Prime Cuts

The CS Monitor has taken the position that Obama has reached a good deal with his compromise position.

I take the position that I do not like the part of the deal that cuts payroll taxes to Social Security. The idea is to reduce that tax which is used to feed the Social Security fund only for 2011. Then in 2012, it goes back to "normal."

Give me a break, as GK points out and many many others who know a whole lot better, will the Republicans want to let that expire at the end of next year. Hell no, give me a break. Give me a f-ing break.

I say hands off SSI. End of discussion. Hands off SSI. I've payed into that damn account for the last 45 years for cripes sake. I want that damn money.

If that cut is passed, I am officially done with Obama. I will not vote for him in 2012, and I will actively work to reject him in this blog. Its not much, but I will at least do something.

CS Monitor: Obama tax deal could start an era like Reagan's

In today’s charged political climate, in which special-interest groups are more powerful than ever, can Democrats and Republicans ever build a similar trust? They might start to – if the Obama-GOP tax plan is passed by Congress.


...Federal Reserve Chairman Ben Bernanke recently said on “60 Minutes,” fixing the personal and corporate tax codes would “create more incentives for people to invest.”

NPR: Some Worry Payroll Tax Cut Threatens Social Security

The Social Security piece of the controversial tax package seems like something most taxpayers would welcome. Every worker who pays Social Security payroll taxes would see them cut to 4.2 percent from the current 6.2 percent. The maximum tax break would be a little over $2,000, and the cut would expire after one year.


Under the one-year deal hatched by Obama and Republican lawmakers, Social Security's long-term financial problems would not worsen. That's because the retirement program's trust fund would be reimbursed for its lost tax receipts. The money would come out of general revenues, the same pot that pays for food stamps and defense. But Altman, and some Democratic lawmakers, worry that if the payroll tax cut becomes permanent, Congress will balk at making up the shortfall year after year with general revenues.