The big problem with this "tax break" is three fold:

1. It doesn't stimulate the economy in any way whatsoever. Getting a little bit extra each paycheck doesn't make you go buy a big ticket item. It just gets you used to having it to the point where you "depend" on not paying that tax ever again. A single bigger tax credit has more "stimulus" impact.

2. All it does is kick the can down the road.....these taxes don't really cover the operation of the government, just the FICA and Social Security....which are already headed for problems in the future. That's a great idea, lets take in less $$$ to fund these programs when down the road these same programs wont have enough money in them to sustain them at the levels promised........anyone see the flaw in that logic?

Truth be told, if we want to make those two programs more solvent and at the same benefit levels, we need to increase the money going into their coffers, not decrease it. Giving this tax break this way (with payroll tax cuts) makes the future problem even worse. Feel better about that? You can either cut benefits are raise the revenues for these programs, that's the only ways they will stay around the way they are. Our obligations in the future outweigh the monies we have to pay them.

3. It doesn't stimulate more hiring. As a small business owner myself, I remember Obama talking about in his campaign how he was going to help me with tax incentives, including payroll taxes. The way this payroll tax cut works doesn't benefit me....I still have to pay my full employer half of payroll taxes, only the employee side of the payroll tax gets the break. As a consequence this tax break helps me zero. With the unemployment insurance and payroll taxes being what they are, it's a huge drag on making me want to hire extra people. I just can't wait till Obamacare rolls in and adds the extra weight around the neck that drowns small business owners treading water to survive right now.

If you want to stimulate the economy stupid, give small business owners tax breaks and incentives. Then we can grow and expand. Big industry gets huge bailouts and deals, we small business owners have got exactly what????????

i paid this tax for over 40 years, now that i'm getting old they reduce the tax and talk of having to reduce benefits.

if they want working people to have more cash to spend, there are better tax cuts than trashing the elderly.

this tax cut convinced me that Obama doesn't have a clue as to what he's doing.

and the republicans went along with this to trash him.

may they all go down the drain.

either they are all incredibly stupid or totally evil.

While I am always for the middle class and the poor having the most money in their pocket as possible,

I fear that extending this tax cut is also a bad move. Social Security is too important of a program to put in a more troubling financial situation.

I would be in favor of lifting the cap of 102k which would solve the problem.

However, i am very surprised the GOP and Obama are taking the stances they are.

GOP has long been after privatizing SS, and busting it would help that happen. Don't know what Obama is doing on this one.

Honestly the whole thing is very odd to me...to say the least.

So tax cuts for the wealthy and corporations are fine, but for workers its not fine.

The tax itself would be 6.2% and only applies up to $106,800 a year. In other words if you make $200,000 or $200 million, only 6.2% of $106,800 is going to be taxed.

That, frankly is crock of bovine scat.

We should have a fair across the board percentage. If you make $200 million, 6.2% of $200 million, not $106,800, should be taken out.

What this amounts to is an unfair and unequal system.

Originally posted by ladyinwaiting
As undesirable as it might sound, we are going to have to raise taxes. There is no way around it.
As much as I hate to see my checks shrink each month, I know it's for the best.

It's a dirty job, but somebody has to do it.

It isn't for the best. Can't you see by now that if you give the government more money, they spend it on vote buying. We need to CUT Spending! Real cuts, not these bs "cuts" they have been foisting upon us. CUT! CUT! CUT! then CUT some more.

I am done "contributing" to the Governments filthy addiction. Don't ask because I don't tell, but whatever I do in life I will not contribute one more single red cent to the Government, last time I did the government took it and BAILED out A$$holes that I wouldn't even do business with!!!! Screw the effing government let the feds come after me (IRS) Before I go down bet your A$$ I am taking whoever they send from the IRS down with me!

Hey Neo96!!!

Are you on vacation or something? I expected a three sentence reply and more stars than can be listed by this point. Where you at chief? Much respect and just ribbing you, bro.

So where does the Tea Party stand on this. Are they against raising taxes on working people, or like the repubs, all for higher taxes for working people, and lower taxes for the super rich.

Taxes should be paid on proportion to the benefits received, which means corporations and rich people should be paying for most of the fed gov, which means far more than they currently pay. That would be the top .001% of wage earners.

Reply to : sonofliberty1776

Originally posted by sonofliberty1776

It's a dirty job, but somebody has to do it.

It isn't for the best. Can't you see by now that if you give the government more money, they spend it on vote buying. We need to CUT Spending! Real cuts, not these bs "cuts" they have been foisting upon us. CUT! CUT! CUT! then CUT some more.

I see somebody has been drinking the 'Baugh/Beck Kool-Aid.

We cannot default on our financial obligations. I assume in this right-wing Kool-Aid drinking "think tank", you are wanting to CUT CUT, lol, because you are somehow under the impression that will fix our problems? Ah, not so, grasshopper.

We can't leave our parents and grandparents who have paid taxes into revenues their entire lives, for specific entitlements, to starve.

We can, however, begin taxing corporations, even half of them, that aren't paying anything, and that amount will put quite a dent in our deficits.

First we need to clear congress of those who are bought and paid for by those same corporations.

Therein lies the solutions. Not turning and running from obligations we have made.