After Congress caved in to Harry Reid changing the payroll tax extension from a full year to two months, Barack Obama parroted a math error first reported on CNBC.com that this payroll tax extension would save the average American family $1,000. That is wrong. The Republican bill would have saved the average family $1,000, but the Reid bill they passed will only save the average family $166.
Obama said this on his facebook page:
[h=6]President Obama congratulates members of Congress for reaching an agreement to extend the payroll tax cut: "Because of this agreement, every working American will keep his or her tax cut—about $1,000 for the average family."[/h]In order for the average family to save $1,000, the average family would have to be making $25,000 a month. I don't make that kind of money. Maybe Obama does.
So here is the question. They are taking credit for the results of the Republican bill, even though they shot it down and passed the much more anemic Democrat bill. Incompetence or intentionality?
Now, if you’re a family making about $50,000 a year, this is a tax cut that amounts to about $1,000 a year. That’s about 40 bucks out of every paycheck. It may be that there's some folks in the House who refuse to vote for this compromise because they don’t think that 40 bucks is a lot of money. But anyone who knows what it’s like to stretch a budget knows that at the end of the week, or the end of the month, $40 can make all the difference in the world
You think the President actually said that or calculated those numbers?
He has a whole staff of people who do all his work for him - I doubt he has a clue about any of it.
After Congress caved in to Harry Reid changing the payroll tax extension from a full year to two months, Barack Obama parroted a math error first reported on CNBC.com that this payroll tax extension would save the average American family $1,000. That is wrong. The Republican bill would have saved the average family $1,000, but the Reid bill they passed will only save the average family $166.
Obama said this on his facebook page:
President Obama congratulates members of Congress for reaching an agreement to extend the payroll tax cut: "Because of this agreement, every working American will keep his or her tax cut—about $1,000 for the average family."
In order for the average family to save $1,000, the average family would have to be making $25,000 a month. I don't make that kind of money. Maybe Obama does.
So here is the question. They are taking credit for the results of the Republican bill, even though they shot it down and passed the much more anemic Democrat bill. Incompetence or intentionality?
It was an intentional lie. If BO's mouth is open, he's lying about something. The $1,000 savings was based on the payroll tax being lowered for an entire year........all that is being passed is a two month extension. As usual, the drive-by media and the liberal tools will cover The Chosen One by perpetuating his dishonesty. The first affirmative action president can not be allowed to fail.After Congress caved in to Harry Reid changing the payroll tax extension from a full year to two months, Barack Obama parroted a math error first reported on CNBC.com that this payroll tax extension would save the average American family $1,000. That is wrong. The Republican bill would have saved the average family $1,000, but the Reid bill they passed will only save the average family $166.
Obama said this on his facebook page:
[h=6]President Obama congratulates members of Congress for reaching an agreement to extend the payroll tax cut: "Because of this agreement, every working American will keep his or her tax cut—about $1,000 for the average family."[/h]In order for the average family to save $1,000, the average family would have to be making $25,000 a month. I don't make that kind of money. Maybe Obama does.
So here is the question. They are taking credit for the results of the Republican bill, even though they shot it down and passed the much more anemic Democrat bill. Incompetence or intentionality?
After Congress caved in to Harry Reid changing the payroll tax extension from a full year to two months, Barack Obama parroted a math error first reported on CNBC.com that this payroll tax extension would save the average American family $1,000. That is wrong. The Republican bill would have saved the average family $1,000, but the Reid bill they passed will only save the average family $166.
Obama said this on his facebook page:
[h=6]President Obama congratulates members of Congress for reaching an agreement to extend the payroll tax cut: "Because of this agreement, every working American will keep his or her tax cut—about $1,000 for the average family."[/h]In order for the average family to save $1,000, the average family would have to be making $25,000 a month. I don't make that kind of money. Maybe Obama does.
So here is the question. They are taking credit for the results of the Republican bill, even though they shot it down and passed the much more anemic Democrat bill. Incompetence or intentionality?
