Posted on 12/04/2010 9:24:38 AM PST by PapaBear3625
Senate Republicans on Saturday voted against extending the Bush tax cuts to only the middle class in a pair of votes Democrats are seizing to paint the GOP as guardians of the rich.
The Senate voted 53-36 to extend all expiring tax cuts on individuals with incomes of less than $200,000 a year and married couples making less than $250,000 -- seven shy of the required 60 to advance.
The other proposal, which drew opposition from White House officials, would have renewed them for all tax filers with incomes of $1 million or less. That also failed in a 53-36 vote.
(Excerpt) Read more at foxnews.com ...
They were from the “other” seven states.....
There actually is plenty of urgency. A lot of people have to make decisions about stock options on 15 December. Even if we do something retroactive after the first of the year, a lot of investors will have already done the safe thing (dump their stock in a year where the tax on the profit is low rather than depend on GOP congresscritters) screwing up the market and a lot of job creation potential early in the new year.
Besides, the GOP should be on the offensive in the lame duck because the American people spoke loud and clear on Election Day. Every time a Dem bitches, the GOP response should be “We ran on this tax cut and the middle class threw 65 of you jerks out of office over it. Quit whining and do what is right!”
Tax rate extension for everybody, as soon as possible, without any concessions. Beat them over the head in the media cycle if they expect to get the kitchen sink or any other bloody thing for avoiding a tax hike in a recession.
No 53 voted for this, the rest against. They needed 60 to pass.
No compromising. No to start, no to earmarks, no new taxes....This is a new tax. This is not the gov’t’s money.
Damnit....I am so sick of this political BS. Why not have the vote before the election? No...
No compromising with these bas*ards.
I think that is a canard. Do you think Americans would revolt if republicans disbanded the FCC? How about the Department of Transportation? How about 3/4 of the agencies in DC? There is plenty of low hanging fruit to pick before you need to get into the goodies (though that will have to come).
Businesses aren’t hiring because it is impossible to make long run plans with this government in place. You have no idea what your tax rates will be. You have no idea what the next regulatory punch to the stomach will be. There are laws on the books where even the bureaucrats who ill be enforcing it can’t tell you what the rules are going to be.
You could not stifle economic growth any more effectively if that was your goal.
Exactly. That’s why we need this done as soon as we can get it done. I don’t support concessions, but the idea that there is no urgency is ludicrous. In fact, a President who had any economic sense and cared about American workers would have demanded permanency for these cuts as soon as he arrived in office. This should have been done yesteday, or, rather, about 23 months before yesterday.
...so 36 Senators support the upcoming Obama tax HIKES??? Names, please?
Yup, yup, and yup.
I got that backwards, didn’t I? 53 support the Obama tax HIKES on small business men and women...the ‘rich’.
The GOP is evil.
It just isn't right to be rich.
The only compassionate thing to do is to promote poorness and show the world how compassionate we really are.
Thank God we have the DNC to keep evil in check or it would most likely lead to EVERYBODY being rich!
It's "Corporate." The Republicans are correct. What they voted for was to not extend the tax cuts until all can get them. I see nothing wrong with that.
Let the 'Rats in the tent on this and before long they will lower the "rich" rate to anyone making over $35,000, then anyone over $23,000. The Dems will NOT limit themselves and there is no stopping them.
What makes you think anyone making over $250,000 is corporate? It could be a person that has just worked hard.
Fox went on my red flag list when they started
using the phrase “super rich” this week.
These small firms each employ from 25 to 250 individuals - that Collectively account for 25% of all U.S. jobs
Likewise, with respect to large corporations - the US ALREADY has the HIGHEST Corporate tax rate of any western nation
FACT: Raising taxes on these small firms will KILL Jobs FACT: the top 10% wage earners ALREADY account for 70% of all federal income tax revenue
FACT: the bottom 50% of all wage earners account for only 2% of all federal income tax revenue
Why don’t we start calling this the Obama/Democrat tax hike on small businesses? What do you think will happen to payrolls when small business owners get hit with the Obama tax HIKE in January? Hmmm..?
Joe Lieberman proved again he can be an okay guy sometimes - he voted against both votes. The one that surprised me a bit was Feingold. He also opposed both bills. Didn’t expect that.
Interestingly, Dick Durban, Tom Harkin, and Rockefeller all opposed Schumer’s $1 million threshold amendment.
Good idea!
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