"The continued extension of a temporary payroll tax holiday has serious
long-term implications for Social Security and, frankly, it's not even
clear that it has helped to boost our ailing economy." - Orin HatchInteresting.... so it is unclear that a tax break boost our ailing economy.
But isn't someone one running an a platform that is pretty much based on
the notion that all our economy needs is to decrease taxes, and life will be
puppy dogs and unicorns?So they are for tax cuts... but not. I
could have sworn the Romney economic theory was that if you cut taxes enough -
you will balance the budget.... still looking for the math that supports this
idea. It didn't work under Reagan, it didn't work under Bush 1, and
it didn't work under Bush II.... but this time, well, things will be
But he said it wouldn't go up a dime, yet Barry gave billions to the Muslim
Brotherhood, China, Egypt, Pakistan, etc. Will half our citizens still be
exempt from paying?Obama! Quit your golfing , vacationing,
campaigning, and try being a president. Keep your word.
Why is the social security base growing from $110k to $113.2k this year when
inflation is up less than 2%. The average worker will never get ahead of this
egregious tax. Why not let us save the 15% or so we pay in Social Security
(employee + employer share), and invest it wisely? I'll tell you why!
Because this ponzi scheme would collapse without all of the young workers at the
bottom of the pyramid supporting it!If I could have been saving my
15% annually, I could have retired by now. Instead, I'll have 15% of my
income taxed from now to eternity to support Social Security. And me, and many
other younger workers will likely see our Social Security taxes rise during the
remainder of our working lives, while our benefits will be cut, probably
drastically. Why? So that we can support the wealthiest demographic - those
over the age of 65.Social Security is a farce and a ponzi scheme.
Make politicians live by the same set of rules they force upon the people.
It's time to make politicians accountable to the people. The people have
been lulled to sleep by the glib tongues of politics. Until they respond
appropriately to our needs, keep voting them out of office.
@carmanYour premise might also save you being identified as one of
the free-loading 47% of American Citizens (active military, senior citizens and
students) romney and repubs so dearly despise.
Oh, goody, I can hardly wait to pay more taxes. This sounds too
much like the federal government, the state government, the local government,
the school board, the water district, the sewer district, the secondary water
district, the gasoline tax, the taxes on utility services and all the numerous
government-mandated fees that continually go up. Surprising......??? No!
Are you saying that Romneys plan is to let the Bush tax cut expire and then
replace that with his accross the board -20% tax cut? That is a whole lot
different than what either Obama or Romney is is saying in public. I am against
a new tax cut for the wealthy anyway but clarifying this issue would be
important for people to understand. Anyone know the "yearly"
value of the Bush tax cuts? I thought it was roughly 1 Trillion dollars.
Romneys proposed tax cut was nearly 5 Trllion over 10 yrs? Would it be correct
to say Romneys plan (not counting estimated growth) is double Bushs tax plan?
And this will be spun as an OBAMA tax increase and will be perpetuated by Fox
and AM radio.I agree that the "temporary" tax should expire.
We cant fix Social Security by cutting its funding.By the same token, the
"temporary" Bush tax cuts should also expire.Can someone
explain how one tax cut could theoretically stimulate the economy and another
one would not? Isn't an extra dollar in ones pocket the same, regardless
of where it came from?Proving once again, It's all just
This tax deferred program was a deception to cheat the american people out of
SSA to expand the power and growth of government and no one even noticed any
change in IRS taxation. This deferment was about defunding the SSA to destroy it
and steal all its funds that belong to taxpayers. The last 20+ years of
defunding SSA has stripped retirement hopes from millions of Americans who will
never be able to retire if it is not restored at once. Letting this plan to
restore will just restore funds to SSA and Medicare and Medicaid. The American people do not know how to invest wisely or maintain an investment
retirement account. This conceptual investment retirement system has failed many
times in the past (1890's,1929, and 2008) when the stock market crashed
just as the investors were about to retire, intentional?That is why
we have the SSA and it is the only safe retirement plan, smaller but secure.
People can offset paying full SSA payments by reducing payments to the 401k
plans etc., will be a wash as far as take home pay.
There will never be enough tax revenue for Democrats. The issue who will cut
spending. Government spending could easily be cut 10-15% and should be cut
more like 25%.Who will cut spending?
