GOP Demands Tax Hike for Wage Earners

22 Aug

The Republican Party has shown its true colors. Even as it advocates strenuously against a modest rate hike on the richest Americans, it seeks to roll back a payroll tax cut that puts an extra $1,000 per year in the pocket of workers earning $50,000 (as an example).

I don’t know how it’s going to play out for them to self-identify with the wealthy and the ignorant, but it should make for a real barn-burner of a lowest common denominator, 18 month-long Presidential campaign.

14 Responses to “GOP Demands Tax Hike for Wage Earners”

  1. Leo Wilson August 22, 2011 at 7:48 am #

    Just curious… these are workers? What’s cutting payroll taxes or not do to or for the jobless?

  2. Black Rock Lifer August 22, 2011 at 9:07 am #

    As I said before, lets demand full disclosure and require Republicans to register as lobbyists for the wealthy. @Leo, same goes for some Democrats.

  3. MJC August 22, 2011 at 9:58 am #

    @ Black Rock Lifer – same goes for MANY Democrats, including the man in the White House.

  4. Rob August 22, 2011 at 10:26 am #

    The payroll tax cut was enacted as an economic stimulus. The fact that Republicans oppose it (while refusing to raise taxes on the wealthy) demonstrates that they do not want the economy to improve because they believe, with good reason, that a poor economy in 2012 will help them win the White House.

  5. Ward August 22, 2011 at 10:41 am #

    Find a better link, Alan. “The page you’ve requested either does not exist or is currently unavailable.”

    I can only assume the “payroll tax” to which you refer is the FICA withholding, which goes to fund the soon-to-be-insolvent (2017, per the CBO) Social Security system. For how many years do you advocate short-funding the Social Security System?

  6. Mike In WNY August 22, 2011 at 10:58 am #

    The whole system is screwed up. We cut taxes that are supposed to fund entitlement programs that we can’t afford and some people want more taxes from the people more who already pay the most taxes.

    Tax everyone a flat 20% across the board. No exemptions, no deductions, no tax credits . . .nada. Just 20% from everyone. Not only is that fair, but maybe the people who would feel like they just got kicked in the stomach would finally see the light and advocate for a more limited government.

  7. Leo Wilson August 22, 2011 at 11:42 am #

    @6 – I disagree. What I’d do is scrap income taxes altogether and replace that structure with a 1% financial transfer fee with no exemptions – no matter why or how you move money, take 1% of it. So, if you paid your kid an allowance, the gov’t should expect 1%. If the feds paid a block grant to the state, they’d pay 1%. If your church moved funds from its general fund to its building fund, they’d pay 1%. Likewise for business accounts of any sort, within an organization or to outside entities.

    If there was any argument for exempting anything at all, it would be new money coming into our country from abroad.

  8. Bbill August 22, 2011 at 12:03 pm #

    Ward, if you delete this from the linked url, you’ll get the article.

    It’s fun watching the teabaggers spin this one! Not that most of them have been noisily opposing their own interests all along, just that now their idiocy is in bas relief.

  9. John Roach August 23, 2011 at 7:31 am #

    #7, sounds like a version of the flat tax. Not sure how you would track it all, but your idea is a start. Question, wasn’t the “payroll” tax cut from the social security tax taken out of checks?

  10. wolfpack August 23, 2011 at 9:16 am #

    Strange. Payroll tax looks like trickle down economics (remember Reagan) and we the working poorer spend a higher portion of our salaries/wages than whoever the millionaires are do. If the millionaires tax happens at the federal level, someone would have to leave the USA to avoid it easily. When states do it, folks find ways to move across state lines.

  11. Leo Wilson August 23, 2011 at 12:45 pm #

    #9 – Whenever people speak of a flat tax, John, they’re generally talking about the same tax rates for an income tax. I’d scrap income taxes altogether in favor of this idea. It should be no more burden to track than sales taxes.

    And, I think nothing came out of checks already being paid out, but the amount you’re eligible to collect depends on what you paid in over your lifetime. This may have some impact on what you can expect when you become eligible (may because I just don’t know).

  12. Leo Wilson August 23, 2011 at 4:20 pm #

    @wolfpack – leaving is exactly what billionaires did from England in the late 60’s. They also took their fotunes with them, and when England learned the error of their way, the billionaires and their fortunes never went back.

    Don’t discount what you suggest. It’s got precedent.

  13. UBEcon August 24, 2011 at 11:49 am #

    @Leo Wilson: I’d like to know what your source is for your claim that there was a mass exodus of billionaires from England in the 1960s. I will assume you are referring to the United Kingdom as a whole. As I’m sure you are aware, England is a part of the UK but is not itself a sovereign country.

    I find this claim to be rather dubious because a) in the 1960s the number of billionaires worldwide was quite small and b) the UK (like virtually all other countries at the time) had capital controls in place meaning that it was quite difficult if not outright impossible to move large amounts of financial assets between countries. Capital controls in the UK ended only in 1979 when the Conservatives were elected to government and Margaret Thatcher became Prime Minister.

  14. Bbill August 26, 2011 at 8:44 am #

    From those commies at Forbes Magazine:

    Answer: “yes”.

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