Nancy Pelosi backs Obama’s Social Security tax-cut plan despite strong opposition in her caucus

[Better Believe It]

Pelosi backs Obama’s tax-cut plan despite strong opposition in her caucus
By Mike Lillis
September 9, 2011

House Minority Leader Nancy Pelosi (D-Calif.) on Friday backed President Obama’s plan to extend and expand a payroll-tax holiday, despite liberals’ concerns that the move will damage Social Security.

Pelosi said that, despite the opposition from many in her caucus, “there’s a comfort level as to what will achieve.”

“We’ve pretty much gotten to a place where there’s general acceptance that that’s going to be part of the initiative,” Pelosi told reporters in the Capitol. “This is, again, a compromise. The president feels very committed to it. … It fits comfortably in what he is proposing.”

“It’s imperative that we do everything we can to put money in the pockets of consumers,” said Rep. Ted Deutch (D-Fla.). “But there are a lot of ways to do it that take from the funding stream for Social Security.” Rep. Peter DeFazio (D-Ore.), another critic of the tax break, said the latest proposal “jeopardizes the future of Social Security, and we’d have to borrow more money to pay for it.”

Read the full article at:

http://thehill.com/homenews/house/180597-pelosi-backs-obamas-tax-cut-plan-despite-opposition-of-many-in-her-caucus

[earthside]

1. It makes me very unhappy ...

... that Pres. Obama has put Leader Pelosi in this position.

Democrats should never be in the position of undercutting the premise and rationale for Social Security.

[Better Believe It]

5. She is not being "forced" to take a position in favor of weakening Social Security.

She could take a clear stand in defense of Social Security, Medicare and Medicaid.

The buck in the House of Representatives stops with her!

[midnight]

2. K&R

[orpupilofnature57]

3. Her first order of business as speaker was to enable the biggest

misanthropes in history ,you expected something different?

[Generic Other]

4. a comfort level?

Time to start making the bastards uncomfortable.

[bbgrunt]

17. yes.

:thumbsup:

[ProSense]

6. Pelosi

backs the President's proposal just as these elected Democrats do:

Congressional Black Caucus statement on the President's jobs proposal

Congressional Progressive Caucus statement on the President's jobs proposal

Elected Democrats respond to the President's jobs proposal

[dawg]

7. Technically, this proposal does not weaken Social Security.

The trust fund is to be made whole from the general fund for the amount of payroll tax that is not collected.

It is only a reduction in the Social Security funding stream if we allow people to successfully paint it as such. I am much more concerned about the Presidents weasel-words about Medicare.

[customerserviceguy]

21. All that means is that we're going to borrow from the Chinese

to put more IOU's into the trust fund. It takes away the argument, "Social Security does not contribute to the national debt."

[tblue]

8. Why can't we be the party that protects Soc Sec?

I don't understand it and I don't accept it.

[rusty fender]

9. It is a brilliant plan, at this time.

It will create some jobs if passed, and will give a jolt to the economy. If the repubs don't pass it, it will show the American people what putzes they are.:think:

[kentuck]

10. What is your scenario if the Repubs refuse to increase the FICA taxes?

What would the Democrats do? What could they do?

[Better Believe It]

12. Who is proposing to increase the FICA taxes (lifting the CAP) much less permit the cut to expire?

[madfloridian]

11. Thanks, I just read that online.

Glad you posted it.

Deutsch is right.

"It’s imperative that we do everything we can to put money in the pockets of consumers,” said Rep. Ted Deutch (D-Fla.). “But there are a lot of ways to do it that (don’t) take from the funding stream for Social Security.

Deutch vowed to “continue the fight” to kill the provision."

[ProSense]

15. Here is Deutch's statement:

U.S. Rep. Ted Deutch, D-Boca Raton. Represents Broward and Palm Beach counties:

"During August, I heard loudly and clearly from constituents and business leaders who want us to act boldly on the economy. Tonight, President Obama put forward plans that the vast majority of Americans can get behind, like rebuilding our infrastructure, incentivizing new hires, and keeping more teachers, cops, caregivers, and other workers on the job.

"I know my Republican colleagues will find many things wrong with the President's proposal, and I myself have some concerns. Given the severity of our longterm unemployment crisis, this package may not sufficiently boost America's economic growth. In addition, an expansion of the payroll tax cut is imprudent when there are so many other ways to deliver middle class tax relief that do not siphon away Social Security funding.

"The bottom line is that we cannot afford to have 14 million Americans sitting on the sidelines of our economy. For the past 8 months, Republicans have blocked any and all jobs legislation from the House floor, and their strategy has clearly failed our communities. My Republican colleagues cannot oppose every plan to boost our economy just because President Obama has proposed it. It is time to put aside blind partisanship and work together to turn this economy around."

link

I disagree with the claim that the payroll tax cut will "siphon away Social Security funding." Still, a good statement.

[Angry Dragon]

18. The money just comes out of the general fund

No money saved
and it opens up SS to more tinkering

I feel it is a stupid move
better to increase the cap
and tax the more wealthy

[sabrina 1]

19. It increases the debt which this President claims was a primary

goal of his to bring down, and it jeopardizes the future way SS is funded.

Not to mention, why is SS part of this discussion? Why is it part of EVERY discussion when it has nothing to do with the underlying problems it is being used for?

You can attempt to defend this all you want, but it is a transparent effort to cater to the longheld dreams of Republicans, a cynical use of a fund that should be defended with everything they have, by anyone claiming to be a Democrat.

And if Bush was doing this, YOU would be screaming as would everyone on this board and throughout the Democratic Party.

[Safetykitten]

13. Well, there you have it. Any questions from the no-wayers?

[Horse with no Name]

14. To the Democrats, achievement is defined as to what the republicans will allow them to have.

Personally...hollow victories and kabuki theatre interest me not.

IMHO, a FIGHT with a loss is a larger victory.

[madfloridian]

16. Excellent statement. Defining ourselves by GOP criteria.

[LWolf]

20. Shocked.

:sarcasm: