Ouch! Review & Outlook: The GOP's Payroll Tax Fiasco - WSJ.com When engaged in a fight, it is best not to punch yourself in the face! :smile: :evil: Abner
From a purely pragmatic standpoint, the "tax cut" (which it really isn't) would do diddly squat for the economy but in the political game of appearance the House GOP's just stepped on their own wedding tackle. I understand their stance though, they are looking for true cuts and real reform standing by their principles rather than kicking the can down the road. I don't think this issue will get Obama re-elected but it does provide some ammo.
Yeah, they're so principled... or maybe they've just gotten mileage lately by towing a hard line and thought that this too would be a winner with their constituencies.
Dost I detect an air of sarcasm? Let's be fair, this hard lined approach is in answer to the freshmen Representatives setting the tone in the House after the impact of the Tea Parties most recently (and ironically). I think the GOP is in the "right" on this (excuse the pun) but they are not getting cooperation from the Senate (no surprise) and at this point Obama wins because let's face it, what has he to lose? If they pass it with no real changes they are the "do nothing congress" if they do not pass it they raise taxes by default. They just can't win here. The funny thing about all of it is, they are arguing over whether to rob Peter to pay Paul or Paul to pay Peter. If they take money out of SS taxes it will be made up in income tax revenue, if they don't it won't. But NOT spending money that you COULD spend is NOT a tax cut and moving money from one account to another account (both of which you own) is not increasing your wealth.
It would be different if the Senate hadn't already left town. But now taxes will go up in January, and it's because the Republicans in the House weren't satisfied with a deal made by Republicans in the Senate. Sorry, but they could have said "sure" on this and then held the Democrats' feet to the fire in February when it came time for a real extension. Instead, my paycheck shrinks on January 1. Thanks for nothing, John Boener.
I guess now they'll remember that their constituents have unlimited patience for bluster and grandstanding until it hits them directly in the wallet....
