Friday, December 23, 2011
Obama wants to push the so called compromise of extending the payroll tax cuts by another 2 years. If this is considered a compromise it a joke. Because first both sides for the most part agree with the idea, but yet there was still a lot of fighting over the bill? This bill extends tax cuts and there fighting over it! I wonder how long it would take to talk about balancing the budget? Now if they don't want to increase the payroll tax rates and do other things to balance the budget it will effect the middle class even more. See income tax cuts do help people, but if their wages go down even though the tax rate went down they make less money. WHY? Because if you don't help increase the median wage and allow the outsourcing of jobs, elimination of unions people will make less money even though the tax rates went down. With the Bush tax cuts the poor and middle class made less money then were the tax rates were higher. That why the Bush tax cuts must expire even for the middle class, because it doesn't work and the money can be better put to help people's wages go up or help reduce people's expenses like Health care. Same goes with the payroll tax it's a short term fix, and if middle class keeps dying the tax cut does nothing. That why the Payroll tax should increase to 6.2% and eliminate the Bush tax cuts for everyone. This will not only help balance the budget, but the country can help the middle class by reducing many families biggest cost like tuition, health care, and bring new good paying jobs.