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Nope, a two year temporary cut expired. It was not an increase. I never got one when I worked, so you actually kind of screwed us retiree's over if you think about. Then after you get a break you have the gall to complain. Sorry, but that's the way I see it.
BTW, I'm not even Independent. I'm registered no party affiliation.
Sure it went down a few years ago. But that also means the tax increased compared to last year.
Any which way you cut it, my point is simply you don't increase taxes, or end a tax reduction in a weak economy.
And I don't see any Party politics in this. Only common sense. You don't take more in taxes from consumers in a weak economy. Like I already said, if I were king I would have eliminated payroll taxes, actually back in 2008.
Sure it went down a few years ago. But that also means the tax increased compared to last year.
Any which way you cut it, my point is simply you don't increase taxes, or end a tax reduction in a weak economy.
And I don't see any Party politics in this. Only common sense. You don't take more in taxes from consumers in a weak economy. Like I already said, if I were king I would have eliminated payroll taxes, actually back in 2008.
At some point all things must end. I don't see the federal unemployment extension continuing in 2014 (although it is an election year), and I'm pissed Paul Ryan is thinking about caving on the sequester which some say was bad, but I like it. I'm sure this battle will heat up after the first. Our weak economy will continue for some time. Clinton benefitted from the computer boom, so if, and when we innovate it will pick up.
At some point all things must end. I don't see the federal unemployment extension continuing in 2014 (although it is an election year), and I'm pissed Paul Ryan is thinking about caving on the sequester which some say was bad, but I like it. I'm sure this battle will heat up after the first. Our weak economy will continue for some time. Clinton benefitted from the computer boom, so if, and when we innovate it will pick up.
Until our economy and employment are at more satisfying levels I oppose all moves to reduce the amount of money our consumers have to spend. So IMO we should extend unemployment insurance and avoid any sequester. This is not based on politics, but on money. Yes I believe we will eventually pick up, but IMO my ideas will move that forward, not back in time. Innovation is always nice, but right now IMO we still need to promote more on the demand side of our economic problem.
High, and it was a Democratically appointed fed chairman who did it starting in October of 79. The actual record high was after Reagan took office, but doesn't really matter.
Federal funds rate target...
Oct 1979 = 15.5%
Jan 1980 = 14.0%
Aug 1980 = 10.0%
Dec 1980 = 20.0%
The role of Fed Chairmen is to support the policies of the President. Or of the President-Elect.
Taxes should always be lower in a weak economy. IMO payroll taxes should have been eliminated. As I recall the amount of increased taxes collected since they went up under Obama is on the order of 1% GDP.
Horrible history. ARRA included the Make Work Pay tax credits. They phased out completely at an income of about $75K. Republicans refused to extend them into 2011. As part of resolving another Republican hostage crisis, Obama accepted a two-year payroll tax holiday that cut 2% from the employee share of SS taxes. Rich people thus got a nice 2% kickback on all of their first $100K-plus of earned income. Republicans love the rich. The two years expired at the end of 2012. Hence so did the tax holiday. And by the way, all the money that SS didn't get as the result of the tax holiday was simply paid to them out of general revenues instead.
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