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Payroll Tax Extension May Be Dead

December 21, 2011 by  

Payroll Tax Extension May Be Dead

The pressure mounted on Wednesday to approve the Senate-passed payroll tax measure to temporarily extend a payroll tax holiday, with several GOP Senators and President Barack Obama pushing the issue.

The Wall Street Journal editorial board issued a critique this morning of Republicans’ handling of the tax fight, saying they “have thoroughly botched the politics” of the issue and have “achieved the small miracle of letting Mr. Obama position himself as an election-year tax cutter.”

Senator John McCain (R-Ariz.) agreed with the editorial, which called for House Republicans to “cut their losses” and move the bill, according to The Washington Post.

House Speaker John Boehner dismissed the Wall Street Journal editorial, and said that the Republican Party is “the party of lower taxes for the American people” but that further negotiation over the measure was necessary.

“We have fought for lower taxes for the 21 years that I’ve been in this Congress; we’re going to continue to be the party of lower taxes,” he said. “And the fact is that we can resolve these differences between the two parties and give the two parties a real Christmas present.”

The House rejected the measure in a vote of 229-193 on Tuesday. Senate Majority Leader Harry Reid has said he is not open to further negotiations over the measure. House Democrats continue to push for Boehner to give in and rekindle chances for a passage of the measure, but most members of the chamber have left for the holidays and will meet “as necessary.”

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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  • http://gillysrooms.blogspot.com GILLYSROOMS from AUSTRALIA

    John Boehner seems to be a bit of a mover and shaker but why is he not a Presidential Candidate? I dont fully understand your political system…so can anyone please explain.

    Sometimes temporary tax cuts can serve as a very beneficial stimilus to an economy and maybe that is why the Bill is in its current form…but i’m SURE that John Boehner with his experience would know that, but not letting on to his voters and supporters.

    Tax policy, Welfare and Social Security, Public and private investment in infrustructure benefits your econmy in different ways as it circulates your economy. I believe you should not blame Obama for 100 years of developing financial madness by both Republicans and Democrats in every state in your country and ours. All your voting groups want FREE public works and they generally get some, just like BOSTON got $14 Billion for the BIG DIG in Tea Party Habour Territory. Who paid for those tunnels under Boston? Who got the contracts for machinery, concrete, engineering, who where the workers who got paid for the twenty years it took to complete? Which businesses benefitted when those workers went home to spend their wages? What happended to the corporate dividends paid to the shareholders of the corporate organisations who must have supplied goods or services to the grand program of getting rid of those overhead roads going through Boston.? Did anyone pay taxes on their earnings? I bet they did. WAS IT WORTH SPENDING THAT STOLEN TAX MONEY ON BOSTON? I THINK SO. BUT STILL NO ONE WANTS TO PAY…EVERYONE WANT TO KEEP THEIR MONEY WITHOUT PAYING TAX. The BOSTON BIG DIG was funded by tax or credit funds which benefitted ALL the workers and companies who worked on the project for almost twenty years. Did anyone complain where the money came from then? Would BOSTON taxpayers have been happier if the BIG DIG had not been done at all? I doubt it.

    I believe many of you including John Boehner are suffering with the greek disease…you want to make money in a free enterprise manner but not contribute to the circulation of money which benefits everyone. So what politicians are still doing to gain your voters favour……. they are agreeing to borrow and the Federal Reserve and the Banksters will help.

    So now the chickens are comming to roost..ie someone has to eventually pay back the loans or the interest but not the tax payers…… so just like in greece..your having financial woes and disagreements and blaming OBAMA because he is in the the hot seat when the musical chairs run out. Some of you people are disgrace by not being honest not only with the readers of these blogs, but yourselves by trying to blame OBAMA.

    So what is my explanation of why the federal reserve helped the banksters in 2008 and not the people directly?. Simple…if they went under…every bank holding the savings of all the people and large and small businesses would have folded…and ALL THE LITTLE PEOPLE would have lost ALL, YES ALL their savings, businesses, superannuation EVERYTHING LOST. All the little peoples shareholdings …also LOST. DID THEY MAKE MISTAKES YES…there should have been many more conditions and control on executives taking bonuses etc …but i put that to panic and fear if something was not not done FAST. Lets hope your deal makers in Fed Reserve are working on a better deal next time by taking shareholdings and bonds in exchange for help and BAN bonuses for criminal executives…etc when next time comes. [My qualifications are I have family relatives living in Boston for over 100 years and my grandfather was an Amercan Citizen]

    The stock standard solution for Governments to try to pay back the loans is to create inflation and both Democrates and Republicans are guilty of that, except that the Republicans want to create DEFLATION to stop the merry go round while OBAMA on the other hand is more interested in keeping the economy chugging along without collapsing which the Republicans it seems are trying to speed up your economic collapse so some of your wealthy can make more money out of buying everything cheaper. THATS MY TAKE ON CURRENT POLITICS IN YOUR COUNTRY, WHEREAS i FEEL THE WORLD NEEDS TO SEE A REAL COUNTRY COLLAPSE AND GREECE IS THE PERFECT EXAMPLE FOR YOUR POLITICIANS TO WAKE UP AND LEARN FRON. SEE WHAT REALLY HAPPENS….

