Congressional Republicans should take President Obama up on his sudden concern for taking money out of the pockets of Americans, across the board.
This past week, President Barack Obama defended his push for extending the federal payroll (Social Security/FICA) tax cuts for a second year and unemployment benefits for a third year, thusly:
Independent economists, some of whom have in the past worked for Republicans, agree that if we don’t extend the payroll tax cut and we don’t extend unemployment insurance, it will hurt our economy. The economy won’t grow as fast and we won’t see hiring improve as quickly. It will take money out of the pockets of Americans just at a time when they need it.
Given all the money taken out of Americans’ pockets during Obama’s first three “fundamental change before recovery” years, I suspect that the “time” that he deems that Americans need more money in their pockets is during the President’s re-election campaign.
Now would be a great time for Speaker John Boehner to one up the White House and fashion a bill that puts more money in Americans pockets during all the other times they need it, i.e. permanently, and finally fashion a tax policy of certainty that might have a chance to stop some Atlases from shrugging.