Skip to comments.Cliff avoided: Congress staves off tax hikes
Posted on 01/01/2013 9:13:47 PM PST by Olog-hai
Past its own New Years deadline, a weary Congress sent President Barack Obama legislation to avoid a national fiscal cliff of middle class tax increases and spending cuts late Tuesday night in the culmination of a struggle that strained America's divided government to the limit.
The bills passage on a bipartisan 257-167 vote in the House sealed a hard-won political triumph for the president less than two months after he secured re-election while calling for higher taxes on the wealthy.
Moments later, Obama strode into the White House briefing room and declared, Thanks to the votes of Republicans and Democrats in Congress I will sign a law that raises taxes on the wealthiest two percent of Americans while preventing tax hikes that could have sent the economy back into recession.
In addition to neutralizing middle class tax increases and spending cuts taking effect with the new year, the legislation will raise tax rates on incomes over $400,000 for individuals and $450,000 for couples. That was higher than the thresholds of $200,000 and $250,000 that Obama campaigned for. But remarkably, in a party that swore off tax increases two decades ago, dozens of Republicans supported the bill at both ends of the Capitol.
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Sorry boys. America went over the “cliff” a long time ago. We’re 16 trillion in debt headed for 20 trillion.
Yup! Any way you slice it, we’ve been screwed, glued, and tattooed.......
Ap shills put lipstick on a Pig.....
Bonehead Bohner...stabs America In the back....
The Top 3 Rinos Have to go.
Guess they forgot about that 2% payroll tax hike.....on everyone including the middle class.
I can’t wait to see how the GOP-e protects the second amendment.
Even this tax hike will cost 700,000 jobs, and it barely scratches the surface of the problem.
Nope. That is 58 TRILLION Dollars of total National Debt, not the short term 16 TRILLION Dollar barrowing smokescreen.
GOP didn’t get enough capital in election, so a compromise is no bad.
Gee, I just love congress now, especially the republicans, I mean, gee, they just have a way of caving in to the money changers
Only in the minds of sick media/politicians could you stave off tax hikes by raising taxes.
So, do our votes count or not?
And what do we do?
You know it is our vote that keeps these SOB’s in power right?
When do we understand that it is no longer about the vote?
Barry whines a lot about the mess he “inherited”. Imagine the mess the slob who runs in 2016 is going to “inherit” from Barry. I can’t see how anybody in their right mind would want to run for POTUS in 2016. They’d have to be nuts.
The only ‘CLIFF’ here is the one our government will go over if the debt ceiling isn’t raised. It is the one trump card the Republicans hold, and they could get anything they want for it. But sadly, Boehner has already announced in advance that he will fold on that one as well.
When too many Republicans stand up to oppose O (and Boner before him) on cutting our taxes while claiming they opposed tax increases its over.
I hope the GOP will understand if I don’t say thank you.
B. Hussein Obama increased Federal spending by 20 % over that of GWB.