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Many Democrats also are ambivalent about Obama's proposed tax cut extension. They are more focused on protecting social programs from deep spending cuts. Some worry that a multiyear reduction in the tax designated for Social Security could undermine that program's health and stature.
reply to post by mishigas
True...some dems are concerened that the extension of the tax break may harm SS as a whole because of reduced revenue for the program. However, I don't see this as a contradiction in their stance...they would like to do both, but realize that doing one may harm the other.
On the other hand, Republicans continually talk about how they will never raise taxes and that raising taxes now on "anyone" (read: rich people) is a bad idea. But this just shows that when they say "anyone"...it truly does mean just the rich...not the working class.
Originally posted by mishigas
reply to post by whaaa
Well, that's what happens when a Rep prez works with a Dem controlled Congress, eh? Even Reagan got fooled by the lying Dems, who promised spending cuts in return for taxes.
And technically, there were no NEW taxes in the budget compromise.
Originally posted by Misoir
Ideally both the Bush tax cuts and this payroll tax reduction should be terminated immediately. Those who make the argument “we don’t have a revenue problem, we have a spending problem” are the types of people you cannot take seriously when our revenue has plummeted because, 1) Bush tax cuts, and 2) recession. The more tax revenue we can collect to help reduce our yearly deficits the better, in my opinion. And by my interpretation of “shared sacrifice” it means everyone takes a hit, not “well we can raise the tax on everyone under $106,000 income but if you touch $250,000+ we will have an uprising”.
What happened to the Grover Norquist “No Tax Increase” pledge? Or does that just not apply to tax increases on anyone below the $250k bracket?
It is increasingly difficult to rationalize what these Republicans are thinking. One cited low taxes as helping to increase our deficit, which they claim to be against, but then they fought tooth-and-nail for the biggest destroyer of revenue in a generation. If they think tax increases are absolutely essential to battle the deficit, just say it, Americans will not throw you out for being honest. But they damn sure will not have any reservations throwing you out for being hypocritical liars with a careless favoritism towards the rich.
Originally posted by OutKast Searcher
And now Obama wants to extend that for at least one year...there is only one little problem....REPUBLICANS. They don't want you to have that extra cash...they want to raise your SS tax up 2%...they want to stick it to the group of people that need this extra cash the most.