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Response to cal04 (Original post)

Sun Jan 22, 2012, 11:10 AM

4. Payroll Tax Holiday Act: Bad Politics, Bad Policy

As the White House and Congress engage on whether to extend the Social Security payroll tax holiday, the Republican-led house has offered HR3630, which, among other things, ties the Medicare physician fix to extending the reduced funding of Social Security. This is an example of two important challenges facing our nation being addressed with poorly thought-out legislation.

The proposed extension of the payroll tax holiday is intended to prevent a hit to our anemic economic recovery. The White House and members of Congress are selling the end of the holiday as a tax increase on the middle class. In fact, this Social Security payroll tax is actually an investment into oneís retirement account. Promoting continued reduced payment into Social Security is the same as telling folks to borrow from their retirement and spend the money now.

Shame on any citizen who buys into the political rhetoric that the opponents of extending this underfunding of future security just want to increase tax rates for the middle class. Greater shame on those politicians who make that claim. Similarly, replacing the billions of dollars (approximately $110 billion/year) that donít come to Social Security from workers paychecks by funds the government has to borrow to cover its huge deficit is bad policy. Surely there are better initiatives to support economic growth.

http://www.forbes.com/sites/beltway/2011/12/13/payroll-tax-holiday-act-bad-politics-bad-policy/


Go ahead Boner - we don't want either one of them

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Arrow 26 replies Author Time Post
cal04 Jan 2012 OP
bigtree Jan 2012 #1
mfcorey1 Jan 2012 #2
ProSense Jan 2012 #3
LineReply Payroll Tax Holiday Act: Bad Politics, Bad Policy
FreakinDJ Jan 2012 #4
ProSense Jan 2012 #8
FreakinDJ Jan 2012 #11
abelenkpe Jan 2012 #5
SoapBox Jan 2012 #6
BumRushDaShow Jan 2012 #7
Dyedinthewoolliberal Jan 2012 #9
99Forever Jan 2012 #10
monmouth Jan 2012 #12
boxman15 Jan 2012 #13
ProSense Jan 2012 #15
LiberalEsto Jan 2012 #14
rhett o rick Jan 2012 #22
leftyohiolib Jan 2012 #16
Travis_0004 Jan 2012 #25
leftyohiolib Jan 2012 #26
Proud Liberal Dem Jan 2012 #17
MjolnirTime Jan 2012 #18
Johonny Jan 2012 #19
Zoeisright Jan 2012 #20
JoePhilly Jan 2012 #21
Poll_Blind Jan 2012 #23
liberal N proud Jan 2012 #24
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