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Subscribe to RSSIn a purely political exercise this afternoon in the Senate, Senate Democrats narrowly passed a bill 51 to 48 to extend Bush-era tax cuts for middle class Americans for another year. With Vice President Biden presiding over the Senate, Democrats lost only two votes: Sen. Jim Webb (D-Va.) and Sen. Joe Lieberman (I-Conn.), who regularly votes with Democrats.
Under the plan, income tax rates for individuals making up to $200,000 and families making up to $250,000 would remain the same in 2013. Rates on upper income Americans would expire on Dec. 31st.
"This is a big victory for the American people today," Vice President Biden said in a show of support for Senate Democrats. Biden's presence in the Senate chamber was a symbolic move, his vote was not needed to put Democrats over the top.
The bill follows through on an election-year call from President Obama to protect the middle class from an income tax hike next year. He has campaigned on the message that wealthier Americans should pay more in taxes to help reduce the national deficit.
"Democrats believe this country can't afford more budget-busting giveaways for the top 2 percent of earners," Majority Leader Harry Reid told his fellow senators on the floor.
But Republicans argue the Democrats’ bill would mean almost a million small business owners in those upper tax brackets would see a tax increase. Minority Leader Mitch McConnell said Democrats are not serious about the nation's fiscal problems.
"We know this is not about the economy. We know this is about the election," he shot back at Reid on the floor.
"Thank goodness it’s not going anywhere because it would be bad for the economy. The single worst thing we could do to the country," he said of the Democrats’ bill.
House Republicans have no plans to take up the Senate-passed bill; they will move ahead next week on their own legislation that would extend the Bush-era tax rates for all Americans for one year. A similar version failed today in the Senate.
The legislative maneuvering has set the stage for two competing messages heading into November.
As the Senate Democrat's political messaging leader Chuck Schumer (D-NY) told reporters,
"The House can either pass these middle-class tax cuts, like we did, or it will be clear they're putting millionaires first."
Or the Republican view as articulated by Mitch McConnell: "Here's the Democratic plan for the economy: ‘We'll get this thing going again. We'll get it going again by raising taxes ... give us your money, and we'll handle it for you.’ That's their tax plan. That's their plan for the economy and jobs."
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BUTT BUTT BUTT BUTT, the republicans took a vow to destroy President Obama and never to raise taxes on the rich no matter what the cost to the US. Please you people stop trying to get them to do anything else.
Forget about it. The middle class cant write those million dollar checks our politicians crave for their superpacs. This will never even be debated in the house.
It was never meant for debate in the house. It was simply a political move, nothing more.
Maybe the GOP will surprise everyone, especially the Dems, and put it to a vote.
Oh wait. Now I get it Skup. This was like when the GOP voted 35 times in the last two years to scuttle the AHA, knowing it would never get passed the Senate. They were just playing politics for the TP's.
Big win for America? No, big win for the government by the government that is no longer by the people and for the people but a government that is in control of the people. Libs like that.
Dmallett,
You are right the Government is no longer by the people and for the people, now theState and Federal Government is for and controlled by the Corporations and by the Rich and connected.
Stop the Corporate welfare!
Blah Blah Blah.............get a job.
Actually the tax rates under Clinton worked while the rates under Bush Jr. worked in favor of the top 2% and did ok with middle-class. What's even funnier than watching our politicians fight and mudsling each other across the aisles, is reading all of your blogs. Obviously we are either D, R, or maybe I's, but yet we're all mudslinging each other.
Blaming the other party for this and that. Honestly, I'm a registered D and voted for Pres. Obama and will re-vote for him this November! Here is my reason why. I don't agree with all the moves he's made nor the choices he's had to make. I don't agree with the majority D's in the Senate nor do I agree with the majority R's in the House.
