President Obama has proposed to extend the payroll tax cut for low income Americans. Since the TEA Party acronym stands for “taxed enough already” you’d think that TEA Party Republicans would jump on that and agree with the President for a change. You’d think wrong.
Rep. Jeb Hensarling (R-Texas) told the AP “It's always a net positive to let taxpayers keep more of what they earn, but not all tax relief is created equal for the purposes of helping to get the economy moving again.”
Rep. David Camp (R-Mich.), chairman of the Ways and Means Committee, said he also opposed the 12-month tax cut because it would cost the government about $120 billion next year if it were renewed.
According to the Washington Post the Bush tax cuts amount to about $130 billion per year so I guess that means Republicans will now be against renewing those too. Why aren’t we hearing Lamar Smith and Quico Canseco coming out in favor of either continuing the payroll tax cuts or not renewing the Bush tax cuts? Is expecting logical consistency too much to ask?
It looks like Smith, Canseco and Hensarling never saw a millionaire tax break they didn’t like.