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Subscribe to RSSThe tax cut compromise making its way through Congress might be winning bipartisan approval, but neither political party is united in supporting the proposal.
While most of the intra-party angst over the measure has focused on infighting Democrats, the deal is also turning into a kind of political Rorschach test for the GOP.
Where some Republican leaders see coveted tax breaks that they believe will push the balance sheets of American businesses back into the black, others are focused on what they see as a big black hole in the nation’s debt.
The latest salvo against the deal came from 2012 GOP candidate-in-waiting Mitt Romney. In a USA Today op-ed, the former Massachusetts governor slammed the deal’s price tag and argued that the temporary nature of the tax cut extensions would aggravate uncertainty in the American economy.
“The deal delivers short-term economic stimulus, and it does so at the very time [President Barack Obama] wants it most, before the 2012 elections,” he wrote. “But the long term health of our great engine of prosperity will remain very much in doubt.”
The announcement from the presumed White House contender puts him in the camp of conservative senators like Sen. Jim DeMint of South Carolina, who was one of five Republican senators to oppose last night’s motion to move the legislation forward. DeMint – who was joined by Sens. Tom Coburn, Jeff Sessions, John Ensign, and retiring moderate George Voinovich in voting against cloture – warned last week that the plan is “going to give a lot of Republicans who just ran for office heartburn.”
Others who have raised objections to the deal include:
- Conservative fiscal-hawk group Club for Growth, which said the deal “would resurrect the death tax, grow government, blow a hole in the deficit with unpaid-for spending, and do so without providing the permanent relief and security our economy needs to finally start hiring and growing again.”
- The Tea Party Patriots, a national grassroots organization dedicated to “constitutionally limited government” and fiscal responsibility. Calling the proposal “problematic,” the group pointed to several tenets of the House Republican “Pledge to America” that it believes the tax cut deal would violate.
- A group of House Republicans, including Reps. Michele Bachmann of Minnesota, Jason Chaffetz of Utah, and Darrell Issa of California. Chaffetz, who may mount a primary challenge against GOP senator Orrin Hatch in 2012, warned in an interview with Politico that the vote on the tax deal is akin to the “TARP and stimulus” measures – which happened to scuttle Hatch’s Utah colleague Bob Bennett's re-election bid at the hands of a Tea Party-aligned candidate. Issa, the House GOP’s lead government watchdog, called the Senate version of the bill “an incomplete effort that fails to create a permanent tax structure giving businesses the kind of long term predictability needed to support investment, economic growth and job creation.”
- Former vice presidential candidate Sarah Palin, who tweeted her concerns: “Obviously Obama is so very, very wrong on the economy & spins GOP tax cut goals; so fiscal conservatives: we expect you to fight for us & America's solvency.”
- *** UPDATE *** Republican Rep. Mike Pence of Indiana said Tuesday afternoon that he will vote against the tax cut package, citing concerns about the deficit. "At the end of the day, I've just come to the conclusion: the American people did not vote for more stimulus," he said on Sean Hannity's radio show. Pence is also discussed as a possible candidate for president in 2012.
By highlighting concerns about the deficit and opposing the deal, Romney and Palin may earn the esteem of Tea Party activists and other fiscal conservatives who echo their worries about America’s long-term fiscal health. But it also places them at odds with a number of other prominent GOP figures and presidential contenders – as well as with Republican congressional leaders and bipartisan majorities of Americans asked about the deal in recent polls.
Other potential 2012 candidates, like Newt Gingrich and Mike Huckabee, have backed the deal. Sen. John Thune of South Dakota, also viewed as likely to jump into the presidential contest, joined over 80 of his Senate colleagues to vote for cloture yesterday – although he has noted that a permanent extension would have been preferable.
“It’s the right thing to do for the country,” Thune said last week. “We need to get this tax rate issue addressed so that we don’t have this massive tax increase occur on Jan. 1.”
*** UPDATE II *** In a speech on the Senate floor Tuesday afternoon, Thune accused opponents of the deal of taking a "politically expedient" position that would result in tax hikes for all Americans.
"Inaction is not an option," he said, without mentioning Romney or other Republican opponents of the deal by name. "And advocating against this proposal is no different than advocating for higher taxes."
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Pass the popcorn please...
You got the crazy crowd & twisted sisters (Palin & Bachmann) objecting to it so it must be a GOOD deal! lol
Everything was fine until the hate merchants on Fox declared that it's another stimulous package and that sent the twits a tweeting! lmao
Well... It's not the popcorn that the problem in Washington it's all the butter they put on it before they shove it down out throat's and we don't get the bill or really understand the cost until the movie is over.
The future Game Changer could very well end up happening next election as more & more TEA PARTY MEMBER are added in Washington.
Vote with us next time, let's get spending under control.
Amen Captain!!
I hope that more Republicans see what the dirty Dems have done to up the spending in the bill - I say don't pass it and wait until January. Bring up the bill again with no earmarks for the Dems and pass it in the dark of night. After all, we need to pass it so we can learn what's in it...right Nancy?
Are you kidding me?
By the time Easter rolls around any one with an IQ higher than a turnip will see they were hoodwinked into jumping on board the crazy train to Beckistan!
If believing otherwise brings you comfort... then by all means... go for it! lol
Since we know MSNBC will not cover this:
"Poll: Majority of Americans say they are worse off than they were two years ago"
"Americans overwhelmingly disapprove of President Obama’s handling of the budget deficit, which 60 percent voicing disapproval and only 31 percent approving of his policy. Respondents also rebuked Obama for his performance creating jobs, with 55 percent disapproving."
http://news.yahoo.com/s/dailycaller/pollmajorityofamericanssaytheyareworseoffthantheyweretwoyearsago
Is it just me, Red, or do an inordinate number of people on here fixate on 'things being shoved down throats'??
Feisty, is it really any different than you believing in the idiot-in-chief's "hope and change?"
It's pretty obvious that those with lower IQs than turnips voted for him in 2008 and now they want their payback before he's kick out of the WH.
What's on your Christmas list?
@drive-by - but I thought that's how the liberals like to do it?
Spare me people, while you bicker amongst yourself about whether the Dem's or Repub's are to blame you continue to deny the reality that our Republic Democracy does not exist anymore, the rich will get their tax cuts, they will be permanent. Come next spring when Congress tells you that Social Security and Medicare will have to be cut because we have no money which party will you blame? Instead of making the worthless rich bastards that ruined this country take a haircut it will be the ever shrinking middle class and poor who take the hit and feel the pain, get over the Dem/Repub farce and start concentrating on how to rid this country of them and their masters, take a look around, you are not in Kansas anymore.
Poll results are funny. One taken not too long ago showed that only 46% knew that the House went from Dem to Rep majority. Unknowing poll respondents can really sway results away from reality.
Start by cutting the waste and fraud from all the entitlements. No more sending money to rebuild other countries - especially the ones who want us all dead.