    The Greeks are in a financial mess because they borrowed to maintain their lifestyle and now they have just recently got rid of their fall guy President, thinking the next guy wont let them accept the punishment. THEY CANT ACCEPT THE FACT THAT THEY WILL HAVE TO PAY AS A NATION, ONE WAY OR THE OTHER. So now they having more strikes, still dont want to pay taxes to balance their unbalancable books. They’ll kick out any President who increases taxes and sacks overpaid lazy public servants. The Greeks would rather go bankrupt without the pain, thinking they can get away with it and the Germans are trying to help them out. BAD MOVE. Let them go broke and let them starve, dont help them…….THEY AND THE ONLOOKING WORLD got to learn to live within their means, otherwise no one will pay their loans, ever.

    What would happen if American banks were to forgive peoples bad loans? The good borrowers would feel cheated and they too might decide not to pay either. The world needs a lesson and the Greeks need to be sacrificed to show the real pain to pay if governments dont pay their loans by real hard work and austerity. The sooner it happens the better.

    There are two ways to protect America from sliding and OBAMA is attempting to achieve that in the only style both Democrats and Republicans know and that is to borrow or create money to pay out money for Social Security for unemployed people who cannot be employed during this recession and to begin a number of public works like pipelines, roads bridges etc where some skilled workers and their employer corporations can be involved in these civil engineering works. The EPA is one of our biggest stumbling blocks to getting permission to undertake many work and job creating projects in both America and Australia where the RED GAY GREENS movement has sneaked into Senate positions and local government areas in Australia and I bet in the USA & CANADA too.

    The whole issue is very complex in both Australia and the USA and passing the blame on OBAMA alone is totally illogical, when so many RED GREENS are already lurking in your corridors of power under the guise of many of your so named comservative Republicans and others. YOU WOULD BE SURPRISED WHICH VOTERS VOTE FOR greens movement Candidates…USUALLY ITS THE RICH AND WELL OFF. Do some research you will be amazed. I would speculate that even the likes of Trump would not like deflation or a credit squeeze the Republicans are promoting as his own property holdings would collapse in value and discourage buyers to buy his properties as banks would not wish to lend against in a falling market. Trump could only benefit if he had sold everything and had a secure stash of cash reserves in some safe haven to then buy very cheap property at the bottom of several years of DEFLATIONARY POLICIES caused by your Republicans lead by non other than John Boehner. I doubt that any property developer would like these Republican policies…they only like the less tax idea of Republican Party… I say enjoy the ride and pay the tax on the inflatioary profits…without play dangerous games with the whole economy as some of your fork tounged supporters are saying, but thinking and worrying about how to take advantage of these silly politicians playing games. Dangerous games lead to dangerous consequences.

    Again I must say I think your Republican line up of candidates is very poor and Ron Paul stands out above the rest by far although I would prefer John Boehner. Get rid of the rest fast…they are a disgrace and shows how bad a selection you really have and thats why my money is still on OBAMA to win. You have to work on a better system to encourage a much better range of candidates in future years. Consider your quest as a longer term project of several more elections to get to your desired destination to have policies changed even if Ron Paul wins the Presidency…the policy changes you may want to see instantaneously happen…wont be happening as you have too many other Congressmen and Senators who will stifle plans just as the Republicans has done to OBAMA. My opinion to encourage real debate in this forum…

  • JimH

    Don’t tell me how you’re going to let me keep a few more of my own penny’s each payday. Only to tax it back out of me at the end of the year.
    Tell me how you plan to end the reckless, irresponsable, unsustanable spending.
    We aren’t this far in debt because we are under taxed.

  • http://gillysrooms.blogspot.com GILLYSROOMS from AUSTRALIA

    Managing your vast American economy is no easy task and not all taxpayers will be happy with the methodology used to keep it chugging along evenly without being affected by external European and other outside events.

  • jeanelane

    This is all ‘playing’ politics with the taxpayers as pawns. We, as a whole, are so far out of the loop. We have given our rights away for many years. You reap what you sow. We have sown a bunch of garbage and now it is smelling.

    • Tony

      Remember this next year on election day. It’s time for a new start, that means 435 brand new members of congress. They should ALL go. It’s time to put party politics aside and do what is best for the majority of the American people.

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