President Obama and the GOP (sorry Dem's, but Obama just threw you under the bus) worked out a deal for extending tax cuts, extending unemployment AND reducing FICA taxes.
From Fox News: "The "framework" of the deal that Obama outlined Monday evening calls for a two-year extension of the cuts in all income tax brackets. It also would extend long-term unemployment benefits through next year. The estate tax rate would be renewed, but at a lower rate than even during the Bush administration. And the Obama administration is proposing a one-year payroll tax reduction that sources say would cut the amount contributed to Social Security from 6.2 percent to 4.2 percent.
"I have no doubt that everyone will find something in this compromise that they don't like," Obama said, but "we cannot play politics at a time when the American people are looking for us to solve problems." He said letting taxes increase for all Americans would create a chilling effect on the economy."
http://www.foxnews.com/politics/2010/12/06/obama-proposes-payroll-tax-reduction-deal-taking-shape-bush-tax-cuts/
I have a problem extending unemployment benefits for another year, making benefits available for almost 3 years. The estate tax should still be $0. The Social Security tax cut is nice, but will it effect the solvency of Social Security? Of, course this do not effect me as I pay no social security tax because of my job.
Harry Reid was not excited nor were liberals, as they were shoved under the bus by Obama. Did the liberals feel the tires running over them and do they have tread marks on their GAP shirts?
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