RSSKeeping The Payroll Tax Cut Is A Good, Long Term, Idea
J.J. Jackson | November 28, 2011
Senior citizens who did not plan for their own retirement and who believed the lies of the federal government that it would, without fail, send them a check every month don’t like the concept of the money that is needed from current taxes on workers to pay their current benefits being threatened by the continued reduction of the payroll tax cut. Too bad. That’s the way the cookie crumbles. When you put your faith in government to take care of you, you take your chances.
With the current, reduced payroll tax rate cuts back on the front burner I am all for keeping them at the current, reduced rate. And while that may appear to put me in the same political boat as President Obama, who also desires such a thing, it does not.
The President wants the payroll tax cut to continue because, as I predicted, the sluggish economy makes it impossible for him to raise the rates back to where they were. While the left needs the money that returning the rates back to where they were would provide, in order to keep the ponzi schemes of Social Security and Medicare going a few years longer, they cannot allow these rates to go back up. Their plan was that the economy would be booming by the end of 2011, foolishly believing that their socialist policies would finally start to work, and that many employees would be getting raises of 3% or more. Thus, when they let the cut lapse, in 2012 employees would still see a bigger paycheck and not think their taxes had been raised.
But with the economy slogging along and raises apparently going to be hard to come by at year’s end, if the liberals were to raise the tax, which make no mistake they really want to do, next year then when paychecks got smaller because of returning to the previous tax rates they would face a voter backlash that they could not combat. With every American worker paying these taxes those is millions of angry people they don’t want pounding on their doors.
Whereas I am simply for keeping the reduced rate for much less convoluted reasons. It is good economics. I am for keeping the rates as they are because keeping more money in the pockets and bank accounts of the American people is infinitely a better path forward than throwing those same dollars into the black hole that is the federal treasury. And starving socialism of the capitalist dollars it needs kills said socialism. That is good for everyone. Yes, even those who live off of socialism.
Sure, in the short term it hurts. But in the long term America can only thrive without the shackles the left has clamped around our legs.
Once again, and as rare as it is, liberals are actually right on an issue. But as usual they are right for the wrong reason.
Copyright © 2006-2011
J.J. Jackson is a libertarian conservative author from Pittsburgh, PA who has been writing and promoting individual liberty since 1993 and is President of Land of the Free Studios, Inc. He is the Pittsburgh Conservative Examiner for Examiner.com. He is also the owner of The Right Things - Conservative T-shirts & Gifts. His weekly commentary along with exclusives not available anywhere else can be found at LibertyReborn.com (Digital Fingerprint: libertyreborn123456789)
Contributor's website: http://www.libertyreborn.com
Content posted by users from other sites is posted for commentary and news purposes under fair use and each author is responsible for their own postings and a particular posting should not be construed as being endorsed by this site or its owner.
Leave a Reply
Loading ...Recommended Reading:
