Democrats drop plan to give tax cut to employers

Democratic officials say a new payroll tax cut plan by Senate Democrats drops President Barack Obama 's proposal to award the tax cut to employers in addition to every worker who draws a paycheck.

[Eric Gustafson]

During the debate on extending the Bush tax cuts it was clearly communicated that Tax Cuts do no require off sets in the budgets, now it appears that the side in opposition to extending the wage tax cuts on American workers has pivoted and are claiming that it's essential that tax cuts have to be paid for.

I smell double talk and hypocrisy.

The politicians in Washington are playing their constituents in the electorate as if they're fools.

[CIAMATO]

Both Dem and Repub politicos should be horsewhipped for this travesty. FDR specifically fought fellow Democrats on funding SS with general taxation, claiming that they would use it for political gain. He was correct. It was the only social program that was truly democratic, and the hypocrisy of Dems in this matter is stunning. When GW wanted to allow earners to invest 2% privately, John Kerry and all the others had a COW, claiming it would destroy the sanctity of the program. Now it's OK to not only underfund it but have job providers and taxpayers bear the burden? And SHAME on House Republicans for allowing Obama to flim-flam them on this in the tax bill that Dems ignored for two years- their stance on no tax increases ever has painted them into a corner on putting SS back on a level playing where it was always intended to be.

[inbred Genius]

Do politicians get SS? Do they contribute to it during their political careers? IF they don't, do they have a better plan? In other words, are the forcing something onto us that they don't partake of or participate in?

[Le Jimbo]

ho hum just another odoodle lie, elxposed of course while he is out of town and on vacation. Only 25 days left to get that golf score down for the year.

[Moliner]

inbred Genius wrote:

Do politicians get SS? Do they contribute to it during their political careers? IF they don't, do they have a better plan? In other words, are the forcing something onto us that they don't partake of or participate in?

Get answers here:
http://usgovinfo.about.com/od/uscongress/a/co...

[Eric Gustafson]

inbred Genius wrote:

Do politicians get SS? Do they contribute to it during their political careers? IF they don't, do they have a better plan? In other words, are the forcing something onto us that they don't partake of or participate in?

All "WAGE" earners in America pay social security taxes on the first 106K in wages. Yes, politicians receiving wages for their public service contributes to Social Security.

The other option, investing social security in private accounts would be akin to the present MF Global debacle, Money managers comingling funds and gambling with account holders savings in risky derivative schemes to enrich the brokerages with the intent to cheat the account holders. Same dynamics as the calamity that created the Financial Collapse in 2008 which saw trillions in citizens retirement accounts disappear.

[Eric Gustafson]

All of this nonsense is a total waste of time, Taxes are going up on American Workers if there's a thought that extending those tax cuts will have a positive effect on the American economy. If there's a chance that eliminating those tax cuts will drive the nation's economy to continue to produce and expand job growth the republicans and some democrats will block those tax cuts.

The Republicans would have to be fools to lay down now in the last days before the election year begins in hopes that America falls back into a recession. A recession secures the jobs of those republicans in congress if they can make it appear they aren't at fault for the conditions of the economy.

I'm sure they'll do something for their constituents after a successful elections but right now the American people are just pawns in a political game.

It's only 13 Million unemployed, not enough to sway an election, the other 90% of the work force is just happy to have a job they depend upon for survival.

If in all of this over the last 10 plus years there has been a lesson learned, it's to become self sufficient and stop depending on jobs when and where you can earn and do for yourselves.

[BandMaster]

Obama should change his name to Corzine. Both are identical in that they are crooked and economically retarded.

[BandMaster]

Obama should change his name to Van Jones. Both are identical in that they are crooked and economically retarded.

[Old DuDe]

What! Demo's don't want us to have a tax cut...OMG!
Lets see how does the response go? They are taking the food out of our babies mouths, they don't care about us, they are mean & racist! Oh, wait that's only for Republicans
;>)

[WeTheSheeple]

inbred Genius wrote:

Do politicians get SS? Do they contribute to it during their political careers? IF they don't, do they have a better plan? In other words, are the forcing something onto us that they don't partake of or participate in?

