Psst, taxes go up in 2013 for 163 million workers

[red states rule]

This is in addition to all the other tax increases due to hit 1/1/13.





President Barack Obama isn't talking about it and neither is Mitt Romney. But come January, 163 million workers can expect to feel the pinch of a big tax increase regardless of who wins the election.
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.

Even Republicans who have sworn off tax increases have little appetite to prevent one that will cost a typical worker about $1,000 a year, and two-earner family with six-figure incomes as much as $4,500.

Why are so many politicians sour on continuing the payroll tax break?

Republicans question whether reducing the tax two years ago has done much to stimulate the sluggish economy. Politicians from both parties say they are concerned that it threatens the independent revenue stream that funds Social Security.

They are backed by powerful advocates for seniors, including AARP, who adamantly oppose any extension.

"The payroll tax holiday was intended to be temporary and there is strong bipartisan support to let that tax provision expire," said Sen. Orrin Hatch of Utah, the top Republican on the Senate Finance Committee. "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."

The question of renewing the payroll tax cut has been overshadowed by the expiration of a much bigger package of tax cuts first enacted under President George W. Bush. The Bush-era tax cuts also expire at the end of the year, and Congress is expected to try to address them after the election, in a lame-duck session.

The payroll tax cut could become part of the mix in negotiations that could go in many directions. But lawmakers in both political parties say they doubt it.

http://townhall.com/news/politics-elections/2012/10/21/psst_taxes_go_up_in_2013_for_163_million_workers

[KarlMarx]

The bill for the Obama presidency is coming due

[fj1200]

The payroll tax extension is a loser argument for Romney. They are economically pointless as far as stimulus goes and it would just be another talking point about tax cuts for the rich with tax increases for the poor. Never mind that it's gutting Social Security.

[tailfins]

That's just because the Republicans are holding the 99% hostage to defend tax cuts for the 1%. :laugh2: The payroll tax holiday expiration is in addition to the income tax rate increase which is also coming soon.

[aboutime]

That's just because the Republicans are holding the 99% hostage to defend tax cuts for the 1%. :laugh2: The payroll tax holiday expiration is in addition to the income tax rate increase which is also coming soon.


That sounds good...at first tailfins. Democrats are convinced that is true. I can't wait to hear them tell us how it works after a Democrat in the White House, and in control of the Senate ALLOWS the nearly ONE TRILLION dollars in what they call THE BUSH TAX CUTS...to expire.

Then let them go right ahead and try to blame the Republicans.

But their problem is. For Obama as well. The American people Really Are Paying Attention THIS TIME.

[tailfins]

That sounds good...at first tailfins. Democrats are convinced that is true. I can't wait to hear them tell us how it works after a Democrat in the White House, and in control of the Senate ALLOWS the nearly ONE TRILLION dollars in what they call THE BUSH TAX CUTS...to expire.

Then let them go right ahead and try to blame the Republicans.

But their problem is. For Obama as well. The American people Really Are Paying Attention THIS TIME.

53% of the American people Really Are Paying Attention THIS TIME.

[aboutime]

53% of the American people Really Are Paying Attention THIS TIME.



You bet they are. Problem is. Most of those 53% only paid attention to the color of Obama's skin in 2008.

Thankfully for the Internet. The Democrat, Education, Prevention Squads used liberally in 2008, have not been as successful in Lying to the American people who NOW can read, and understand more than FOUR LETTER words, or be easily Bribed with Cell phones, and POT.

[darin]

IF Politicians cared for the people they'd start a new program:


Workers / Earners would have the option of continuing as-is with social security OR forfiet what they've paid in, and from 1 Jan contribute that same money to a privately-managed retirement fund.

I'd opt, easily for the latter. Without question. Would be best for me and my family.

[aboutime]

IF Politicians cared for the people they'd start a new program:


Workers / Earners would have the option of continuing as-is with social security OR forfiet what they've paid in, and from 1 Jan contribute that same money to a privately-managed retirement fund.

I'd opt, easily for the latter. Without question. Would be best for me and my family.

dmp. What you suggested above is almost verbatim of the plan Romney, and Ryan have been presenting. Except for the forfiet part.

They want to allow everyone to remain in the S.S. eligibility as it stands today, or give them the choice to have their funds placed in a privately managed fund...only they have access to when they reach retirement age.

Nothing new. But it is what the Dems and Obama have been calling, and threatening Older people with...asking them "What would happen to your funds if the STOCK MARKET crashed?"

