Obama to eagerly help the GOP gut-punch FDR: Will extend payroll tax holiday

Even though the initial payroll tax holiday hasn't really done squat for the economy.

Money taken out of the general fund to cover the payroll tax revenue shortfall without a corresponding lifting of FICA cap = yet more non-Social Security social programs to be mercilessly cut in the midst of pending hundreds of billions of dollars slashed courtesy of Obama/GOP debt deal. Plus, of course, the payroll tax extension artificially puts Social Security's future on the hot-seat because it now contributes to the general fund deficit.

http://www.reuters.com/article/2011/08/01/usa-debt-payroll-idUSN1E77014520110801">Obama to keep pushing payroll tax cut extension

AFAIK (and I may be wrong, no time to check, sorry), the Rs are agianst it.

http://marketplace.publicradio.org/display/web/2010/08/25/pm-reich-eliminate-payroll-taxes-to-improve-economy/

Why do they hate FDR? :shrug:

That is not the same thing that Obama called for.

doomsday rhetoric with actual numbers, projecting insolvency sooner than expected...or something to that effect. We're being hosed.

and THIS gets no traction in the media,
and very little attention on Progressive Websites.
Additionally, this "holiday" psychologically (and literally) demeans Social Security as something unpleasant, like going to school,
something we can call a "holiday" on, and everyone can party!
:party:

Any REAL "Democrat" would be promoting an INCREASE in the Payroll Tax by requiring THE FUCKING RICH to pay more (raising the cap), and enjoying the support (hero) of over 80% of the American People.

It looks to me that this was done intentionally
to directly connect Social security funding to the General Fund.
Why else go to all the trouble & complexity?
It would have been so much easier to simply send everyone a check from the General Fund.

Payroll Tax Holiday Directly Connects Social Security to The Deficit

On Edit: Don't be fooled by the "temporary" label.
This "holiday" is PERMANENT reduction in funding for Social Security.
I see no viable avenue for letting the Payroll Tax expire in today's climate,
with a "centrist" at the helm of the White House who is NOW calling for a further reduction for the employers.



I've seen this show before,
and it doesn't end well for the Working Class, the Retired, and the Poor.

Cherish your memories, SUCKERS!
because we're TAKING everything else!
Oh, and get ready for Grandma to move in with you!
Hahahahahahaha!






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the problem comes when it is time to end the holiday. The GOP will fight it, of course. To put the tax back in place, the Dems will have to fight to do that. Will they?

Only at DU. :crazy:

He's also pushing to extend unemployment benefits.

http://online.wsj.com/article/SB10001424053111903454504576490623948066948.html?mod=googlenews_wsj

Mr. Obama is asking Congress to extend the payroll-tax cut, as well as expiring unemployment-insurance benefits, as soon as it returns in September.

Anyone else here wish to do the honors in explaining to the above poster just why FDR would not have approved of this payroll tax "holiday"?

Especially one that could actually pass this congress.

I certainly wish the President would get more aggressive with these tea-nuts and take a harder stance. But, the fact is that the payroll tax is the tax that hits low income people the hardest. One of the simplest ways to re-distribute income to the bottom is to reduce the payroll tax. It's also just about the only politically feasible way, since the Republicans and frankly the Democrats as well would never dream of giving a government handout to able-bodied employed people, even if their wages are poverty level.