payroll taxes

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Democrats May Offer New Payroll Tax Proposal

They might back away from demand for tax on millionaires

(Newser) - Democrats may jettison their demand for higher taxes on millionaires as part of legislation to extend payroll tax cuts for most Americans, officials said today. The move comes as President Obama and Congress struggled to clear critical year-end bills without triggering a partial government shutdown. Republicans, too, signaled an eagerness...

House Passes Doomed Version of Payroll Tax Cut

It links cut to oil pipeline, will likely die in Senate

(Newser) - Defiant Republicans passed legislation tonight to extend Social Security payroll tax cuts long sought by President Barack Obama—but they included a much-disputed Canada-to-Texas oil pipeline that has drawn a veto threat. The vote was 234-193. The bill now goes to near-certain demise in the Democratic-controlled Senate, triggering the final...

Payroll Tax Could Face Vote Today

GOP plan would tie measure to oil pipeline approval

(Newser) - The payroll tax cut could see a vote today under a GOP measure linking it to the controversial Keystone XL oil pipeline. House Republicans, who have been fighting the tax cut, want to tie approval of the extension to approval of the pipeline, which would bring oil through Canada to...

New GOP Push: No Jobless Benefits for Rich

They also want to keep millionaires off food stamps

(Newser) - The GOP has found some millionaires it won't stand up for: Millionaires on food stamps. House Republicans have added a measure to their payroll tax holiday bill that would cut off food stamps and unemployment benefits for people with a gross adjusted income of $1 million or more, the...

Obama's Payroll Tax Cut Weapons: Clock, Calculator

See how much time we have left, how much money you could owe

(Newser) - President Obama is pushing hard for the extension of the payroll tax cut, and has two weapons to aid him in his quest: a doomsday clock and a calculator. The countdown clock has been set up in the White House press room and appears, conveniently, behind the podium. The video...

Obama to GOP: Keep Your Word on Taxes

President chides Republicans on payroll taxes

(Newser) - President Obama continued his onslaught on congressional Republicans today, saying that Congress needs to extend a payroll tax cut in light of an economic recovery that's "still fragile" and middle class families who need the money. In a statement given from the White House this afternoon, Obama urged...

Michele Bachmann on Newt Gingrich: He's a 'Memory Challenged Professor'
 Bachmann: Newt a 
 'Memory-Challenged Prof'
TALK SHOW ROUNDUP
Dec 4, 2011 12:10 PM CST

Bachmann: Newt a 'Memory-Challenged Prof'

Candidates begin fight for Cain supporters

(Newser) - Michele Bachmann thinks people "are going to be really sorry" to see the end of Herman Cain, but wasted no time today in courting his Tea Party backers , saying they would "come home," and ripping into current GOP frontrunner Newt Gingrich. "Professors don't like to...

Obama Pushes Payroll Tax Cut Amid GOP Split

President puts pressure on Congress to act

(Newser) - President Obama wants voters to get involved in the debate over extending the reduced payroll tax, and he's asking them to tell members of Congress to keep the cut in place. "Let your members of Congress know where you stand," Obama said today in his weekly radio...

Next Dogfight for Congress: Payroll Taxes

And this time, the outcome could cost you about $1K

(Newser) - Now that the super committee lies in ruins, Congress has another scramble on its hands—what to do about the current payroll tax holiday, which is up Dec. 31, and unemployment benefits, which expire for 2 million people soon after. Failing to extend either could put a serious dent in...

Obama Scrambles for Jobs Plan
 Obama Scrambles for Jobs Plan 
Aug 30, 2011 7:59 AM CDT

Obama Scrambles for Jobs Plan

But problem may be too big to fix

(Newser) - As he announced the appointment of Alan Krueger yesterday, President Obama promised a speech outlining his new jobs agenda next week—but behind the scenes, Obama and company haven’t actually agreed on that agenda yet, the Washington Post reports. The president is considering a number of options, including a...

If We Took Buffett's Advice, How Much Would It Help?

