President Barack Obama injected a poison pill into his jobs/temporary tax cut bill -- a 10-year, 5 percent surtax on people who earn more than $1 million annually that was sure to be rejected as a job killer by House Republicans. The GOP House, in turn, injected veto bait into its version of the bill -- which passed Tuesday -- most notably a sped-up decision on the Keystone XL pipeline, which the Obama administration had delayed until after the 2012 election.
Democrats in the Senate want to make the temporary tax cut even bigger and “offset” that tax cut with some soak-the-rich tax increases. Republicans, meanwhile, are frozen like deer in the headlights.
Considered in isolation, payroll tax cuts in the jobs bill look like a crass political stunt: reducing revenues by $240 billion next year and then magically disappearing right after the November elections.
Who poses the biggest threat to destroy Social Security? President Barack Obama.
Pressure is building on President Barack Obama to call for an extension of the so-called payroll tax holiday. Keeping it in place, say the people who favor the idea, brings some kind of needed economic stimulus... In reality it’s a dangerous idea, almost certainly doing more harm than good.
President Obama's latest swing of the bat to get the economy growing again looked a lot like his previous attempts when he couldn't make a base hit.
The only tax increase that’s going to save us is one that comes from a vibrant, job-creating private sector that’s growing government revenues because the economy is healthy. Unless Obama takes his foot of the neck of energy, this economy is going to sputter.
After axing his top economic advisor last week, word from the White House is that Obama is considering a method of stimulus that would have been an anathema two years ago, but has been long favored by conservatives: Cutting corporate payroll taxes.
While Cain is not a candidate for president yet- he’s still in the exploratory stage- Cain already has a program that he thinks can put Americans back to work while getting rid of the reckless and wasteful spending in Washington. In doing so, Cain hopes to start a revival of American business that will create real, high-paying jobs.
Back in the days before the State of the Union was used to showcase Congress's bipartisan spirit and parties still sat on opposite sides of the aisle, the American people could get a good read on a party's position on an issue from their reaction to lines in the speech.
As the 111th Congress limps to its can't-come-soon-enough adjournment, both sides of the argument on the tax/unemployment bill should take to heart Amb. Holbrooke's dictum.
You've got to give Barack Obama credit. His learning curve gets steeper and steeper, but he continues to climb.
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