“Taxes should NOT be raised on anyone, rich or poor, until the government gets its fiscal house in order. “
The Republicans are going to be hurt badly over the payroll tax issue.
The Republicans want to effectively raise taxes on working people. However, they fight tooth and nail to keep from raising taxes on the rich.
If consumers have less money, that will hurt the economy just as taking money from the “job creators”. By the way, where are those jobs? Oh, I forgot, India and China.
The message that Republicans ought to be getting out is that no taxes without attendant cost cutting. But the whole environment in Dc is against that. The region around DV is the only “growth areas” in the country, at least for the housing market. A ten-percent reduction in wages for government workers would crash that economy. But all across government, there is a growing obsession with additional controls on the citizenry. Really the only thing that government can do is to make more law as they desperately keep digging deeper.
“The Republicans are going to be hurt badly over the payroll tax issue.”
That’s true. But only because the dumb masses believe that they are owed property from the wealthy. The ‘Zero Sum’ propaganda works well with Stupid voters.
Raising taxes on the ‘rich’ will not increase revenue. But in the eyes of the collectivist failures, it’ll make them feel better.
(See Romer’s analysis on raising taxes 1% results in 3% decrease in GDP. There will be a negative reaction from those who understand how to create value.)
‘Thou shalt not covet’
“The Republicans are going to be hurt badly over the payroll tax issue.
The Republicans want to effectively raise taxes on working people. “
The Republicans’ way of paying for the payroll cut is better. They only get hurt because the media falsely portrays them as against the cut. Everything is their fault.
Better to just send checks to these people.
Only if Republicans remain true to their prior form.
But in truth, this is the illusive golden goose Republicans have never been able to see, even though it has always been right in front of their eyes. This is the:
they have always sought. This is the way to completely end the entitlements.
You're arguing for the class warfare approach. I'm putting in 70 hour weeks. I consider myself a "working person" with that level of effort. I receive compensation that you might label "rich". I would argue that "working people" in your context is the low wage earners and union types. The same folks that are flopped on the couch drinking beer and watching football games while I'm still at the office. Why should I get screwed out of even higher taxes to subsidize the slothful that won't work more than 40 hours a week, but want all the perks that come with my level of effort? If taxation removes the incentive to work harder, I know where to find the beer and TV.