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Getbig Main Boards => Politics and Political Issues Board => Topic started by: blacken700 on August 21, 2011, 08:17:02 AM
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Source: Associated Press
http://news.yahoo.com/gop-may-ok-tax-increase-obama-hop...
As part of a bipartisan spending deal last December, Congress approved Obama's request to reduce the workers' share to 4.2 percent for one year; employers' rate did not change. Obama wants Congress to extend the reduction for an additional year. If not, the rate will return to 6.2 percent on Jan. 1.
"It's always a net positive to let taxpayers keep more of what they earn," says Rep. Jeb Hensarling, "but not all tax relief is created equal for the purposes of helping to get the economy moving again." The Texas lawmaker is on the House GOP leadership team.
That worries Rep. David Camp, R-Mich., chairman of the tax-writing Ways and Means Committee, and a member of the House-Senate supercommittee tasked with finding new deficit cuts. Tax reductions, "no matter how well-intended," will push the deficit higher, making the panel's task that much harder, Camp's office said.
House Majority Leader Eric Cantor, R-Va., "has never believed that this type of temporary tax relief is the best way to grow the economy," said spokesman Brad Dayspring.
Read more: http://news.yahoo.com/gop-may-ok-tax-increase-obama-hop...
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Payroll tax cut is pure garbage unless you make equal or greater cuts to medicare and ss.
At a time of increasing people going on entitlments and baby boomer retirements, payroll tax cut makes the matters worse.
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more than happy to take $1,000 per year back from the average family but don't touch the top rate
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That's pure garbage and nonsense. Take a math class moron.
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That's pure garbage and nonsense. Take a math class moron.
nice name calling half pint :D
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nice name calling half pint :D
So you want the rich to pay for all of Medicare and ss now too?
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a family making 60k a year they will have an extra $1200 a year in FICA taxes when the cut expires
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Do you even know why there is a payroll tax?
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That worries Rep. David Camp, R-Mich., chairman of the tax-writing Ways and Means Committee, and a member of the House-Senate supercommittee tasked with finding new deficit cuts. Tax reductions, "no matter how well-intended," will push the deficit higher, making the panel's task that much harder, Camp's office said.
But Republican lawmakers haven't always worried about tax cuts increasing the deficit. They led the fight to extend the life of a much bigger tax break: the major 2001 income tax reduction enacted under Bush. It was scheduled to expire at the start of this year
fu#k the middle class
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That worries Rep. David Camp, R-Mich., chairman of the tax-writing Ways and Means Committee, and a member of the House-Senate supercommittee tasked with finding new deficit cuts. Tax reductions, "no matter how well-intended," will push the deficit higher, making the panel's task that much harder, Camp's office said.But Republican lawmakers haven't always worried about tax cuts increasing the deficit. They led the fight to extend the life of a much bigger tax break: the major 2001 income tax reduction enacted under Bush. It was scheduled to expire at the start of this year
fu#k the middle class
A Republican actually admitted that tax cuts increase deficit
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A Republican actually admitted that tax cuts increase deficit
yeah only if their tax cuts for the middle class ;D
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Do you even know why we have a payroll tax blackass?
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Do you even know why we have a payroll tax blackass?
wow more name calling short stuff :D
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Again - why shouldn't people pay for programs they will take money from later?
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That worries Rep. David Camp, R-Mich., chairman of the tax-writing Ways and Means Committee, and a member of the House-Senate supercommittee tasked with finding new deficit cuts. Tax reductions, "no matter how well-intended," will push the deficit higher, making the panel's task that much harder, Camp's office said.
But Republican lawmakers haven't always worried about tax cuts increasing the deficit. They led the fight to extend the life of a much bigger tax break: the major 2001 income tax reduction enacted under Bush. It was scheduled to expire at the start of this year
fu#k the middle class
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333333, instead of railing on people about what you think they don't know, how about just making your point.
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When someone as ignorant as blacken does not even know what the payroll tax is for he deserves to called an idiot.
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333333, instead of railing on people about what you think they don't know, how about just making your point.
