General Discussion
In reply to the discussion: The Payroll Tax Holiday is and has always been a poison pill for Social Security [View all]BainsBane
(57,750 posts)to put more money in the hands of lower and middle income Americans, who in turn spend that money, stimulating economic growth and job creation.
So your assertion is that the President implemented the payroll tax holiday because he wants to destroy Social Security? You could say the above are effects of that holiday that you don't like, but to argue that is the purpose of the payroll tax holiday is factually inaccurate and undermines your argument.
The payroll tax holiday goes to those who don't earn enough to pay federal income tax. That is precisely why it is stimulative and why writing something into the tax code doesn't help those working Americans.
Why are you so wedded to the most regressive tax in our nation's history? The payroll tax penalizes the poor and rewards incomes above $110, which are exempt from the tax. Why not propose a progressive payroll tax rather than a regressive one?
And I really don't care to hear the empty-headed response that what I've written above is remotely Republican or right wing. The GOP has always hated the payroll tax holiday and opposed it at every turn. They want tax cuts to go to the wealthy. The payroll tax holiday is in keeping with demand-side economic theory as opposed to supply-side, trickle down that the Republicans advocate. They are two different models of economic growth.