According to Grover Norquist and his pledge, once taxes are cut they can never be raised, right? Raising them to previous levels constitute as raising taxes, even closing loopholes, eliminating deductions and carve outs are considered tax increases. That is the reason the super committee failed to compromise and that is why President Obama’s jobs bill is not gaining traction.
Yet these same Republicans who have signed this pledge are willing to allow the payroll tax cut to expire and raise taxes on millions of middle class people by the end of the year. Is this an indication that the Grover Norquist pledge is only applicable to the 1%? Is it that the tax pledge is only geared to the income tax? There seems to be an ambiguous loophole in the tax pledge, don’t you think?
Economists have stated that allowing the payroll tax cut to expire could cost the United States economy up to 400K jobs. This is, first and foremost, proof that customers are the job creators, not the bankers or the elite wealthy 1%. Second this proves that the Republicans are not at all concerned about raising taxes on people, as long as it’s not on the wealthy.
Senator Kyl has stated that the difference is that the payroll tax cut puts pressure on the social security program. On this point he is right, yet he and many Republicans would also object to raising the cap on social security contributions which is currently at 106K.
Raising the cap, so a millionaire is contributing the same percentage of his income as someone in the middle class would make social security solvent for many year into the future. Unfortunately, this is considered a tax hike, once again, because it raises taxes on the wealthy.
At least the GOP is showing their true colors regarding whose side they are on. Unfortunately, it is not on your side, if you are a small business owner or an employee working for a department store.
Image: The Voice Reporter