The latest payroll tax cut debacle is proof that Republicans in Congress are showing their true colors when they balked at giving 160 million families a tax cut while refusing to let the Bush- era tax cuts for the wealthy expire.
House Republicans complained that the payroll tax cut would increase the deficit and affect social security.
Meanwhile, the non-partisan Center for Budget and Priorities estimates that the cost of tax cuts for the highest income earners is as big as the social security shortfall over the next 75 years if we reverted back to the Clinton-era marginal tax rates.
According to Citizens for Tax Justice, the U.S. Treasury would net an additional $72 billion annually if that were the case. That figure equates the costs to $11.6 million every hour.
That’s not decreasing the deficit.
When President Obama wanted to let the tax cuts for the rich expire, it was decried as “class warfare” by the Republican leadership. While the income disparity continues to grow wider and the number of people in poverty has increased at an alarming rate, that is not considered “class warfare” by the Republican leadership.
President Obama proposed a yearlong extension of the payroll tax cut in September as part of his jobs bill however it went nowhere in the House of Congress.
It appears that the current Republican ideology is anything that the president supports, they oppose. Their singular focus to beat President Obama in November continues to hurt middle and low income families in Minnesota.
We get soaked again.
America depends on two healthy political parties to make democracy vibrant. The faction of the Tea Party with their ideology has made the Republican caucus as ineffective as we’ve ever seen our government become.
Rep. Michelle Bachmann calls the temporary payroll tax passage as a “gimmick.” Funny, that’s what I call the Bush- era tax cuts to the wealthiest 1 percent of Americans.
We can’t even call them rich any more. We have to call them job creators while recent data shows the majority of growth in jobs is due to small businesses.
Republicans need to work for us and help the economy grow instead of focusing only on making president Obama look bad in an upcoming election year.