If you had any doubt about who the Republicans stand with and who they do not stand with, this quote from a Republican lawmaker says it all,
“It’s always a net positive to let taxpayers keep more of what they earn,” says Rep. Jeb Hensarling (R-TX), “but not all tax relief is created equal for the purposes of helping to get the economy moving again.”
Representative Jeb Hensarling (R-TX) wants the tax cut President Obama championed to expire. This is the payroll tax cut that reduces the taxes employees pay into Medicare and Social Security. It is also a targeted tax cut that ONLY effects those earning $106,800 dollars and less.
President Obama wants to extend this tax cut to spur the economy and increase consumer demand which is what many CEO’s say is stopping them from hiring more employees.
This tax cut is saving a married couple each making $40,000, which is the average approximate wage in America, $1,600 dollars.
Why would the Republicans NOT want to extend this tax cut? Let’s allow Republican leader, Eric Cantor’s spokesman Brad Dayspring explain,
“All tax relief is not created equal. If the goal is job creation, Leader Cantor has long believed that there are better ways to grow the economy and create jobs than temporary payroll tax relief.”
The Republicans think that reducing taxes SPECIFICALLY for working families is a waste. They would obviously only want the wealthiest Americans and corporations to get a tax cut.
The CBO did an analysis and found that cutting payroll taxes on the employer side could spur hiring faster than the tax cut on the employee side. President Obama is championing both tax cuts right now.
This isn’t even part of the debate right now though. The GOP wants to cut income taxes NOT employer payroll taxes. There is ABSOLUTELY no difference in cutting the FICA payroll tax by 25% and cutting income taxes by 25%.
Why would the GOP want to raise YOUR TAXES by 25%? Well, there may be two reasons: The first reason the GOP might want to raise your taxes is the Social Security fund has become the way tax cuts for the wealthy have been paid for, since the days of President Reagan. (Read Greenspan Fraud for more into that issue). They bridged the gap of federal revenue created by tax cuts for the wealthy by dipping their hands into the social security fund.
The second reason could be that they just DO NOT want to help the poor and middle class worker.
Remember the debate over the Bush Tax cuts, and how President Obama wanted to keep the tax cuts for those making $250,000 and less and the Republicans held THAT hostage until ALL Bush tax cuts were extended, even for millionaires? It isn’t about fairness, it’s about helping ONLY the wealthy and this current tax debate proves the point.
The facts are that these tax cuts specifically help poor and middle income people, the GOP is against these tax cuts and the Republicans are going to INCREASE your taxes by 25% from the current rate of 4.25% to 6.25%.
If there is ANY doubt on whom the Republicans stand with, this should clarify it for you.
Image: The Spokesman