published Friday, December 23rd, 2011

House passes payroll tax cut for Obama's signature

WASHINGTON — The House has passed a two-month renewal of payroll tax cuts for 160 million workers and unemployment benefits for millions of jobless, giving President Barack Obama a resounding victory over Republicans who control the House. The Senate approved the bill earlier Friday. The measure was passed by voice vote in a virtually empty House chamber despite lingering grumbling from tea party Republicans. It buys time for negotiations early next year on how to cover the costs of a yearlong extension of the two percentage point payroll tax cut, the centerpiece of Obama's fall jobs agenda.

It would boost the paycheck of the average worker making a $50,000 salary by about $20 a week and would prevent almost 2 million unemployed people from losing jobless benefits averaging $300 a week.

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joneses said...

What they do not tell you is there is a new tax on new mortgages to supposedly pay for this. I wish they would start cutting spending to pay for these entitlement programs versus implementing new taxes. I wonder what else they are not telling us?

December 23, 2011 at 1:03 p.m.
onetinsoldier said...

In a nutshell, This is what happened to America. Red and Blue alike have conspired to put us here.

http://money.cnn.com/video/news/2011/12/22/n_opinion_jeff_sachs.cnnmoney/?source=cnn_bin

December 23, 2011 at 1:54 p.m.
joneses said...

onetinsoldier,

When I saw your CNN link I said it has to be a link attacking something Republican. But then you mentioned red and blue alike so I gave the CNN link the benefit of the doubt and opened it. Low and behold there it was the title of the article blaming Reagan for this mess. The problem is these politicians create these bills without a way to pay for them. Bush did it and Obama is Bush on steroids. Bush spent 5 trillion in 8 years and Obama is on track to spend 7 trillion in 4 years. This continued spending without having the money to pay for it has to stop. Taxing the wealthy or anyone else will not help if they continue to spend more than they bring in. Eventually there is no more to tax. That is it plain and simple. This is insanity at it's best.

December 23, 2011 at 2:46 p.m.
onetinsoldier said...

The piece blames reagan, bush1, clinton, bush2 and obama. But the real blame is the business community and the rich who have purchsed the rules that favor them to the demise of everyone else. If the rich have all the money, just who in --- do you think has to pay the debts??? People like you have swallowed the repugnant line and can't get the hook out of your mouth. Government is GOOD, without it you would still be lighting your tennesse valley home with kerosene. It is the Government of the United States that is the beacon on the hill and your like wants to drown that becon in a bath tub. Big business has infiltrated the democrats as well, but it is the repugnants standing in the way of real change that benefits us all and not just the rich.

December 23, 2011 at 4:46 p.m.
onetinsoldier said...

P.S. Joneses

You failed to mention the math. Numbers don't lie. The clip is ACCURATE.

December 23, 2011 at 4:49 p.m.
Littleoleme2 said...

This "tax cut" is money being paid into the social security trust fund. Whether it is a good thing or not is up for debate but in the end the money will have to come from somewhere.

December 23, 2011 at 10:51 p.m.
Salsa said...

Look on the bright side...now that this has passed I'm sure the President can get in another golf vacation.

December 24, 2011 at 12:24 a.m.
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