Secure our borders. Deport all illegals. Fine all employers who hired them int he first place. Bring our troops home. Defund and repeal ObamaCare and start over. Fix Medicare, Medicaid - don't ruin it forever. No more unemployment extentions. Make the unions contribute more towards their perks or lose them. Get rid of Fannie and Freddie. Fed needs to pay back all the SS money they stole, etc. etc. etc.
See, we're saving billions already just thinking about what to do!
Just change the tax code and stop with the stimulus.
The way taxes are working now you would think that the rich paid more than others.
But, not when the government takes almost half of what you make and you only make $50,000.
Make taxes fair across the board just because you make more that does not automatically mean that you have to pay more in taxes.
We have to come to a fair conclusion with taxes in general.
People used to tell me that there are a few things that you can be sure you will do on this planet.
Pay taxes and die.
I don't beleive that I beleive in fairness and if the tax system isn't fair then make it fair because people have a right to choose yes or no in any situation.
They don't have to go along with other citizens of this country and be citizens too if they aren't getting a fair shake.
Make it fair so that people will want to be a part of something great.
Let me reitterate you have a CHOICE poeple.
You can choose to be a part of or not be a part of.
You don't have to do nothing that you don't want to, especially if you're being cheated.
Oh yeah, ya have a great thing going on in this country but, not for me because I'm finding that I have to foot more of the bill than most. So make it fair where we can agree because I don't have to take part in anything that deprives me of a fair opportunity.
JUST SAY NO!!!!
vote dem out- it's not us liberals who are fixated on it. conservatives, pssh, more like closet porn lovers. sorry, didn't mean to shove my thoughts down your throat, but you know you liked it.
Funny you mention that... I've noticed it as well...
Do you think it's wish-full thinking by the freaky family values crowd?
From the number of kids the Palins have - we know Sarah hasn't had anything shoved down her throat in a while! ;0))
W Bush... Amen brother.. you're absolutely right.
And this article talks about the Republicans picking sides??? What's to pick. There's only two choices,: Whatever the Republicans want, and whoever is playing against the Cubs.
Now I just don't know what to believe anymore! When Palin, Bachmann, Sanders and Feingold are on the same side of an issue, it's time to grab the Crown Royal.
Feisty..... I got a big tin of the three-flavored popcorn to share here....
I didn't like this tax break bill from day one saying that adds to the debt and I still don't. When I hear our elected officials giving DETAILS on what has to be cut out of the budget (which is about 40% across the board) while letting the Bush era tax cuts expire, then I will believe that they found religion about fiscal responsibility. If nothing else, extend the unemployment benefits for a bit longer.
There is three trillion dollars sitting on the sidelines.... two being held by corporations, and another trillion being held by the banks. The only thing that is going to get that money off the sidelines is Joe Consumer getting out from under his debt, and not being worried that he is the next in line to lose his job. Neither side has grasped this concept yet.
Piss on supply-side/trickle-down thinking. That fiscal approach along with others is what has helped to get us to this mess over the last thirty years with help from both sides of the aisle. This is a different type of recession, and everyone is trying to use the old tools to fix it.
Popcorn anyone......?
If we're going to vote in ways that address our astronomical debt then let's not forget the lessons learned from (1.) waging an incredibly expensive and erroneous war in Iraq and (2) the effects of uncontrolled banking practices and their deceptive mortgage peddling.
We can't afford the tax cuts. Scrap the bill !!!
Let's get on with cutting the deficit......
Fiesty- People are really tired of your"bash them style". Your ideology and party lost. The game is over for you Obama and Pelosi, PC liberal types. Face it, your breif stint in the sun.................Bombed! They are all gonna go the way of your ex-governor. So grow up and accept the new mantra.............."Glad we Changed"!
i know how we can fix it all. and it's workable for everyone but the defence contractors. do away with the military. keep the nukes and b52s with support. they can stop war. ask japan. use the 825 billion to turn america around. put people to work, man the border, keep social programs going. pay off the deficit. blessed are the peacemakers.
Vote Dem Out!!
"Start by cutting the waste and fraud from all the entitlements. No more sending money to rebuild other countries - especially the ones who want us all dead."
OR....by tearing those countries apart to begin with. ESPECIALLY the ones that had nothing to do with sending harm our way?
Tea baggers got joke on them very late.
Good luck to that. The tea party needs to face reality. It's not really so much an issue of present spending. It's all the money spent that's at issue. Reagan really started the ball rolling with defund and spend, Bush Sr. kept up that mantra, Clinton at least funded spending and started to deflate the deficit but Bush Jr doubled the deficit (without factoring in the real costs of the wars).
I'm all for controlling spending but all the debt out there is gonna come crashing down if we don't properly fund the government. Accuse the Democrats of Tax and Spend all you want. The only Republican motto that seems to fit is Don't Tax and Spend.
Giving the rich another tax break when they are again raking in the big bucks, promising to pay back Social Security in the future, etc. is nothing more than kicking the can down the road and paying off the guys who funded the smear-fest of the midterm elections.
To me it doen't matter from which party you are in. This whole tax crap is way beyond stupid. The Reb's new it & so did Dem's. There was a reason it was written to expire because the R's new we could not afford it any more than this. Since the wealthy long term Rebub's are very rich they want them so they get richer & any poor folk keep gettin poorer. 303billion $ man Boenher,Issa close to 900 billion $ man so forth and so on. This how broken crap is. No one gives a care about the unemployed or the middle class almost being extinct. Obamba is so spinless because he should allowed them to expire. Then try to do a redo. Too bad he did not get this right he could use some lessons on fightin for what you believe in or pack up & head on home.
Can we at least all agree that Sarah Palin should not be quoted on anything unless it's an article on how to be a bad parent or a quitter?
She's a confirmed idiot (many times over) and I am pretty sure she doesn't know what she's talking about when she opens her mouth.
Never, ever again do I want to hear the republicans claim to be the party of "fiscal conservatism".
This isn't a sports event. Won and lost do not apply in the way you are trying to re-write events.
The Republicans took a majority in the House. But there are still Democrats and Independents there. The Democrats still hold a majority in the Senate and they hold the Presidency.
There are lots of Americans who do NOT believe as you do. And we still have a vote.
So get over yourself, stop crowing and start doing something to improve the country.
@pjam09 you missed a couple of points from the article: The Bloomberg survey found that 52% of Americans have a favorable opinion of Obama while only 39% have a favorable opinion of Bush. Also, 70% support taxing Wall Street profits, 67% support means testing for Social Security and 59% were in favor of eliminating the Bush era tax cuts for the wealthiest. Funny how these last three findings fly in the face of the Republican's platform; sounds like the conservatives aren't listening, they won the election and now they will just force their self-centered & economically destructive policies down our throats.
