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Major Nikon

(36,827 posts)

22. You can't equate the Bush tax cut with the payroll tax cut

Reply to Report1212 (Original post)

Wed Jan 2, 2013, 12:04 AM

Jan 2013

The payroll tax cut was clearly, unquestionably, and unambiguously temporary. Everyone either knew this or should have known this. It was good for the economy while it lasted, but nobody realistically expected it to last longer than 2 years and that includes folks from both sides of the isle.

The Bush tax cuts were something entirely different. Even though a sunset provision was written in, everyone knew the GOP was not going to let go of tax cuts for the rich without kicking and screaming all the way. The only reason some token middle class tax cuts were included was to make it more palatable and to make it harder to let them go.

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Under Obama’s Tax Plan, Middle Class Will Get Higher Tax Increases Than Many Rich People [View all] Report1212 Dec 2012 OP

I think this is dead. Jackpine Radical Dec 2012 #1

Doesn't look dead now unfortunately nt Report1212 Jan 2013 #20

Well, I thought Wisconsin was gonna win the Rse Bowl too. Jackpine Radical Jan 2013 #21

As long as capital gains is taxed differently than wages, that will always be the case TexasBushwhacker Jan 2013 #23

Fine. Extend the payroll tax cut. bluestateguy Dec 2012 #2

Ever heard of the Make Work Pay tax credit? Report1212 Dec 2012 #3

Isn't that the EITC? Sekhmets Daughter Dec 2012 #5

MWP was actually an invention of the stimulus bill Report1212 Dec 2012 #6

The reason I was confused is because MWP Sekhmets Daughter Jan 2013 #16

This message was self-deleted by its author Sekhmets Daughter Dec 2012 #8

Really frustrating isn't it? n/t Sekhmets Daughter Dec 2012 #4

What's the point? ProSense Dec 2012 #7

This message was self-deleted by its author Sekhmets Daughter Dec 2012 #9

You could replace that tax cut with another if you chose nt Report1212 Dec 2012 #14

Fine they never should have done the payroll tax cut in the doc03 Dec 2012 #10

Does that nice chart include the increased capital gains tax or the Medicare surcharge? Igel Dec 2012 #11

Cap gains is a tax on investments Report1212 Dec 2012 #12

Cap gains is a tax on the income earned from the sale of assets Demo_Chris Dec 2012 #13

I feel you nt Report1212 Jan 2013 #15

That's right Yo_Mama Jan 2013 #17

Incredible nt Report1212 Jan 2013 #19

Payroll taxes: Those who receive the benefits are the ones who pay into it...up to a point. Honeycombe8 Jan 2013 #18

You can't equate the Bush tax cut with the payroll tax cut Major Nikon Jan 2013 #22

First, that's only if they die. And second, the payroll tax isn't a tax bhikkhu Jan 2013 #24

It's literally a tax Report1212 Jan 2013 #25

No, it is not a contribution to your retirement. Never has been TexasBushwhacker Jan 2013 #26