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katatonic
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posted February 14, 2012 02:43 PM     Click Here to See the Profile for katatonic     Edit/Delete Message   Reply w/Quote
http://news.yahoo.com/republicans-drop-demand-pay-payroll-tax-cut-010054923.html

the views of the writer are not necessarily my own. the news as fact is interesting though!

seems the republicans will not create a circus over the payroll tax this month? some cynics seem to think it might be election-year expediency.

what i still don't understand is how anyone gets away with arguing that PAYROLL tax (social security contributions) influence the DEFICIT in any way shape or form?

the money is for SSI and not for the general coffers. who are they trying to kid?

i wonder.

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Randall
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posted February 14, 2012 05:06 PM     Click Here to See the Profile for Randall     Edit/Delete Message   Reply w/Quote
Who are YOU trying to kid, Kat? FICA goes into the general fund.

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jwhop
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posted February 14, 2012 06:31 PM     Click Here to See the Profile for jwhop     Edit/Delete Message   Reply w/Quote
Yeah katatonic, who are you trying to kid?

Payroll taxes include Social Security taxes and when there's no SS taxes being collected any payments to SS recipients drive up the budget deficits which as Randall says, and says truly, are paid right out of the general treasury funds.

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katatonic
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posted February 14, 2012 08:59 PM     Click Here to See the Profile for katatonic     Edit/Delete Message   Reply w/Quote

mebbe so guys, but in case you haven't counted the "millenial" generation is the largest we've ever had. MOST of them are paying into the pot now. despite high unemployment.

i would say "no money being paid in" to the pot is a little over the top, considering we are talking two whole percentage points...and again, despite high unemployment, more people paying into the pot than ever before. so i would call the exaggerations just that, worry-mongering.

i remember not long ago the big panic was that the boomers didn't have enough children to make the pot big enough. there's always some paranoia being pushed about SSI isn't there? meanwhile it is plenty healthy for some years to come and honestly, if we have not recovered from the recession in 20 years it won't matter much will it??

and as someone whose father earned a lot of money OVER the SSI contribution level, but spent it all, i think a higher cut off point would be a reasonable offset.

but for once the norquist party has found itself standing in its own petard..

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katatonic
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posted February 14, 2012 09:28 PM     Click Here to See the Profile for katatonic     Edit/Delete Message   Reply w/Quote
as i said, the extension is a shoe in because nobody wants to be seen to be the bad guy in an election year. plain and simple.

or is it to keep in the good books of mr norquist, the rothschild of our country and time? who doesn't care who is president because he reckons he is already running the country?

but if he is, how is everything obama's fault? the answer is, RHETORIC.

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jwhop
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posted February 15, 2012 12:24 AM     Click Here to See the Profile for jwhop     Edit/Delete Message   Reply w/Quote
God, what is it that you don't understand about payroll taxes katatonic.

NO ONE is paying payroll taxes now and if the payroll tax holiday is extended, NO ONE will be paying payroll taxes for another year...including Social Security taxes and taxes to fund Medicare.

This is a surefire way to blow the budget out of shape and further bloat the already bloated O'Bomber deficits.

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katatonic
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posted February 15, 2012 01:16 PM     Click Here to See the Profile for katatonic     Edit/Delete Message   Reply w/Quote
the payroll tax "holiday" involves all of 2% - not the whole amount. i have had payroll taxes deducted, jwhop, have you? the rest is income tax, fed and state..those are not what they are calling payroll tax. THAT is why the rebate is only a few hundred per year per person!

did you think all taxes withheld were being paid out? no wonder it worries you!

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Randall
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posted February 15, 2012 03:58 PM     Click Here to See the Profile for Randall     Edit/Delete Message   Reply w/Quote
Actually, the true definition for payroll taxes is all taxes withheld on wages (income taxes, FICA, and Medicare), although for the purposes of the holiday, it may be applied to only the 6.2 percent of the employee contributions to social insecurity.

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Randall
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posted February 15, 2012 04:22 PM     Click Here to See the Profile for Randall     Edit/Delete Message   Reply w/Quote
And...drumroll, please...you are wrong again, Kat. Yeah, 2 percent out of 100 percent isn't all that much; however, that's leftist math. With "right" (pun intended) math applied, the 2 percent is quite a bit. FICA withholding is 6.2 percent. That amount is not reduced by 2 percent. The rate itself is lowered by 2 percent--making it 4.2 percent. So almost a third of the amount is removed. That is a significant amount that will have to be made up from the general fund.

------------------
"Never mentally imagine for another that which you would not want to experience for yourself, since the mental image you send out inevitably comes back to you." Rebecca Clark

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katatonic
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posted February 15, 2012 05:51 PM     Click Here to See the Profile for katatonic     Edit/Delete Message   Reply w/Quote
oh, duh, randall. did i say it was 2% of the SSI witholding? not to my knowledge...

but please, tell me once again, why the billionaires can't afford to pay 3% more on their INCOME OVER a million but it's okay for the rest of us to cough up for the good of all?

besides which that 2% will be pretty much ALL spent...on things that enrich those richest. so it's an indirect gift to the rich who congress and NORQUIST still say can't stand the pressure.

some of them. the voices are growing more and louder from the rich people who understand that squeezing the middle class and poor will eventually mean ... NO CUSTOMERS! (ie, no MONEY)

the rich can no more afford for us all to lose our safety nets and benefits than we can, cause when we go under, so do they.

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Randall
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posted February 16, 2012 12:18 AM     Click Here to See the Profile for Randall     Edit/Delete Message   Reply w/Quote
You implied it by stating how insignificant of an amount it is. A third isn't insignificant. Maybe it is in Leftist Math Fantasyland.

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jwhop
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posted February 16, 2012 11:10 AM     Click Here to See the Profile for jwhop     Edit/Delete Message   Reply w/Quote
Isn't it strange Randall that leftists always miss the main point.

In America...though not in the Socialist mecca of Europe...it none of our Socialist's business what the rich can afford...or how the rich spend their own money.

It's amazing that able bodied leftists...too lazy or corrupt to work and pay their own way in life, buy into the Marxist class warfare rhetoric which says...the government should steal the fruits of the labor of productive citizens in our society and spend it on giving goodies to others..meaning them..from the public treasury. Straight Marxist bullshiiit!

But, when these Socialists get called on their Marxist drivel, they deny they're Socialists.

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katatonic
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posted February 16, 2012 01:30 PM     Click Here to See the Profile for katatonic     Edit/Delete Message   Reply w/Quote
i love the way you guys package your insults!

whatever you think the "main point" is, jwhop, i started this thread and i have to say i think YOU are doing your best to derail it and turn it into a diatribe on socialism, with the help of your pancho sanchez here.

the point of the thread is that the republicans have made an abrupt about face for expediency's sake with an election a few months ahead on their horizon. not exactly cutting edge observation, since it has been apparent for years that they have only one thing in mind, getting their mitts in stranglehold position on washington.

meanwhile their behind the scenes defacto presidential wannabe - you know mr norquist, whose sole goal is to be the power behind the throne WHOEVER is president - causes no consternation among conservatives who believe they are upholding the constitution while giving over the power of governance to a self-selected puppet master who revels in pulling their strings because he can afford to. meanwhile complaining that obama is taking too much power into his own hands. priceless!

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