Posted on 01/11/2009 4:19:32 PM PST by reaganaut1
WASHINGTON (Reuters) - Senate Democrats said on Sunday President-elect Barack Obama's proposals to stimulate the economy would likely undergo big changes to address their concerns and ensure they will revive economic growth.
Obama's outline for an $800 billion stimulus plan called for 40 percent of it to be in the form of tax cuts, an effort to win over Republicans who have expressed concerns about major spending on infrastructure projects also in the package.
But Democrats complained that the $10 billion in energy tax breaks were not enough and also questioned whether a $1,000 tax cut for middle class workers and a $3,000 tax break for each new worker businesses hire would actually boost the economy.
The energy tax breaks will likely increase, possibly to as much as $25 billion, and changes may be in store for the other two tax breaks that were a source of Democratic concern, lawmakers said after meeting with Obama's economic advisers.
"There are significant changes already being put in place and being contemplated," Sen. John Kerry, a Massachusetts Democrat, told reporters. "I think it's moving in the right direction and I think we're making a lot of progress."
He said he believed the middle-class tax cut and job hiring credit would change.
It was the second meeting in four days between the Senate Democrats and Obama's incoming director of the National Economic Council Larry Summers and other advisers to hash out details of the economic stimulus plan.
Democrats went out of their way to praise the latest round of talks with Obama aides after initial criticism surfaced about the economic plan and prompted questions about whether the new president would have trouble getting his agenda through the Congress, which is controlled by members of his own party.
(Excerpt) Read more at nytimes.com ...
So now John effin Kerry is crafting an economic stimulus?
I hope that works out better than his foreign policy suggestions over the past 4 decades
Way to go America! Ya done good in November! I love this country!
These charlatan commies are not fooling anyone. ANYTHING that would improve our capitalist economy is forbidden. We must work hard to put all wealth and control in the hands of the socialist government -—
I don’t know what’s going to kick off the second civil war in this country......but I know what the sides are going to be, and some of what Congress has been doing the last few years - and what they’re going to soon be doing - will play a part in it.
The Rats always see more spending.. and on the wrong stuff!
I’m shocked. Dems want less tax cuts and more spending? What a surprise...
“But Democrats...also questioned whether a $1,000 tax cut for middle class workers and a $3,000 tax break for each new worker businesses hire would actually boost the economy.”
I’d be more outraged if I was certain 0bama’s proposed plans actually include a genuine tax cut for people who actually pay taxes in the first place. Still, the arrogance of Congress makes the hackles on my neck stand up.
All it would take is for the government to make the President Bush tax cuts permanent BUT these bumbling self righteous fools have to tinker with it to justify their existence and make matters intolerably worse in the process.
Life in the U.S.A. these days...
The energy tax breaks will likely increase, possibly to as much as $25 billion, and changes may be in store for the other two tax breaks that were a source of Democratic concern, lawmakers said after meeting with Obama's economic advisers.
Obama/Axelrod is a slick operator. He's beholden, big time, to the "alternative energy" interests (ethanol first on the list), so hey, it's Congress that's taking those "tax breaks" (which really weren't) away. He's just an innocent bystander, after all.
I just can’t wait to see what they come up with for the People’s Uniform in the new Unionized Socialist America.
These creeps are really starting to raise the ire of a lot of folks.
Time to refresh the tree of Liberty, IMO...
We will end up with equal outcome tax increases and more programs. Many more government employees. Rationing. 5 year plans. etc./ etc. Plan your escape now. Cash out tune out and dissapear.
“I just can’t wait to see what they come up with for the People’s Uniform in the new Unionized Socialist America.”
Peoples Unionized Socialist States of America...Homes;
The acronym says it all .... PUSSAH
It is going to be an economy destroying mess where only the harlots of DC will stand to gain..
Remember the Horse in the Roman senate?
we now have 536 Horses-asses.
...and I know who will win.
FReep 'em, guys and gals!
They are not charlatan commies. They are real commies as real as any Bolshevik. They legislation will get progressively worse. In two years, the rats will have 65 to 70 senate seats and 2/3 of the house. I suspect that they will try to pass some new constitutional amendments limiting political speech, enshrining racial preferences, and empowering labor unions.
Let the Democrats take 100% of the credit, then when it fails they can take 100% OF THE BLAME! ;).
Capital Gains tax cut to 0% for 10 years.
Corporate Income Tax cut to 0% for 10 years.
Personal Income taxes capped at 28% for ten years.
I have two words of advise for those of you who want to survive this. Black market. Carve out your niche soon, because these Marxist goons plan to go all the way, and fail just like all the evil moonbats that have preceded them.
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