I do not like Romney at all. Period. This guy, as great a business man that he is, I don't like how close he is with corporations. We already know he's stashed cash internationally, still I have yet to hear of ANY plan for anything yet and we're what...100 days from election? I know corporations already run and control DC politics like a puppet show on strings, but with Romney, I don't trust.
If it had been Santorum or Pawlenty (even though I think Pawlenty is smug about his way), I would have least listened to them and their ideas. Gingrich had his time playing chicken with Clinton in the 90's. Paul is way out beyond the hills with his thinking. Bachmann, well she can't even get Elvis's bday right. Perry, he's smug, has that Texas-sized ego, and kept saying "Well this is what I did in Texas," like all that he did was bigger, better, and smarter...which not all of his statements are true.
Here's the deal folks. We're all born and raised to be D's or R's. Some of us get sick of this s**t with DC and branch into I's, but when's the last time we had an (I) candidate run for President? They get squashed before they even get started. Nothing has changed between D's and R's. NOTHING! They will always bicker, fight, mudsling, point fingers at each other, cry, whine, complain, bitch, and tattle like 3 yr olds. Don't forget throw temper-tantrums when they don't get their way too.
They all have lied, will lie, and continue to lie to us and right to our faces. Promise us everything we wana hear, but in the end, they will NEVER care about you or your family. Until we THE PEOPLE stand up, make a stand, and STOP re-electing these same compulsive liars, DC politics will never change. For some of us who would like to try and make a real positive impact on DC, our statesmen, and our families (like me)...trying to get your foot in the door to your party's front door, is like pulling teeth from a pre-schooler.
I've sent emails to multiple D's and R's in my state, both state and federal, and none of them have answered me back. Not one has sent me even a simple confirmation email that they received my email. That should tell you something about politicians. They don't care about us, only your vote, and however way(s) they can get your vote.
Recently I heard an article on MSNBC from the Lawrence O'Donnell show, it's right after Rachel Maddow. I apologize if I misspelled Mr. Lawrence's last name wrong or maybe am way wrong about his last name. Anyways, he had some body who knows a bit about the tax code in the USA. He went on to say that if the tax code and tax breaks were to expire at year's end of 2012 and no voting on them.
That when 2013 rolled in, everybody but the top 2% would have their tax rates set back to Clinton era and that the top 2% would have there's remain flat if maybe a little increase. So if the tax breaks roll over, it's very good news for middle and lower income people because their tax rates will decrease automatically, meaning more cash in their pockets.
You know what I say. I come from a middle class, suburbia family, and life is full of risk taking. I'm not a gambling man by any means, but I do take risks, we all do. Let's all gamble on this and hope that 2013 rolls in and all the tax breaks expire at year's end. Let's see what happens no matter who's in control of the WH, House, or S.
In one breath you say let the tax cuts expire and then you turn around and say the tax breaks roll over into 2013 giving people more money.
You're a clown.
Have another drink.
The tax rates under Clinton worked because we were in the midst of the dot com boom. The tax hikes themselves are nothing more than political capital being used to buy votes. They do virtually nothing to close the deficits. With the lack of a source of monopoly money (read dot com boom, housing boom) to fuel it the economy will continue to flounder regardless of who is elected in the fall.
We are getting to the point we will be unable to pay the interest on the debt. When that happens, our only choice is bankrupcy.
Hardly. We've got quite a few years before we reach that state and hopefully by then it will be the next generation's problem.
Well, at least we know where both parties stand with regard to The People:
Democrats: For the benefit of the majority of The People.
Republicans: For the benefit of the majority of The People Who Also Happen To Be Corporations.
Squawk ! Polly wanna cracker?
Keep repeating what Keith Olberman tell you to say.
Actually, my posting is a comparison of entirely my own creation. And I'm not aware of Mr. Olbermann currently having a media presence.
Seems like I struck a nerve with calmconservative and he/she isn't quite so calm anymore.
Well, in a previous post, you desperately tried to refute economic reality... now you're mindlessly blathering about the rather obvious political ideology of today's teapublicans..
