Death and Taxes II – The Payroll Tax “Settlement”

Last week on Critical Discourse, we had a very lively and informative discussion. For one, we welcomed a new caller/contributor, Mr. Pianki, who really brought some valuable and information to the table, especially around the larger economic picture.

Since then, after  much contentious exchanges between the GOP and Democrats, the House, after receiving much criticism from even the “conservative” Wall Street Journal, agreed to extend the Payroll Tax-cut for 2 months.

Well, it can be said that President Obama was able to pigeon-hole the GOP, to the extent that he was able to transform himself as the “Champion” of lowering taxes, strange indeed, given his “Holy Grail” analogy to the GOP just last year, as they argued with the president, not to raise taxes.

I would think this issue is far from over, as for one, the sense I get is that the American public, including myself, do not really understand the real role and impact of payroll taxes, as to whether reducing or increasing them, helps or hurts.  Once they do, they will understand that this was nothing more than a political football, with Mr. Obama effectively using populist rhetoric, harping on the $1,000 increase that would somehow, break most of us; (that’s just $19.23/week. Hmmmm.)

Critical Discourse will air at its original time 6:30 AM, so please take note, and we hope to receive you and your opinions.