Republicans found a tax cut they hate!

House Republicans killed the 2 month payroll tax cut extension passed by the Senate just days ago, and bolted Washington, leaving in their midst 160,000,000 WORKING Americans who face an average tax hike of $1000.00 for 2012, not to mention 1.5 Million Americans who will lose long term unemployment benefits on January 1, without this extension.

Why did House Republicans do it? Because they are outraged that almost half the country doesn't pay Federal *Income* Taxes. Why? Because their wages are so low, that combined with earned income tax credits and standard deductions, they are too poor to pay the income tax. And Republicans have done a damn fine job convincing their supporters that these Americans are scofflaws, slackers and worse, while refusing to acknowledge they are paying every other tax in existence. Since none of the other taxes are progressive, as a percentage of income, their bite effects the poor most.

A year after President Obama came into office he proposed, and Congress passed, a modest reduction in the PAYROLL tax, which EVERY worker pays, on their first dollar of earnings. As a percentage of income, who are the biggest beneficiaries of the payroll tax reduction? The working poor. Every employee pays the same 6.2% rate and the tax is capped at just over $100,000/year. A low wage employee who makes $20k/year pays the payroll tax on the entire $20K, whereas the high wage employee, who makes $500K, pays the tax only on the first $106K of earnings.

Without divine intervention, the former payroll tax rate will go back into effect on New Year's Day. To someone making $500K, a thousand dollars is negligible. All bills will be paid, contributions will continue to savings and investments and discretionary spending won't change but, for at least 80,000,000 Americans, that $1000.00 tax increase will mean varying degrees of pain in this still fragile economy, effecting product demand and businesses far and wide.

While House Republicans consider the Bush tax cuts, which overwhelming benefit the wealthiest Americans, sacred, pledging to retain them until death and into the afterlife, there's no such affinity for a tax cut they deem 160,000,000 working Americans don't deserve. They hate it, don't give a damn about the average worker and left town to prove it. There's an election next November. You've got your chance to do something about it. Vote them out, because that's what THEY'VE EARNED!