Tuesday, November 29, 2011
Hearing people get on Congressional Republicans for being against an Extension of the Payroll Tax Cuts. When they didn't support them in the first place and would like to see all of the Bush Tax Cuts expire. Is a little hard to listen to unless I need a good laugh, listening to people who actually support the Bush Tax Cuts for the Middle Class. As well as the Payroll Tax Cuts like Sen. Chuck Schumer and listening to him and others get on the GOP. For being against an Extension of the Payroll Tax Cuts, is much easier to listen to. Because they have credibility and credibility is very important, especially in politics. Because without it, there's not much reason to listen to you, hey Joe changing your mind again, talking to Flip Flopper. I rather listen to the people who have a consistent record on these issues, instead of Political Hacks looking to screw the other side. Having said that listening to Congressional Republicans claim they don't support Tax Hikes in any circumstances on anyone. Is even harder to listen to because they have real power unlike the Far Left flank of the Democratic Party. And them getting in the way of an Extension of the Payroll Tax Cuts that by in large benefit the Middle Class. Because the wealthy can afford to pay the Payroll Tax without getting hurt by it. But if your a cop making 50K$ a year, that extra 6.2% in Payroll Taxes to go along with the Income Tax of 10%, hits you real hard. So of course the Congressional Republicans or at least some of them support at least one Tax Hike, just not on the wealthy.
Moody's has reported that letting the Payroll Tax Cuts expire, would not only end up being a Middle Class Tax Hike. But a 1-2% Drop in Economic Growth, putting us back into recession and costing us 500K jobs. Because of the drop in Consumer Spending, because of this Tax Hike that would send more money to Uncle Sam. No one's Favorite Uncle except for socialists and maybe thats why the House GOP Leadership is against extending these Tax Cuts. Because that would be another kick in pants to an economy thats still fairly weak but showing signs of strength. Holiday Shopping with Black Friday is off to a good start and hopefully that will lead in to 2012 as well. But a Middle Class Tax Hike would be big block in front of that. Which would be another clue in the the GOPs strategy right now of gridlock, if we make Washington look incapable of governing. We can get a Republican President to go along with a Republican Congress but if we do anything to help the economy. Then that would benefit the President and Congressional Democrats and make the Federal Government look like they can govern. Which I believe is a risky strategy on their part because they have over sixty House Freshmen up for reelection in 2012. Thanks to the Tea Party but we'll see how long this strategy will last.
Its clear that Congressional Republicans are being hypocritical on Tax Hikes, being completely against Tax Hikes on the wealthy. But don't seem to have a problem with Middle Class Tax Hikes right now. Perhaps they believe they don't pay enough in taxes to begin with, even though they are really struggling right now. But even that position would violate Grover Norquist's Tax Payer Pledge. Of no Tax Hikes in any form, which I believe will help democrats in this case. Because his group will probably lobby for an Extension of the Payroll Tax Cuts to avoid this Tax Hike. But the problem is some people that are attacking the GOP over this aren't very credible.