DeFazio: Obama makes 'the end' pitch

CNN Parker Spitzer:

Rep. Peter DeFazio: President Obama is telling lawmakers it would be "the end" of his presidency if tax cut deal fails.

Watch the video.

Read the full article here. Discuss below.

Posted on Dec. 15, 2010
 comments

  • 10:36 p.m.
    Dec 15, '10
    (Show?)

    I watched the video. Some Democrats, like DeFazio, seem to have the political survival instincts of lemmings.

    Cutting the payroll tax is about as progressive a tax as I can think of.

    I'm still mad at DeFazio for pushing to build more roads and bridges while we're facing massive teacher layoffs.


    • 1:50 p.m.
      Dec 16, '10
      (Show?)

      Pushing for infrastructure projects is not bad. The more construction jobs you have, the more money you have for teachers.

      The problem with the payroll tax holiday is the risks it can pose to Social Security if we don't make it clear to everyone this is truly temporary, and it sets a very dangerous precedent that we can use FICA as a budgetary gimmick for non FICA funding purposes.

      •
        2:24 p.m.
        Dec 17, '10
        (Show?)

        Interesting point about using FICA "as a budgetary gimmick" for non-FICA purposes. I hate all these machinations and I'm not convinced anyone knows what they are doing or that any of it is to the good.

    •
      6:30 a.m.
      Dec 17, '10
      (Show?)

      As Mitchell points out, the payroll tax reduction is NOT a progressive idea. In fact, in my opinion it is the VERY worst thing about this horrible sellout of the middle class: by tying Social Security's funding to the general fund for the first time in history, this deal makes Social Security vulnerable to deficit-cutting pressure. Mark my words- this "deal" spells the end of Social Security.

      •
        2:22 p.m.
        Dec 17, '10
        (Show?)

        When Social Security ends, it will be end times for everything.

        There is nothing progressive about the social security tax. It's an absolutely flat tax, worse, capped at roughly $105k. At 7.5 each to employers and employees, it is effectively a 15 percent non-refundable flat tax on the working and middle class to cover an increasingly large and long-lived retired class. The idea may be (to some extent) "progressive" but the tax sure isn't.

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