The payroll tax deal

2
Congress payroll tax deal

Congressional negotiators gave final approval early Thursday to an economic plan worth more than $150 billion that would extend a payroll tax holiday and unemployment benefits.

Finally it’s done. I don’t know about the increased contribution by fed workers to their pensions. It depends on how their retirement plans compare to similar work in the private sector. My question is why didn’t the Democrats try to use repeal of tax breaks for companies to export jobs as the offset spending cuts? That alone probably would have also covered the extension of employment tax cuts and stemmed some of the flow of jobs out and maybe brought some back now that costs are rising in China.

This is also claimed to be the last major legislation passed before the elections. It doesn’t have to be. He should still try to repeal cuts for outsourcing jobs and still try for more economic and job growth legislation. It’s extremely popular with the public and keeps the GOP on the defensive. Just look at how well he did on this legislation, getting the GOP to break on the employment taxes. He’s on a roll. The best thing he can do to keep rolling is to fight for the poor and middle class by continuing to do things to improve the economy and create jobs and blame the GOP who oppose his plans for the slow growth.

I submit that the economy is not going to be much better at the end of 2012 than it was at the end of 2011. Therefore, it’s almost a given that these concerns be rolled over again for the year 2013.

Approving this bill is proof positive that we are incapable, or unwilling, to make the necessary decisions to bring fiscal discipline back to our government. We are no better than the citizens of Greece or any other European nation experiencing huge debt loads.

I understand why people would like this and other mp3 site if you already have a music collection. I love music but why would I ever buy singles or albums again when I can get unlimited streaming for $10/mo through any number of services????

I don’t see the 1 time full play as very useful at all. I honestly would much rather be able to play a clip as many times as I want than have a 1-time full play. The later is fairly useless, esp considering It’s easy to get a listen to almost anything these days.


Comment

  1. this whole payroll tax issue has demonstrated a lot about our politicians. Fight against something that your party actually historically supports, then change your mind so you don’t get blamed later. Democrats supporting less taxes, republicans supporting more welfare for unemployed and no bill payer. What happened to the Tea Party hold on Congressionals GOPers? The only thing sensible here is that some lawmakers faught for grandfathering current federal workers from the new pension increase requirements. Hopefully, there will be some lawmakers doing the same for the retired military (20-30 years of service), saving them from the huge increases in healthcare premiums/copays in the new Defense budget. Retired soldiers need to be grandfathered from these increases as well.

    — dja615

  2. The President and Congress are buying votes plain and simple. There is little short term economic benefit to the tax break, despite the White House’s effort to create one. But there will be long-term consequences.

    — hokie92

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