General Discussion
In reply to the discussion: SAY WHAT YOU WANT about President Obama...in 8 years, Bush NEVER did this. [View all]Martin Eden
(15,629 posts)It depends on who gets the tax cut and what effect it has on the economy and on deficts.
For example, the Earned Income Tax Credit allows lower-income workers to keep more of their pay, often resulting in zero income tax paid. It is first and foremost a tax cut for lower income Americans. Are you opposed to this long-standing tax cut?
I oppose tax cuts that do little or nothing to stimulate the economy and serve primarily to make the rich richer while adding to our national debt. Do you think the extension of the payroll tax cut falls into that category? I have never changed my position on this issue, regardless of who is president. Our economy is struggling, and unemployment is high. The president's American Jobs Act was shot down by the Republican-controlled House. Putting more money in the hands of people who will spend that money is one way to stimulate the economy, and this payroll tax cut appears to be the only measure at this time that can be pushed past the Republican obstructionists.