Death and Taxes – The Payroll Tax Controversy

Well, it’s not quite an issue of life or death, but Ben Franklin reportedly said that the above, were two certainties of life. We know we’re going to die, and we yes, we have to pay taxes.

As the year 2011 comes to an end, President Obama, Speaker Boehner and Majority Leader Reid are entangled in yet another politically charged issue, extending the cuts or reduction in payroll taxes.

Interestingly enough, Obama, on the heels of his economic speech at Osawatomie, Kansas, seems to be taking the role of wanting to lower taxes, a complete turn- around from his determination to allow the Bush-era tax cuts to expire. He even referred to tax cuts as the Republicans’ “Holy Grail” (I wonder what his “Grails” are?)

The President claims that to allow these cuts to expire, will cost American workers $1,000 per year.

A problem for the GOP, had been the Democrat’s insistence on the so-called “millionaires tax”, which reportedly, they have dropped.

To be honest, there are things I am not clear on, as it seems that this issue came out of nowhere, to become a forefront issue as yet another government shutdown looms, if a compromise is not reached.

This Saturday, December 17^th, on Critical Discourse, we will try to decipher exactly what is going on in this end. If anyone understands what the ramifications are, with the maintaining or ending the payroll tax, by all means, we welcome your input or expertise.