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1 On the 8th day, god cut taxes. 2 And god looked at the taxes he had cut and saw that they were good. 3 And it came to pass that there were some who complained to god that one specific payroll tax cut was not all that good. 4 "Why do you complain of my payroll tax cut?", god inquired.
5 "Because the Kenyan you sent us favors the payroll tax cut," a representative of the complainers said. 6 "The Kenyan is your enemy, O great creator of all tax cuts. He is a deceiver and a liar who only awaits his opportunity to destroy your great and mighty kingdom of tax cutting."
7 "If we don't complain about the tax cuts that our great enemy now favors, then surely it will come to pass that others will think that our enemy is not really our enemy. 8 Deception and confusion may descend on your tax cutting kingdom. 9 Many may come forward to cast their lot with our great enemy next November if we don't complain."
10 "What does this matter" god responds, "if all my tax cuts are good?" 11 One of the complainers came forward and spoke. 12 "Is it not better to defeat your enemy, the Kenyan, than to rejoice in what is good?"
President Obama will be offering up a few small-ball initiatives the first of September said to be meant as stimulus to a newly-sliding national economy. A renewal of the payroll tax cut. Extending unemployment compensation...again.....and a couple of basicly insignificant trade deals. Though important, these initiatives are timid.
What's needed is a national works program with a plan to directly employ up to 5 million new workers.....but that would require new government spending in the hundreds of billions...and Republicans can not allow that to happen because it might help the economy, and thus the re-election aspirations of Barack Obama.
Extending the payroll tax cut would guarantee that the additional $1000 per year, per family, tax cut working Americans are now getting, would continue. $1000, I realize, is barely enough money for the filthy rich to tip their limousine drivers....but to real people, it's a big help.
And that's why the super patriots in the Republican Party are against it.......
"It's always a net positive to let taxpayers keep more of what they earn," says Rep. Jeb Hensarling, " but not all tax relief is created equal for the purposes of helping to get the economy moving again." The Texas lawmaker is on the House GOP leadership team.
You know, god didn't create all tax cuts equal. I agree. Cutting payroll taxes for real workers will result in every penny of that tax cut entering the economy. While cutting taxes for our wealthiest citizens will only continue resulting in more money being hoarded in financial accounts where it doesn't stimulate much of anything.
That said....Hensarling doesn't really want to stimulate job creation just quite yet anyway. His goal, as Republican Leader, Mitch McConnell, has made perfectly clear, is to make sure the economy is still doing poorly in 2012, poorly enough that Obama will not be elected to a second term.
The disingenuousness of Hensarling quickly gives way to the suffocating hypocrisy of Ways and Means Chair, Republican David Camp
The 12-month tax reduction will cost the government about $120 billion this year, and a similar amount next year if it's renewed.
That worries Rep. David Camp, R-Mich., chairman of the tax-writing Ways and Means Committee, and a member of the House-Senate supercommittee tasked with finding new deficit cuts. Tax reductions, "no matter how well-intended," will push the deficit higher, making the panel's task that much harder, Camp's office said.
Way, way back 8 months ago, Camp and Hensarling were ecstatic about voting to extend Bush income tax rates. Those Bush rate extensions added approximately $2 trillion to the deficit over 2 years. I'm not sure whether Camp regarded those extensions, primarily benefiting the wealthiest, as "well-intended", or not. Regardless...those extensions pushed the deficit and national debt much higher. Surprisingly, Republicans were all for increasing the deficit and debt through extending income tax cuts primarily going to the nation's richest....but now those same Republicans seem to be against increasing the deficit by extending payroll tax cuts that primarily benefit working Americans.
But then, Republicans don't really care about deficits and debt....and never have. What they care about is retaking the White House and Senate. They care about retaking the White House and the Senate because with total federal control they can lower taxes even further and extend even more benefits to the top .1% of our population....just as they did from 2001-2007.
Former Massachusetts Gov. Mitt Romney did not flatly rule out an extra year for the payroll tax cut, but he "would prefer to see the payroll tax cut on the employer side" to spur job growth, his campaign said.
Employers are not hiring because demand for goods and services has been diminished in light of high unemployment. Yet, the GOP presidential frontrunner would rather see employers (read: corporations) get another tax break rather than the remaining employees. Cutting taxes on employers right now won't do anything to increase "job growth" but it would be yet another windfall for the already-flush,.....so Romney is for it.
Proving yet again that tax cuts may not all be created equal....but the phony and dishonest justifications by Republicans to reward the already-rich while working to depress the economy just enough to defeat the Kenyan enemy in 2012....have been.