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Groups who advocated for the IRS to prepare tax returns sure look foolish these days: http://t.co/oKvpIofu7Y
May 13, 2013 06:30 PM
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"We don't need the federal government mandating additional taxes..." -@MarshaBlackburn on MFA: http://t.co/lAuLJtr5t3 #NoNetTax
May 13, 2013 06:00 PM
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Health insurers and businesses are already feeling the iron-clad grip of regulations in #Obamacare: http://t.co/J6dfnKqFYZ
May 13, 2013 05:30 PM
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Virginia Governor Bob McDonnell Signs Largest Tax Hike in Virginia History into Law http://t.co/Qd6KOFfaPv
May 13, 2013 03:46 PM
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Under #Obamacare, mothers have had a tougher time purchasing non-prescription, over-the-counter medicine: http://t.co/dJuaGAT9LE
May 13, 2013 02:01 PM
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9 out of 20 #Obamacare tax hikes have not even been implemented yet: http://t.co/opFkyf1guJ
May 13, 2013 01:30 PM
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.@GroverNorquist on MFA: "[The Senate] didn't ask all of the questions that needed to be asked": http://t.co/wXfkIR2Ca9 #NoNetTax
May 13, 2013 01:01 PM
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"When architects of #Obamacare are worried about it creating a trainwreck, you know something's gone terribly wrong": http://t.co/J6dfnKqFYZ
May 13, 2013 12:30 PM
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Conservative and Free Market Groups Applaud Move to Delay a Vote on Gina McCarthy: http://t.co/lNQYmJAB12 #EPA
May 13, 2013 12:02 PM
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The #Obamacare train wreck will derail the American economy: http://t.co/opFkyf1guJ
May 13, 2013 11:30 AM
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ATR Opposes Payroll Tax Break Extension if Paired with New Tax Hikes
This week, the United States Senate will be voting on a proposal to expand and extend a payroll tax holiday. The plan (authored by Democrat Bob Casey of Pennsylvania) would extend the 2011 payroll tax holiday by one year, and expand it from 2 percentage points to 3.1 percentage points of payroll (half the worker "share" of Social Security taxes).
Unfortunately, the bill is paired with a permanent, jobs-killing tax hike. It would impose a permanent 3.5 percentage point "surtax" on adjusted gross income in excess of $1 million. According to a study by Congress' own non-partisan Joint Committee on Taxation, this tax hike will fall directly on 34 percent of all the profits earned by small businesses in America.
In other words, the Casey bill permanantly raises taxes on employers in order to continue (or slightly expand) for only one year a tax cut for employees. Over time, that's a large net tax increase and a jobs-killer.
ATR is opposed to the Casey tax bill for this reason. Support for the Casey bill would be a violation of the Taxpayer Protection Pledge, since it is a long-term tax hike and imposes a higher marginal income tax rate on small employers.
Ideally, an extension of the payroll tax holiday should be paired with a spending cut of equal or greater size.
Posted by Ryan Ellis 
on Wednesday, November 30, 2011 3:09 PM EST
on Wednesday, November 30, 2011 3:09 PM ESTTo follow Ryan Ellis's RSS feed click here. To follow them on Twitter, their handle is @ryanlellis
