WASHINGTON — Confronting an economy in peril, President Barack Obama unveiled a larger-than-expected $450 billion plan Thursday night to boost jobs and put cash in the pockets of dispirited Americans, urging Republican skeptics to embrace an approach heavy on the tax cuts they traditionally love. With millions of voters watching and skeptical of Washington, Obama repeatedly challenged Congress to act swiftly.
The newest and boldest element of Obama's plan would slash the Social Security payroll tax both for tens of millions of workers and for employers, too. For individuals, that tax has been shaved from 6.2 percent to 4.2 percent for this year but is to go back up again without action by Congress. Obama wants to keep it and deepen the cut to 3.1 percent for workers.
4 comments:
Obama kept saying Social Security was going bust and they might not be able to mail out checks. How are we getting ahead by cutting what is paid into the fund?? I know this might sound great but if Social Security is to be there for our children it needs to be funded and the govt. needs to keep it's hands out of the pot!
A wage earner making $30,000 will realize an additional $330 over the course of a year. That's $27.50 more per month. That's sure to turn around the economy! I say 4 more years for this economic wonder!
Obama is just stuck on stupid
Everybody thinks Obama is stupid ,but he very smart his intentions are to destroy America and so far Obama has received an A+,and he is not finished yet,I hope the ass holes that voted for him are happy
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