But they fail to tell the people. This would be a totally different kind of Pension fund. And the Dems scare older people that way. WITH LIES.

[red states rule]

The payroll tax extension is a loser argument for Romney. They are economically pointless as far as stimulus goes and it would just be another talking point about tax cuts for the rich with tax increases for the poor. Never mind that it's gutting Social Security.

"Guttiung Social Security"?

SS is BROKE and is going bankrupt. It is nothing but a ponzi scheme whose time has run out

and perhps it is time for the "poor" to start paying taxes insetad of putting more of the tax burden on the few that already pay a majority of the income taxes collected

[gabosaurus]

IF Politicians cared for the people...

There is the catch right there. Politicians care about themselves.
The one characteristic that Democrat and Republican office holders share is that they are all about them.

[red states rule]

There is the catch right there. Politicians care about themselves.
The one characteristic that Democrat and Republican office holders share is that they are all about them.

The problem is Gabby libs like you measure "care" by how much money you take from the producers and give to the non-producers

We are broke and it is due mostly to the liberal dogooders who gave us The Great Society and their War on Poverty

The debt is over $16 trillion and since the 1960's the government has spent about $14 trillion on their welfare programs

[fj1200]

"Guttiung Social Security"?

SS is BROKE and is going bankrupt. It is nothing but a ponzi scheme whose time has run out

and perhps it is time for the "poor" to start paying taxes insetad of putting more of the tax burden on the few that already pay a majority of the income taxes collected

Yes, gutting SS. Before the recession we took in far more in SS revenues than was paid out and were projected to do so for quite some time at which point we would start to dip in to the phantom SS Trust Fund. Take out the useless SS tax "cut" and it did even more damage its "solvency."

If you want to debate the ponzi nature of SS I doubt we'll have much argument but the payroll tax cut did not do it any favors.

[aboutime]

The problem is Gabby libs like you measure "care" by how much money you take from the producers and give to the non-producers

We are broke and it is due mostly to the liberal dogooders who gave us The Great Society and their War on Poverty

The debt is over $16 trillion and since the 1960's the government has spent about $14 trillion on their welfare programs

red states rule. We shouldn't forget the AL GORE "LOCK-BOX" theory from pre-2000, when all of Social Security was supposedly hidden, and protected by Democrat Liberals who placed "IOU's" in that Imaginary Box AL KNEW...didn't really exist.

Now called the THIRD RAIL in Politics. Democrats insist S.S. is in good shape...while they never tell anyone how those IOU's were put there. And now. We have Obama and the Dems....stealing 716 BILLION from S.S. to pay for OBAMACARE...and the Dems keep threatening the elderly....LIKE ME. Trying to convince us They are SAVING 716 Billion they stole from S.S. to impress us with their LIES.

[fj1200]

^I think they're stealing it from Medicare.

[aboutime]

^I think they're stealing it from Medicare.


Thanks fj. Does it really matter WHERE they are stealing it from?

I stand corrected. Happily. Come to think of it. The Dems and Obama still DENY they are stealing anything, from anywhere.

But everyone knows. 716 Billion dollars has to come from somewhere. So Obama tried to trick America, taking it from Medicare. Still lying to seniors to scare them.

Thanks for the correction.

[fj1200]

Thanks fj. Does it really matter WHERE they are stealing it from?

I do chuckle when they say the $716BB isn't a cut but rather reductions in reimbursements. :laugh: Silly gits.

[aboutime]

I do chuckle when they say the $716BB isn't a cut but rather reductions in reimbursements. :laugh: Silly gits.


Most people who do not pay attention to politics, as many of us do here. Have No Idea what Obama, or the Democrats are really saying when they insist...Republicans are CUTTING funds to Education, or other heavy spending items.

Whenever they accuse Romney of Cutting to Planned Parenthood, Education. and even PBS for BIG BIRD. What they NEVER honestly, also include in their accusations are....Those Democrat labeled Cuts...are not Cuts, but actually NO increase in spending for those things that the Democrats, and Obama want.

So. The new Democrat definition of Cuts...in Liberal-speak, for the perpetually Uninformed, is only NO INCREASE.

This is how the Democrats manage to fool/lie to the Un-educated who have been taught to ALWAYS BELIEVE what Dems, and Obama say. Because..THEY ARE ALL STUPID...in reality. Anyone who never questions what Obama or the Democrats are doing MUST BE STUPID.