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Republicans Find A Tax Cut They Don’t Like — One That Helps Obama
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Contributor | Servo |
Last Edited | Servo Jun 30, 2011 02:10pm |
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Category | Blog Entry |
Author | Brian Beutler |
News Date | Wednesday, June 29, 2011 08:00:00 PM UTC0:0 |
Description | Let's assume Democrats and Republicans team up in the next few weeks to pass a very GOP friendly debt reduction bill. And let's stipulate, too, that, as in Britain and elsewhere, the spending-cut magic doesn't do anything to help the unemployment crisis, leaving President Obama and the Democrats a huge political liability -- and national problem -- they won't be able to resolve by election time in November.
This is why they're trying to squeeze something -- anything -- into the debt ceiling package that will provide near-term stimulus, to improve the jobs situation or at least counteract the austerity measures. Unfortunately, Republicans have foreclosed on the highest-impact ideas economists have recommended -- aid to states, infrastructure investment, and other direct spending projects.
So they've settled on a fourth- or fifth-best option: a plan to provide employees deeper, temporary relief from the payroll tax, and extend that relief to employers as well. It's not the most stimulative thing in the world -- but it is a tax cut for business owners, so at the very least it should have some buy-in on the right, no?
You might think so, but you'd be wrong. |
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