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Who Will You Blame for Your Smaller Paycheck?

The House and Senate are at odds over extending the payroll tax cut. If the extension doesn't happen, what will come to mind when you get your first check in 2012? Take the Patch Poll.

If your paycheck shrinks on the first payday of 2012, who will you blame?

The House, the Senate and the president are at odds over how to extend the payroll tax cut and for how long. A two-month extension bill passed in the Senate and foundered in the House, where representatives say temporary fixes won't fly and a full-year deal must be forged.

Barack Obama has called Senate Majority Leader Harry Reid and Speaker of the House John Boehner to push for a resolution.

On top of the possible 2 percentage point rise in the payroll tax, unemployment aid will dry up unless Congress acts.

The Southland's congressional reps voted along party lines. Judy Biggert and Adam Kinzinger stuck with John Boehner, while Dan Lipinski, Jesse Jackson Jr. and Bobby Rush voted to extend the tax cut.

Juvenal December 23, 2011 at 04:04 PM
To begin with, what even minimally rational government enacts payroll-tax relief for just two months? As a matter of practicality alone, it makes no sense. The National Payroll Reporting Consortium, representing those who process paychecks, said of the two-month extension passed by the Senate just days before the new year: “There is insufficient lead time to accommodate the proposal,” because “many payroll systems are not likely to be able to make such a substantial programming change before January or even February,” thereby “creat[ing] substantial problems, confusion and costs.” The final compromise appears to tweak this a bit to make it less onerous for small business. But what were they thinking in the first place? What business operates two months at a time? The minimal time horizon for business is the quarter — three months. What genius came up with two? U.S. businesses would have to budget for two-thirds of a one-quarter tax-holiday extension. As if this government has not already heaped enough regulatory impediments and mindless uncertainties upon business.
BlackHawks Fan December 23, 2011 at 05:14 PM
For those of you that want to read the rest of the article Juvenal copied!!! http://www.washingtonpost.com/opinions/the-gops-payroll-tax-debacle/2011/12/22/gIQAUjgPCP_story.html I actually think the payroll tax holiday is not a good idea at all, but with that said I also believe that it was forced into action because of the Bush Tax cuts. If the Dems didn't fold on that issue this new payroll tax cut probably would not have to happen.
Gloria December 23, 2011 at 05:15 PM
It passed, get over it and it will be taken up again after the holiday. Scrooge did not win this time.
BlackHawks Fan December 23, 2011 at 05:22 PM
I don't think Scrooge is going to win after the holidays either!!!
OakLawnGuy December 23, 2011 at 05:46 PM
This is still bass ackwards. The tax cut is being taken....er, borrowed....from Social Security. You can trace its origins back to GW Bush. Borrowing from Peter to pay Paul for political reasons. I blame every politician involved in what started as the Obama Administration and has turned instead into a 4-year long campaign for the Presidency, 2012. Yeah, both sides of the fence.

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