They changed the rules back in the '83/'84 to require Congressmen to participate in Social Security just like everyone else.

[Hoo-else]

Eric Gustafson wrote:

<quoted text>
All "WAGE" earners in America pay social security taxes on the first 106K in wages. Yes, politicians receiving wages for their public service contributes to Social Security.
The other option, investing social security in private accounts would be akin to the present MF Global debacle, Money managers comingling funds and gambling with account holders savings in risky derivative schemes to enrich the brokerages with the intent to cheat the account holders. Same dynamics as the calamity that created the Financial Collapse in 2008 which saw trillions in citizens retirement accounts disappear.

Nope, not all. Many public servants have retirement funds and are exempt from SS. Many of these public servants pay nothing into their own funds.

This is the true travesty. Public servants often pay little or nothing into funds that dwarf social security checks in retirement.

BTW, most, if not all, public employment funds invest in stock and real estate and despite the unsustainable giveaways to civil servants, are in better shap than social security which the politicians use as a piggy bank.

[Vance1]

inbred Genius wrote:

Do politicians get SS? Do they contribute to it during their political careers? IF they don't, do they have a better plan? In other words, are the forcing something onto us that they don't partake of or participate in?

Seattle welfare recipient lives in million-dollar home
http://news.yahoo.com/blogs/sideshow/seattle-...

[Ox Ct]

when they were called "Bush" tax cuts, they were evil!!! Now that Obama extended the bush tax cuts, the Obama taxes are seen as wonderful!

[Taxed Enough Already]

The President is defunding Social Security, that is where the Social Security payments come from after the Congress stole all the FICA contributions.

Sorry everyone who ever paid into FICA, Obama wants the losers to have their fair share of your retirement with Socialism.

[Makes sense]

Vance1 wrote:

<quoted text>
Seattle welfare recipient lives in million-dollar home
http://news.yahoo.com/blogs/sideshow/seattle-...

Sounds like Newt Ginrich and Donald Trump, two really big welfare queens along with all the billionaire banksters living high on the government hog with our bailout tax dollars.

The 99% are waiting for THEIR bailout. The 1% says "Let them eat cake."

If you read your history, GREAT CHANGE usually follows such disparity and the 1% doesn't end up doing so well.

Occupy Wall Street is far from over.

[Taxed Enough Already]

Makes sense wrote:

<quoted text>
Occupy Wall Street is far from over.

Not with the Communist Progressives in the whitehouse supporting the OWS Sheeple because they are helping bring the country down for a communist take over. You are very uninformed.

[swampmudd]

Ox Ct wrote:

when they were called "Bush" tax cuts, they were evil!!! Now that Obama extended the bush tax cuts, the Obama taxes are seen as wonderful!

They are only seen as wonderful by Republicans. The Democrats are still trying to get rid of them. Of course as a Republican the reality of the situation does not matter when you scream out your retarded statements. As usual the Republicans are supporting tax cuts for the rich but are against any cuts for the American worker.

[swampmudd]

Makes sense wrote:

<quoted text>
Sounds like Newt Ginrich and Donald Trump, two really big welfare queens along with all the billionaire banksters living high on the government hog with our bailout tax dollars.
The 99% are waiting for THEIR bailout. The 1% says "Let them eat cake."
If you read your history, GREAT CHANGE usually follows such disparity and the 1% doesn't end up doing so well.
Occupy Wall Street is far from over.

It is bad enough they tell to eat cake but then they hand us old twinkies and try to over charge us for them.

[questioner]

Part of the problem is that labor costs in the US are high compared to many other countries. In many industries labor accounts for up to 80% of costs. Reducing the employer portion of FICA would lessen those costs some. If business can offshore it will because it can make more money. Most businesses try to maximize profits, wouldn't you? Reducing the employer portion of FICA would lessen those costs some.
The question is:
Would reducing employer FICA taxes reduce labor costs enough to bring jobs back to the US?
(I don't know, but it seems doubtful. Don't worry though, inflation adjusted, US 'workers' wages are dropping and when they get to the right level jobs may return.)