Thursday, 8 December 2011

"Call his bluff". Obama threatens to veto XP Pipeline bill

Congress is packaging approval of the Canadian XP pipeline in with approval of extended payroll tax cuts. President Obama wants those cuts but threatens to veto the bill. 

Related:  Payroll tax holidays are nice and get distributed cheaply and without graft to all working people in the country but the drawback is Social Security goes insolvent faster, sooner. Quotes below from Powerline's "What does social security have to do with the pipeline? story:
“We are working on a bill to stop a tax hike, protect Social Security, reform unemployment insurance and create jobs,” [Boehner spokesman Brendan] Buck said. “If President Obama threatens to veto it over a provision that creates American jobs, that’s a fight we’re ready to have.”

The Democrats’ opportunistic drive to cut FICA taxes is most likely a death knell for Social Security, as many liberal commentators have noted.

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