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Monday, December 12, 2011
House to Vote on Middle Class Tax Relief & Job Creation Act: What the House GOP Cave
Looks like the House GOP Leadership took a trip up to Atlantic City over the weekend and put some money down. On what it would look like if they allowed the Payroll Tax Cut Expire without an Extension. Lost badly and concluded they don't want to make that gamble for the 2012 General Elections. And look like Tax Hikers especially with 60 Plus House Freshmen up for reelection in 2012. As well as being the party thats suppose to be about Fiscal Conservatism. They made the right decision whether it was about politics or and even decided to do their impression of Santa Clause. By offering to Extend Unemployment Insurance, I haven't read the bill myself and lets see what kind of votes it gets tomorrow. And whether the Tea Party Caucus votes against the bill and kills and do any democrats vote for it. Senate Democrats having been trying to pass a similar bill but keep getting blocked by the Senate GOP Leadership. If the House passes the bill maybe that will loosen the grip that Senate Minority Leader Mitch McConnell has on his Conference. And Senate Democrats will finally be able to pass their bill. Its one thing to try to play gridlock to make the other party look bad but its another thing to play gridlock. When you have seats up for reelection especially in the neighborhood of over 60. I believe 63 to be exact 1/4 of the House Republican Conference.
Thanks to the Tea Party 63 House Republican Freshmen up for reelection in 2012. And the last thing you want to do when you have Tax Cuts at risk in weak economy, is to allow for a Middle Class Tax Hike. Especially when you've gone out of your way to argue that Tax Hikes on High Earners would hurt the economy. And risking allowing for a Tax Hike on the Middle Class when they can't afford it and then get blamed for it. Which is what I believe this is about. Congress has to pass an Extension of the Payroll Tax Cut and I would even make it permanent and add employers to that. Because its a Regressive Tax on the Middle Class and hits Small Business hard as well. As well as an extension of Unemployment Insurance so people who are struggling to find another job right now. Would at least have that as they are looking for work and I would even add to that. Allowing these people to go back to school as well as work Part Time jobs to keep their skills in check. While they are looking for a Full Time job, something that Obama Administration already supports, as well as Newt Gingrich.
We look like we are about on a verge to getting this economy going and break out of the "Great Recession" completely. With the November Jobs Report with the falling Unemployment Rate and thanks to the Holiday Season and other things. We'll probably have a decent Fourth Quarter Economic Growth Report as well. So the last thing we should be doing is to allow for a Tax Hike. Or cut people completely off from any income, just because they can't find work.