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Why aren’t the Republicans countering the payroll tax cut with a income tax cut instead? That would apply for everyone and would lower payroll deductions too, along with negate the Democrat intended consequence of a “progressive” tax structure only having a payroll tax cut would impose as being paid for by millionaires. Isn't that a wealth tax?
3 posted on 11/30/2011 6:49:29 PM PST by Son House (The Economic Boom Heard Around The World => TEA Party 2012)
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To: Son House

GOP can just pass an extension and force the WH to veto that which he says will send us into recession if it doesn’t pass. Simpler that way. The campaign ads will write themselves!


10 posted on 12/01/2011 2:45:05 AM PST by monkeyshine
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To: Son House
Why aren’t the Republicans countering the payroll tax cut with a income tax cut instead?

Because about half of the wage earners in the US are only paying Social Security taxes. They aren't paying any income taxes. The only people that would benefit from lowered income taxes would be those already paying them.

By lowering payroll taxes, the burden is being further shifted onto the people that pay income taxes. Those payroll taxes will have to be made up from the general fund (i.e. from income taxes), both now and in the future.

Economically, your proposal makes sense. Politically, it would be a disaster.

13 posted on 12/01/2011 6:56:12 AM PST by justlurking (The only remedy for a bad guy with a gun is a good WOMAN (Sgt. Kimberly Munley) with a gun)
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