By the way, job growth during the Bush era was the worst in the post-war period (1% growth in non-farm payroll over eight years) and real median household income fell by .6% between 2000 & 2007 (real income for the bottom 20% - poorest - fell my 6% while it increased by 1.6% for the top 20% - wealthiest). Sounds like everyone but the top 20% were worse-off in 2008 than at the beginning of the Bush admin. So much for the argument that the Bush era tax cuts were (and still are) so important for job growth and economic growth; go figure. So glad the Republicans are in power again...hold on, I'm tearing up...
love how msn uses a tabloid pic of romney, you'll never see a bad pic of a dem on here. bias, what bias?
Now the Repugnants are fighting! The Tundra Twinkie still has her head where the sun doesn't shine and the intelligent ones, like Voinovich, are leaving. Where once the Dems had control over dysfuntionality (if Sarah and George can make up words why can't I?) they now are losing even control of that. Could this be the time for a legitimate third party to arrive? Is the Achilles heel of the two-business system about to be pierced by a group more contemporary than an extremist band using a 200+ year old symbol? Let us pray.
If not passed tax rates return to those in 1999 when the country was booming! Right? So, what's the problem?
Uh yeh, this deal is just to keep cuts from expiring right now. A comprehensive reform of the tax code can't be done that quickly, but rather in the next two years as Obama suggests. And knowing that the cuts will expire is motivation to do it. Demands to make anything permanent now are completely insane. But what else could be expected of these far-right conservatives?
Feisty Fool- Why don't you get a job and get off line with your same old everyday hate and lies. Your statements have NO value whatsoever!
W Bush, nice feigned independence there between Dems and Reps like you don't care, then you take the Democrat line the rest of the paragraph, "the rich will get their tax cut" aka leftwing translation of everyone getting their tax cut extended, "Medicare and Social Security will have to be cut" the usual leftwing paranoia that their out-of-control bloated and disastrous failure welfare state might get trimmed a little, and "the rich b------- that got us into this".
Thanks for your objectivity on this, it was real believable and honorable for you to tell everyone else to rise above the partisan bickering. Clearly, you are no particular side.
This deal is full of crap, this is another back door deal. This is not what tea parties ask for, there millions of dollars in pork, this is an insult to Americans. This is not a tax deal this is not a conservative bill.
So Feisty, did I understand right, that you thought the tax deal was horrible until a handful of republicans decided they are against it so now you think it's a great idea? Must be that "change with the wind" policy decision making that makes you a democrat. Thanks for helping me finally figure that one out.
Do I like everything about the tax deal, hell no. Do I think that adding more to the deficit is a good idea, double hell no, but the reason I will ultimately support this deal is that I believe keeping more money in the hands of the people who earn it is the only thing that's going to push the economy along toward recovery. Congress has demonstrated time and time again that they will not be responsible with OUR money. If we give them more in taxes, they will double or triple that amount in spending rather than use it to pay down debt. And when fewer people have disposable income, demand is depressed even more than it is now. We cannot afford that more than we cannot afford a few extra bucks from the wealthy right now. I would be more likely to be on board if the bottom of the highest tax bracket hadn't been reduced by nearly 50% from it's Clinton era level- that will hurt far more people than the left is willing to admit and when they hurt, they will cut spending and jobs that are currently hanging by a thread will disappear. Frankly I'd have been more inclined to support the proposal that only raised taxes on those earning more than $1mil a year. Still won't like it but if you want to talk about raising taxes on the wealthy, lets make sure the group is truly wealthy- $250k is not in many areas. Comfortable, yes, well off even, but not rich.
Cut spending, prove you have the ability to live within your means, rewrite the tax code so everyone is paying a fair share (no more checks to those whose liability is zero, no more loopholes only the wealthy can take advantage of, etc) and then we can talk about whether rates need to be higher or not. Until then lets focus on getting more back to work so we can grow our tax base.
We need spending cuts . Govt gets bigger an bigger and the tax base gets smaller.
Wake up Tea Party leaders! Adding almost one billion to our debt is not conservative. You said we are in a fiscal crisis! Help everyone and not just get more millions for millionaires! If the Tea Party does not stop this Republican raid on our Treasury the movement has already failed!
I was against this tax deal, and Palin, the Tea Party, and Bachman are against it. As a result, I'm not sure anymore.
Not that I necessarily disagree, but how did the party of former Presidential candidate Al Gore earn the right to call anyone including Sarah Palin a "confirmed idiot" except to say that it takes one to know one?
The tax cuts should not be extended for the wealthiest 2%. The top 1% of our country controls 90% of the wealth. Whatever you might think of stimulus or budget deficits - the picture that the top 1% controls 90% of the wealth should be unsettling.
Think about that long and hard before you talk about shoving something down someones throat or being tired of having something shoved down yours.
This is not the land of the free with opportunity for all when the top 1% control 90% of the wealth. Think about that. Where else do you find that kind of income disparity? This is not what we want for the US. The current structure has been in place for 10 years and it didn't result in job growth. It resulted in wealth concentration.
i dont see the so called tea party voicing their opposition to this spending bill, y did people vote for the teaparty? they are so quiet now that they have been elected, all the bennies will do that i guess , they conned you to vote for them now they are starting to enjoy the good life that 98% of americans will never know, theres a sucker born every minute, right teaparty people, fools
I'm waiting to see what they do in January, once they are sworn in. The Dems are still running the show. No wonder it's a cluster@!$%#.
they're going through lobbyist indoctrination 101
The Tea Party platform is simple -- cut taxes for the rich and screw the poor. Isn't that what Jesus said right after the Sermon on the Mount?
Your an idiot! They have opposed it from the start but I guess you only hear what you want
Seems like everyone is using this vote to spout off. They all know it is going to pass. It has too for obvious reasons. The Democrats could have had this all taken care of before now but sat on thier tushes . the republicans are using it to attempt to show they want a balanced budget or what ever. So many on both sides feel this is thier best chance at winning votes two years from now so they are being vocal to make headlines. It all means absolutly nothing in reality. they will be sure to pass this bill no matter how angry they all try to appear to the public. Not passing it would be political suicide for both parties at this stage of the game. I find all the retoric amusing.
And even though they are NOT in office yet, they can still VOICE their opinions. It never stopped them the last 2 years, why silent now? Because they don't care. As long as they KNOW they will get all these Benefits, they are not going to say a word. All Federal Employees should have to pay like the other 98% of Americans pay for everything. EVEN CONGRESS. They are SOOOOOO overpaid it's sickening. VOTE ALL OF THEM OUT.
uhhh, as was pointed out already, the recently elected officials don't take office until January 1, 2011. BUT you knew that right - because you're just not spouting off on an emotional tangent of baseless facts...or did you? Go read a little about the our system of government before you make a statement that...well made you look not so bright. Cheers.
I agree with you completely Avenger...except all the rhetoric is really just pissing me off at this point. Or at least the affect the rhetoric has on the American people who have no idea what the crap is going on so all they hear is the BS rhetoric.
