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So a couple of things here I'm wondering then my thoughts...
Liberals. All thorughout the Bush Tax Cut debate in December many steadfastly stated that not extending the Bush Tax Cuts was not a tax INCREASE but rather simply letting tax rates go back to what they were supposed to be since it was just expiring. As such, is what the Republicans doing a tax increase or is it simply letting the tax rates go back ot what they were supposed to be?
Similarly, to conservatives. Throughout the Bush Tax Cut debate in December many of you stated that regardless of the way it happened, the actions of the Democrats would cause taxes to increase and thus they were pushing a tax increase. Are the republicans now pushing a tax increase?
Here's my view on this...
Yep, its a tax increase. Its also one I have no huge issue with. I think the economic benefit of the additional money it puts into the market is largely negated by the short term nature of it, which I think is likely to lead it to be saved or simply used to pay down debt rather than actually significantly reinvested back into the economy on the near term. One or two year temporary tax holidays do little but let people have money they know is temporary and tenuous during a troubled time for the economy. What helps to stimulate is conrete, stable, secure economic conditions and a short term drop doesn't really do that.
Do I have a huge issue with the payroll tax holiday occuring? Not at all. I don't have an issue with it being passed. I'm not necessarily angry if it doesn't get passed either because I can objectively look at, understand, and agree with the reason for opposing it.
I do find it a wonderfully delicious bit of hypocrisy on BOTH sides, though I find utmost and distinct humor in the fact that the AP via MSNBC decided to...shockingly...focus only on the republicans. On one side, you have Republicans pushing against something that would cut taxes and put money into peoples pockets. On the flip side, you have Democrats pushing for something that will reduce revenue during a time when they say its most important to increase revenue.
Liberals. All thorughout the Bush Tax Cut debate in December many steadfastly stated that not extending the Bush Tax Cuts was not a tax INCREASE but rather simply letting tax rates go back to what they were supposed to be since it was just expiring. As such, is what the Republicans doing a tax increase or is it simply letting the tax rates go back ot what they were supposed to be?
Similarly, to conservatives. Throughout the Bush Tax Cut debate in December many of you stated that regardless of the way it happened, the actions of the Democrats would cause taxes to increase and thus they were pushing a tax increase. Are the republicans now pushing a tax increase?
Here's my view on this...
Yep, its a tax increase. Its also one I have no huge issue with. I think the economic benefit of the additional money it puts into the market is largely negated by the short term nature of it, which I think is likely to lead it to be saved or simply used to pay down debt rather than actually significantly reinvested back into the economy on the near term. One or two year temporary tax holidays do little but let people have money they know is temporary and tenuous during a troubled time for the economy. What helps to stimulate is conrete, stable, secure economic conditions and a short term drop doesn't really do that.
Do I have a huge issue with the payroll tax holiday occuring? Not at all. I don't have an issue with it being passed. I'm not necessarily angry if it doesn't get passed either because I can objectively look at, understand, and agree with the reason for opposing it.
I do find it a wonderfully delicious bit of hypocrisy on BOTH sides, though I find utmost and distinct humor in the fact that the AP via MSNBC decided to...shockingly...focus only on the republicans. On one side, you have Republicans pushing against something that would cut taxes and put money into peoples pockets. On the flip side, you have Democrats pushing for something that will reduce revenue during a time when they say its most important to increase revenue.