President Obama has spent the past few weeks trying to shame Republicans for their reluctance to embrace a payroll tax cut extension for workers. Now Republicans are trying to turn the tables.
Conceding that the tax break will ultimately pass the Congress with bipartisan support – last night’s Senate votes notwithstanding — GOP leaders have shifed focus of the debate to Obama’s plan to pay for it. And in doing so they’re hoping to make the president eat his own words.
Obama wants to offset an extension and expansion of the existing payroll tax cut with a new 3.25 percent surtax on all millionaires and billionaires — a plan Republicans say will go nowhere. Instead, they’re offering a menu of spending cuts that they say Obama will find difficult to refuse.
Washington takes out less money for social security recipients and call it a tax cut.. Then raises taxes on the rich as a lame excuse to pay for cuts, while actually spending it on other stupid programs.. The Old Switcheroo..
Tags: Payroll tax cut, Switcheroo
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