Ignoring Liberal Dems, Obama Endorses Longer Social Security Payroll Tax Cuts Through 2012

[Better Believe It]

Ignoring Liberal Dems, Obama Endorses Longer Payroll-Tax Holiday Through 2012
by Mike Lillis
June 29, 2011

President Obama on Wednesday reiterated his push to extend an existing payroll-tax holiday through 2012 – a move denounced by liberal Democrats who fear the reduction in revenues will undermine Social Security.

The remarks ignore the warnings from many liberal Democrats, who have argued for months that cutting the payroll tax will drain Social Security coffers and threaten seniors' benefits.

On Friday, Democratic Reps. Lloyd Doggett (Texas), Ted Deutch (Fla.) and Mark Critz (Penn.) sent a letter to all House Democrats saying the proposed payroll-tax extension “should trouble all who care about preserving” the funding stream for Social Security.

“Social Security’s popularity comes from the direct contributions of American workers, who pay into the system now and benefit when they retire or become disabled,” the lawmakers wrote. “Unless and until faith in Social Security has been restored to the American people through long-range solvency, short-sighted cuts to the program’s revenue stream must not be part of any debt ceiling or budget deal.”

Read the full article at:

http://thehill.com/homenews/house/169077-ignoring-liberal-dems-obama-endorses-longer-payroll-tax-holiday

[slipslidingaway]

1. knr nt

[jannyk]

2. kick (& rec)

[TheKentuckian]

3. I have seen the Republicans and they are us.

[senseandsensibility]

4. So depressing.

That's why he mentioned this in his press conference today.

[Mojorabbit]

6. Yes, this is just awful. I don't know what to say......nt

[roguevalley]

5. he agreed to WIC cuts. this is nothing to him. He is among the

top 1%. He has forgotten his roots and doesn't care.

[defendandprotect]

7. Obama is outing himself, it seems --

whether intentional or not, we should pay attention to what he is revealing

about himself --

It ain't pretty --

[StarsInHerHair]

8. no it's a nightmare to behold

raise the cap to the first million dollars

[rhett o rick]

9. r & k

[xchrom]

10. Recommend

[Enthusiast]

11. Why is he doing the wrong thing?

Why is the President we elected undermining social security and bolstering right wing deficit hawk talking points? I guess this is one of those "tough choices" he talks about. This does nothing to help the deficit. And this will not spur consumer demand. WTF?

[madfloridian]

12. It WILL undermine Social Security. It will hurt those already on it.

[ThomWV]

13. but wait a minute, didn't he give a wonderful speech yesterday, isn't everything better now

I read post after post yesterday telling me that Obama gave the greatest speech since FDR yesterday, that everything would be better now, that the Republicans had been put in their place and the birds would sing and the sun will shine. Did something change overnight?

[Better Believe It]

14. Yes. Of course. What was I thinking?

[defendandprotect]

16. .. we have a president now who can actually speak -- REJOICE-- !!!

[sufrommich]

15. The payroll tax cut is the only tax cut that actually gives

money back to middle and working class families and that's the tax you think he should raise? How popular do you think that would be with voters? How many seconds do you think it would take the GOP to exploit the hell out of Obama raising taxes on the middle and working class?

[Better Believe It]

17. So you favor funding Social Security out of general tax revenues that working people pay.

That'll kill Social Security sooner!

That's makes it a "welfare" program!