Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
In reply to the discussion: I know my timing couldn't be worse, considering all the recent attention from Rush & his trolls [View all]hay rick
(7,611 posts)23. Nobody could have seen this coming...
Excerpt from my e-mail to my representatives in December, 2010 (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9749051)...
The Obama-McConnell compromise proposal is catastrophically flawed.
The worst element is the payroll "tax holiday" which is obviously intended as an assault on Social Security. A year from now, restoring normal contributions will be attacked as a tax hike. The $120 billion stimulus effect (actually only $60 billion from current levels when you deduct Making Work Pay which it replaces) is simply not worth it. Any "compromise" which includes this element should be opposed on that basis alone.
Obama's response to the "hostage" situation on middle class tax cuts and unemployment benefit extensions is to offer the kidnappers yet another hostage to strengthen their future ransom demands.
Eliminating the payroll tax holiday entirely still leaves a very bad bill which should be opposed. We can not afford to be handing the extremely rich money they don't need and that we can't afford to spend on them. The real class warfare issue here is the increased share of income that the richest 1% have annexed over the last 30 years or so. In 1971, the top 1% received about 8% of all income, and by 2007, that number had increased to 23%. Meanwhile, since 1999, median household income has gone DOWN. Among other reforms, we need a vastly more progressive tax system as the first step in correcting this obscene and poisonous imbalance.
The worst element is the payroll "tax holiday" which is obviously intended as an assault on Social Security. A year from now, restoring normal contributions will be attacked as a tax hike. The $120 billion stimulus effect (actually only $60 billion from current levels when you deduct Making Work Pay which it replaces) is simply not worth it. Any "compromise" which includes this element should be opposed on that basis alone.
Obama's response to the "hostage" situation on middle class tax cuts and unemployment benefit extensions is to offer the kidnappers yet another hostage to strengthen their future ransom demands.
Eliminating the payroll tax holiday entirely still leaves a very bad bill which should be opposed. We can not afford to be handing the extremely rich money they don't need and that we can't afford to spend on them. The real class warfare issue here is the increased share of income that the richest 1% have annexed over the last 30 years or so. In 1971, the top 1% received about 8% of all income, and by 2007, that number had increased to 23%. Meanwhile, since 1999, median household income has gone DOWN. Among other reforms, we need a vastly more progressive tax system as the first step in correcting this obscene and poisonous imbalance.
One year turned into two but otherwise the preordained outcome should surprise nobody. As the OP notes: "Most media outlets are doing nothing to help Americans understand what's really going on, and why ending the tax holiday is important."
Edit history
Please sign in to view edit histories.
42 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
I know my timing couldn't be worse, considering all the recent attention from Rush & his trolls [View all]
apples and oranges
Jan 2013
OP
The Republicans wanted the payroll tax increase because it showed Obama raising taxes
plethoro
Jan 2013
#1
Yeah, and maybe Obama could remind the GOP that Reagan raised taxes 11x, 9x on the middle class.
JaneyVee
Jan 2013
#2
Obama and Congress gave those who pay payroll taxes a 2-year or so holiday during which
JDPriestly
Jan 2013
#34
I know that I paid the full amount and that President Obama, as part of the most recent stimulus
JDPriestly
Jan 2013
#40
to bad we couldn't have a discussion about making the 2% permanent and getting even by
klyon
Jan 2013
#11
If you makes the 2% permanent, employers would want their shared matched and that would officially
plethoro
Jan 2013
#30
Media outlets don't explain anything about any of our programs, whether its SS or Medicare or
dkf
Jan 2013
#12
Michael Hudson is, of course, right. But the political will to, for example, fund Social Security
JDPriestly
Jan 2013
#33
Justifying it might be a lot easier if we didn't still have massive tax breaks for the 1%
bread_and_roses
Jan 2013
#17
I wish you the very best of luck in this new year, sir. Your post rings with a certain
plethoro
Jan 2013
#31
There are ways of having a 4.2% rate for lower wage workers and paying into Social Security.
bluestate10
Jan 2013
#38
"Most media outlets are doing nothing to help Americans understand what's really going on," nt
patrice
Jan 2013
#26