POINT: This week, some Republicans like Governor Chris Christie of New Jersey, have stated that the proposed extension of the Payroll Tax Cut will not have any real effect on the economy. Republicans in the U.S. House of Representatives have gone from not supporting the tax cut extension AT ALL to arguing that it MUST be for 1 year NOW or NOTHING!
COUNTERPOINT: Tea Party Republicans have at last found a TAX INCREASE they CAN SUPPORT! They WILL NOT support ANY tax increase on the top 1%, not even a 3% surtax on 388,000 millionaires and billionaires (and that ONLY on their income ABOVE 1 million dollars) BUT they seem more than willing to let 160 million Americans take it on the chin with a tax hike of about $1,000 per year. To Republicans, Tax Cuts ARE good, but evidently ONLY for the RICH!
ADDENDUM: Is Governor Christie correct about the Payroll Tax Cut's effect on the economy? Only in Republican world. To the typical family earning around $50,000 per year, the failure to extend this middle class tax cut will mean that they will have about $40 per pay check LESS than they do now. What would that mean? In John Boehner's district it is 1 less tank of gas. For another person, it would be the cost of her husband's insulin & inhaler. For a person in California, it means 1 less dinner out and economically "it ripples negatively from there!" Indeed, in Jackson Mississippi, the NEGATIVE effect on the local economy is estimated at 10 million dollars per year! $40 REALLY does matter!
Thursday, December 22, 2011
$40 DOES Matter!
Snagged from an e-mail from Cliff Moone, Democratic Party Chair of the NC 10th Congressional District: