Why the shift away from Making Work Pay and towards the payroll tax holiday?
Making Work Pay: The No-Impact Tax Rebate Program originally appeared in the Daily Reckoning.
For most Americans, this Making Work Pay tax credit began showing up in your paychecks last April.
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The one-year payroll tax reduction would take the place of a two-year extension of the Making Work Pay credit.
Last year, Congress voted in a payroll tax holiday to replace the expiring Making Work Pay Credit.
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Thanks to the Recovery Act, 110 million working families received a tax cut through the Making Work Pay tax credit.
The payroll tax holiday was meant to last only one year and take the place of the Making Work Pay Credit.
Some Republicans prefer the payroll tax reduction to the Making Work Pay program because it goes to everyone who works, regardless of income.
In an effort to get cash to the rest of the country, ARRA offered taxpayers a tax break called the Making Work Pay Tax Credit.
Shadow work and pensions minister Stephen Timms said Labour would "get the welfare bill down by getting the country back to work, and making work pay".
In two-parent families where one parent does not work, families will not receive support - which is said to underline the government's support for making work pay.
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"Our welfare reforms will transform the lives of some of the poorest families in society by making work pay and lifting thousands out of poverty, " said the spokesperson.
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While Washington seems obsessed with the fate of the Bush tax cuts, it has paid little attention to a soon-to-expire Obama tax cut: the Making Work Pay credit (MWP).
The Making Work Pay Credit, which also applied to earned income, was authorized under the American Recovery and Reinvestment Act of 2009 and was expected to be a temporary cut.
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It said there was support for the four underlying principles of simplification, auto-entitlement, information transfer and making work pay, with a call for those individuals currently receiving passported benefits to continue to receive them.
As Congress is fond of doing, apparently so that they can fight over it every year, that tax provision, like the Making Work Pay Credit, was limited and is set to expire on December 31, 2011.
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According to the Treasury Department's inspector general for tax administration, 15.4 million taxpayers may unexpectedly owe Uncle Sam money for tax year 2009 because in connection with the Making Work Pay Credit, enacted as part of last year's stimulus bill, Congress ordered withholding rates reduced.
The first bill I signed into law was making sure that there was equal pay for equal work for women -- the Lilly Ledbetter Act -- (applause) -- because I think you should be paid the same for doing the same work.
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President Dilma Rousseff just signed a law making companies pay overtime for calls and emails outside of work hours.
We must go forward in our commitment to the new basics, giving parents greater authority and making sure good teachers are rewarded for hard work and achievement through merit pay.
And when the economy grows, we all will be happy to pay more taxes because we all will be back at work, busy making money instead of sitting at home on food stamps and unemployment.
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While many rankings look at what newly minted college graduates are making, we ranked the schools based on the pay of alumni with 10 to 20 years of work experience.
It means streamlining, making the system work, records going, lower administrative cost, less paperwork, but they don't pay more.
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