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Thread: Obama wants to lower worker payroll taxes: Republicans are saying no!!

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    Re: Obama wants to lower worker payroll taxes: Republicans are saying no!!

    Quote Originally Posted by mike2810 View Post
    Don't read much do you. You must be from Mars. See post 8.
    "
    The tax break extension they oppose is sought by President Barack Obama. Unlike proposed changes in the income tax, this policy helps the 46 percent of all Americans who owe no federal income taxes but who pay a "payroll tax" on practically every dime they earn." News source msnbc. definately not a right wing news source.
    You aren't making the distinction between income tax and other federal taxes.

    In any case, the purpose of the tax break is to stimulate the economy, and more particularly, the 70% of the economy represented by consumer retail transaction. It's not the most efficient way to stimulate, but given Republican opposition, it's probably the only realistic option Obama has.

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    Re: Obama wants to lower worker payroll taxes: Republicans are saying no!!

    Quote Originally Posted by AdamT View Post
    You aren't making the distinction between income tax and other federal taxes.

    In any case, the purpose of the tax break is to stimulate the economy, and more particularly, the 70% of the economy represented by consumer retail transaction. It's not the most efficient way to stimulate, but given Republican opposition, it's probably the only realistic option Obama has.
    Please take a reading comprehension course. This and other thread linked articles made the distinction. I bolded my statement to help you understand.

    Post 4; "It was a one year deal to lower SS tax for all. Guess you support giving the rich extra money? For the 46% who pay no federal income tax who will draw SS, shouldn't they help keep SS afloat. Everyone who works pays the same rate.
    Last edited by mike2810; 08-22-11 at 11:54 AM.
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    Re: Obama wants to lower worker payroll taxes: Republicans are saying no!!

    Quote Originally Posted by mike2810 View Post
    Please take a reading comprehension course.

    Post 4; "It was a one year deal to lower SS tax for all. Guess you support giving the rich extra money? For the 46% who pay no federal income tax who will draw SS, shouldn't they help keep SS afloat. Everyone who works pays the same rate.
    My bad, you did make the distinction.

    But to answer your question, the long-term health of the SS program is hardly the most pressing issue now. We have a good amount of time to address it. OTOH, the recovery grinding to a halt and possibly slipping back into recession IS a pressing problem that we have to deal with now. A worsening unemployment problem, or a lengthy failure to reduce unemployment, also has a major impact on the sustainability of SS over time.

    As for the rich, FYI, the payroll tax cut is phased out for higher income taxpayers.

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    Re: Obama wants to lower worker payroll taxes: Republicans are saying no!!

    Quote Originally Posted by mike2810 View Post
    GOP may OK tax hike that Obama hopes to block - politics - msnbc.com

    "The tax break extension they oppose is sought by President Barack Obama. Unlike proposed changes in the income tax, this policy helps the 46 percent of all Americans who owe no federal income taxes but who pay a "payroll tax" on practically every dime they earn."
    Where does the stat come from I mean? Like what study?
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    Re: Obama wants to lower worker payroll taxes: Republicans are saying no!!

    Quote Originally Posted by Mr. Invisible View Post
    Where does the stat come from I mean? Like what study?
    go ask the reporter. I quoted from msnbc. I have seen the same stat in other stories.
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