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  •  That 2% is going into the worker's SS account. (1+ / 0-)
    Recommended by:
    notrouble

    ... so it's a "tax increase" only relative to it's effect on current economic stimulus. In the long run, it's retirement savings - something the American workforce is sorely deficient in.

    We "traded it" for a 4.5% increase on incomes above $450k  - revenue that will be available for everything from infrastructure spending to food stamps.

    This deal was not optimal, but it wasn't a "betrayal" either.

    Have you noticed?
    Politicians who promise LESS government
    only deliver BAD government.

    by jjohnjj on Wed Jan 02, 2013 at 10:22:52 AM PST

    [ Parent ]

    •  Are you really that clueless? (3+ / 0-)
      Recommended by:
      aliasalias, Mr Robert, 3goldens

      The 2% has been going into the worker's "SS account" for the last two years, too. It's just been coming out of general revenues instead of paychecks.

      And it's only retirement savings if the government chooses to continue paying it out at some reasonable level. The President has already offered to make cuts in real benefits by offering the GOP chained CPI.

      In Soviet Russia, you rob bank. In America, bank robs you.

      by badger on Wed Jan 02, 2013 at 10:59:05 AM PST

      [ Parent ]

      •  I stand corrected (0+ / 0-)

        Here's a link to a CS Monitor article, which you may offer (in place of ridicule) the next time someone repeats my misconception.

        Here's another one, from the NY Times. It remarks on fears that conservatives would attempt to revive the Republicans' old 2005 plan to allow workers to divert the 2% into IRAs when the Obama payroll tax holiday expired.

        Perhaps the Dems had a good reason to restore the payroll tax to "normal" now rather than let the TeaPuppets get interested in it later.

        Have you noticed?
        Politicians who promise LESS government
        only deliver BAD government.

        by jjohnjj on Wed Jan 02, 2013 at 08:46:51 PM PST

        [ Parent ]

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