Tuesday, November 22, 2011

He's enamored with payroll taxes

Mr. Obama is urging Congress to extend the payroll tax cuts that were part of his supposed stimulus.  One has to question just how much stimulus these cuts provided. Economists I read say "Very little". Yet, by continuing to espouse the idea of tax cuts, even if payroll taxes, Obama is playing into the hands of the GOP tax cutters. We need both higher taxes and more judicious spending if we are to reduce the deficit significantly. Pushing for a tax cut that has little benefit is not a smart thing to do.

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