Wake up Tea Party leaders! Adding almost one billion to our debt is not conservative. You said we are in a fiscal crisis! Help everyone and not just get more millions for millionaires! If the Tea Party does not stop this Republican giveaway the movement has already failed and we are doomed!
Re-Post Compliments of the Collapse Cowards... when are you constitution loving frauds going to learn that attempting to silence me also silences your side as well?
Grow UP for cryin out loud!
Feisty Redhead Roselle, IL Comment collapsed by the community
Pass the popcorn please...
You got the crazy crowd & twisted sisters (Palin & Bachmann) objecting to it so it must be a GOOD deal! lol
Everything was fine until the hate merchants on Fox declared that it's another stimulous package and that sent the twits a tweeting! lmao
Feisty Redhead Roselle, IL
Are you kidding me?
By the time Easter rolls around any one with an IQ higher than a turnip will see they were hoodwinked into jumping on board the crazy train to Beckistan!
If believing otherwise brings you comfort... then by all means... go for it! lol
What part of the word "COMPROMISE" do people not understand...Of course each party didn't get everything they wanted, that's what they call "CONCESSIONS"...This is part of every "NEGOTIATION"....This ridiculous political analysis and psycho babble is getting very tiresome.
I do not think letting the tax breaks expire would harm the economy. Huge deficits do harm the economy because the government competes in the bond market with the private sector and we all have to pay down the debt with interest every day.
Trust me...the tea party movement is just BEGINNING! Party is live and well....
The government spends money like there's no tomorrow, and most of you spew venomous attacks on the opposite party. Simplify the tax code so a layperson can read and understand it, I know the tax attorneys will lose their jobs, too bad. As long as the majority of our law makers are lawyers we will have crappy laws.
What is the Tea Party? All I see is a bunch of Republicons with their pinky fingers stuck out, sipping on a cup of greed!
What's so difficult about this? I'm sure there are some things I've missed but they too can be worked out.
Fiesty, you're complaining now about being collapsed? What about Vote Dem out above as well as forrest oak! Both sides do this so don't try to make it seem the right only does it to the left. You know full well this happens on here from both sides. What you should be doing is asking the Newvine moderators where have they gone and why are they not restoring these improperly collapsed comments.
Dems don't like that, that would be FAIR! They like to play Robbin da Hood. That way they can feel benevolent without taking out their wallet.
Don't worry about it Harryo----- You just stick with your democratic parasitical paty, we'll take care of ourselves.
You have a lot of problems of your own, in case you have already forgotten about taking the worst election butt kicking in 70 years.
The republicans campaigned on repealing the insurance farce, cutting spending and opposing Obama, every conservative that voted for this bill has already received an e-mail pointing out to them, we removed a lot of republican incumbents, that tired to tell us one thing then did another
We are still here, we are still watching, we will remember and we will be waiting for them in the primaries.
Others who have raised objections to the deal include:
It's not the bennies... it's the fact that there are 90 other folks in the Senate with whom the Tea Baggers must do business and COMPROMISE is the operational word here. Trust me, you wouldn't want it any other way, unless you happen to enjoy living under a Fascist or Theocratic government where it's see it our way or you are DEAD.
When are you people going to realize it is not about the poor or the middleclass or the rich the politicans good give a rats ass about that and you .It is all about their egos the votes and the kick backs from the lobbiest and halaburtin
HarryO: the reason why the Tea Party candidates that won the Nov election are quiet in the news about this is because they cannot vote on this issue at this time. Remember we are in a lame duck Congress session and the new Congressmen will not be sworn into office until January. More important than the stance that the existing voting members of Congress are taking on this tax deal is the budget that the Senate and House are trying to push forward which is 1.2 trillion for FY 2011. It is full of earmarks and perks for Democratic states and the GOP must fight this battle. If they allow the 2 year tax cut to go through, in January they can start to work on getting these cuts permanent. Also remember the statements that Obama made regarding the deal he cut with the GOP - he said he hated the deal but had no choice but to concede since they (the GOP) were holding the American people hostage. He should have been careful during his press conference when he announced this because it will come back and bite him during the 2012 election. The US can not afford a 1.2 trillion dollar budget for 1 year!
jacaf19: No that is not what the Tea Party is about...wake up and see what the Dems have been force feeding you! If you take a look at the top 10% of wage earners - they are already paying 70% of the revenue collected in taxes. Since when is anyone who makes over $250k rich? They may be better off than some. In Obama's tax plan anyone who makes over $250k is to be taxed at the higher bracket. Besides, when you talk about the poor, are you talking about the people who are at or below the poverty level? Or are you talking about people who just can't buy whatever they want because they don't make the income? Everyone in this country has the opportunity to better themselves...it just depends on whether you take advantage of the opportunity or if you expect someone else to work their butt off to support you!
The Tea Party was vocal because it was infused with cash in the run-up to the elections.
Cash that was spent by the large corporations in an attempt to hamstring the restructuring of the economy that follows every large recession.
That money has since been withdrawn because the outcome they wanted has been bought and paid for, an incoming congress that will insure it's almost impossible to get anything related to the economy or regulations through.
And that's how they maintain the status quo, ensuring that the regulatory problems that brought america to it's knees will not be fixed.
@harryo-2018884:
After getting fed up with the pap being fed to us by both the democrats and the republicans, I joined the Tea Party. Both major parties have been leading the country to the brink of bankruptcy with bloated federal government agencies (like education, transportation, and health/welfare) who do little except put bureaucratic roadblocks in front of anybody who tries to get something done. The Feds fail to enforce existing immigration laws, had over 30 agencies supposed to be monitoring off-shore oil drilling (and they weren't) and nobody is ever held responsible when these agencies are found ineffective. I could rant on but I hope you get my point.
I voted selectively for candidates in November that could produce the following results:
If the new House and Senate in 2011 do just a part of the above, it will be a good start. Of course, they will have to do it while bucking Obama the entire way. He is determined to destroy this country according to the plan of George Soros and other socialists.
Fiesty, Shut your front door so the rest of the Area will warm up!
All of these tax cuts should expire, unless someone can find $400 Billion over each of the next ten years to pay for them.
Forrestoak,
Tax cuts? Where are they cutting any taxes, these are just extensions without any cuts. Perhaps you should call this tax continuations with massive of Democrat/Republican "pork" added to the bill. The last hurrah of the Progressive Party to increase the debt prior to leaving control.
I agree with you, truetz. Let them all expire so those who are still working and the wealthy can help get the defecit reduced. Those who are still drawing a paycheck are the only ones who can get the defecit under control. Those who are unfortunate enough to be out of work need to receive unemployment to keep themselves and keep our businesses going. Why is it that those who are lucky enough to still have an income insist that everyone else must pay the taxes needed to help get out of the depression (yes, Depression, not recession)? It's unrealistic. So, why insist on the proven failure of trickle-down economics? You are deluding yourself if you don't think that taxes and fiscal accountability are the only way out of this mess. And yet, it seems our elected officials think want tax breaks for everyone and they fight against any kind of legislation for fiscal accountability. It's moronic. Yes, I receive a paycheck, and I don't want a tax cut so that I can help those fellow countrymen who are less fortunate than I and also help my country get out of this mess.
