Later this week, the Senate will vote on a part of the President’s jobs plan, which would keep the payroll tax cut from expiring and expand it to give workers a bigger tax cut worth an average of $1,500. To keep this tax cut from adding to our debt, it’s fully paid for by making millionaires chip in 3.25% on the income they make above a million dollars — the key reason why Republicans in Congress are opposing the bill.
Republican politicians want every American worker to pay MORE taxes just so millionaires can pay LESS.
Politicians need to put our economy and workers first, not the millionaires funding their campaigns. But Washington Republicans are now opposing a payroll tax cut that’s creating jobs and putting money in the pocket of every working American — just so the wealthiest few can keep paying less. They’ll do just about anything to protect tax giveaways for millionaires and the rest of the 1% — even at the expense of the rest of us. Millionaire tax giveaways don’t trickle down. But Obama’s tax cuts mean more money for every American worker and small businesses. That means more customers in our stores and more hiring. We all do better when we all do better. And that means looking out for all Americans, not just the 1%.
For those who say:
"We can’t afford to keep the payroll tax cut — the debt is a bigger problem."
- Actually, Obama’s plan is fully paid for by making millionaires chip in a little more taxes on the money they make over a million bucks. Washington Republicans have some nerve complaining about the deficit when they created the record deficits we’re dealing with today.
- Let’s face it: Washington Republicans are using the deficit as an excuse to defend tax giveaways for the 1% funding their campaigns.
- The best way to handle our debt is to put Americans back to work — and that’s just what Obama’s jobs plan would do. But Washington Republicans are risking another recession by threatening to make the payroll tax cut expire.
- Actually, a payroll tax cut does create jobs, and it has some of the best "bang for the buck" among job creation ideas. President Obama’s payroll tax cuts would mean hundreds of thousands of new jobs.
- It puts money in the pocket of every working American with every paycheck — and it’s especially helpful to small business owners. That means more customers for our stores and more hiring.
- It’s a question of whether our tax system rewards work or wealth. Republican politicians are opposing tax cuts for workers so trust fund kids living off family fortunes can keep paying less.
"We can’t raise taxes on millionaires because they’re our job creators."
- Actually, small business owners and American workers power our economy — and they’re the ones who benefit the most from the payroll tax cuts.
- We can’t go back to "trickle down." We saw what it led to under Bush: the slowest job growth since World War II and record deficits.
- But when President Clinton made millionaires and big corporations pay their fair share in taxes, we got millions of new jobs and strong economic growth.
WHAT YOU NEED TO KNOW
- If the current payroll tax cut expires at the end of the year, 160 million working Americans will see their paychecks reduced by an average of almost $1000 over next year and a million American jobs could be lost. President Obama’s jobs plan would extend this tax cut, increase it to $1,500 for a typical family, and make it more affordable for businesses to hire — and that could create more than 50,000 jobs each month.
- This year alone, Washington Republicans repeatedly chose millionaires over jobs for our teachers, construction workers, and even veterans, and kept trying to make working Americans pay more taxes so millionaires can pay less.
- In fact, GOP presidential hopefuls and Republican governors across the country are also fighting for tax giveaways for the 1% while cutting the programs that all Americans rely on.
- Millionaires and billionaires are raking in higher incomes and skyrocketing bonuses while paying the lowest income tax rates in generations.
- The tax code is already skewed to help the richest few the most — and that’s not an accident. It’s the result of the choices made by Republican politicians to make the richest 1% even richer.
- Most Americans agree that we need to raise taxes, including 3 out of 4 who support making millionaires pay higher taxes.