[ScottinVA]

He’s actually right. The Bush tax relief sunset was factored into the figures in this bill. If they’re not renewed, the taxes will markedly increase. If they are renewed, then — by CBO’s calculations — that will create a $5T hole that will need to be filled. And (correct me if I’m wrong here) if the Gang of 12 doesn’t agree on a budget-cutting remedy, tax hikes will occur as a result of a “trigger.”

Wow... some victory for the Tea Party.

Thanks, Republican “leadership.” Get bent, the lot of you.

[MNJohnnie]

Factually incorrect.

People really need to learn what is in this bill.

http://keithhennessey.com/2011/08/01/bca-summary/

[Sgt_Schultze]

The Social Security withholding reduction also expires at the end of the year.

[lonevoice]

He’s actually right. The Bush tax relief sunset was factored into the figures in this bill. If they’re not renewed, the taxes will markedly increase. If they are renewed, then — by CBO’s calculations — that will create a $5T hole that will need to be filled. And (correct me if I’m wrong here) if the Gang of 12 doesn’t agree on a budget-cutting remedy, tax hikes will occur as a result of a “trigger.”

Wow... some victory for the Tea Party.

Thanks, Republican “leadership.” Get bent, the lot of you.

You speak for me and millions of others. This is where we find ourselves today.

[Williams]

Face it, no one wants to actually cut something specific. They also don’t want to raise taxes. They are just scum.

I’d have to see the automatic cuts, my reaction is let them happen.

[Scott from the Left Coast]

The Republicans again showed us why their nickname is "The Stupid Party". And Boehner (Cantor, West, et. al.) is perhaps the stupidest man to ever be Speaker of the House: He gets that distinction because he had every reason to know that Reid and the Democrats would screw with him and beat him like a dead elephant and still he fell for it.

Someone who is so afraid (of getting blamed for something someone else - read Obama - would do) that they can't function with even a modicum of basic common sense or intelligence has no business being Speaker. It isn't a country club position any longer, the nation is sinking like the Titanic.

It's 11:30 P.M. in America.

[Recovering Ex-hippie]

Do you really think those Bush tax cuts would have stayed anyways unless we get a conservative Pres and a strong Senate?

We know they would be cut...so don’t say that is part of this “no taxes’ deal. If we had taxes now on this deal, we would still be increasing taxes even more! We staved off taxes so far, then its up to the election to make sure the Bush cuts stay.

[CA Conservative]

And (correct me if I’m wrong here) if the Gang of 12 doesn’t agree on a budget-cutting remedy, tax hikes will occur as a result of a “trigger.”

I'm going to correct you. They were discussing having automatic tax increases as part of a "trigger", but that was dropped. Now, if the "trigger" gets pulled, there are automatic cuts - 1/2 from "security" funding (including defense, state department, homeland security, etc), and half from other domestic spending, including some from Medicare, but not from SS or Medicaid.

[Melchior]

See #14. Please read.

[reaganator]

$5 Trillion dollar hole if the Clinton tax increase is not re-instated?

Allowing the Clinton tax increase to re-instate will slow the economy even more and lessen tax revenue.