The Cost of Obama: 17k per person, 70k per family

[lifelongMOgal]

Obama pushes each American $17K further into debt and he thinks a payroll taxcut extention which will put approx. $40/month back in the pockets of those receiving a paycheck is going to be helpful (while simultaneously taking Social Security closer to insolvency).

[le roi]

Originally Posted by rogerbacon

17k in taxes

this isn't $17k/person in taxes. you're assuming that we intend to pay off the national debt in full.

this is $17k/person in new dollars, from the digital printing press, in the form of government debt. it's not even the only way we create new dollars.

Originally Posted by lifelongMOgal

Obama pushes each American $17K further into debt and he thinks a payroll taxcut extention which will put approx. $40/month back in the pockets of those receiving a paycheck is going to be helpful (while simultaneously taking Social Security closer to insolvency).

i think it will be helpful economically, although it is very small and will probably be imperceptible. if it was up to me they'd eliminate the payroll tax entirely.

the general idea is that , for the bottom 80, 90% of american households, there is shortage of money. The corporate sector is flush with cash. So a payroll tax cut does ease that problem, by stimulating demand where it is needed.