"Government spending could easily be cut 10-15% and should be cut more like
25%"Are you suggesting that the GOP is proposing 10-15% cuts?The problem is that reducing taxes is easy. And Popular.Cutting
spending is hard and unpopular.That is why our taxes are currently
at all time lows and our spending is at all-time highs.That is also
why Romney can quickly and easily tell us that he will cut taxes 20% across the
board, but sidesteps the part where he will make spending cuts or reduced
deductions.While it is nice to put the blame on the Dems, history
has shown that the GOP is equally guilty.
@outsideview"Anyone know the "yearly" value of the Bush tax
cuts? I thought it was roughly 1 Trillion dollars. Romneys proposed tax cut was
nearly 5 Trllion over 10 yrs? Would it be correct to say Romneys plan (not
counting estimated growth) is double Bushs tax plan?"Romney
wants to keep the Bush tax cuts, get rid of the Obama tax cuts that were in the
stimulus bill (1/3 of that 800 billion was tax cuts set to expire the end of
this year) and then reduce rates by 20% below bush levels. The bush
tax cuts are scored as increasing the deficit 4 trillion over 10 years or 400
billion a year. Extending them 10 more years would add another 5 trillion.
Romney then wants another 5 trillion dollar tax cut that theoretically will be
paid for with tax loophole closures though the details on that have been minimal
at best and would still have to get through Congress.
I would try to refute some of the absurdity of our liberal friends that have
commented, but I don't need to waste any energy. Romney will get
Utah's 6 votes. The SS tax cut was a bid idea from the beginning. It
could never really help the economy because of all the other problems and it has
definately hurt the SS trust fund. It was just an attempt by confused and dazed
politicians to get votes. Until we stop the crazy spending, and SS and
Medicare are a huge part of that crazy spending, there is not enough taxes to
collect, even at 90% rates for everyone to pay for the expenses. When I retire
in a few years, my spouse and I will receive almost $50K/year from social
security plus all the medicare benefits. That is ridiculous! Americans need
to be self accountable and start saving for their retirement. Until then, we
will continue to be a weak nation.
Re: "So they are for tax cuts... but not."They -- and we --
are for long-term, comprehensively-applied, structurally-based tax reform,
including cuts.The bogus, temporary, indeterminate "tax
holiday," applied as a destructive vote-buying scam by the Obama regime
doesn't even come close.
America is great, because America is good.We need leadership which
does not promote coveting, lying, adultry, stealing, but one that respects God
as the creator of a country which supplies free choice.
To see the Secretary of the Treasury use threats to show that the Republican
House of Representative leadership won't bend, that is a travesty.The House is going by what is in their charter and in the Constitution of the
United States of America. They wanted a Secretary of the Treasury that would do
his duty of coming up with a budget for the past 3 years that would fulfill his
obligation. They wanted a Secretary of the Treasury that would pay his taxes to
our country. They wanted a Federal Reserve Board that would do their part to
help keep our country solvent instead of lining their and their financial
cohorts with profits from their process.The House of Representatives
under Republican control want to have a country that is productive not living on
the dole. They want the President to do his job and make a budget or take
theirs and use it to help balance our failing nation.The President
spent $200M a day for security on some of his trips. He thinks money grows on
trees and will make good use of it for his community organizing efforts. Where
are we going if re-elected.
The people are the government, supposedly, by the law and proclomation.
However, people don't go to the polling places to vote. Even with early
voting and absentee ballots, that isn't done by so many people. It takes
effort to register to vote and that means taking time away from the computer,
internet, IPhone, other devices and the gymnastics and running around to various
sports activities to do that job. There are priorities and people
have done this for years: Let someone else determine their destiny. The media and other outlets such as universities and higher education spots,
don't want us to vote as it means their types of activities may be changed
and an accountability may occur. They don't want that. NPR, PBS and
students are fearing for loss of education and media money that can be used to
feed minds with intellectual liberalism. If people don't vote,
then we have to live by the ways our supposedly elected leaders choose for us.
People don't communicate with their legislators at state and federal level
so those people just do what makes them feel good about.It is too
late to register for this election
Carmen, I feel for you. I guess I have been blessed. I haven't seen the tax
break. The "company" I work for is exempt from paying Social Security,
as they have their own investment/retirement program. These last few years,I
have been paying a full 6.2% into that fund. Likewise my employer. Additionally,
my fund being separate from Social Security, means it will still be solvent when
SS goes under.
What is this fiscal cliff I keep hearing about, and how does killing the goose
who laid the golden eggs going to help?Government can't give
the people what it doesn't first take from the people. Kinda like a blood
transfusion from your right arm to your left arm .... through a leaky tube.