Fred’s Thoughts – December 1st, 2011

Senate Republican leader Mitch McConnell agreed Wednesday to an extension of the payroll tax reduction The move followed criticism of Republicans after deputy Republican senate leader said Sunday his party would likely oppose the extension because it has not produced growth.

Though agreeing now to the extension, there will be a fight over how to pay for the extension. Democrats have proposed a 3.25 pc surcharge on millionaires.

Republicans want to extend the pay freeze on federal workers. They are asking millionaires, however, to sacrifice also by barring them from receiving food stamps.

Please note the last line is not a misprint. If the Gop has its way, millionaires can’t receive food stamps.

To no one’s surprise, the Republicans will try to once again save the millionaires.

Republicans will try to pay for extension of the payroll tax cut by freezing federal pay and raking benefits from seniors. Sen Bob Casey of Pennsylvania has legislation that will pay for the cut with a surtax on millionaires.

From @amprog

All the numbers you need to know about the payroll tax cut and extending emergency unemployment benefits in one place:

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