See! Bipartisanship works!

[kentuck]

There is some Representative on C-SPAN talking about how the President and the Democrats have worked with the Repubs to get these taxcuts passed. Perhaps these dark days have passed?

It helped that the Dems agreed to take $110 billion from SS fund to give a small taxcut to workers out of their payroll taxes. Brilliant!

It is so good to see the two Parties working together. I am so optimistic.

[rsmith6621]

1. But Where Are The Jobs.....

....Tax Breaks mean nothing to someone out of work....

[emulatorloo]

2. Pay Roll Tax Holiday does not affect Social Security Revenues

http://voices.washingtonpost.com/ezra-klein/2010/12/the_payroll_tax_cut_social_sec.html

The payroll tax cut, Social Security and the problem of the trust fund
By Ezra Klein

The tax deal cuts employee-side payroll taxes by two percentage points in 2011. This won't harm Social Security, or at least it shouldn't harm Social Security, because the money will just be replaced by general fund revenues (confused yet?). All in all, that should mean Social Security emerges unscathed.

====

He goes on to discuss some of the objections that have been raised.

[kentuck]

3. the general fund is borrowed from the Chinese..

The Social Security funds are borrowed from the people. There is a difference.

[emulatorloo]

5. Social Security funds aren't paying for the one year "holiday"

from everything I have read.

FWIW, I don't think anybody is "Happy" or fully supports this compromise. Every interview Obama has given since he has said that the top 2% cuts are worthless and a waste of the $81.5 billion that covers those in the package. (He does not name the number, I got that from CNN Money).

[Sherman A1]

4. I will have to take my 2% and put it into an IRA

so that it is there when I retire.