They are rates and they should revert back. No jobs have been being created and unless a miracle happens, none will be again. The Republicans started this mess of a compromise by stating they would do nothing until the rates were addressed and with the top 2% getting theirs also. Granted tit for tat isn't a good way to handle any of this, but being bull dozed should not be an option either. Cry on Mr. Boehner.
I think our whole tax code should be thrown out. Then tax everyone and every business at a flat rate with no loopholes, no earn income credit, no deductions, etc. (just a simple flat rate tax). We are being taxed over and over again. ie sales tax, sin tax, highway tax, gas tax, tax, tax. We shouldn't have to have professionals to do our taxes if our government would get their heads out of their... and work for America WE could solve this problem. And I still believe a long as we have a deficit our current and former reps. in D.C. (including the current and former presidents and their families) should not receive a salary or benefits. The first cuts made should be all Federal Employees from the very top down to the lowest level (except for our troops who are in harms way).
The cost of these tax cuts, if renewed is $900 Billion, not 400.
Teedoffon1,
You just (inadvertently) showed exactly why an accross the board cut never happens. DO you know what it looks like for an elected official to go in front of their consituants and say "I just cut Defense Spending by $2Trillion over 20 years" ? Nobody ever wants to touch that. And we spend 100x everyone else in the world combined. Its a complete joke.
make it a big bucket of popcorn. i love it how these repubs want to help millionaires and billionaires but dont give a rat's behind about the common american. good grief
CaliKid
You realize that the majority of the benefits of this bill are for the group you call the "common american" whatever that means.
I earn well under $250K but in no way feel that I am common anything
Robert, I think CaliKid is alluding to the fact that the Repubs would have voted against just the "middle class" extension unless they got an all or nothing deal. Anyway, this is the best thing to happen to the Obama administration, since the butt kicking in Nov. My mother (God rest her soul) always say, be careful what you ask for, because you might just get it. Well, this could be the Repubs albatross if things goes south again.
btw: Robert Hi from Ohio as well. Is it cold enough for ya? :)
whatever happened to...
Tax rates have never been static or abusively applied/denied to any one group. Spare me your contrived exceptions regarding rich vs poor as the government will willingly accept payments in excess of what they say is legally due and that many people chose to pursue wealth and many chose to "just get by"
We and our ancestors elected the politicians that created the myriad of tax laws that have gone into effect since circa 1913.
Point all the fingers you want, but until our current tax laws are radically simplified it will always be an "us vs them" conflict. It also wouldn't hurt for the American populace to realize that barring really serious mental or physical handicaps anyone can pursue a standard of living in line with their life goals of acheivment. We all have had (or will have) our "woulda, coulda, shouda" moments.
I don't see one commet here about cutting government spending, Think about it ,that is what got us into this mess to begin wiith. Giving the government yey more to spend is not the answer
This reminds me a little kids expression that just learned basics of math. You can't balance a budget or lower the deficit by giving tax cuts to everyone and maintain current spending levels. GOP was successful at underfunding Social Security, which means the demise of a successful program that all but the fifthly rely.
forrestoak: We, the American people fund Social Security. Those in Washington haven't been very good stewards of our money. They have spent it.
Forrestoak: How can you say the tax cuts work to stimulate the economy and tremendous job growth. Bush holds the record for the worse job creation of any president before him.
http://blogs.wsj.com/economics/2009/01/09/bush-on-jobs-the-worst-track-record-on-record/tab/article/
people also tend to overlook factors that were outside of Bush's control that cost man many jobs. The fact that we not only recovered what was lost but made some positive gains on top should be a good thing. But that doesn't fit with the blame Bush mentality so we ignore things like the .com bubble bursting, 9/11's direct and indirect impact on the job market, the housing bubble and even Katrina and Ike.
The housing blowout was because Bush de-regulated and did not keep an eye on things. More de-regulation under him than anyone.
This recession is because of Bush, and the filthy rich went from $8 Trillion upwards to $60 Trillion in worth due to the Bush Tax Cuts. Whatever jobs came out of it...it was not because of Bush. The economy was doing well under Clinton with surplus in the budget. Bush blew it all on the rich, on 2 needless wars, and corporate greed with majority of skilled jobs going overseas. How's that for Bush legacy?
Tony, I hate burst your bubble, but....if you review the history of the Social Security you will find that there was at one time a surplus and it was the Democrats who voted to use the surplus that was to be put into trust to lower their deficits. Also, if you review the history you will find that almost any time that any Congressional action was taken to revise SS, it was the Dems who did it to further help out with their redistributing the wealth. Republicans will take the blame if it fits. Also, if you look at the recent past....it was the existing Dem Congress who decided to reduce the taxpayer's portion of SS in order to stimulate the economy. On top of that, it was the segment of the population who pay no taxes that were awarded the stimulus checks under this administration. I a so sick of people crying poor mouth when most of them have never worked. The people who have my sympathy are the ones who have lost their jobs due to this economy.
one more thing , hey american people out there let me ask you a question why do you care about richpeople being taxed? i dont get it , these so called bush tax cuts have been on the books for 9 years 9 years 9 years, why havent the rich provided us with jobs, 9 years later, are you the american public stupid or what? too busy i guess watching sarah"the quitter"palin play make believe on tv, make her richer lol
i agree harryo... the american electorate sure needs to catch a clue. we voted in all these repubs on november 2nd, and for the unemployed and underemployed and middle class, that's like cutting off your nose to spite your face.
harry o
A lot of hate there, but little argument
How many more jobs would have been lost if the business owners (I believe you call them the rich) would have been taxed more and even less willing to invest in their businesses.
How many more jobs would have been sent overseas.
Not sure you or anyone else can answer those questions.
The CB says that extending these tax rates will have a positive effect of approximately 1% on GDP growth in 2011 and create at least 1.5 million jobs. Not the total answer but a start,
This compromise helps everyone and gives the two sides a place to start from for further compromises on tax code changes and spending cuts
Can't you see the value in that
robert, save it. these tax rates have been in place for almost 10 years, and the jobs are where ??? certainly not in ohio. and now we're trillions and trillions in debt. secondly, not ALL business owners are millionaires so stop comparing apples and oranges. raising the tax rate for top earners from 36% to 39% ( back to the rate when clinton was in office ) would have been just fine. .. and forrestoak, we've had more private sector job creation in obama's two years than bush had in his 8 .. do some research !
From Bloomberg BusinessWeek-
"Between May 1999 and May 2009, employment in the private sector sector only rose by 1.1%, by far the lowest 10-year increase in the post-depression period.
It’s impossible to overstate how bad this is. Basically speaking, the private sector job machine has almost completely stalled over the past ten years."
