Obama Advisers Discuss Cutting Employers Tax Contribution to Social Security Trust Fund!

[Better Believe It]

That's just what working people need. Another big tax cut for employers. That will enable corporate America too stash away hundreds of billions of dollars in cash, reward their executives with bigger bonuses and deprive the Social Security trust fund of more than 100 billion dollars.

How many new good paying jobs will be created with another corporate tax giveaway? None.

And if big business achieves a social security payroll tax cut how long will that that cut last? A very, very long time. To consider another cut in Social Security taxes while we need an increase in funding is doing just what those who want to destroy Social Security want. BBI


Obama Advisers Said to Discuss Seeking Employer Payroll Tax Cut
By Mike Dorning and Hans Nichols
June 8, 2011

President Barack Obama’s advisers have discussed seeking a temporary cut in the payroll taxes businesses pay on wages as they debate ways to spur hiring amid signs that the recovery is slowing, according to people familiar with the matter.

The talks reflect the political constraints the White House is operating under with the Republican majority in the U.S. House pushing to cut federal spending. A hiring stimulus based on a tax break for employers may appeal to Republican lawmakers, many of whom have called for measures to help businesses.

The idea of cutting the employer contribution to payroll taxes also has recently been under discussion among Republican members of Congress, said Douglas Holtz-Eakin, who was chief economic adviser to the 2008 Republican presidential nominee, Senator John McCain of Arizona.

Targeting the employer side of the payroll tax could both attract Republican support and spur job growth, said Christina Romer, who was Obama’s first chairman of the White House’s Council of Economic Advisers.

Read the full article at:

http://www.bloomberg.com/news/2011-06-08/payroll-tax-break-said-to-be-discussed-by-obama-aides-amid-slowing-economy.html

[Angry Dragon]

1. A very stupid idea

and anyone that thinks this a good idea should then give up any government pension they are receiving or will receive..........
Let them put they pockets where their mouth is............

[inna]

2. Obama never fails to disappoint

his real constituency. And I mean, he *delivers*.

[Better Believe It]

7. This may be a "trial balloon". Let's see if Democratic Party leaders shoot it down.

[Donnachaidh]

13. trial balloon? Nah, this is an easy way to slip Simpson Bowles crap through

De-Fund a program, and point at the future problems CAUSED by the de-funding.

Mission Accomplished.

CHANGE we can believe in?

[dflprincess]

26. Exactly n/t

[jtown1123]

3. Here's a great response from CAF:

Companies Only Hire When Customers Are Coming In The Door

Here is something the geniuses haven't noticed, in all their geniosity: It doesn’t matter how much more money you give to business owners, businesses are not going to hire any more employees until they have a REASON to – and that reason is customers coming in the door.

OK, That was bold and italicized. Maybe if I make it ALL CAPS the geniuses will see it? Let's see: BUSINESSES ARE NOT GOING TO HIRE ANY MORE EMPLOYEES UNTIL THEY HAVE A REASON TO AND THAT REASON IS CUSTOMERS COMING IN THE DOOR.

Businesses are not going to hire people just to sit around and listen to iPods or read the paper, waiting for a customer.

The full post: http://www.ourfuture.org/blog-entry/2011062309/businesses-hire-when-customers-are-coming-door

[dixiegrrrrl]

45. But if the idea is to cut the taxes,NOW, on CURRENT employees.....

Viola..instant burst of "profit" for businesses.

Which is what I suspect is the plan, since it fits so nicely with all the other "screw the employees" actions of late.

[ladjf]

4. Another dumb idea by Obama. He almost always disappoints. nt

[Donnachaidh]

14. this isn't disappointing - it's frightening.

He's getting into the same league as the medicare killers in the puke squad.

[ladjf]

28. True. I was just soft pedaling. nt

[TheKentuckian]

5. Way to defund Social Security, fuckwits!

We are already cutting the employee contribution and putting more weight on the general fund.

This will end poorly.

[jtown1123]

9. THis is a disaster

[PassingFair]

6. Raise taxes on the wealthy and bring back the inheritance tax.

Fucking hell!

