December 5, 2011

Tax Takes a Holiday - Chicago Style

Hatched by Dafydd

President Barack H. Obama believes that continuing the payroll tax cut is vital for the American economy:

"My message to the Congress is this: keep your word to the American people and don’t raise taxes on them right now," Obama said. "Now is not the time to step on the brakes. Now is the time to step on the gas. Now is the time to keep growing the economy, to keep creating jobs, to keep giving working Americans the boost that they need...."

Obama said that renewing the payroll tax cut is “important for the economy as a whole” because it will spur spending and hiring and help families pay their bills. But he noted that virtually every Senate Republican voted against his proposal to expand the payroll tax cuts, which he said would have given a typical working family a cut of about $1,500 next year.

...But only if it's "paid for" by enacting a gargantuan tax increase to punish successful people:

"Americans overwhelmingly support our proposal to ask millionaires and billionaires to pay their fair share to help this country thrive," said Senate Majority Leader Harry M. Reid (D-Nev.), announcing that the new measure would be introduced by its sponsor, Sen. Robert P. Casey Jr. (D-Pa.). "Republicans in Congress dismiss it at their peril."

Got it: Now is not the time to raise taxes on Americans; now is the time to raise taxes on millionaires, who either aren't "American" -- or aren't "people." (We also learn that in Obamunism, "fair share" means paying exactly the same as what other people are paying, except a whole lot more.)

Just a thought, but if the payroll tax holiday is truly that urgent, has anybody considered paying for it by, you know, cutting spending? Oops, never mind; I'm embarassed I even asked. Forget I said anything.

Back to the Folies Obamère:

"Now, I know many Republicans have sworn an oath never to raise taxes as long as they live," he said. "How can it be the only time there’s a catch is when it comes to raising taxes on middle-class families? How can you fight tooth and nail to protect high-end tax breaks for the wealthiest Americans and yet barely lift a finger to prevent taxes going up for 160 million Americans who really need the help? It doesn’t make sense."

But the inclusion of the tax on millionaires probably kills any chance for the new bill’s passage and is instead a sign that both parties are still working to score political points on the issue....

Still, Senate Democrats believe they have significant leverage on the issue.

They think the tax cut for workers is widely popular, as is their idea to pay for it with a surtax on millionaires. Already, one Republican, Maine Sen. Susan Collins, voted with 50 Democrats last week to extend the tax cut. Democrats think more might come along rather than risk repeatedly voting against a tax cut.

Gangster government at its most ruthless; it's "the Chicago Way." Or as Chicago's Gale Cincotta -- founder of National People's Action and chief radical architect of Jimmy Carter's Community Reinvestment Act of 1977 -- put it, prefiguring and perfectly encapsulating the essence of Obamunism: "We want it. They've got it. Let's go get it!"

Hatched by Dafydd on this day, December 5, 2011, at the time of 2:10 PM

Comments

The following hissed in response by: Rhymes With Right

And whatever you do, Obama tells us, don't extend the Bush "tax cuts for the wealthy" -- which will have the effect of raising taxes on the average American much more than it will be offset by the payroll tax cut.

The above hissed in response by: Rhymes With Right [TypeKey Profile Page] at December 5, 2011 5:30 PM

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