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Thread: GOP may OK tax increase that Obama hopes to block

  1. #11
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    Re: GOP may OK tax increase that Obama hopes to block

    It's probably to get the democrats to "compromise" on the bill that would extend the tax break. For example, we'll extend the SS tax holiday if you add to the bill an extension of bush tax cuts. Or elimination of capital gains tax. Or... whatever.

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    Re: GOP may OK tax increase that Obama hopes to block

    Quote Originally Posted by donsutherland1 View Post
    The temporary reduction in the payroll tax has reduced cash inflows to Social Security. It has had an actuarial impact on the program's long-term imbalances. Moreover, the Social Security Disability Insurance program is nearing insolvency. Unless some offset is found to focus on Social Security's long-term future, which is vital given the importance of the program, I don't necessarily disagree with allowing the temporary tax reduction to expire. This, in my opinion, is a clear example where the long-term should take precedence over the short-term.
    I agree even though this increases the tax burden on those making less than 106k per year.

    And that will not play well in public.

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    Re: GOP may OK tax increase that Obama hopes to block

    What some on the GOP want to raise taxes now!! According to a select few that means that those who want to raise taxes are "socialists" igniting "class warfare"!!!! AHHHHHHHHH


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    Re: GOP may OK tax increase that Obama hopes to block

    Quote Originally Posted by Helix View Post
    wealth trickles up, as well. the GOP seems to spend less time thinking about that possibility.

    that being said, i don't see a way to make social security solvent without increasing revenue. my opinion is that raising the contribution ceiling is the most feasible solution.
    Wealth does indeed trickle up. Putting the squeeze on the middle and working classes means that these people will not be buying the products that corporations produce. The corporation executives are essentially shooting themselves in the foot. Greed causes people to do very strange things.
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    Re: GOP may OK tax increase that Obama hopes to block

    So as the article stated the 46% who pay no federal income tax, yet will draw Social Security when eligable. will have their rate go back to 6.2%. "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."

    Do the 46% who pay no federal income tax, want SS to be around to draw upon or not? We know SS is in trouble.
    "I can explain it to you but, I can't understand it for you"

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    Re: GOP may OK tax increase that Obama hopes to block

    Are you really surprised that the GOP would oppose gimmick tax cuts that rob SS for another year when they plan to simplify the entire tax code ASAP?

    "Too often we enjoy the comfort of opinion without the discomfort of thought."
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    Quote Originally Posted by Montecresto View Post
    It would seem that the constitution is just a god damn piece of paper, to be trotted out when expedient.

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    Re: GOP may OK tax increase that Obama hopes to block

    Maybe we can have 10 threads based upon the same article all at once?

    "Too often we enjoy the comfort of opinion without the discomfort of thought."
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    Quote Originally Posted by Montecresto View Post
    It would seem that the constitution is just a god damn piece of paper, to be trotted out when expedient.

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    Re: GOP may OK tax increase that Obama hopes to block

    Maybe we can have 10 threads based upon the same article all at once?

    "Too often we enjoy the comfort of opinion without the discomfort of thought."
    John F. Kennedy
    Quote Originally Posted by Montecresto View Post
    It would seem that the constitution is just a god damn piece of paper, to be trotted out when expedient.

  9. #19
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    Re: GOP may OK tax increase that Obama hopes to block

    Quote Originally Posted by GPS_Flex View Post
    Are you really surprised that the GOP would oppose gimmick tax cuts that rob SS for another year when they plan to simplify the entire tax code ASAP?
    Ups, yeah, the threads should be combined.
    Last edited by AdamT; 08-22-11 at 01:05 AM.

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    Re: GOP may OK tax increase that Obama hopes to block

    What about that "no tax increase" pledge that most of the GOP took? Either they just want to disagree with Obama, or they only care about the richest 2%, either way this is not good.
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