Calm?? Maybe..
Bright? Not so much...
Calm, why don't you move to rural Mississippi and hang out with the backward cotton belt bubbas that think like you do.
Getting us into A Natioanl debt rate 100% faster rate than any other President is all Obama. Deal with reality.
Hit 'em with some facts and all they can do is name call.
"Hit 'em with some facts and all they can do is name call." -calmconservative
This from the person who refers to a sitting president as "Obooboo" and "Bam Bam"?
calmconservative might do well to remember that when you finger-point at someone else, three fingers are pointing back at you.
To..Jon """
Funny...they said the same thing about bush...
The Era of Big Government Conservatism
Gene Healy is senior editor at the Cato Institute.
February 1, 2004
President Bush has demonstrated time and again that he does not share the small-government goals of the Goldwater-Reagan wing of the Republican Party. His record on spending and entitlements makes that abundantly clear.
Overall spending has increased twice as fast under George W. Bush as it did under Bill Clinton. And you can't just chalk that up to the demands of the war on terror. Non-defense discretionary spending is up 24 percent over the first three years of the Bush administration. That's a worse record than any president since Lyndon Johnson
recent Washington Post profile of conservative guru Grover Norquist describes Norquist asking the president's OMB director for "talking points" to defend the president's abysmal dreadful record on spending: "Norquist ventured politely: 'Is there a single agency you want to get rid of? It would be really helpful for us to say, 'This administration wants to get rid of [something].'" It's pretty clear from the article that he didn't get an answer.
https://www.cato.org/dailys/02-01-04.html
Still focused on Bush. Can't face their disaster of a President in the WH.
Still thinking of Mr. Bush as the Teflon President. Can't face the fact of his role in the economic crisis. And that's just one of Mr. Bush's many examples of failed leadership.
To calm """
No wonder the cons think of Obama as the Messiah ...seems they think the world was only created the day he was sworn into office ...and all the ills of the land would just disappear with just his laying of hands
Spin his spending rate any way you want Amudy, the guy and the Senate are walking, spending fuggin disasters. You know it, and I know it.
Mundy...he's been in office 4 YEARS dimwatt.
Why would anybody believe someone when he says he wants to down size government get the government out of peoples lives...then spend millions of dollars to get on the public dole of that very same government he want's to downsize for everybody else..what's up with that..
you want to downsize government ..don't run
Yeah, Obama sure lies through his teeth, right Amundy.
To..Jon"""
Nobody lies like republicans ....
Study: Bushies Lied 935 Times to Sell Iraq Invasion
Bush and his top officials waged a campaign of misinformation about the threat posed by Saddam Hussein's Iraq.
January 24, 2008 |
President George W. Bush and seven of his administration's top officials, including Vice President Dick Cheney, National Security Adviser Condoleezza Rice, and Defense Secretary Donald Rumsfeld, made at least 935
false statements in the two years following September 11, 2001, about the national security threat posed by Saddam Hussein's Iraq.
Nearly five years after the U.S. invasion of Iraq, an exhaustive examination of the record shows that the statements were part of an orchestrated campaign that effectively galvanized public opinion and, in the process, led the nation to war under decidedly false pretenses.
President Bush, for example, made 232 false statements about weapons of mass destruction in Iraq and another 28 false statements about Iraq's links to Al Qaeda. Secretary of State Powell had the second-highest total in the two-year period, with 244 false statements about weapons of mass destruction in Iraq and 10 about Iraq's links to Al Qaeda. Rumsfeld and Fleischer each made 109 false statements, followed by Wolfowitz (with 85), Rice (with 56), Cheney (with 48), and McClellan (with 14).
http://www.alternet.org/story/74715/study%3A_bushies_lied_935_times_to_sell_iraq_invasion
Obama lies through his teeth every time he opens his fuggin mouth so no one can keep up the count, and you Liberal goobers eat that chit for breakfast. You won't admit he sues his own states, is involved in Fast and Furious, got us involved in Libya, Africa, drones in Pakistan...He spends tax money on nepotism for his political cronies like Pelosi's BIL and his liquid salt pos green energy, Waters husbands bank.... no need to go on because it just gets worse.
