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Thread: House Republicans Cave on Payroll Tax Cuts Extension

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    Re: House Republicans Cave on Payroll Tax Cuts Extension

    Quote Originally Posted by AdamT View Post
    You seem to be missing the critical fact that they aren't reducing revenue. Other taxes and fees are being raised to pay for the payroll tax cuts.
    I do seem to be missing that critical fact.

    What other taxes and fees are being raised to pay for this tax cut?
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    Re: House Republicans Cave on Payroll Tax Cuts Extension

    Quote Originally Posted by Dittohead not! View Post
    I do seem to be missing that critical fact.

    What other taxes and fees are being raised to pay for this tax cut?
    In the case of the two month extension, increased fees for Fannie and Freddie loan originations are paying for the cut. Stupid, but it's paid for. For the longer term cut Democrats were looking to pay for it via a surtax on income over one million dollars.

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    Re: House Republicans Cave on Payroll Tax Cuts Extension

    Quote Originally Posted by AdamT View Post
    In the case of the two month extension, increased fees for Fannie and Freddie loan originations are paying for the cut. Stupid, but it's paid for. For the longer term cut Democrats were looking to pay for it via a surtax on income over one million dollars.
    Neither of which came even close for paying for the actual cost of the cuts, on a yearly basis. Both falling short by over 75%.

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    Re: House Republicans Cave on Payroll Tax Cuts Extension

    Quote Originally Posted by AdamT View Post
    In the case of the two month extension, increased fees for Fannie and Freddie loan originations are paying for the cut. Stupid, but it's paid for. For the longer term cut Democrats were looking to pay for it via a surtax on income over one million dollars.
    Fannie and Freddy.. yes, that's silly, and probably isn't going to make up for the tax cut. Surtax? Sure, and unicorns will frolic...
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: House Republicans Cave on Payroll Tax Cuts Extension

    Quote Originally Posted by Eighty Deuce View Post
    Actually, he is going to get the money. The debt deal passed such that all Obama has do do is ask for it from the Treasury through 2012. He can only be denied if Congress passes a new bill which revokes that privilege. Obama can then veto it, the new bill, and unless they override the veto, he gets the money.
    If he simply gets it he wouldn't need to ask for it.

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    Re: House Republicans Cave on Payroll Tax Cuts Extension

    Quote Originally Posted by 1Perry View Post
    If he simply gets it he wouldn't need to ask for it.
    Actually, he has to submit the request. And THEN he gets it.

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    Re: House Republicans Cave on Payroll Tax Cuts Extension

    Quote Originally Posted by Eighty Deuce View Post
    Neither of which came even close for paying for the actual cost of the cuts, on a yearly basis. Both falling short by over 75%.
    Incorrect. The F&F fee hike is permanent, while the extension is just for two months.

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    Re: House Republicans Cave on Payroll Tax Cuts Extension

    Quote Originally Posted by misterman View Post
    Huh? What are you referring to?
    HAH!!! I just recognized why that was so confusing. That was a crossing of terms faux pas of EPIC failure proportions...DEBT CEILING...not salary cap. Crossed a verbal discussion on sports with a typed discussion on budget. My bad.

    Obama is seeking an increase of the DEBT CEILING...AGAIN. Crossing completely unrelated terms aside...the post is still relevant. I dont see how anyone can trumpet what congress has done this last week as a success. Another temporary budget measure means they will do this retarded dance again in a month or it will expire in 2 months. Again.

    Am I the only one that is disgusted by these congressional budget battles that occur every two months because neither side is willing to actually do their job?

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    Re: House Republicans Cave on Payroll Tax Cuts Extension

    Quote Originally Posted by VanceMack View Post
    Am I the only one that is disgusted by these congressional budget battles that occur every two months because neither side is willing to actually do their job?
    I think everyone is disgusted by it. The only thing worse would be actually letting a law that everyone agrees is beneficial expire rather than passing a temporary extension so they can work out their differences.

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    Re: House Republicans Cave on Payroll Tax Cuts Extension

    Quote Originally Posted by AdamT View Post
    Incorrect. The F&F fee hike is permanent, while the extension is just for two months.
    Which is why I noted "on a yearly basis". DUH !

    Its called kicking the can. As with all things, its giving money out now, to be paid for by the future. So the deficit will rise because of it.

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