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1. Cut the EMPLOYER's side of Social Security tax to 4.2% from the current 6.2%. -This will certainly create jobs and it will give self-employed individuals some relief (The Self-Employed pay both ends of Social Security taxes). Why this wasn't put in is a real head-scratcher.
2. Increase the child tax credit to $2500, make it permanent and refundable. Why? Because thanks to unchecked gluttony for the last 80 years, every baby born today is starting out with $44,500 in debt.
44500/18 years= ~2500
Give them a fighting chance for God's sake.
Do both of the above and you will see a real recovery. Right now the deal is slanted against 99.5% of the population.
1. Cut the EMPLOYER's side of Social Security tax to 4.2% from the current 6.2%. -This will certainly create jobs and it will give self-employed individuals some relief (The Self-Employed pay both ends of Social Security taxes). Why this wasn't put in is a real head-scratcher.
2. Increase the child tax credit to $2500, make it permanent and refundable. Why? Because thanks to unchecked gluttony for the last 80 years, every baby born today is starting out with $44,500 in debt.
44500/18 years= ~2500
Give them a fighting chance for God's sake.
Do both of the above and you will see a real recovery. Right now the deal is slanted against 99.5% of the population.
#2 shouldn't have to be paid for since both parties insist on looting the treasury. Let them figure out where to cut spending.
#1 will pay for itself. Employers adding to payrolls and an economic recovery will take care of this one.
The economy will NEVER recover unless the housing market recovers. It's that simple. Not many options left.
So on number 2 you follow the traditional Republican montra of "Well, it doesn't matter as long as taxes are cut"
And on number 1 you follow the other traditional Republican montra that "tax cuts create jobs" yet, we just left a period where taxes were cut more than any other time in our history, yet here we are in a unemployment funk.
Cutting spending should be the #1 priority, and keep taxes exactly where they are now.
This would benefit the economy because it would reduce the debt, making the money everyone has worth more, which allows them to buy more, which allows companies to hire more people.
Tax cuts don't create jobs, just wealth. It doesn't ensure how that wealth is used, generally, its sat upon.
1. Cut the EMPLOYER's side of Social Security tax to 4.2% from the current 6.2%. -This will certainly create jobs and it will give self-employed individuals some relief (The Self-Employed pay both ends of Social Security taxes). Why this wasn't put in is a real head-scratcher.
2. Increase the child tax credit to $2500, make it permanent and refundable. Why? Because thanks to unchecked gluttony for the last 80 years, every baby born today is starting out with $44,500 in debt.
44500/18 years= ~2500
Give them a fighting chance for God's sake.
Do both of the above and you will see a real recovery. Right now the deal is slanted against 99.5% of the population.
With the shape of the global environment and changing climate, natinal debt will be the least of their worries. It's a serious deal, for sure, but I'd advise them to not live in the American SW, or on the coast, or on a island. They might be safe in Oklahoma.
So on number 2 you follow the traditional Republican montra of "Well, it doesn't matter as long as taxes are cut"
And on number 1 you follow the other traditional Republican montra that "tax cuts create jobs" yet, we just left a period where taxes were cut more than any other time in our history, yet here we are in a unemployment funk.
Cutting spending should be the #1 priority, and keep taxes exactly where they are now.
This would benefit the economy because it would reduce the debt, making the money everyone has worth more, which allows them to buy more, which allows companies to hire more people.
Tax cuts don't create jobs, just wealth. It doesn't ensure how that wealth is used, generally, its sat upon.
I am neither Repub/Dem/Conservative/Lib nor any other label. I am part of the Taxpayer party.
They never tried cutting SS taxes for employers.. which I think will work. Of course, the boomers would probably have a fit, but look at the mess they unintentionally left behind with this 'pyramid scheme' Social Security nonsense. One other way to pay for it is raise the retirement age 1 year.
Can we please set the language straight?
It does not cost the government anything for tax revenue it does not receive.
This is like a gambler who bets on a sure thing, and makes plans on how to spend the money. Then when he loses the bet, holds the bookie up for the money that he was supposed to receive because he lacked discipline on how his money is spent.
The government already has a budget that was set last year. Any other money spent must come to a vote.
Why should anyone get a tax break for HAVING children? They are your choice to do; not societies. Education costs, medical costs, et al for these children are one of the MAJOR reasons we are in this mess to begin with. Why not give tax breaks to people who CHOSE NOT to have kids? They aren't the ones using the schools and other social programs, which cost the governments BILLIONS of dollars.
If YOU want to have children, you pay for them. They are not my responsibility.
Can we please set the language straight?
It does not cost the government anything for tax revenue it does not receive.
This is like a gambler who bets on a sure thing, and makes plans on how to spend the money. Then when he loses the bet, holds the bookie up for the money that he was supposed to receive because he lacked discipline on how his money is spent.
The government already has a budget that was set last year. Any other money spent must come to a vote.
I have X income and Y expenses.
If I knowingly lower the amount of income, and keep the expenses the same it does cost the government and us money.
For every tax cut there should be a spending cut along with it. Otherwise its the same policy Republicans rail against Democrats doing, in reverse.
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