I guess it's just a question of what were those jobs and who paid for them?
This from The Center on Budget and Policy Priorities-
"Congressional Budget Office data show that the tax cuts have been the single largest contributor to the reemergence of substantial budget deficits in recent years. Legislation enacted since 2001 added about $3.0 trillion to deficits between 2001 and 2007, with nearly half of this deterioration in the budget due to the tax cuts (about a third was due to increases in security spending, and about a sixth to increases in domestic spending). Yet the President and some Congressional leaders decline to acknowledge the tax cuts’ role in the nation’s budget problems, falling back instead on the discredited nostrum that tax cuts “pay for themselves.”"
http://www.cbpp.org/cms/?fa=view&id=692
CaliKid
I am sure that you have it all figured out, but are you sure that the job losses over the course of the past ten years doesn't have anything to do with the incresingly anti-business atmosphere including tax code uncertainty, the tightening of lending, the over regulation of business by government and don;t forget the health care act that is certainly not helping now.
The tax rates that the DEmocrats didn't wnt to extend were for less then $250K and then for less then $1M both of bands which do include small business owners.
If jobs are not going to be created by business owners, can you enlighten me as to who will create those jobs?
The last two years of Bush's administration when job koss was growing was under the control of a Democrat Congress as well.
I am well aware of the debt and deficit (as are politicians on the right). You (and others on the left) conveniently forget that while extending the tax rates for earners over $250K would cost $700 Billion over ten years that extending the rates for earners under $250K would add $3.3 Trillion to the deficit.
If we can't afford $700 Billion then you should agree that we cannot afford $3.3 Trillion
If raising the tax rates back to the Clinton level for some would increase revenue then rasing all tax rates back to the Clinton era levels would help even more.
SO don't talk to me about apples and oranges
We need to weather this crisis and then we need comprehensive tax code changes at all income levels, elimination of deductions at all income levels and drastic spending cuts in all areas including government structure and programs and defense.
This compromise sets the stage for the parties to work together in the future to get Americas back on track
Save the ideological rehtoric and become part of the solution rather then cursing the rain.
R in OH wrote: The tax rates that the DEmocrats didn't wnt to extend were for less then $250K and then for less then $1M both of bands which do include small business owners.
Actually, "small business" is not the "mom and pop" or small company that most think of, it includes corporations that have up to 500 employees and over $11.5 Million in annual revenue.
If jobs are not going to be created by business owners, can you enlighten me as to who will create those jobs?
Giving a tax break to the rich and/or small business so they can hire employees is a joke and hasn't worked for years now. If the majority cannot afford to purchase goods/services, why would an employer hire someone to produce those goods/services?
It amazes me how literal people are when talking about job creation. It's not just about opening a business and hiring people, folks, it's also about demand for existing goods and services. Tourism, for example, relies on people with disposable income to keep afloat. Right now, the higher earners are the ones with the disposable income to spend on vacations- take money away from them and how many more jobs go away? Airline jobs, hotel jobs, restaurant jobs, the whole enchilada. I'm not talking about the Warren Buffet types, I'm talking the computer geek in California who lives comfortably but who many want to see get hit with a couple of vacations worth of additional taxes- that's money that doesn't go into the economy to keep people employed and without that, we don't get increased demand and a need to hire. And lets not be too literal with the example either- this is the effect on the specialty retailer who will see it's customer base shrink, the lawn service who loses half it's business because folks decide they can mow their own lawns for a lot less, you name it. We need people with disposable income to spend. And since our elected officials ignored the elephant in the room until there were only 45 days left in the year to deal with it, we now face a situation where either we pass the extension for all or we all get hit with a big increase. I've done the math- low income earners are looking at up to $850/year, middle income earners over $2000. That's a big chunk from the monthly budget folks. WE aren't going to grow the economy when the only money in one's paycheck goes to necessary spending only.
HARRYO---------- I'm not rich, have no worries about having enough left after I die that the government will taked estate taxes.
It's called having integrity and morals Harry, if it belongs to some one it's theirs.
I'm not sure why you leeches think you have a right to something that belongs to some one else..
I wonder if you have ever thought about what that post says about you?
What your post said Harrry was if it doesn't hurt me, it's okay to steal.
Now that I think about it, that sounds right, that is apparently, the libby credo.
I would think think Obama would at least pass laws requiring you people to tattoo "libby" on your forehead, so that honest people can get their hand on their wallet, when they see you folks coming.
BWD was kind enough to bring this to our attention for those of us who quite frankly gave up on Huffington Post with their ridiculous misleading headlines a long long long time ago- Written by Beth Broderick
I cannot imagine a worse job than being President of these Untied States in these most trying of times. President Barack Obama has been under siege from every side for the entirety of his time in office. The poor guy just cannot do anything right. Passing health care legislation, wrestling 25 billion out of BP, turning around the auto industry and his many other accomplishments are simply ignored. The good is simply not good enough. In spite of his many courageous acts the common wisdom prevails that he is not tough, not all up in the Kool-Aid of the opposition. A notion complicated by the fact that those who oppose him are often on his home team.
Not tough enough? The guy is made of steel. Governing this wild kingdom of a nation is like a never ending episode of Survivor. Every week we send our leader into a shark tank with a bucket of bloody mackerel around his neck. Then when by some miracle he manages to come back alive with enough fish to feed the team we scream: "What? No tuna? No orange roughy?" "Is that the best you can do"? We moan, we wail, we shake our fists!! "Should a gave those sharks a what for!!" We cry. Then we bait him up again and send him back into the tank.
The recent hand wringing over the temporary tax cut deal is a true case in point. The president does not preside over only like minded citizens. He must govern for us all. I agree with Bernie Sanders on principle, but I applaud the president's deft avoidance of a show down in crazy town. A whole lot of folks most pointedly do not agree with Mr. Sanders or with me for that matter as the last election made exceedingly clear. Obama saved the bacon of the unemployed, assured tax credits for children and college students and prevented the middle class from receiving a bill for 3,000.00 on January 1. We seem to think that he has some kind of magic wand that he is refusing to wave. There just simply is no such thing. He is the president not the King and God help him. Really I mean that, God ... please help him.
The seeming horror of holding the highest office in the land makes me wonder what all this jealousy is about among the members of the Senate. Those little green men (and a few women) who are the true hobgoblins of our eternal gridlock. Poor John McCain has been so eaten up with jealousy that he has shrunk to near invisibility. If a Senator shouts in the woods ... and no one hears him ... is he still a Senator? Much of the argument about the issue should be taken up with Cantwell or Murray or Baucus those who clamor for permanent estate tax cuts. There were 12 Democrat Senators prepared to vote against you and me and our dear determined Bernie if the president had not made this deal. The ground shifts under that chamber so relentlessly that it is a wonder some of the older members have not taken a tumble down the aisle. Mr. Schumer is a smart smart guy, but he holds only one perspective while Obama must behold them all.
One of my biggest complaints (and there were so very many) about the Bush administration was that he seemed to care not a whit about those on the left side of the electorate. He did not seem to be my president. He did not hear my voice or care about my values and it hurt my damned feelings. It also demonstrably hurt the country.
I hear a constant refrain about Republicans. It is argued that they are pure and always get their way due to an admirable lock step in their party gait. The Republicans are finger pointers not problem solvers and I do not envy their approach to politics. The fact is they did not do much governing last time around. They did plenty of war starting and marriage defending, but, very little actual governing. There is a reason for that. Governing this nation is hard and truly thankless, but it needs doing. I most certainly do not want Democrats to start acting like Republicans. I absolutely never want to see Mr. Obama acting like Mr. Bush and if you do then I respectfully suggest that you go back on your meds.
I have great hopes for this president and for the future of this country. I am grateful to Bill Clinton, a man I have had my issues with, for stepping up and having Obama's back this week. It is something we are all going to need to do if we want progressive values to prevail in the end. We need to surrender this idea that political purity is the highest value. Good governance should be the goal. The problem with political purity is that it leads to purging on both sides of the equation. Can we really survive wave election after wave election without achieving the tiniest ripple of consensus? The notion that we lost in 2010 because the White House did not tack far enough to the left is simply unfounded. A struggling economy was not helpful, but every election is ours to lose and we lost because we did not support our team. Turnout among Democrats was terrible especially by the young and newly registered, the very folks whose future depends on the success of this president.
If we turn into the latte version of the Tea party threatening censure of all but the most purely progressive, this country will continue to be torn apart. Let's leave the wringing and the rancor to the Republicans. We are not a party known for its unity, but we are united in our desire to work for the common good and to bend the will of history toward justice. President Obama is not perfect nor is he a purist, but he is on our side. I for one intend to stand by his efforts on this mission near impossible. It is a tough job, but somebody's got to do it and so I pray may God bless him. Really, God please bless him, because God knows he is going to need it. And he is going to need us.
Wow, pull your head out for some air once in a while, huh?
Great Post Pat!
What's the matter VTO? It wasn't double spaced and contained no pictures so it's too difficult for you to follow along? lol
No, it was filled with bull@!$%#. Feisty must be Chris Matthews in drag.
Made of steel? LOL! That's the funniest thing I've ever heard! LOL!
I've got mistletoe hanging from my back pocket for you libbies!
Watch put VTO Fiesty can swing em with the best. And she cares not where they land.
I do not fear Feisty - he/she is only good for the laughs!
But thanks for the warning!
Don't pick on Feisty, This is her entire life. This and a couple of cats.
Why thank you LittleJoePeep... I didn't know you were a fan! lol
Oh Edward... I never took you for a Peeping Tom! lol
Fiesty, you are always good for a laugh. I wouldn't classify you as my fan, just someone who has lost her way through life.
Meeeowww
Aw, Feisty- just join the club and enjoy it. Hell, yesterday my EX girlfriend latched onto a Steve somebody, and they called me a fat-between-the-ears guy.
Now I'm all John Boner-ey.... Boo Hoo Hoo Hoo ...sob....sob...blubber.....now, where did I set that burbon....boo hoo....
I saw that... Up until that comment, I thought the large mouth a@@ was fishing for a threesome or something!
Eeewwww......Gag me with a shovel!
Sorry DBO.... didn't mean for you to throw up a little in your mouth! lol
Pat - Very good post.
mrs forrest your the fool
Everytime I see "John Thune" and "presidential" in the same sentence, I die a little inside.
Good. He must be a great president candidate for 2012 then! I'll have to do my homework.
Yeah, great. He whines about cutting government spending and handouts while at the same time supporting farm subsidies for wealthy farmers and ranchers for not growing any food; he blames Democrats for earmarks and pork while requesting billions of dollars for pet projects in his home state; he says he believes in state's rights and a small federal government, but then writes President Obama a letter begging for more federal help and stimulus dollars for South Dakota; he claims to be "pro-life" but has voted against every proposal to improve health and quality of life of American citizens.
In other words, he's a typical Republican; you'd probably like him.
Really V D O .. you do homework? .. that amounts to what, you turning on faux news and writing down every little thing glen beck says? ..
Yes, do my homework - that would be a new concept for you, so I can see why you don't understand that. I did my homework with Obama. And yes, Fox, Beck are right on the money most of the time.
Do you have a problem with me not listening to Maddow and Olberdouche?
quite frankly, v d o, you can listen to whomever you want to. stupid is as stupid does and you top that list.
calikid - how elitist of you in post 11.3 & 11.5. Please tell us if your eyes cross when you look down your nose at us "po' folk"
harryo -- you do realize that just about all the newly elected folks are not in power till the 1st week of January - right?
What's another Trillion in debt? Let your grandchildren worry about it.
It seems to be the Democratic motto these days - along with the donkey's ass as their mascot.
How is that the Democratic motto? This tax deal adds much more to the debt thanks to the Republicans.
 e
When this bill goes to the house I would not change a damn thing because it is a bill Obama agreed to and if it fails the you only have the Democrats to blame.
True, but the Republicans said they would ban all earmarks. I think they need to ban not only their own, but the Dems as well. Especially since most of them are gone in January anyway.
They need to change the law where there is no more lame duck sessions where they can pass bad policies before they take a hike. Let's get on with business and let the adults take charge of this in January. I think the lamer than lame ducks need to go home NOW.
They need to change the law where there is no more lame duck sessions where they can pass bad policies before they take a hike.
Republicans used the lame duck to to impeach President Clinton...
Romney calls the cost outrageous, but then says it should be permanent.
I grew to expect him to flip flop, but never thought he would argue with himself in an op-ed.
It's all about the pork the Dems are putting into it. Costs too much and it's not paid for. I thought that's why they passed the Pay Go bill anyway? Figures they don't even follow their own rules.
Vote Dem Out, do you realize how pathetic and un-informed your posts are?
Have a Merry Christmas w bush!!
yes, he does w bush... his posts are beyond un-informed... but hey, he sure is funny.
....And he doesn't like cats, it seems.
You have to pick a side? I thought tax cuts were fiscally responsible. I thought that cutting revenue, causes an increase in revenue. Don't tell me now that trickle down economics is a sham. Less is more, tweak the supply and demand will respond accordingly Reagan proved that. It is adding to the debt that reduces debt, if you want to improve the spending power of the lower 98%, you lavish wealth on the top 2%. How can this kind of reasoning leave anybody feeling conflicted.
It makes complete sense. All we have to do is make effective rates zero and then the Federal government will be permanently downsized. Then jobs will be created to replace the government with private contractors.
After all, private business should determine how we fight wars, how much arsenic is safe for water, and how much fecal matter should be in our food.
They're looking out for us right?
