Thursday, December 01, 2011
Misplaced priorities and attacks on the Middle Class
If you follow politics and finances, you'll know that one of the recent measures taken to stimulate the economy was to lower the payroll tax rate. Nearly all workers in America pay the payroll tax which goes to fund social security. The tax cut reduced the payroll tax for everyone, putting more money in people's pockets, especially those in the lower and middle class.
The tax cut is due to expire at year's end, which means that the average American family will end up paying about $1000 more in taxes next year while the economy is still fragile. After much pushing from the President to extend the tax cut, Congress is taking it up and, unlike in the past when such tax holidays were passed without offsets, looking for a way to pay for continuing the tax cut.
Let's see if we can highlight the difference between the two parties.
The Democrats want to pay for the tax cut by a small percentage increase in the tax rate for people making over $1 million per year.
The Republicans want to pay for the tax cut by freezing the salaries of federal workers through 2015.
The last time I checked, the vast majority of federal workers were middle class, with families, mortgages, car payments, and the like. No one on the federal payroll is making over $1 million a year. I myself am about to start paying for my daughter to attend college and while I'm confident we'll manage, it's not like it won't be a bit of a challenge. Federal workers, paid less than their private industry counterparts, are already losing money every year by being under an ongoing wage freeze.
The last time I checked, those making over $1 million per year didn't have to worry about anything, money wise. They can do whatever they want and are already paying historically low tax rates.
In conclusion: Republicans, FUCK YOU.
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Politics
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