Fica House Insurance

FICA deal FUBAR

I refuse to call the Social Security tax a “payroll tax.” Alas, the rest of the media has bought into Barack Obama’s newspeak. The reality is it is part of the Federal Insurance Contributions Act, which also funds Medicare. President Obama and a Democratic Congress decided to short-change Social Security by $120 billion this year in the name of a stimulus — and now President Obama and Democrats want to short-change Social Security by $260 billion next year. Republicans are reluctant to do something this fiscally irresponsible, but Senate Republicans are willing to do it for another two months. That will not work

From ABC News :

Pete Isberg, president of the [nonprofit National Payroll Reporting Consortium] today wrote to the key leaders of the relevant committees of the House and Senate, telling them that “insufficient lead time” to implement the complicated change mandated by the legislation means the two-month payroll tax holiday “could create substantial problems, confusion and costs affecting a significant percentage of U.S. employers and employees.”…

The two-month payroll tax holiday, which the president has said should be extended throughout 2012, will mean that wages would face a Social Security tax of 4.2 percent during January and February, but it would increase to 6.2 percent in March.

Isberg wrote that “many payroll systems are not likely to be able to make such a substantial programming change before January or even February. The systems affected tend to be highly complex, normally requiring at least ninety days for a change of this magnitude for software testing alone; not to mention analysis, design, coding and implementation.”

From Allah Pundit : “That’s not the only group that says two months is too short. The National Association of Wholesale-Distributors wrote to Congress today to second the conclusions of the NPRC, so in case there was any lingering doubt about how tonight’s House vote will go, this should eliminate it. The only mystery now is how partisan the roll will be. Will House Democrats stick with Reid by endorsing a policy that would cause chaos to payrolls across the country or will they bail too, backing Reid into a corner? And what happens now to Senate Republicans like Scott Brown who have been grumbling that Boehner’s reversal on the two-month extension is ‘irresponsible and wrong’? Do they cave under the weight of the NPRC verdict or press on for another dumb, lazy stopgap measure? Only one thing is certain: If not for one last round of congressional histrionics and floor drama, there’d be nothing to blog about this week at all.

FICA deal FUBAR « Don Surber

I refuse to call the Social Security tax a “payroll tax.” Alas, the rest of the media has bought into Barack Obama’s newspeak. The reality is it is part of the Federal Insurance Contributions Act, which also funds Medicare. President Obama and a Democratic Congress decided to short-change Social Security by $120 billion this year in the name of a stimulus — and now President Obama and Democrats want to short-change Social Security by $260 billion next year. Republicans are reluctant to do something this fiscally irresponsible, but Senate Republicans are willing to do it for another two months. That will not work

From ABC News :

Pete Isberg, president of the [nonprofit National Payroll Reporting Consortium] today wrote to the key leaders of the relevant committees of the House and Senate, telling them that “insufficient lead time” to implement the complicated change mandated by the legislation means the two-month payroll tax holiday “could create substantial problems, confusion and costs affecting a significant percentage of U.S. employers and employees.”…

The two-month payroll tax holiday, which the president has said should be extended throughout 2012, will mean that wages would face a Social Security tax of 4.2 percent during January and February, but it would increase to 6.2 percent in March.

Isberg wrote that “many payroll systems are not likely to be able to make such a substantial programming change before January or even February. The systems affected tend to be highly complex, normally requiring at least ninety days for a change of this magnitude for software testing alone; not to mention analysis, design, coding and implementation.”

From Allah Pundit : “That’s not the only group that says two months is too short. The National Association of Wholesale-Distributors wrote to Congress today to second the conclusions of the NPRC, so in case there was any lingering doubt about how tonight’s House vote will go, this should eliminate it. The only mystery now is how partisan the roll will be. Will House Democrats stick with Reid by endorsing a policy that would cause chaos to payrolls across the country or will they bail too, backing Reid into a corner? And what happens now to Senate Republicans like Scott Brown who have been grumbling that Boehner’s reversal on the two-month extension is ‘irresponsible and wrong’? Do they cave under the weight of the NPRC verdict or press on for another dumb, lazy stopgap measure? Only one thing is certain: If not for one last round of congressional histrionics and floor drama, there’d be nothing to blog about this week at all.

House

Two stranded couples find shelter in an inn but find themselves trapped in a game with rules setting up a life-or-death situation.

House

Tracy Kidder takes readers to the heart of the American Dream: the building of a family's first house with all its day-to-day frustrations, crises, tensions, ...

The House

A workaholic attorney, Sarah Anderson finds her life transformed by an unexpected inheritance from an elderly client and by a magnificent mansion, built in the ...

Little House in the Big Woods

Based on the real adventures of Laura Ingalls Wilder, LITTLE HOUSE IN THE BIG WOODS is the first book in the award-winning Little House series.

House Rules, A Novel

Unable to express himself socially but possessing a savant-like knack for investigating crimes, a teenage boy with Asperger's Syndrome is wrongly accused of ...