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| By Joseph Hovanec Jr. |
It is truly amazing how House Republicans were forced to cave to Senate Democrat and Obama's Demands to Scrap the full year $1000 Tax Cut already passed by the House, and instead pass the inferior and inadequate 60 day $160 tax cut passed by the Senate instead.
The entire Main Stream Media and just about every Political Pundit condemned Republicans for taking a stance on Principal for the American People, forcing the GOP's hand to settle for less. The Democrats, led by Obama and their Media Lapdogs falsely reported to the American People that if Republicans did not pass the Senate Plan they would be responsible for increasing taxes. What kind of Math is that?
The reality is that the Senate, controlled by Democrats would have been the cause of a tax increase because the House controlled by Republicans passed a 12 month $1000 tax cut and the Senate cut that back to a 60 day $160 tax cut.
What is worse is the Media is reporting that the Democrats and Obama have won the fight. How can giving less to the American People be viewed as a victory?
It is a sad state of affairs when the Media can successfully create the illusion that a $160 tax cut is more for the American People than a $1000 tax cut. Whats worse is the majority of Americans actually believe they are getting something. How sad is that?
This tax is also being touted as a payroll tax cut which is in itself disingenuous. Most Americans equate payroll taxes with federal tax deductions. This cut is a reduction in the FICA tax deduction which is the only thing that funds Social Security. If they want to give a tax cut then cut the Federal Tax rate by 2% and leave Social Security alone. An extension of this tax cut no matter how long it is can only result in the acceleration of Social Securities path to insolvency.
Not only is this a bad deal for the American People in the face dollar amount alone, it is a far worse deal for Seniors who are absent on the issue.
I would bet anything that if George W Bush or any other Republican President advocated cutting funding to Social Security they would be accused of tossing grandma over the cliff in her wheelchair and we would see TV adds visualizing that very thing, but Obama can do just that and we hear not a word from Seniors.
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