- Joined
- Mar 11, 2009
- Messages
- 41,104
- Reaction score
- 12,202
- Location
- South Carolina
- Gender
- Male
- Political Leaning
- Conservative
Because perception is more important than reality in politics.
The SS witholding became a tax back when Lyndon Johnson put the funds in the general fund. Since then, the money has been spent on everything from welfare to war, just like any other tax.
Because perception is more important than reality in politics.
The SS witholding became a tax back when Lyndon Johnson put the funds in the general fund. Since then, the money has been spent on everything from welfare to war, just like any other tax.
So then the attacks on Bush were all BS like I thought. So, if it is a tax, let's do away with it all together, and let me invest for my own retirement. I am sure I would do better than 1% return.
j-mac
So what! That arguably has been the problem.
Oh...and the president is now going to request an additioanl 1.2 trillion dollar increase to the salary cap, because the latest cap extension didnt manage to resolve the problem.
So then the attacks on Bush were all BS like I thought. So, if it is a tax, let's do away with it all together, and let me invest for my own retirement. I am sure I would do better than 1% return.
So then the attacks on Bush were all BS like I thought. So, if it is a tax, let's do away with it all together, and let me invest for my own retirement. I am sure I would do better than 1% return.
j-mac
Precisely what I said was going to happen when they did this the last time...and part of the problem with governing month to month instead of doing their job, passing annual budgets, and sticking to their budgets.Huh? What are you referring to?
Well, partly.
When Bush proposed cutting payroll taxes and mandating that the amount cut be set aside in individual retirement accounts, the Democrats howled foul because Bush is a Republican.
Now that the Democrats want to cut payroll taxes and allow people to do with the money as they will, but only for a limited time, the Republicans decided not to oppose it, but to use it to force the Democratic president to make a decision he doesn't want to make until after the election.
The bottom line is that neither party has any clue how to make up for the lost revenue, they just know that tax cuts are popular.
You seem to be missing the critical fact that they aren't reducing revenue. Other taxes and fees are being raised to pay for the payroll tax cuts.
I do seem to be missing that critical fact.
What other taxes and fees are being raised to pay for this tax cut?
In the case of the two month extension, increased fees for Fannie and Freddie loan originations are paying for the cut. Stupid, but it's paid for. For the longer term cut Democrats were looking to pay for it via a surtax on income over one million dollars.
In the case of the two month extension, increased fees for Fannie and Freddie loan originations are paying for the cut. Stupid, but it's paid for. For the longer term cut Democrats were looking to pay for it via a surtax on income over one million dollars.
Actually, he is going to get the money. The debt deal passed such that all Obama has do do is ask for it from the Treasury through 2012. He can only be denied if Congress passes a new bill which revokes that privilege. Obama can then veto it, the new bill, and unless they override the veto, he gets the money.
If he simply gets it he wouldn't need to ask for it.
Neither of which came even close for paying for the actual cost of the cuts, on a yearly basis. Both falling short by over 75%.
HAH!!! I just recognized why that was so confusing. That was a crossing of terms faux pas of EPIC failure proportions...DEBT CEILING...not salary cap. Crossed a verbal discussion on sports with a typed discussion on budget. My bad.Huh? What are you referring to?
Am I the only one that is disgusted by these congressional budget battles that occur every two months because neither side is willing to actually do their job?
Incorrect. The F&F fee hike is permanent, while the extension is just for two months.
Which is why I noted "on a yearly basis". DUH !
Its called kicking the can. As with all things, its giving money out now, to be paid for by the future. So the deficit will rise because of it.
Yes, that's pretty much the point of passing stimulus measures. You pump money into the economy to combat a demand-side slowdown, then pay it back when the economy has regained strength. Otherwise it's like trying to fill up a hole, where you have one guy shoveling dirt in and another guy shoveling dirt out.
Yes, that's pretty much the point of passing stimulus measures. You pump money into the economy to combat a demand-side slowdown, then pay it back when the economy has regained strength. Otherwise it's like trying to fill up a hole, where you have one guy shoveling dirt in and another guy shoveling dirt out.
The amount of money we are sucking out of the economy to pay for artificially tweaking the economy for the last 30 years is why we are where we are.
The government needs to stop intervening cold-turkey.
I disagree. The reason the debt is so high is that we cut taxes too much and spent too much on foreign wars and defense spending in general. If we had simply left the top effective tax rate where it was in 1986, the current debt would be quite manageable. If Bush had not cut taxes and invaded Iraq, the debt would be quite manageable. Basically what it comes down to is this: we have to realize that we can't have low taxes and a strong safety net and be the world's police man. We can do one of those, or possibly two, but not all three.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?