A tax cut the GOP doesn’t like!

http://news.yahoo.com/obama-challenges-gop-back-more-payroll-tax-cuts-081824835.html

Portions below from Theweek.com  September, 9, 2011

“Republicans are steadfastly opposed to raising taxes,” said Adam Serwer in WashingtonPost.com. “Except when they aren’t.”  President Obama wants Congress to extend the payroll tax holiday, which he pushed through last year.  It  put more money in average Americans’ pockets and may stimulate the economy a bit.  It is temporary and reduces Social Security deductions from 6.2 percent to 4.2 percent.  Works out to about $1,000 annually for most working families.  Republicans say they are opposed to extending the payroll tax cut for another year, even though last year they aggressively defended the extension of tax cuts for the wealthy.  Even more puzzling is that Republicans introduced and passed a temporary payroll tax cut to stimulate the economy during the recession in 2001 and again in 2008, when George W. Bush was president.

“The GOP was happy to cut the payroll tax to boost economic growth.”  Jonathan Chait in TheNewRepublic.com

http://www.tnr.com/blog/jonathan-chait/94167/why-republicans-turned-against-payroll-tax-cuts

“I know some of you have sworn oaths to never raise any taxes on anyone for as long as you live,” Obama told a joint session of Congress on Thursday night. “Now is not the time to carve out an exception and raise middle-class taxes.”

James Fallows, TheNewRepublic.com:

“I had thought that Republican absolutism about taxes, while harmful to the country and out of sync with even the party’s own Reaganesque past, at least had the zealot’s virtue of consistency. Now we see that it can be set aside when it applies to poorer people, and when setting it aside would put maximum drag on the economy as a whole. So this means that its real guiding principle is… ??? You tell me.”  James Fallows

Reminds me of this post from last year:

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s