Psst, taxes go up in 2013 for 163 million workers
Kevin Brady, David Camp
FILE - In this Feb. 1, 2012 file photo, House Ways and Means Committee member, Rep. Kevin Brady, R-Texas, left, makes a comment during a meeting of the Payroll Tax conferees, on Capitol Hill in Washington. A temporary reduction in Social Security payroll taxes is due to expire at the end of the year and hardly anyone in Washington is pushing to extend it. Neither Obama nor Romney has proposed an extension, and it probably wouldn’t get through Congress anyway, with lawmakers in both parties down on the idea. House Ways and Means Committee Chairman Rep. David Camp, R-Mich. listens at right. (AP Photo/J. Scott Applewhite, File)
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loose stool posted at 4:13 am on Mon, Oct 22, 2012.
The democrats cant wait to get their hands on that extra tax money. Wonder how many votes they can buy with it or how many bad loans they will make with it. We all know it wont be saved or invested for social security.
wdgnas posted at 5:08 am on Mon, Oct 22, 2012.
and just how does saint grover of norquist feel about this?
chuckles3 posted at 9:37 am on Mon, Oct 22, 2012.
Hmm, that is just the tip of the iceberg. Don't forget sequestration and the thousands of pink slips awaiting defense workers.
We are headed for another recession if Congress does not address this-problem is it will be in lame duck and the crybaby losers will do all they can to make the other side look bad instead of doing the right thing.
DonMey posted at 10:26 am on Mon, Oct 22, 2012.
They don't want to talk about it, because while they label it a "payroll tax deduction", it is actually a reduction in funding to an already ailing Social Security fund.
DrJCA1 posted at 12:36 pm on Mon, Oct 22, 2012.
Social security is only one of many things the baboons in Washington could fix if they really wanted to. All of our problems are easy fixes - not necessarily good for everyone - buy easy.
SS fix: remove the cap on earnings and include all earnings (wages, dividends, interest, capital gains, etc). With this in place we could actually lower the rate for the tax. Part two is raise the retirement age 1 year every decade. Again, so what? Those middle ager follks would have to work an additional year or two. The very young, perhaps 3 or 4 more. Those of us who pay more into the system would get less back. So what? Those of us who are affluent really don't need that money every month to exist. we get a little less, percentage wise and the poorer folks get a little more. But then again, I'm not a selfish guy who couldn't care less about my grandchildren, but someone who realizes that if we don't fix things, those same grandchildren will have nothing.