The reply was it was going to come in the form of a $500 credit out of FICA. They plan to make it up on the top end by removing the caps.
Thing no one is discussing is this will lead to job losses as employers pay 50% of the FICA. This is a huge chunk they pay out each year. IF the cap is removed and they have to pay even more they will make it up by job cuts or going offshore. Then there is the 1099 employees who pay the entire FICA hit... they would see a large chunk go to FICA... all so Obama can use the fund as his personal candy jar to please the poor with tax credits...
This man is no economic genius and more people advising him, like Warren Buffet, think like Joe Biden, it is patriotic to pay higher taxes -- as long as they have all "their" tax loopholes in place....