After the clock on the one year extension is about to run out, Richard Milhous Obama thinks he has an issue he can beat Republicans with. Some don't want to continue the tax holiday, because it pays for the ponzi scheme known as Socialist Security, which is going broke.
So John Boehner and the House GOP actually did something great. They came up with a REAL jobs bill that includes extending the payroll tax holiday (National Review Online).
Dubbed the Middle Class Tax Relief and Job Creation Act, the bill is fully paid for with spending cuts and other savings measures, such as:
• Extending the current pay freeze for federal workers through 2013 ($26 billion).
• Phasing in means testing of Medicare premiums for wealthy seniors ($31 billion).
• Preventing millionaires from receiving unemployment insurance and food stamp benefits ($20 million).
• Prohibiting IRS payments to illegal immigrants ($9.4 billion).
• Repealing mandatory funding for the “prevention and public health fund” in Obamacare ($8 billion).
The proposal also provides funding for a two-year “doc fix” to prevent significant scheduled reimbursement cuts for Medicare physicians, and contains a number of additional job creation and welfare reform measures, for example:
• Reforming unemployment insurance, using a two-step process to gradually reduce the maximum time of benefits eligibility from 99 to 59 weeks. Requiring recipients to be actively searching for work, enrolled in a GED program, or participate in a reemployment program as a condition for eligibility.
• Accelerating a decision on the Keystone XL oil pipeline, requiring a permit to be granted within 60 days unless “the president determines the project is not in the national interest.”
•Extending 100 percent business expensing through 2012 to encourage investment.
• Extending and reforms the Temporary Assistance for Needy Families (TANF) program, set to expire at the end of the year. Closes the so-called “”strip club loophole” so blocking access for welfare electronic benefit transfer (EBT) cards in strip clubs, liquor stores and casinos.
The House will pass the legislation early next week, putting pressure on the Senate, which has repeatedly failed to pass its own version of the payroll tax extension, to act. It is also a direct challenge to President Obama, who has threatened to “reject” any measure to extend the payroll tax cut that includes “extraneous” provisions, namely the one relating to the Keystone XL pipeline.
“If the President is serious about his commitment to get the economy going and help small businesses create jobs in this country, he’ll work with us and sign this bill,” said House Majority Leader Eric Cantor (R., Va.).
UPDATE: Cantor’s office points out that many (more than 90 percent) of the “pay-for” measures in the House bill are drawn directly from President Obama’s September 2011 “jobs” proposal.
But Obama says he'll veto this bill and Democrats in the Senate, like Dingy Harry Reid, are going to block it.
So what's going on here? I mean, weren't we told that Obama had a laser like focus on jobs? So, what's not to like? The Keystone Pipeline project would create 20,000 jobs, and all that oil flowing would put more on the market, and cause gas prices to fall. But the Community Organizer in Chief is such a doofus he thinks more unemployment will create more jobs than Keystone.
You guessed it....politics. While Obama and the libs accuse the GOP of playing politics, it is they who, in reality, are making political hay of this.
Obama doesn't want to make a decision on Keystone until after 2012 (meaning, the election) because he needs the votes of the extreme far-Left treehugging, flat-earthers like that idiot Robert Redford and Carl Pope, who once said, "We're Better Off Without Cheap Gas." So, that keeps fuel prices higher, less people working, and, with less people working, less money in tax revenue going into the government coffers.
But Obama's plan isn't about cutting taxes or creating jobs, it's about punishing the rich. That's how he wants to pay for this tax holiday, but adding a surtax on millionaires.
Smooth move! Just like the phony "Jobs Bill" Obama pushed, nothing but a tax hike on the rich disguised as a job creation act. Everything with this Regime and his party is a political ploy, like a big cow patty from a feedlot covered in icing and passed off as chocolate cake.
Bottom line...Obama doesn't care about extending the payroll tax, nor does he care about creating jobs. He just wants the issue to bash Republicans over the head with.
Good for Boehner, Cantor and the House GOP for calling Obama on his bluff.