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Thursday, December 22, 2011

The Payroll Tax Cut Fiasco, cont...

Dec 22nd, 2011

No matter how Boehner tries to spin this latest development, the shenanigans detailed HEREHERE and HERE amount to tremedous damage to the GOP brand.

Video via MSNBC

Via the NY Times:

"Bowing under intense pressure from members of their own party to end the politically damaging impasse over a payroll tax holiday, House Republican leaders agreed Thursday to accept a temporary extension of the tax cut, beating a hasty retreat from a showdown that Republicans increasingly saw as a threat to their election opportunities next year."

The sheer recklessness of the fringe freshmen in the GOP controlled house makes this an issue for the next November even if congress does pass the full year extension when they return from their exceedingly long, taxpayer-funded vacations.

ABC reports:

"House Republican leaders have decided to accept a short-term extension of the payroll tax cut, preventing a hike in taxes just nine days before the tax break expires for 160 million Americans.

House GOP leaders appeared to be adopting a compromise suggested by Senate Minority Leader Mitch McConnell to pass the two-month extension in exchange for the Senate appointing members to a conference committee, which will negotiate a longer-term solution. The proposal won a nod of approval from President Obama and Senate Majority Leader Harry Reid."

Earlier this year, I predicted the GOP was going to attempt to kill the cut. They really don't want it. That they have positioned themselves in this manner precisely as Obama's approval ratings have begun to rise dramatically is a portrait of not only extremism, but also profound ineptitude.

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