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“House Democrats yesterday approved an extension to the Bush tax cuts for families earning less than $250,000, a measure almost certain to be rejected in the Senate. But negotiators worked behind the scenes on an eventual compromise that could extend the cuts to top earners as a way to win Republican support,” the Boston Globe adds. “A deal on the income tax cuts, which expire this month, could emerge in the next week from the small group of negotiators.”
The New York Post: “In a final bit of political theater before relinquishing power, House Democrats yesterday passed a bill to extend the Bush tax cuts for the middle class while letting those for high earners expire -- a measure that succeeded only in infuriating Republicans.”
Speaker-to-be John Boehner called the maneuver “chicken crap,” but remember back in September when he said he would vote for a middle-class tax cut? Business Week: “Boehner would support extending tax cuts for those making less than $250,000 a year ‘if that’s what we can get done, but I think that’s bad policy,’ he said yesterday on CBS’s ‘Face the Nation’ program. ‘If the only option I have is to vote for some of those tax reductions, I’ll vote for it. I’m going to do everything I can to fight to make sure that we extend the current tax rates for all Americans.’”
Roll Call: “Senate Democrats braced for a pair of showdown votes on tax cuts scheduled for Saturday after Republicans backed away from a deal for a more orderly treatment of the tax cut issue late Thursday night. Senate Majority Leader Harry Reid plans to charge ahead against likely filibusters on two Democratic proposals, one that would extend the soon-to-expire tax cuts for middle-class taxpayers and another that would extend the cuts for those making up to $1 million.”
“House ethics investigators have begun looking into why the House Financial Services Committee, led by Representative Barney Frank, a Newton Democrat, did not fully comply with its promise to turn over all documents pertinent to an investigation of subcommittee chairwoman Maxine Waters, according to congressional staff and other sources close to the inquiry,” the Boston Globe writes.
“House Democratic leaders are considering a vote on the DREAM Act on Wednesday, a senior House Democratic aide said Thursday,” Roll Call writes.
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Seems to me that the strategy should have been to dare the GOP to filibuster by using the argument that use of the filibuster with the looming expiration is an abuse. The GOP would rather have their way, than let an up or down vote. This is not proper use of the filibuster.
There is no proper use for the FAKE FILIBUSTER. It should be ruled UNCONSTITUTIONAL.
Let the republicans filibuster until the end of the year and the tax cuts expire. Then when the new Congress starts and the republicans try to push through a tax break for the wealthy, Harry Reid and the Democrats in the Senate should simply not bring it to the floor and do what the republicans have been doing for the last 2 years. The democrats need to take a firm stand on their principles and priorities. If President Obama doesn't like it he can take a hike (I voted for him but am very disappointed and unlikely to support him again unless he grows a spine).
Stop combining the Bush Tax Cuts for the Rich and the Obama Tax Cuts for the Middle Class. Bush ONLY cut taxes for the rich. Obama ONLY cut taxes for the Middle Class. Got it???
will class warfare never end!
Only when you eliminate classes of people.
Both sides are to blame for the mess our country is in. Both sides need to take a much needed brake from their lives and come live in the real world with all us other little people and see what it's like to try and keep a roof over our families head, food on the table and for our sick family members to be able to afford the medicines they are suppose to be taking. Not one of them on that hill would last more than a week living in the real world!!!!!
Lets be realistic folks, why should we even consider tax cuts for the upper 5%? They do absolutely nothing to benefit the working people with that money - it all goes to their offshore accounts.
Want to stop the debt? Simple, make it illegal (and fine big time) those who send their money to Switzerland or Cayman Island banks, and do the same with people or corporations who move jobs out of the US.
If we seized the Cayman Islands tomorrow, how much capital would fall under our taxation unbrella?
Sounds like a good idea to me, but then, anything that pisses Boehner off is usually a pretty good idea.
They don't care about anyone but themselves
1. The reps campaigned on their ability to cut spending and balance the budget, so they should be required to make good on that pledge.
But, the Bush tax cut for the big U.S. corporations sitting on record profits, approximately $2.3 trillion in reserves, and refusing to re-invest domestically. will add an additional $700 billion to the deficit over a decade.
As for the Democrats, sound investments = deficit hike.
As for the reps, failed tax giveaway = job creation. Cut your spending for our failed spending!
There is no evidence that these tax cuts created even a single job.
Back when Bush was pushing his tax cut packages through Congress in 2001 and 2003, supporters said the cuts (which weren't balanced with spending reductions) would initiate an era in which the American economy would grow so robustly the nation would be running a surplus of more than $5 trillion at the scheduled expiration date. U.S. now runs a deficit of about $1.3 trillion.
In fact, the available evidence is the exact opposite:
Former President Bill Clinton left a record surplus and created 20 million jobs, despite the warning of potential economic disaster over tax increase for the wealthiest.
2. On the one hand they want to provide $700 billion in tax cuts for the wealthiest, but not pay for them. On the other hand they demand that unemployment benefits for the middle class be paid for. It’s kind of like someone on a diet ordering a Diet Coke and a Big Mac simultaneously.
Sen. Claire McCaskill (D-Mo.) said, "I'm trying to figure out how anyone can keep a straight face and say they're for deficit reduction while they insist on a permanent tax cut for the wealthiest Americans, completely unpaid for,"
3. The rich have HAD their tax cuts the whole time, where are those jobs they supposedly are going to create with their extra wealth they have been sitting on?
A business hires the right number of employees to meet demand. Having extra cash does not cause a business to hire, but a business that has a demand for what it does will find the money to hire. Businesses want customers, not tax cuts.
4. The reps & jobs : Are they Pro-business ?
(a). Even when the economy was on the cusp of entire collapse just like Lehman Brothers ahead of the roll-out of stimulus package, it was held hostage by Audacity of Nope, and the time was running out.
Power first then said : Nope ! How do we pay for it ?, Just let him go under exactly like Lehman Brothers.
(b). It is also important to remember a small business bill that was blocked for weeks by a republican filibuster in the Senate.