December 19, 2012 is the date of the last update. Read my articles:
Fiscal
Cliff: Negotiating with a Weak Hand?
Krugman
Sends ‘Deficit Scolds’ Straight to Hell
Saved
from Another Great Depression?
The
Twinkie Economist Looks at the 1950s
Snookered
on the Fiscal Cliff
A
Persistent ObamaCare Factoid
Reeling
from Fiscal Vertigo
Claire
McCaskill: ‘Other People’s Money’ and Marijuana
Todd
Akin: It’s the Majority, Stupid
‘The
Policies That Caused the Mess in the First Place’
Recovery
and the Fed’s ‘Exit Strategy’
The
Weight of the Fed in the Voters’ Decision … also here
at TAC
The
Brokest Nation
America’s
Road to Perdition
Putting Sand in the Gears of the Price Mechanism
Inequality: The Cudgel of Progressives
‘Repeal and Replace’ Is Not Enough ... at TAC ...
‘Fun Facts’ from Barbara Shelly on Wacky, Ignorant Missouri
Howard Dean: A Piece of Work
If All Else Fails: What to do if Akin doesn’t step aside
The Impact of ObamaCare on the Economy
ObamaCare: The Most Recent in a Parade of Horribles
ObamaCare Thwarts Tax Reform
Did the ‘Individual Mandate’ Survive?
The Tax You Need Not Pay
Taxes: ‘Heresies of the Obvious’
Long-term Budgeting by a Short-term Congress
What ‘Every Economist’ Says
The Aesthetics of ObamaCare … also HERE as Release the Kraken
A Raging Prairie Fire of Lies
Election Fraud: A new special report from Fox News
‘Marriage Equality’ and the Public Interest
Obama’s Blank Check
ObamaCare and Freedom
Taxing Thoughts from Justice Sotomayor
ObamaCare’s Real Price Tag
Paul Krugman’s History Problem
‘Let Voters Decide’: Tax Reform in Missouri
Mandatory Spending by a Broke Nation
Sandra Fluke and the Nature of Insurance
‘Nobody Considers That a Tax’
Elections in America: ‘Inaccurate, Costly, and Inefficient’
ObamaCare’s Moral Conscience Accommodation
America’s One True Religion
Krugman’s Premature Victory Lap
The Company Men
Non-citizen Voting in Connecticut
A Diseased Economy Awaits the Correct Diagnosis
Voter Fraud for the Complete Idiot
For you lovers out there, here’s French Canadian
actress Andrée Lachapelle and composer Michel Legrand in a duet from Legrand’s The Umbrellas of Cherbourg:
The Restoration draws nigh.
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1 comment:
Hello. This whole Mitt Romney thing got me going, and I found your article on Americanthinker.com about removing the payroll tax.
http://www.americanthinker.com/blog/2011/04/removing_the_payroll_tax_cap.html
think you raise some great points. Id like to take the pro position, that doing so now is the most reasonable way to address the issue of social security long-term solvency. Obviously, these funds would be tied to that.
First off, the reason it needs more money is because of the size of the baby boomer generation. If the funds were raised now, while they are still of working age, then they would be the ones to most directly benefit from it.
What benefit is this cap? The end result of this cap is that they pay a lower percentage in taxes (payroll taxes) than those underneath.
I think this is more fiscally responsible, because it seeks to pay for a , rather than write off our ability to address this issue on account of the deficit. I believe America has overcome some amazing things in its history and that the way to look at it is that this is something we can overcome too. I don't think it rationally follows to gut a program that has been a backbone of what separates us from the chaff among nations, especially when what that program does is care for our elderly.
To address the deficit is something that will have to be done of course, and that is going to have to be done by a combination of cuts and an increase in revenue. It becomes a matter of economic debate at that point, but I don't think removing this cap would hurt the economy at large...and as we know now, the fed has taken the unlimited funds approach with QE3 (the rationale I think being that we wont see inflation until after demand returns and unemployment goes down, in which case you are in the clear because the fundamentals of the economy have been restored.) What this would actually do is equalize the burden in terms of percentage of income paid as tax (payroll tax), and no one wonders why a guy like Mitt Romney only pays 15% of his income in tax when the middle class pays 30%.
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