He's a pos liberal fuggin democrat not worth the chit in the outhouse. He is gone in 4 months.
Taxes need to raised on the upper tier incomes like in the clinton years, their tax benefits should have expired when they were suppose to. All the Republicans have done is stale mate this country, but not moving on anything, since they took control of the house. Keeping their monies & not putting it to work to create jobs, they want to see Obama fail at any cost whatsoever. They also want 2 groups of people, the rich & their workers, no middle class. Romney is a joke to any working person, twisted lies & will tell you anything for your vote! In Clinton's years the stock market soared, retirement accounts made money, & businesses made money, even if they paid more in taxes. What's wrong is all the cut backs, local, state & federal, without those jobs for people, to go out & spend monies, it doesn't create new ones for other people. That's one of the biggest things they're doing wrong this time, that's why no growth in jobs. Could go on & on, But I'll say one last thing. When I went school over 40 yrs. ago, they said people vote their pay checks, Remember that this year, do not try to be big fella if you're not one, WORKS FOR ME, ALWAYS HAS!!!!
It takes two to create a stalemate...
Great, the Democrats that want to raise taxes during this economic crisis are on record. See you in November.
God cries when the rich are taxed...
Obama salivates. He is getting his socialist way. Well, for 4 more months.
You fully realize that Obama is one of the individuals who will in fact be paying more in taxes after Dec. 31rst 2012...
Right??
His "socialist" way??? LOL!!!
You can't possibly be this stup....
yeah,.. yeah you can...
Who cares? It won't have any effect on the economy.
LMAO.....but not on one penny Soros is putting in accounts for him for all the "favors"....K1200, if you got any more stupid you'd redefine lack of intelligence.
Neocons continually bash liberals and progressives as commie sympathizers but have nothing to say about the corporations that outsource jobs to communist China.
The GOP House of Representatives is too busy crafting legislation restricting women's rights and immigration to get around to creating jobs and cutting taxes for the middle class.
Illegal Immigration Louie. ILLEGAL. You fuggin Liberals obviously do not comprehend the meaning of that word.
Louie, obviously you want to blame the Republicans for every perceived injustice in the Country. You have a problem with outsourcing, check the Obama administration. They're the biggest outsourcing organization in the country. But if you really want to blame someone, look in the mirror.
Me, I'll just blame your parents for not getting an abortion.
Ronny, you're indeed a halfwit rube.
Senate teapublicans just voted down the "Bring Jobs Home" bill..
We know who is behind corporate offshoring.
"We know who is behind corporate offshoring." Sure you do. You don't even know who your father is let alone who's sending jobs over seas.
The public is well aware of who's doing what. Obama's done.
libs are the reason we're in this mess. dear leader lies and all you morons fall in line. read a book or a paper maybe you'll learn something or just try thinking for your self. never mind i am asking for something that you'll never be able to do.
The republicans also passed tax cuts for the middle class. But since they didn't include a few billion in extra revenue for Obama to blow on his campaign cronies Harry Reid won't let it pass the Senate.
Small business owners whose taxable income is just over $250,000 will be hurt more than you think if the tax cut is allowed to expire. Let's say that their sole source of income is their business. In addition to income taxes which would be raised if the tax cuts expire, sole-proprietors (those Mom and Pop businesses), also have to pay self-employment tax on net business income. The income tax is calculated on the $250,000. The self-employment tax is on top of income tax and, with the Social Security tax cut, SE tax is now at 13.3% NET BUSINESS INCOME which would be higher than the $250,000 because that is after standard deductions of $11,900 on MFJ in 2012 and exemptions $3,900 for each person in 2012). Without the SS tax cut, the SE tax is 15.3% OF NET BUSINESS INCOME. This is going to drastically reduce the actual, spendable cash that a business owner can plow back into the business. Cash that could be used to hire more employees, or even to be able to keep the ones they have and pay for health insurance for their employees, as well as for themselves and their families. The business will have to cut something to make up for the additional taxes. What is going to be cut. All this is not even taking into consideration the business owner's living expenses, such as housing, food, transportation, etc. $250,000 taxable income just doesn't really sound like that much now does it.
