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Strategies & Market Trends : The Residential Real Estate Crash Index
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From: Les H8/22/2011 1:30:39 PM
of 306849
 
The Tax the GOP Wants to Raise Is the One Obama Wants to Cut

Obama will give a major economic policy speech in September in which he'll lay out "fresh" ideas for cutting spending and creating jobs. But at least one of the ideas he'll float has been around a while. In a spending deal passed last year, the amount that's automatically taken out of employees' paychecks was lowered from 6.2 percent to 4.2 percent. The tax is scheduled go back up to 6.2 percent on January 1, 2012. Next month, Obama will call on Congress to keep the tax on employees at 4.2 percent and lower employers' share, too.

But Republicans now say that measure might worsen the budget deficit.

theatlanticwire.com
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