Quite a bit—but it likely won't happen

(Newser) - Warren Buffett made waves yesterday when he told the federal government to stop "coddling" him and other wealthy Americans and raise taxes on the rich. His plan would roll back the Bush tax cuts on people who earn more than $1 million and on capital gains and dividends income,...

Warren Buffett: Raise My Taxes, Please

Let's have some real 'shared sacrifice'

(Newser) - Washington keeps talking about “shared sacrifice”—but it's not asking the mega-rich to join in, writes Warren Buffett in the New York Times . “While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue...

Twitter Wringing $22M From Strapped Frisco

Company threatens to leave San Francisco without payroll tax break

(Newser) - Pity poor Twitter. After recently raising $200 million on a $3.7 billion valuation , it doesn't want to cough up a city payroll tax. So the company is on its way to winning a major tax break from struggling San Francisco after threatening to leave its city digs for the...

Economy Grew Modestly in 3rd Quarter

2.6% rate beats predictions; economics optimistic for year's end

(Newser) - The US economy grew at a moderate pace last summer, reflecting stronger spending by businesses to replenish stockpiles. More recent barometers suggest the economy is gaining momentum in the final months of the year. Gross domestic product increased at a 2.6% annual rate in the July-September quarter, the Commerce...

69% of Americans Support Obama's Tax Deal

Even when confronted with deficit issues, support only drops to 62%

(Newser) - Bernie Sanders may not like President Obama's tax deal, but most of America supports it. A new ABC News /Washington Post poll shows 69% support the tax-and-benefits package and only 29% oppose it. Even when confronted with the fact that it could add $900 billion to the deficit, the level...

Chance of Double-Dip Recession in 2011 Falls to 15%
Chance of Double-Dip Recession in 2011 Falls to 15%
economists predict
Dec 13, 2010 8:25 AM CST

Chance of Double-Dip Recession in 2011 Falls to 15%

GDP will grow 3%, they estimate

(Newser) - The Bush tax cut deal has some economists walking on sunshine. Experts are getting more upbeat in their forecasts for next year, predicting accelerating growth, finds the Wall Street Journal in its latest forecasting survey. The 55 experts who weighed in expect GDP to grow in “nearly every period,...

Why My Company Isn't Hiring
 Why My Company Isn't Hiring 
opinion
Aug 9, 2010 1:10 PM CDT

Why My Company Isn't Hiring

Taxes are driving up unemployment

(Newser) - Why is unemployment so high? Blame the government, writes Michael Fleischer in the Wall Street Journal . Using the employee who has his company's median salary as an example, the head of Bogen Communications explains that though she makes $59,000 on paper, she actually takes home only $44,000 after...

Pundits' Misleading Stat: '47% Owe No Taxes'
Pundits' Misleading Stat: '47% Owe No Taxes'
analysis
Apr 14, 2010 12:09 PM CDT

Pundits' Misleading Stat: '47% Owe No Taxes'

It refers only to federal income taxes

(Newser) - One of the popular talking points being thrown around is that 47% of households owe no income tax in 2009, writes David Leonhardt. It's usually followed by an argument that the wealthy pay an unfair proportion of taxes while many Americans skate free. "Neither one of those ideas is...

Social Security to Take In Less Than It Pays Out in 2010

Payouts exceeding revenue 6 years ahead of predictions

(Newser) - The recession has battered Social Security, too: The program will pay out more in benefits than it receives in payroll taxes this year, says the Congressional Budget Office. The system hadn't been expected to reach its "tipping point" until 2016. The change will have no effect on benefits, but...

Tea Partiers Just Plain Ignorant
 Tea Partiers Just Plain Ignorant 
OPINION
Mar 19, 2010 1:43 PM CDT

Tea Partiers Just Plain Ignorant

Anti-tax activists have no idea how much they pay in taxes

(Newser) - For a movement that frets so much about the “burden of federal taxation,” Tea Party adherents have a remarkably dim understanding of what they actually fork over to Washington. In a recent survey of anti-tax activists in Washington Tuesday, tea partiers thought, on average, that 42% of GDP...

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