payroll tax

Once again, Republicans are holding government hostage, trying to force through unpopular cuts to the things We, the People -- "the 99%" -- do for each other and our economy, while giving handouts to the 1% who pay for their campaign ads and smears. more »

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MTV needs to stop giving that creepy vampire guy and moony human girl in the “Twilight” series the “best kiss” prize in its annual movie awards because it’s Republicans who truly earned the trophy for the big wet smooches they lay on the 1 percent.

Just think of the GOP lovin’ that went into the Bush more »

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Yesterday Thom Hartmann and I discussed the proposal to extend and expand what Democrats have called the 'payroll tax holiday.' (Video is below.) There are no heroes in this debate, but there are certainly villains. There are several different ways this could end - and most of them aren't good.

By proposing to expand and extend this 'holiday,' Democrats have bypassed more efficient ways to help the economy, and have once again endangered Social Security. And by demanding tax breaks for millionaires while blocking them for the middle class, Republicans have once again demonstrated their willingness to blow up the economy for self-serving purposes.

The choice is either to back the highly flawed Democratic proposal or let the Republicans block it, which would plunge the economy into an even deeper hole than it's in right now. Imperfect as the proposal is, the alternative is unacceptable. If it failed the already-wounded economy would suffer even more, and millions of jobless Americans would be left without the unemployment insurance they need. more »

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Giving companies money does not mean they'll hire. more »

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Another bad jobless claims report... and this time Washington seems to have finally noticed that there are some unemployed people out here in the sticks. But instead of jobs programs the geniuses are proposing ... what else? ... even more tax cuts. more »

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Some on the left agree that the payroll tax cut is likely to be extended, but see nothing wrong with decoupling Social Security from payroll taxes, and making it at least partly dependent on revenue from the general fund.

This argument has merit, but are the potential benefits of making Social Security a standard budget item worth risking the whole program? Social Security is an independent program that has survived largely unchanged for 75 years, but making it depend on general fund revenue puts it at the whims of Washington politicians.

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We already know the proposed $120 billion payroll tax cut in President Obama's deal with the Republicans poses tremendous risks to Social Security. Now, an analysis done by Nancy Altman, Co-Director of Social Security Works, reveals that it is altogether bad policy. The payroll tax cut would provide far more to Wall Street bankers and members of Congress than poor and middle class workers, who need the help more and are more likely to stimulate the economy with the money they receive.

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