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View Diary: NPR falsifies "facts" about Social Security (184 comments)

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  •  Also offset it from killing Making Work Pay (0+ / 0-)

    which put money into the pockets of the working poor in favor of giving up to $4 grand in payroll holiday  to double income six and seven digit earners.

    The net result of the 'holiday' were tax increases for millions of workers at the lower end of the income spectrum while the upper middle class got a payoff. Unfortunately the political people around Obama believe the poor have nowhere to go and so pandering to the 80-99% of income folk even as they bash the top 1% is the magic divide and conquer strategy for reelection.

    •  Nonsense (0+ / 0-)

      First, Obama signed Making Work Pay into law. He was hardly against it.

      Second, their is no evidence Making Work Pay could have been extended to 2011 given Republican control of the House and their obvious hostility to helping poor people. The temporary payroll tax cut, by contrast did pass.

      Third, the payroll tax cut put more money in the pockets of all income groups relative to the true alternative which is no MWP and no tax holiday. MWP was better for those under $20,000. Payroll tax holiday is better for those making $30k and more, but still positive for those below 30k.

      Fourth, the total size of the fiscal stimulus from the payroll tax holiday was larger than MWP, even if the multiplier was slightly smaller. (1.09/1 vs 1.17/1). Bigger stimulus is better for the economy.

      The payroll tax holiday is not the optimal stimulus policy, but it was positive, and it did pass.

      •  Republicans pushing a similar tax credit (0+ / 0-)

        Right now as an alternative to the payroll tax extension.

        No there is no guarantee that MWP if backed by Obama would have drawn support by R's, if he is for something they are generally agin' it. Equally there is no reason to dismiss it out of hand. Nor do you presen evidence or even an argument thar tax breaks for the 80-99%ers are actually stimulative in comparison with more targeted ones.

        I may be wrong but 'nonsense' is a little strong here. Though if I may say so fairly typical and perhaps the root cause of that "at each others  throat" allusion.

        •  Let's dispense with hyperbole (0+ / 0-)

          The EPI. Analysis of MWP versus the payroll tax cut, which I am sure you read, Made clear that the payroll tax cut generally put more money in the pockets of people earning over 30k than did MWP. That is not 80-99ers.  That people below 30k also benefit is also true even if they benefit less than with MWP.

          The question of what the marginal propensity consume for the 80-99ers is a red herring. No one said the payroll tax cut was the optimal stimulus but that it was the biggest stimulus that was able to pass.

      •  Also the payroll tax cut din't (0+ / 0-)

        give any benefit to the super rich who get their money from cap gains and dividends. Since they don't pay SS tax on their income they got no cut.
        Obama has been adept at keeping almost all benefits on the lower 90 or 95%.

        I'm asking you to believe. Not in my ability to bring about real change in Washington ... *I'm asking you to believe in yours.* Barack Obama

        by samddobermann on Fri Dec 09, 2011 at 05:13:28 AM PST

        [ Parent ]

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