Why don't you bright Obama lovers how the country will be saved by taxing the top 3% more and letting the bottom 47% free load.
Tell us how that plan does anything for the country?
What it does, is appeal to class envy monkeys like you who believe rich people stole their money rather than earned it and you deserve some of theirs.
The rich people who earned their money? Are you talking about the financial service industry predators who sold worthless mortgage loan packages, or maybe the factory farm corporations that exploit illegal alien labor, or the corporate big shots of such companies as Enron and Global Crossing, or oil companies executives fattening up on tax breaks and government subsidies, or timber company executives enriching themselves on sweetheart contracts to cut trees on federal land, or maybe just all those high level executives of that outsourced jobs to third world countries. Yeah, those are really swell people who deserve every penny that they "earned." If you think the lower classes are the real villains, you don't have a clue.
Didn't answer the question though did ya leftard?
@zorro. Many people in the above $250k are couples both of whom work in jobs such as engineering, IT, small business owners. That is way different than who you think they are. I think maybe Shumer had it right with the one million dollar line but Obama told him to get in line.
Just about every person I know working in business says the same thing - Positions and jobs could be filled, but they're not hiring until after November unless absolutely necessary.
Why are they not hiring until after November? Hmm...I bet its not because they're afraid Romney might get elected. NO! Its because of the current Administration's policies.
Obama is not good for the United States and the increasing challenges we face these days. He is a good speaker, but a poor leader. He is not the right guy to bring the country together and his radical administration needs to go.
Obama controlled both houses from 2008-2010 and NOTHING but spending happened. That's the reason the House is now in the hands of the Republicans. If it would have continued we'd be totally owned by China. If Obama was serious about tax cuts and help for the middle class he could have done it during that two year period. Instead he passed two things - OBAMACARE increasing taxes on small business and spending $800 billion on a failed Stimulus bill were $71.5 billion went to foreign business that created jobs overseas. I was unemployed for 10 months and didn't qualify for any type of aid for mortgage or education because I made too much prior to losing my job. All Obama's programs were targeted to a select group. Obama has failed to lead, he's running a negative campaign because he has NO record to stand on.
Obama didn't get the hint from the midterm turnout. So he continued on with his radical policies of skirting legislation through the senate under false terms and attacking states trying to combat illegal immigration. What a scandal the democrats have turned out to be.
To..Jim"""
Too funny...complaining he ain't poor enough to get free stuff
There goes STUPE REID AGAIN tax bills do not start in the senate it was a worth-less obama campaign tool
Remember it's not about Romney.
Vote for ABO
Anybody But Obama
Duh... We know who comes first in teapublican land..... Da Jawwb Kreyators..!!!!
"""The House can either pass these middle-class tax cuts, like we did, or it will be clear they're putting millionaires first."""
Gov. Romney here goes your..... "1st LEADERSHIP TEST"....call upon The HOUSE REPUBLICANS.....to .....EXTEND THE BUSH TAX CUT........ don't tell me they DO NOT LIKE THE BUSH TAX CUT!!!!!!!!!!!REPUBLICANS!REPUBLICANS!REPUBLICANS!.........may-be, just may-be they DO NOT LIKE THE MIDDLE CLASS & POOR PEOPLE.........let us see how long they are gonna take to come up with their VERSION OR continue THE STRANGLE-HOLD ON THE ECONOMY AND HOLDING US HOSTAGES.............