I'm sure getting tired of threads that go like this. Instead of explaining what he's talking about, he always posts shit like, "you're a moron, take a class" "you don't know jack" bla bla bla...
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Your right hugo. I guess its too much to expect people to understand basic math anymore.
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I'm sure getting tired of threads that go like this. Instead of explaining what he's talking about, he always posts shit like, "you're a moron, take a class" "you don't know jack" bla bla bla...
Yeah it is getting old.
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Your right hugo. I guess its too much to expect people to understand basic math anymore.
If you can't explain your point just say so. If all you are going to do is post attacks, don't bother.
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Your right hugo. I guess its too much to expect people to understand basic math anymore.
You do this in threads so often it's sick. I'm not just talking about this, anytime you think someone is way off, which is often, you feel like you don't need to explain anything as if everyone just wants to see another thread with 10 posts of you calling someone an idiot.
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the problem with the little fag is he has little man syndrome,so he always has to come across as the big guy
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Social security and medicare have tens of trillions in unfunded liabilities w less people working and more people retiring daily.
Does it make even a scintilla of sense to cut the funding source without also cutting benefits?
A story came out today about ss diability near bankruptcy.
Cutting taxes only makes sense if you also cut benes and costs.
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Was that so hard?
Now it's on Blacken.
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my point is if you want to stop the tax break for the middle class then lets stop the income tax reduction enacted under Bush
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Most middle class people got a tax break under bush. Again - basic math is your friend.
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Most middle class people got a tax break under bush. Again - basic math is your friend.
yeah ok buddy and elevated shoes are your friend :D
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yeah ok buddy and elevated shoes are your friend :D
Can you show how most of the middle class did not get a tax break under bush?
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Social Security disability on verge of insolvency
yahoo news ^ | 5 hrs ago | By STEPHEN OHLEMACHER
Posted on August 21, 2011 8:01:13 PM EDT by DeaconBenjamin
Laid-off workers and aging baby boomers are flooding Social Security's disability program, pushing the financially strapped system toward the brink of insolvency.
Applications are up nearly 50 percent over a decade ago as people lose their jobs and can't find new ones in an economy that has shed nearly 7 million jobs.
Much of the focus in Washington has been on fixing Social Security's retirement system. The trustees who oversee Social Security urge Congress to shore up the disability system by reallocating money from the retirement program, just as lawmakers did in 1994.
This year, about 3.3 million people are expected to apply for federal disability benefits. That's 700,000 more than in 2008 and 1 million more than a decade ago.
The disability program is also being hit by an aging population — disability rates rise as people get older — as well as a system that encourages people to apply for more generous disability benefits rather than waiting until they qualify for retirement.
Retirees can get full Social Security benefits at age 66, a threshold gradually rising to 67. Early retirees can get reduced benefits at 62. However, if you qualify for disability, you can get full benefits, based on your work history, even before 62.
Today, about 13.6 million people receive disability benefits through Social Security or Supplemental Security Income. Social Security is for people with substantial work histories, and monthly disability payments average $927. Supplemental Security Income does not require a work history but it has strict limits on income and assets. Monthly SSI payments average $500.
Last year, Social Security detected $1.4 billion in overpayments to disability beneficiaries, mostly to people who got jobs and no longer qualified, according to a recent report by the Government Accountability Office, the investigative arm of Congress.
www.ssa.gov/disability/
www.cbo.gov/doc.cfm?index=12375
www.gao.gov/products/GAO-11-724
(Excerpt) Read more at news.yahoo.com ...
Yeah, let's further cripple this. If you want to cut out the waste fraud abuse, fine I'm all for shrinking this.
However, do you guys realize how screwed up our finances are?
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Cutting out waste fraud and abuse would make it possible for many many good things.
But that's a pipe dream.
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Cutting out waste fraud and abuse would make it possible for many many good things.
But that's a pipe dream.
I agree. But I am applying basic math and reality. A payroll tax cut without cutting benes is pure ponzinomics.
