[sickoflibs]

RE :”With the economic recovery stalled, the Obama administration is pushing aggressively to keep in place the payroll tax holiday that was enacted as part of the bipartisan tax deal Congress passed in December. Republican leaders have resisted that idea, preferring instead to push for a comprehensive tax overhaul that would simplify the code and permanently lower income and corporate rates. It would be difficult for such a broad package to be completed this year, however, raising the possibility that Americans could face a higher tax bill next year despite the weak economy. “We should extend the payroll tax cut as soon as possible, so that workers have more money in their paychecks next year and businesses have more customers next year,” Obama said at the White House on Monday. “

This FICA cut had got to be the stupidest tax cut of all, esp compared to other possibilities. Republicans if they had guts would admit that SS is funded with issuing new US debt because of this tax cut. But they have been too cowardly to admit SS is running a deficit. And many people who pay FICA pay no Federal income taxes at all.

Democrats and the Social Security Trust Fund Lie Exposed today

[Marine_Uncle]

RE: "Republicans if they had guts would admit that SS is funded with issuing new US debt because of this tax cut."
Of course both sides of the political house are to blame for most all our ills coming to past.

[okie01]

This FICA cut had got to be the stupidest tax cut of all, esp compared to other possibilities.

If Obummer were serious about cutting FICA taxes to "help the economy", he would recommend a cut of the employer's share rather than the employee's share.

Reducing the cost of employment might actually serve to increase hiring.