Let's get this straight. It's not a general "payroll tax" cut. It's a Social Security tax cut!

[Better Believe It]

Right when we need an increase in the Social Security tax by taking the CAP off it it! Make the well to do and rich pay more into the Social Security trust fund that will make it solvent for a century.

If Social Security taxes are cut now, does anyone really think a Republican controlled House will support an increase in Social Security taxes in 2012 much less taking the CAP off?

Republican leaders have already said they will oppose restoring the Social Security tax rate as a budget buster when "tough choices" will be made to ct government deficits next year.

[Angry Dragon]

1. I have told both of my Senators that the SS cut

is more dangerous than the tax cuts

[Nite Owl]

2. The White House needs a course

in negotiating 101. Or---this is what they intended in the first place and it's all a big show when he starts campaigning on not giving tax breaks to the wealthy, restoring the estate tax and having the SS payroll tax back. What excuse will their be if he is 'forced' to cave the next time?

[Horse with no Name]

11. You might also throw in a History course

because their lack of knowledge in History is astounding.

[Nite Owl]

16. It sure is!

or they are counting on people not knowing theirs and their version of FDR and LBJ are so much more convenient.

[NaturalHigh]

3. A big K & R.

If I may, I would like to add one more suggestion. Raising the retirement age makes no sense. It just forces younger workers to compete with older workers who want to retire but need to keep their jobs. It would be much more beneficial to the economy to strengthen the funding for social security and lower the retirement age.

[xchrom]

4. Recommend

[nashville_brook]

5. I wonder if this wasn't dreamed up in the cat food commission

[subterranean]

10. It was. Simpson and Bowles proposed it.

http://www.washingtonpost.com/wp-dyn/content/article/2010/12/03/AR2010120306669.html

Obama said he liked some of the commission's ideas. Maybe this was one of them.

[nashville_brook]

14. holy shit. thanks for the link.

[Still a Democrat]

6. The money is coming from the general fund

The SS fund will be reimbursed

[Better Believe It]

7. "The money is coming from the general fund" That's the problem.

"The SS fund will be reimbursed"

That's not the issue.

[xxqqqzme]

8. Senator Bernie Sanders

"...One of the most underreported parts of this deal is a cut to the Social Security payroll tax. In just one year, over $120 billion of revenue will be cut from Social Security under the President's compromise plan, weakening the program and virtually guaranteeing benefit cuts in the future.

Make no mistake about it. Social Security has not added one dime to the national debt and this cut will only embolden Republican attempts to privatize the program and increase the age of retirement. Social Security is a vital safety net for all Americans and a cornerstone of our commitment to protect the middle class...."

Nice try. By law, Social Security gets no money from the general fund. If the cap was raised to $140,000, there would be no need for a 2% 'reduction'. Flim flam.

[muriel_volestrangler]

12. I think BBI has a point about what may happen in 2012, though

It seems very possible Republicans will then say "we don't want to put the FICA rates back up; but we can't afford to carry on lending money from the general fund to cover what the old rates would have brought in, so we'll cut future Social Security benefits instead". And then, effectively, they'll have privatised that 2% slice of FICA - if people want to get they retirement income back up to what they had been expecting, they'll have to invest 2% of their income privately (which will hurt lower incomes more, since Social Security is mildly redistributive, which is why Republicans hate it so much).

Or this would force Obama/the Democratic senators to block that Republican proposal, and they'll go into the election saying "Democrats want to raise taxes on the working person". And, since the Republicans are so much better at misleading propaganda, that may hurt.

[Faryn Balyncd]

9. K&R....This is the POISON PILL the GOP has been peddling for years.

:hi:




:kick:

[Bozita]

13. They never found a buyer ... until now!

[Better Believe It]

15. Exactly!

[Enthusiast]

17. All part of the right wing plan.

Their plan: The wealthy just don't have enough. We need to privatize social security so the engine of enterprise will be ramped up.

That's their plan and Obama is implementing it. http://www.youtube.com/watch?v=acLW1vFO-2Q