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Social Security disability on verge of insolvency
yahoo news ^ | 5 hrs ago | By STEPHEN OHLEMACHER
Posted on August 21, 2011 8:01:13 PM EDT by DeaconBenjamin
Laid-off workers and aging baby boomers are flooding Social Security's disability program, pushing the financially strapped system toward the brink of insolvency.
Applications are up nearly 50 percent over a decade ago as people lose their jobs and can't find new ones in an economy that has shed nearly 7 million jobs.
Much of the focus in Washington has been on fixing Social Security's retirement system. The trustees who oversee Social Security urge Congress to shore up the disability system by reallocating money from the retirement program, just as lawmakers did in 1994.
This year, about 3.3 million people are expected to apply for federal disability benefits. That's 700,000 more than in 2008 and 1 million more than a decade ago.
The disability program is also being hit by an aging population — disability rates rise as people get older — as well as a system that encourages people to apply for more generous disability benefits rather than waiting until they qualify for retirement.
Retirees can get full Social Security benefits at age 66, a threshold gradually rising to 67. Early retirees can get reduced benefits at 62. However, if you qualify for disability, you can get full benefits, based on your work history, even before 62.
Today, about 13.6 million people receive disability benefits through Social Security or Supplemental Security Income. Social Security is for people with substantial work histories, and monthly disability payments average $927. Supplemental Security Income does not require a work history but it has strict limits on income and assets. Monthly SSI payments average $500.
Last year, Social Security detected $1.4 billion in overpayments to disability beneficiaries, mostly to people who got jobs and no longer qualified, according to a recent report by the Government Accountability Office, the investigative arm of Congress.
www.ssa.gov/disability/
www.cbo.gov/doc.cfm?index=12375
www.gao.gov/products/GAO-11-724
(Excerpt) Read more at news.yahoo.com ...
Yeah, let's further cripple this. If you want to cut out the waste fraud abuse, fine I'm all for shrinking this.
However, do you guys realize how screwed up our finances are?
Earth to Liberals - we are broke and Obama's plan is only making it worse.
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It was a bad idea pushed by politicians who don't know what is going on and how bad the situation is.
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Social Security disability on verge of insolvency
Yahoo News ^ | August 22, 2011 | Stephen Ohlemacher
WASHINGTON (AP) — Laid-off workers and aging baby boomers are flooding Social Security's disability program with benefit claims, pushing the financially strapped system toward the brink of insolvency. Applications are up nearly 50 percent over a decade ago as people with disabilities lose their jobs and can't find new ones in an economy that has shed nearly 7 million jobs. The stampede for benefits is adding to a growing backlog of applicants — many wait two years or more before their cases are resolved — and worsening the financial problems of a program that's been running in the red for years.
(Excerpt) Read more at news.yahoo.com ...
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Blacken - do you believe that everyone should pay for SS and m,edicare for whgich they will later draw benefits?
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333333, instead of railing on people about what you think they don't know, how about just making your point.
I'm sure getting tired of threads that go like this. Instead of explaining what he's talking about, he always posts shit like, "you're a moron, take a class" "you don't know jack" bla bla bla...
Yeah it is getting old.
If you can't explain your point just say so. If all you are going to do is post attacks, don't bother.
You do this in threads so often it's sick. I'm not just talking about this, anytime you think someone is way off, which is often, you feel like you don't need to explain anything as if everyone just wants to see another thread with 10 posts of you calling someone an idiot.
+1
If he actually refrained from doing this, his post count would drop 90%.
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Look in the damn mirror nancy.
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Boo-Hoo.... a nerve was struck.
If I did, I certainly wouldn't see a 24/7 internet dwelling fat lying middle age lonely insecure sociopath with hallucinations of juvenile delusions of survivalist scenarios where the world ends and everyone lives out of a black duffel bag.
Have fun with that life.
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Boo-Hoo.... a nerve was struck.
If I did, I certainly wouldn't see a 24/7 internet dwelling fat lying middle age lonely insecure sociopath with hallucinations of juvenile delusions of survivalist scenarios where the world ends and everyone lives out of a black duffel bag.
Have fun with that life.
shit you guys know each other :D