Democrats Dog Obama on Tax Holiday

Tuesday, 19 Jul 2011 12:29 PM

By Dan Weil

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Liberal Democrats aren’t too happy about President Barack Obama’s proposal to continue the payroll tax holiday for another year. And they aren’t shy about making their displeasure known, according toThe Hill.

democrats obama tx holidayRep. Peter DeFazio, D-Ore., called the idea a “stupid Social Security tax holiday,” contending the money should be used to fund spending instead, which would provide more juice for the economy.

“It’s a unique tax break. You don’t just give away money, you have to borrow money to give away money, to restore the Social Security trust fund,” DeFazio said. “If you’re going to borrow $110 billion, spend it on infrastructure [and] put 4 million people to work instead of pissing away 25 bucks a week, which is what we’re doing now.”

He and other liberals in Congress are worried that extending the tax holiday will simply lead to making it permanent. That in turn would cut Social Security’s main source of funding, putting future benefits at risk.




© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Rep. Mike Kelly Offers Obama 'Lump of Coal for Christmas'

Saturday, 20 Dec 2014 07:50 AM

All forms of energy in the United States should be developed to spur job creation and economic growth, Pennsylvania Repu . . .

Politico: Obama May Give Dems 80 Percent of 2016 Latino Vote

Friday, 19 Dec 2014 19:18 PM

President Barack Obama may be on track to helping deliver as much as 80 percent of Latino voters to the 2016 Democratic  . . .

Obama Appointee's Group Accused of Illegal Politicking

Friday, 19 Dec 2014 19:09 PM

A nonprofit group run by an Obama administration appointee may have supported Democratic mayoral candidates in Californi . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved