Michael Hiltzik, “Social Security payroll tax cut is no way to give workers a break,” Los Angeles Times.
But even assuming you want to deliver a break to the workers for whom the payroll tax is the biggest item in their federal tax, what’s not debatable is that this is the wrong way to do it.
Why? Because it skips over millions of Americans, including some of the poorest laborers. And it potentially undermines Social Security.
“It’s basically blowing a hole in the system,” Nancy J. Altman, co-director of Social Security Works, a nonprofit advocacy group, told me.
David Dayen, “The Tax Cut Deal Through the Lens of Class,” Firedoglake.
After all, the Child Tax Credit was in the Pledge to America, and would certainly have been kept at the same level as current law in the next Republican budget. And the payroll tax cut does such potential damage to Social Security, and actually raises taxes above current law to the working poor, and provides more benefit based on income, that you have to see it as a Republican idea, as the Republicans did.
Bob Henley, “NJ Rep Garrett Not Sold on Deal for Bush Tax Extender,” WNYC.
“What will that do?” asks Garrett. “That will make Social Security even weaker going forward. So if you are a senior citizen I’d think you would have a lot concerns about the president’s proposal right here.”