“But our struggling economy is the President’s own creation. His tax hikes—in income taxes, payroll taxes, and Obamacare taxes—will take $150 billion out of the economy this year alone. The $150 billion doesn’t magically appear in Washington’s bank account without real consequences. It comes out of your paycheck. It means less money for your boss to give you a raise. Small businesses won’t have the money to hire new employees. You’ll have less money to save for your retirement or your child’s college fund.”
As DeMint mentioned, the expiration of the 2-percentage point payroll tax cut took a chunk of money out of the pockets of hardworking American families.
In a display of willful omission, Obama told shipyard workers that Washington couldn’t keep asking “working families like yours to shoulder the entire burden of deficit reduction.” Every single one of those workers saw the government take a bigger chunk of their paychecks this year when the 2-percentage point reduction in the payroll tax expired.
Obama never fought to extend the tax cut in the fiscal cliff deal. Just one year earlier though, he called the extension of the payroll tax holiday “the right thing to do to strengthen our families, grow our economy, and create new jobs. This is real money that will make a real difference in people’s lives.”
Americans need real leadership, not a presidential flip-flopper.