Boehner Threatens To Hold Payroll Tax Holiday Hostage To Approval Of Keystone XL

[FreakinDJ]

4. Payroll Tax Holiday Act: Bad Politics, Bad Policy

As the White House and Congress engage on whether to extend the Social Security payroll tax holiday, the Republican-led house has offered HR3630, which, among other things, ties the Medicare physician fix to extending the reduced funding of Social Security. This is an example of two important challenges facing our nation being addressed with poorly thought-out legislation.

The proposed extension of the payroll tax holiday is intended to prevent a hit to our anemic economic recovery. The White House and members of Congress are selling the end of the holiday as a tax increase on the middle class. In fact, this Social Security payroll tax is actually an investment into one’s retirement account. Promoting continued reduced payment into Social Security is the same as telling folks to borrow from their retirement and spend the money now.

Shame on any citizen who buys into the political rhetoric that the opponents of extending this underfunding of future security just want to increase tax rates for the middle class. Greater shame on those politicians who make that claim. Similarly, replacing the billions of dollars (approximately $110 billion/year) that don’t come to Social Security from workers paychecks by funds the government has to borrow to cover its huge deficit is bad policy. Surely there are better initiatives to support economic growth.

http://www.forbes.com/sites/beltway/2011/12/13/payroll-tax-holiday-act-bad-politics-bad-policy/

Go ahead Boner - we don't want either one of them