You are wrong on every count. The middle class has lost income over the last 30 years, that is a fact, no economist disputes, and the middle class has more debt than ever. Big corporations still headquarter here because the tax rates mean little, after the loopholes and subsidies many pay no taxes. Our corporations go overseas for dirt cheap labor and little or no regulations with regard to safety or environment. They don't go to China for corporate tax reasons they go for 25 cent an hour wages, no regulations, and no red tape if you kill or maim someone. When the CEO's move their families to China, to save on taxes let me know. They pay foreign taxes, on top of US tax liabilities, because the slave wages make double taxation worth it. How can you beleive workers are better off today when millions upon millions are out of work, and the ones still empoyed are working harder and harder for less and less. The sad fact is that because of trickle down economics, our children will not have the standard of living we have had. At this rate they won't even have healthcare, or social security, they will rely on their fat savings account built up from those great paying jobs at Wal-mart.
i haven't lost income for the last 30 years but we make chooses everyday.
Hey forrest oak that number is skewed because the billionaires are now making 3 billion a year as oppossed to say 500 million a year in 1980 there the only ones whose income has risen significantly with inflation
The Bush tax cuts should only be instituted for those making less than 250K since these are the people most likely to use the savings on day to day items (food, gas, etc.). Maintaining these breaks for wealthy does absolutely nothing to stimulate the economy since all they will do is deposit it into banks accounts or buy stocks from overseas companies (BRIC nations) since that is where the economic growth is going to occur for the next half year or so. The wealthy have been getting wealthier while the middle class has been financially hamstrung... not good for ANYONE since the middle class accounts for 70% of the economy. Mitt Romney is an partisan hack playing politics with the long term viability of this country. Both parties need to be separated from their financial ties to corp and union america in order to actually do something good for this country and not for their campaign coffers. TO YOU DEFICIT HAWKS who support this extension... go suck a rotten egg.
I agree with you everyone in this country is stimulates the economy, but the tax cuts would go up from 36% to 39% (as it was in Clinton times), its not 45% its 95% its not like it was Roosvelt times. What is wrong with you people?
The middle class spend their money on things that increase the profitability of businesses. If business can end up with an increased bottom line without producing any more, why would they hire anyone?
Clutcheson you have a point. forestoak, why can't the elected tea party talk about this before they take office. I guess the Republicans asked them to shut up. Bet they wish they could ask that of Palin as well. Tea party canidates wont change the Republicans at all. So, to bad for those who voted for the tea party hoping for change
Yes the tea party might be upset but since this guts their primary principle for being why aren't they up in arms and protesting in the streets as for the health reform?? Maybe it's because the Koch brothers and Dick Armey aren't giving them buses and providing them with nice slogans.... This shows what a blip the tea party might be....
For once the Tea Party is right. The Republicans are going against their pledge to America. They wanted to control the debt. But in this bill its okay to add to the debt if it gives the rich a tax break. And they have to nerve to insult the American people by saying it's a tax break for small business. If they want a tax break for small business, write it as such. If income is from a Sub-chapter "S"corp. or any corporation will a gross revenue justified as small business, then they get the tax cut. Not people making 10 million dollars a year.
The Republicans have created a debt of 10 trillion dollars giving tax breaks to the rich. ENOUGH!
George the Witless even had the nerve to eliminate inheritance tax on billionaires for a year.
Oh, I'm sooo glad we heard Sarah's take on this important economic issue! She is such an expert is fiscal matters!
Super brainiac.. for sure..
Sarah is just trying to hold on to her dear political life right now. What a bitch on a loose.
Shes happy and she has money......Emma do I sense a little jealousy? She has no political life at this point. But she sure drives you liberals up a wall while basically doing nothing.
And from that point on, they will be the Obama Tax Cuts for the wealthy
The tax bill as written by the Senate will pass, because politicians don't have the guts to do what is right. I agree the current tax law should be extended, and the unemployment insurance extended. Those are the only two items that should be in the bill. All the tax credits that are being extended should be deleted such as: Katrina tax credits; mass transit credits; credits for energy efficient appliances; credits for 1st time home buyers in the DC area; ethanol tax credits; and investments in American Somoa, and any others not directly related to unemployment and the Bush tax cuts. This bill is so over loaded with pork that even the Obama is calling it a second stimulus package.
You forgot NASCAR and the FILM INDUSTRY.
sfcret, we probably disagree on a lot, but I agree with you on total opposition the porking up of legislation with unrelated spending measures. If it's a good idea to invest in American Samoa, that idea needs to stand on its own, not be snuck in with tax reform.
Obama's right in that extending UI and the payroll tax cut will stimulate the economy, but handing tax breaks to millionaires will not stimulate anything other than the real estate and yachts markets in Nassau and will blow giant holes in the deficit.
As Mick Jaeger said, You cant always get what you want!
Shawn, I also forgot the payroll tax holiday which the government has said they will make up the loss to SSA, as if the feds don't owe SS enough already.
This is getting past the point of being silly: Come 2012 We the People need to clean House and Senate of this trash. We deserve a Government for the people and by the people. What we have now is a government of I, me and us there is no we in their minds.
Shawn, I'll tear up my Harry Reid card if you'll tear up your Mitch McConnel. OK?
joe, I don't belong to any party or group and I wouldn't give you two cents for anyone in office right now. Those people in Washington forgot what it's like to be a true US citizen.
tea party=tools Big money(rich people) funded the "grass roots" revolt(joke)... and convinced all the tools that they were supporting the constitution and smaller govern ment and so on... in reality it all plays into the big corporations and more profits and money for the superwealthy.. Thanks tools.. you are great..
Your welcome! If Im going to be a tool I want to be a hammer......can I be a hammer......Can I please. Geesus what a wad you are.
But the "Hammer" is headed to the "slammer", so maybe you want to to look elsewhere in the craftsman Christmas toolbox?
it's "you're" as in "you are" and You're welcome...:)
"Massive tax increase" What massive tax increase? From 36 to 39% (as it was during the Clinton administration) this is mass tax increase? What a bunch of crooks, blowing this crap out of proportion.
I bet those who are currently paying nothing at all in federal income tax would consider their increases to be massive, don't you? If the tax cuts expire for some, then they must expire for all.
Whaddya mean paying nothing at all? The top 5% of income earners make 30% of the income and pay 50% of the tax load in the country.
The republican's are pathetic. Where's the outrage over spending. Wasn't that what they've been complaining about for the past two years.
Let's do a tally.
1. The republican's (Bush) inherited a surplus and turned it into a 1.4 trillion dollar deficit, mainly by giving tax breaks without paying for them.
2. The republican's initiated TARP, the biggest financial ballout in history.
3. And now the republican's are behind a tax deal than the stimuls plan . And over 1/3 of the total cost goes to the richest 2%.
To call these guys fiscally conservative is a joke.
the tax break for someone making 1.1 million a year would be just about enough to create 2 minimum wage jobs. Of course most of those will be created overseas.