It has been reported that the two percentage point cut in payroll tax adds about $20 per week to a worker earning $50,000 per year. Unemployment benefits average approximately $300.00 per week. Americans who receive these benefits are not saving money for a rainy day. Americas are putting this money directly back into an economy that has not fully recovered from the recession.
While lawmakers are bogged down in congressional gridlock and trying to determine a means for paying for these much needed extensions, Americans are tying to figure out how they will pay for food, prescription medication and gas if the extensions are not granted.
Lawmakers have been able to find a way to pay for wars, bailouts and wasteful earmarks in the past. These extensions are a lifeline to many families and should not be used as a tug-of-war to advance political agenda.
