The payroll tax cut benefits the majority of people, especially the middle class. The tax cuts that were the big issue in the supercommittee were the ones primarily for those who make millions. If a person opposes one in the name of not raising taxes, doesn't a person have to oppose the other for the same reason?
It's legitimate to oppose raising one and not the other for economic reasons (and this argument has been used for not raising on both ends of the wealth spectrum). You might think one or the other cut benefits the economy more. But if your argument is not raising taxes, then there's something else driving your position, something you're not owning up to.
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5 comments:
A man has to know his limitations
the payroll tax isn't that big of a cut and i speak as someone who would benefit from it. certainly not big enough to stimulate. our country is in a mess thanks to the idiots on both sides of the aisle and we need spending cuts not more spending and tax cuts.
Well, I'd imagine there's plenty both sides are not owning up to, but remember debate hasn't been simply one of for or against, but how to pay for it. Both sides agree a payroll tax cut would have to be off set, the disagreement is over how. I think it is true the Republican plan would have been relatively less generous to average earners and pain free for the wealthy, but it is not true the Republicans were monolithically and categorically opposed to extending the payroll tax cut.
For what it's worth, this is a case where I like the Democrats plan better.
The issue of the payroll tax is the aggregate macro economic effect. We need to gradually reduce expenditures and raise taxes(not just on the rich) over the next ten years which the Canadian Parliament mandated. The Simpson Bowles Commission for deficit reduction suggested a ratio of three dollars of spending cuts for each dollar of tax increases. We, as a people, have believed that we could have government services without paying for them(e.g. pensions for government workers that have not been fully funded).
I hate it that the government doesn't listen to bipartisan commissions like Simpson Bowles. We get a group of experts together who are relatively removed from the partisan fray and then no one listens to them.
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