I was not aware of this and am ashamed to admit that I saw it in a comment at Krugman.
GOP lawmakers say no to a payroll tax cut extension
Two top Republican lawmakers said Wednesday they don't support extending a payroll tax cut as a way to stimulate the economy -an idea the White House is weighing– because they don't believe it helped create jobs and that money is needed to shore up Social Security and Medicare.This morning's headline at ABC reads "Almost 1,500 Millionaires Do Not Pay Income Tax".
Sen. Lamar Alexander, R-Tennessee, and Rep. Jeb Hensarling, R-Texas, who both hold GOP leadership positions, told reporters that the current high unemployment rate is proof that short-term stimulus programs, like the payroll tax reduction, don't work.
"I don't sense how this move will install the confidence that small businesses in east Texas and Fortune 50 companies are going to need to take care of the Obama employment gap," Hensarling said.
"We don't need short term gestures, we need long term strategies that build into our system simpler taxes, lower taxes, fewer mandates, lower costs, lower energy costs, more certainty," Alexander said.
The White House said Tuesday it might ask Congress to extend the expiring reduction in an effort to stimulate job growth....MORE
If I were a political consultant for the Dems I'd probably play the class warfare card right about now.
But I'm not, I despise them both equally.