How are they getting away with this?

[Scuba]

8. Of course they do. n/t

[SoCalDem]

10. "Saving" money for employers will NOT get them to hire MORE people

It's a no-brainer.

If you run a company that is making a tidy profit now with a skeleton crew, why on earth would you hire MORE people?

Let's say your "product" is being produced now in enough quantity to satisfy orders, meet payroll & make a profit for you. Why on earth would you want to over-produce?

Just-in-time production is what business is all about now. Companies don't want warehouses full of stuff that needs to be stored, marketed, insured and later marked down when a newer version comes along.

DEMAND drives production, and as long as people cannot "buy-more", there's no reason to go on a hiring frenzy.

[Jefferson23]

11. Attract Republican support, that is the objective a good deal of the time

regardless of whether or not it is good for the majority of Americans.

[girl gone mad]

12. Only a cut on the employee side would do any good.

A cut on the employer side is a waste in every sense.

[jtown1123]

16. They did that already and it's not working...

[Better Believe It]

15. Republicans Discuss Cutting Employers Tax Contribution to Social Security Trust Fund!

Doesn't that caption seem more in tune with what Democrats should expect?

Republican leaders are discussing it .... along with their friends in the White House.

But more often than not, it seems the Obama administration is pitching conservative Republican ideas on job creation .... corporate tax cuts, more NAFTA like trade deals, more de-regulation of business, etc.,

[Odin2005]

17. Epic Obama FAIL.

[Tierra_y_Libertad]

18. Just for a "change", maybe Obama should try appealing to Democratic voters rather than Republicans.

Naaaah...that would reek of (Gasp!) liberalism.

[n2doc]

19. With advisors like these, who needs Republicans?

If he follows this he will eventually destroy SS, and with it the Democratic Party as it stands. I hope this is wrong.

[Name removed]

20. Deleted message

Message removed by moderator. Click here to review the message board rules.

[JoePhilly]

21. Not a single person from the administration is named in this ...

The article is BS.

I like this quote ... "The people familiar with the discussions wouldn’t characterize how seriously the idea is being considered or whether it has moved beyond initial discussions. Other ideas that have been discussed in the past -- and rejected, according to some administration officials -- include a temporary holiday on corporate taxes on repatriated foreign earnings."

Which "people"? "Some administration officials" ... which ones?

And this quote was funny too ... "A temporary break on employer payroll taxes would echo a centerpiece of the deal Obama and congressional Republicans reached in December 2010 to extend tax cuts enacted during the presidency of George W. Bush."

Really, that was the "Center-Piece"??????

Incredible nonsense.

BTW ... the folks at Bloomberg also thinks that Social Security taxes prolonged the depression.

http://www.bloomberg.com/news/2011-06-07/how-social-security-prolonged-the-depression-echoes.html

[Name removed]

22. Deleted message

Message removed by moderator. Click here to review the message board rules.

[JoePhilly]

24. I hope the authors paid Fox News for using the patented "some say" tactic.

[Better Believe It]

25. Keeping the Bush tax cuts and cutting the Social Security payroll tax was the center piece.

You didn't know that?

They threw in extending federal unemployment benefit extensions to sell the Republican/Obama tax cut deal.

Obama administration officials frequently "leak" information on their meetings and discussions provided the media doesn't identify the leaker.

This is a standard operating procedure for all administrations.

And you also didn't know that?

If the administration wishes to refute this article and report they can and will.

If you can find any administration denial of this report please post it.

Thanks for your interest.

[JoePhilly]

27. Ahhh ... the Obama administration leaked news to anger the left to Bloomberg

Makes total sense ....

Kind of like when the "unnamed" administration officials leaked Obama's plan to announce major cuts to Social Security during the State of the Union (Jan), then when he proposed a budget (Feb), and when he gave a defict speech (Mar).

Each time ... no announcement.

So let's move on ... some new unnamed officials leaked information that would make Obama look bad ... makes TOTAL sense.

I'm sure that's why you posted it. To help the administration.

Oh ... I love that the "administration has to deny the story" part.

