White House Denies Report of Making Work Pay Tax Cut Proposal

By: Monday October 29, 2012 7:00 am

As is typical for Washington trial balloons, the White House is denying a report that they would push for a tax cut similar to Making Work Pay to replace the payroll tax cut and continue the stimulative wage subsidy effect amid an economy that’s still growing too slowly. Allowing the payroll tax cut to expire, [...]

White House Returns to Making Work Pay as Potential Stimulative Tax Measure

By: Friday October 26, 2012 6:11 pm

The White House, per Zachary Goldfarb at the Washington Post, is considering returning to the working family tax cut used in 2009-2010 as part of the Recovery Act, to replace the payroll tax cut, which expires at the end of the year. The refundable tax credit would not deal with the Social Security trust fund [...]

Payroll Tax Cut Will Expire Because of Its Relationship to the Social Security Trust Fund

By: Monday October 1, 2012 7:52 am

It’s been pretty clear for a while that the payroll tax cut would not be making a return appearance in 2013. Nancy Pelosi basically confirmed this last week, but you could actually see this coming as far back as June. So Annie Lowrey’s eulogy for the payroll tax cut really plays catch-up more than anything. [...]

Ron Klain Tries to Boost Geithner on Payroll Tax Deal

By: Wednesday December 28, 2011 8:13 am

I have to chuckle at Ron Klain’s story about the subtle genius of the Obama Administration with respect to the payroll tax cut. Ron Klain was IN the Obama Administration. He was Joe Biden’s chief of staff for two years. This is like someone with the pen name “Larack Lobama” praising the President’s negotiating skills. [...]

Making Work Pay Tax Credit Always Superior to Payroll Tax Cut

By: Tuesday December 27, 2011 10:39 am

The passage of another two months of a payroll tax cut, which is expected to be followed by re-upping it for a full year, presents progressives with something of a Hobson’s choice: endorse a stimulus policy which does put money in the hands, for the most part, of people who will spend it, but deal [...]

Democrats to Push for Payroll Tax Cut Extension

By: Tuesday August 23, 2011 8:55 am

We’re headed into a Bizarro world situation over the next few months, where Democrats will be demanding a tax cut, with Republicans lining up on the side of a tax increase. But before I explain, let me question that first sentence. Is it such a Bizzaro world scenario? The stimulus package had 40% tax cuts. [...]

Sin of Omission by Geithner in Chest-Thumping over Tax Cut Deal

By: Saturday January 15, 2011 11:59 am

Tim Geithner led an Administration effort yesterday to publicize in glowing terms the tax cut deal passed by Congress and signed by the President during the lame duck session in December. Concurrently, they sent out a fact sheet with some similar statistics that Geithner described in a press briefing. He claims that 159 million workers [...]

Tax Cut Deal Heads Toward Inevitable Conclusion

By: Thursday December 16, 2010 7:20 am

The House will take up the tax cut bill today, and there’s little drama in the proceedings. The bill’s going to pass, probably as written. The President was reportedly leaning hard on Democratic lawmakers who he wanted to vote for the package, actually saying that failure would result in the end of his presidency. Just [...]

The Payroll Tax Cut Versus Making Work Pay, in One Chart

By: Monday December 13, 2010 9:13 am

Nancy Altman of Social Security Works has created a chart that shows just how imbalanced this tax cut deal is because of the use of the payroll tax cut. Tax Cuts for Illustrative Workers Under Making Work Pay and the Proposed Payroll Tax Cut Income Level or Occupation of Worker 2010 “Making Work Pay” Tax [...]

Desire to Fight from Rank and File, But Ultimately Negotiated Surrender on Bush Tax Cuts

By: Sunday December 5, 2010 9:03 am

Chuck Schumer expressed an “appetite” to fight for expiration of the Bush tax cuts for income above $250,000, even if it meant that all of them expire. That would be the way to get them, but it’s not likely to happen. The President is too far dug in on not letting taxes rise for “middle [...]

Tax Cut “Compromise” is Not a Compromise

By: Tuesday November 16, 2010 9:10 am

It’s amazing that Republicans are about to get away with calling the extension of the entire Bush tax cuts a “compromise.” But that’s what’s going to happen. Here’s incoming House Budget Committee Chair (shudder) Paul Ryan. Rep. Paul Ryan (R-Wis.) said that some sort of compromise is in order, such as a temporary extension of [...]

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