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Saturday, October 22, 2016

“How can you fight tooth and nail to protect high-end tax breaks for the wealthiest Americans?” Barack Obama asked congressional Republicans on Monday, exasperated and desperate to prevent a tax hike on 160 million Americans from taking effect on January 1.

The president was beginning a fresh push for Congress to act to extend payroll tax cuts enacted at the close of 2010, while Senate Democrats unveiled a new proposal they hope will be more popular than the one that failed to block a filibuster last week.

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Copyright 2011 The National Memo
  • BillP65

    This should NOT be allowed to continue. All you are doing is taking money directly away from the Social Security System. You can sit in that office and say we will replace the money from the general fund, but with the way Congress is at this moment that is not even a pipe dream. We are doing exactly the wrong things where SSA is concerned. We need to expand, EXPAND, the number of people who pay into the system. If you want to lower the monthly rate then remove the cap on ALL INCOME, including wages, bonuses, commission, capital gains, and inheritances over 5 million dollars. I am willing to bet that if you did that, you would be able to lower the tax % to probably around 5 or maybe less.
    That is the way you work it for SSA, do this one time and I do not believe you will EVER have tol address the finances of the SSA retirement program ever again. But just cutting the tax for a year or two and then keep extending the cut for ever is not good for the program nor for the majority of people that will end up relying on SSA checks as their sole source of income in retirement.

  • bbarrett49

    finally obama’s got it right. eliminate all soc sec taxes and return to pre 1935 no tax rule. better yet make the usa pre 1913 and elimnate the federal tax totally for individuals and go to back to a big tarriff system and tax china. they tax all we sell them, why dont we? i think trump has a point there. but good for obama. keep it up. we dont need no stinking taxes

  • BrianJ.Gould

    This tax issue highlights the republican hypocrisy like no other issue. Taxes are the work of Satan according to them when it affects the wealthy people who actually run and control your government and industry. But it’s fine for all the minions that do their other words YOU.

    I suggest we stop pretending that the republicans are anything but sycophants of wall street and tear them to pieces. Literally. If the few can rig every single system there is, be it financial, judicial, information distribution etc. against US we have no choice but to eliminate them in the form the forefathers laid out which is to remove them from power by force. sic semper tyrannis.

  • littlegal

    Republicans where are your heads, I think I can tell you but a Carters little Liver pill would give you a better view. You are going to tax the poor and leave the rich to buy homes that cost hundreds of millions of dollar, exotic animals, illegal famous painting, travel in private jets, and snub their noses at anyone who isn’t in their class. Remember guys next election your A is out, of course your assured of a life time pension and health benefits that are way beyond what we get. Get your glasses on and take everyone off of SSA that doesn’t belong on there. Illegial Aliens, Prisoners, Rich Americans and Tax the Millionaires, and quit dipping into it everytime you need money. That money is there by the people for one purpose only to help the poor so they have a roof over their heads and food to eat while waiting to die. Wake up, American people are finally waking up, thanks to the news media.

  • Indy 60

    Unless, of course, you are poor or middle class – then it’s alright! And, yet, they blame the Democrats for “class warfare.”

  • 1olderbutwiser1

    But today he sure wasn’t and I say this with simple arithmetic. The middle class is gone? Today he claimed there are 160 million of them. What, do we now have 600 million population? How can we possibly have a 1% rich rate that pays 52% of all taxes. Wait a minute, something doesn’t jive here. And the bottom half pays nothing? That means the 160 million pay how much each….