrats priorities are - more spending.

Bravo Republicans. Well played. And when it does expire at the end of 2012 they can blame it on Obama because it will be under his watch. McConnell and Boehner are chess masters.

 

[MovingTarget]

Figures... The gov gives a tax cut to the people who actually put it into the economy, and it's "myopia". Yet we aren't even allowed to talk about ending tax cuts for millionaires because it creates "uncertainty" for "job creators".

This. If you want to stimulate the economy, you need to stimulate demand. Tax breaks for "job creators" don't do as much to stimulate demand as tax breaks for the lower economic classes.

And yes, $40 is a lot of money to most people.

 

[EagleKeeper]

Not weekly, bimonthly

That still will put you at the $25/hr bracket


$25/hr * 2000 = 50K

2% of 50K is 1K
1K / 26 wks is $40 bi monthly or $20 weekly

 

[MovingTarget]

Yes. Bravo to Republicans for pinning democrats in the corner as increasing the debt. Republicans proposed ways to pay for it but democrats/senate would have nothing to do with that. So republicans said "fine we'll compromise" and democrats think they won. But what really happened is the republicans showed exactly what democrats priorities are - more spending.

Bravo Republicans. Well played. And when it does expire at the end of 2012 they can blame it on Obama because it will be under his watch. McConnell and Boehner are chess masters.

"Pinning Democrats into a corner"? Hardly. What do you think will be more palatable to the average American?

A) Cut spending on programs that we care about to pay for this tax cut
B) Tax the rich to pay for this tax cut
C) Borrow more money from China to pay for this tax cut

Politicians used to get away with choosing C, but lately this has become much more of a political hot potato. People will scream bloody murder about option A. Option B, which is what the Democrats currently advocate, is highly supported by the general populace. When people notice that their paychecks are missing ~$40 that was there the previous week, they will wonder who dropped the ball. Politicians will then have to respond by choosing one of the above options.

Republicans are pinning themselves into a corner, they just don't know it yet.

Also, LOL at McConnell and Bohner not getting blamed for this if it expires.

 

[spidey07]

Democrats and Obama will get blamed if it expires, it will be under their watch and a new republican president will be prepping to undo all Obama's destruction so it will be easy and even highly enjoyable to blame them.

 

[xBiffx]

lol troll. What tard passes up almost $1000/yr.

lol Asshat. I don't get it to begin with so I am not passing it up. Besides with the strings attached I wouldn't want it anyways. That $1000/yr is costing us how much in interest on the debt. Gotta pay for that sometime. You are right though who cares, you just want your "free" money right?

 

[First]

Yes. Bravo to Republicans for pinning democrats in the corner as increasing the debt. Republicans proposed ways to pay for it but democrats/senate would have nothing to do with that. So republicans said "fine we'll compromise" and democrats think they won. But what really happened is the republicans showed exactly what democrats priorities are - more spending.

Bravo Republicans. Well played. And when it does expire at the end of 2012 they can blame it on Obama because it will be under his watch. McConnell and Boehner are chess masters.

lol. The denial is strrrong with you.