have an extension of the payroll tax holiday. what we re talking about, really, is a matter of politics rather than a matter of substance. the substance of the matter is, republicans are very much against raising taxes, particularly in a weak economy. for all the reasons that you just outlined, you don t want to hurt those who are helping to create jobs in the united states. what we have here, though, is an entirely different issue. you have a payroll tax holiday. last year, the congress and the president came out with an agreement that said, we are going to divert 2% of the money that you would otherwise be putting away for social security, back into your pockets. that amounted to about $19.24 in everybody s pocketbook, per week. now what we have is a democratic proposal that says, we re going to take 3% out, and not only are we going to take 3% out of social security, but we re also going to tax millionaires, we re going to tax the wealthy people, tax the people who are creating the
Detailed text transcripts for TV channel - CNN - 20090821:05:52:30
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Detailed text transcripts for TV channel - CNN - 20090821:02:53:15
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