• Republicans Miraculously Find Tax Increase They Can Get Behind

    It's a four-months-before-Christmas miracle! Ring the bells and cue the orchestra! Republican lawmakers have finally found a way to raise taxes that does not offend their delicate anti-revenue sensibilities

    "It's always a net positive to let taxpayers keep more of what they earn," says Rep. Jeb Hensarling [R-Texas], "but not all tax relief is created equal for the purposes of helping to get the economy moving again."…

    All tax relief isn't equal? No, I guess it's not. Since tax relief is for people, and all people aren't equal. Like, for example, poor people are definitely definitely less equal…

    The tax break extension they oppose is sought by President Barack Obama. Unlike proposed changes in the income tax, this policy helps the 46 percent of all Americans who owe no federal income taxes but who pay a "payroll tax" on practically every dime they earn

    Social Security payroll taxes apply only to the first $106,800 of a worker's wages. Therefore, $2,136 is the biggest benefit anyone can gain from the one-year reduction. The great majority of Americans make less than $106,800 a year. Millions of workers pay more in payroll taxes than in federal income taxes.

    People who make less than $106,800 a year? Do we even consider those people real citizens anyway? When's the last time you saw some street pauper in tattered rags and sole-worn shoes using his paltry $106,799 annual income to contribute to the economy is any meaningful way? I'm sorry, but I don't count buying a bottle of cheap fortified wine as a "contribution."

    The 12-month tax reduction will cost the government about $120 billion this year, and a similar amount next year if it's renewed.

    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.

    Hey, look. It's a tough decision. But sometimes you've got to make tough decisions. Sometimes people just have to make sacrifices for the greater good.

    Photo by Chip Somodevilla/Getty Images News/Getty Images


    Tags: Barack Obama, House of Representatives, Jeb Hensarling, Michigan, Republicans, Taxes, Texas

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