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Financial Planning > Tax Planning

Republican Image on Taxes Takes a Hit (Los Angeles Times)

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“Along the way to deciding whether to extend President Obama’s payroll tax cut, something damaging happened to the Republican Party’s once-dominant position on tax policy,” writes Lisa Mascaro. Republicans have had a clear advantage in voters’ minds on taxes for years, in part because of a popular and unified message in favor of tax cuts. But on the payroll tax, Obama and congressional Democrats had a simple story line — that Republicans were holding up a tax break of $20 a week for 160 million working Americans. As a result, when asked who they would trust more with the issue of “handling taxes” — Obama or congressional Republicans — voters were evenly divided. Republicans are well aware of this change in sentiment. The way the [payroll tax cut] debate took shape has “certainly caused damage” to the GOP image, House Budget Committee Chairman Paul D. Ryan (R-Wis.) said Thursday. “It muddled the differences” between the two parties, he said.