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13 Feb 2012 16:47


Politics: GOP caves on payroll tax cut; 10-month extension set to pass

  • 10 month extension of the payroll tax cut is likely to pass source
  • » Good news for Democrats:  GOP leadership has indicated that they’ll pass a 10-month extension of the payroll tax without any offsets in spending. Democrats had wanted to balance the tax cut, in part, with higher taxes on the rich; Republicans wanted to do so, in part, with cuts to unemployment benefits. Ultimately, they couldn’t agree, and so it will be passed with no offsets at all. Why is this good news for Democrats? Well, the GOP took a hard-line against the payroll tax cut–which largely benefits the middle-class–last December, making the once-benign policy a partisan issue. Democrats, by and large, were okay passing it sans offsets–the suggestion to pay for it via tax cuts on the rich was more a general effort to increase taxes on the rich–and so the fact that the extension is going to pass is a political and legislative win for Democrats. But the extension expires in ten months–right around the presidential election–so this fight is only over in the short-term.

17 Jul 2010 11:54


Politics: Obama thinks Republicans have disdain for the poor

  • They’ve got no problem spending money on tax breaks for folks at the top who don’t need them and didn’t even ask for them; but they object to helping folks laid off in this recession who really do need help.
  • President Barack Obama • Trying to cast the GOP as the party of the rich. The crux of his argument is that the party pushed through the Bush-era tax cuts for the rich, but are unwilling to help out the unemployed in their time of need. Or another way to put it – the GOP prefers to allow a trickle-down from the rich to the poor, while the Democrats would prefer that the government help the poor. However, it’s worth pointing out that while Bush cut taxes, he also extended unemployment – with GOP support. So take from that what you will. source