After Congress caved in to Harry Reid changing the payroll tax extension from a full year to two months, Barack Obama parroted a math error first reported on CNBC.com that this payroll tax extension would save the average American family $1,000. That is wrong. The Republican bill would have saved the average family $1,000, but the Reid bill they passed will only save the average family $166.
Obama said this on his facebook page:
[h=6]President Obama congratulates members of Congress for reaching an agreement to extend the payroll tax cut: "Because of this agreement, every working American will keep his or her tax cut—about $1,000 for the average family."[/h]In order for the average family to save $1,000, the average family would have to be making $25,000 a month. I don't make that kind of money. Maybe Obama does.
So here is the question. They are taking credit for the results of the Republican bill, even though they shot it down and passed the much more anemic Democrat bill. Incompetence or intentionality?
Nobody seems to care anymore about doing the right thing. The Country is addicted to deficit spending. The future generations will experience considerably less growth in GDP as their earnings are sucked up servicing the trillions of new debt and exploding SS liabilities.it doesnt matter....if they are not going to make it permanant they need let it expire because it is nothing more than a political tool anyway,......let people get used to and extra $40 a month in their paycheck and then dangle the threat of losing it during an election year..............however, they better not start complaining that FICA is in trouble (or in deeper trouble) because it is underfunded due to 2 -3 years of payroll tax cuts
Nobody seems to care anymore about doing the right thing. The Country is addicted to deficit spending. The future generations will experience considerably less growth in GDP as their earnings are sucked up servicing the trillions of new debt and exploding SS liabilities.
You are correct, this isn't a tax cut. All this is is an underfunding of retirement plans. Brilliant.
They are extrapolating it out to an year. Obviously they expect negotiations to pass a year long extension. This is thread is dumb and a waste of time.
Borrowing money to pay current liabilities is underfunding an obligation......period. If I borrowed money to make a 401k contribution I have underfunded my account since I have a net zero increase in my overall net worth. This isn't semantics, it's reality.This 'tax-cut' isn't reducing the SSI pool of income. SSI is taking the same amount from the treasury as ever before. The funds just aren't being delivered to the treasury. In other words: we're simply increasing our debt. Not underfunding retirement plans. I know it sounds like semantics, but you have to know the accounting so that the other side can't simply prove you wrong through your own ignorance. The truth is actually much worse than underfunding the retirement program. It comes back to overspending.
Borrowing money to pay current liabilities is underfunding an obligation......period. If I borrowed money to make a 401k contribution I have underfunded my account since I have a net zero increase in my overall net worth. This isn't semantics, it's reality.
You can document these claims? Dunno, but I trust his random numbers more than your random numbers.
But it was okay to borrow when President Bush borrowed money from China to finance HIS war on Iraq, oh I forgot that debt went away when he left office or did it?
"The buck stops here!"You think the President actually said that or calculated those numbers?
He has a whole staff of people who do all his work for him - I doubt he has a clue about any of it.
But it was okay to borrow when President Bush borrowed money from China to finance HIS war on Iraq, oh I forgot that debt went away when he left office or did it?
Let's pretend that I'm a Bush supporter (which I am NOT. He is at the top of the list for doing the most damage to the GOP in history - that party needs to be reformatted NOW). So pretending I'm a typical repub "YEAH! IRAQ WAR! LET'S DO STUFF! 9/11 rhubarb rhubarb rhubarb " Does that make the decisions Obama is making more justified? I just don't see where you could possibly be coming from in pointing out Bush's flaws to justify Obama's. Pretty weak.
Convoluted and strange reasoning...make no sense..Borrowing money to pay current liabilities is underfunding an obligation......period. If I borrowed money to make a 401k contribution I have underfunded my account since I have a net zero increase in my overall net worth. This isn't semantics, it's reality.
May I ask what obama has done to earn your trust? His bogus numbers are put out there precisely for people like you, people who blindly follow without question. Sad part is how many people like you there are, don't dare do the math yourself, don't ever question your so called leader just follow him over the cliff like a lemming.
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