You might need to pay Fox news for using that framing, I think they still hold that patent on that one as well.

[Better Believe It]

30. Are you also unfamiliar with the political term "trial balloon"?

If you don't think the Obama administration "leaks" information on their meetings and discussions I suppose the term "administration trial balloon" is also a complete mystery to you.

And I don't recall any DU'ers claiming that Obama "leaked" news that he planned to announce major Social Security cuts in his SOTU speech. But, nothing like putting up a straw man to knock down!

And you don't think tax cuts was an important element in Obama's tax cut deal with Republicans last December!

Thanks for the info!

Sure it wasn't.

[JoePhilly]

32. DU had days and days of posts on those predictions ...

all naming "unnamed sources". I'm sure you did not participate.

And as for those tax cuts ... the article you posted does not claim those as the Center Piece ... your article claims that the temporary payroll tax cut was the Center Piece. Which is wrong.

Look, I encourage you on your efforts. I love reading your posts.

In fact ... when I debate right wingers (in other on-line venues) who are screaming that Obama is an evil socialist, I often use the sources you provide to argue that they are totally full of %$#$%.

And when I use Bloomburg, a source they LOVE ... it drives them totally nuts.

So thanks.

[Better Believe It]

33. Please post a link to any DU post that said the Obama administration leaked news that President

Obama planned to announce major social security cuts in his SOTU speech.

I saw none quoting any news article that claimed such a leak.

You claim there were many.

Post a link to just one of them .... if you can.

[JoePhilly]

34. Took me 8 seconds ... you suck at this game.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x572164

"White House strategists believe this can also give Obama “credit” for getting serious about deficit reduction — now more urgent with the nearly $900 billion increase in the deficit via the tax cut deal."

Which "White House Strategist" leaked this???

Thanks for playing!!!

[Name removed]

37. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[JoePhilly]

35. Here is another ...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x7529853

[Better Believe It]

36. There is no White House leak mentioned in the post.

[JoePhilly]

39. SO where did they get the information of the deal to cut ...

A deal which did not occur?

These claims that at any second Obama is going to cut social security and medicare have ZERO reality attacked to them ... every single one is SPECULATION ... that gets presented as FACT.

Oddly, not one of these predictions has been correct.

[hfojvt]

40. that one seems to have been proven true

since it was shortly after that that Obama created the infamous catfood commission which proposed a number of cuts to social security and medicare. Many of which Obama embraced in his recent deficit speech.

[JoePhilly]

41. The article claims that he would then announce these scary cuts ...

Where are they?

The article claims that a deal was made. Where is it?

I don't see it.

But I will admit that it us fun here on DU when an article like that one comes out and some portion of DU flips out about how evil Obama is for cutting Social Security.

Although he has not. Wheeee.

[hfojvt]

43. not yet

But December certainly proves that we cannot trust him. Wheeee.

[amborin]

23. setting the stage further for the full right wing agenda

[Better Believe It]

29. Self Delete

Deleted

[Cali_Democrat]

31. More failed supply side economics

:banghead:

[Rex]

38. You know...a trick only works once or twice...that is why it is a trick.

After that, everyone knows what is up and gets ready to be thrown under the bus while eyeballing food prices and trying to pay for gas to get to work. Well, the working poor that is. The group that is hated the MOST in Washington D.C.

Why do pols hate poor people the most? Don't they go and fight most of the wars for the rich? That not enough anymore?

[joeybee12]

42. That's it, these people are stupid...DEMAND will drive hiring...

Idiots.

[hulka38]

44. Nothing but supply-side economics that has failed this nation

for the past 30 years coming from this administration. Is that what the centrists call pragmatic?

[TransitJohn]

46. Chess Move®

:banghead:

[Better Believe It]

47. The eleven dimensional kind?

[Name removed]

48. Deleted message

Message removed by moderator. Click here to review the message board rules.

[senseandsensibility]

49. This is what should be at the top of GD

not endless weiner threads. If you agree, let's keep this kicked.

[Better Believe It]

50. I agree. Especially since it's one of my posts!

:)