Why don't you bright Obama lovers tell us how the country will be saved by taxing the top 3% more and letting the bottom 47% free load.
Tell us how that plan does anything for the country?
What it does, is appeal to class envy monkeys like you who believe rich people stole their money rather than earned it and you deserve some of theirs.
Can't muster up an answer huh Libbies?
To calm"""
Study says most corporations pay no U.S. income taxes
Aug 12, 2008
WASHINGTON (Reuters) - Most U.S. and foreign corporations doing business in the United States avoid paying any federal income taxes, despite trillions of dollars worth of sales, a government study released on Tuesday said.
The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005.
More than half of foreign companies and about 42 percent of U.S. companies paid no U.S. income taxes for two or more years in that period, the report said.
http://www.reuters.com/article/idUSN1249465620080812
You didn't answer the question.
For those who blame Obama. What has Obama been able to do to change anything that the repubs haven't shoot doen in Congress? The Senate and Obama, in this headline, just tried to extend the tax cuts for the middle class and the republicans garentee it won't pass. That means that they are trying to raise your taxs. Unless you make more then $200,00.00 a year they are saying you will pay more in taxs and you support that.
what a joke capitol gain tax imposes everyone.with even a small amount you pay how wrong. what a joke.
The Democratically controlled Senate set in motion a clear comparison between Toxic Egotistical Activist(TEA) party and Democrats. The House's John Boehner is scared of the Treacherous Egotistical Anarchist(TEA)n and on the other hand will not bring it to the floor knowing the bright light it would shine on each and every member of the House. Boehner is scared of the Treacherous Adversarial Egotist(TEA) party. Call TEA party operative what they are. Republicans are so scared of the TEA fringe, they will not disavow them as radicals and embrace their skewed notions and issues. Look at Texas where Dewhurst will not call Cruz a TEA party radical fanatic. But these radical fanatics back TEA party actions. TEA party extremes use the (R) instead of the (T) when running for office. It is my contention that TEA-Republican's are astounded that Obama has accomplished so much in such a short period of time. The middle class is being held hostage by the Troubling Economic Antagonist(TEA) party just like they did during the recent "debt ceiling" confrontation which led to the lowering of America's credit rating. Call TEA party operative what they are! Republicans are so scared of the TEA fringe, they will not disavow them as radicals and embrace their skewed notions and issues. Look at Texas where Dewhurst will not call Cruz a TEA party radical fanatic. But these radical fanatics back TEA party actions. TEA party extremes use the (R) instead of the (T) when running for office. If Republican's do not get their act together and do away with these extremist, they are lost and so is the November election!
Leftardz have Teaphobia; it's sad
The GOP is fading into the twilight, thankfully.
THE GOP will retain the House and probably take the Senate. you're a joke
oh; and obama is in a statistical tie with romney. lol
Send:
Take a longer view of history. Your thinking is too short term.
What was known as the Democratic Whig Party defended human slavery until the bitter end. Laid low (kind of) for a century until they were rooted out as Dixiecrats during the Civil Rights Era.
What was left of the GOP went through shock therapy in 1964, culminating in socialist Nixon who founded the EPA and employer funded health insurance concepts.
The GOP has a short time left to change, or fade into the dustbin of history. A new generation, a new awareness is always coming forward. The status quo can only be defended for so long before its internal contradictions become overwhelming. That is what is happening now right before our eyes.
Maybe Americans should identify these 1-2 % people who are playing the American people from both sides. Ask them why they need tax cuts since this is the sticking point. Forbes and other status forums can show us these people. We need to showcase them instead of depending on lies told in media circles as if they need incentive to create jobs. As fellow Americans we need them to tell us how this will help them or us in the long run, this is the uncertainty being proposed as with the last few decades by those continuing to believe trickle down economics will help. Please knock on their doors for an answer.
WTFHAPPENED