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Keyword: taxcuts

Brevity: Headers | « Text »
  • A Credibility Deficit. Tax cuts DO NOT generally increase revenue.

    04/25/2011 7:14:56 AM PDT · by SeekAndFind · 28 replies
    National Review ^ | 04/25/2011 | Kevin Williamson
    Among sentences I do not like to write: Andrew Leonard is mostly right about this one. Tax cuts do not generally increase revenue, and Republicans should stop saying otherwise. But he’s not quite right to treat all these statements as equivalent: ---------------------------------------------------------------------------------------------------------------------------- Here’s Rep. Joe Walsh, (R-Ill.) the self-styled “conservative Tea Party activist” who upset Democrat Melissa Bean in the 2010 midterms, on ABC’s “This Week.” “In the ’80s, federal revenues went up,” said Walsh. “We didn’t cut spending. Revenues went up in the ’80s. Every time we’ve cut taxes, revenues have gone up. The economy has grown.” Walsh may...
  • Alliance tax cuts top 100 billion kronor (:Sweden - The light is coming from Scandinavia!)

    04/23/2011 11:38:55 AM PDT · by WesternCulture · 9 replies
    www.thelocal.se ^ | 04/23/2011 | TT/The Local
    I was born in Sweden 41 years ago and since 1988 I work there. Compared to when I begun my career, wages are much higher, prices have not gone up much and taxes are way lower. Recently, our economy has displayed GDP growth figures of 7.3%. Do we Scandinavians set an example for other nations? I think we do. Germany has recently begun listening to what Denmark, Norway, Finland and Sweden have to say in the area of economic policy and national budget discipline. One fine day, France, Italy, Britain, Japan and the US perhaps will too.. The article: "The...
  • Can’t Blame Bush. Dubya's wars, tax cuts, and bailouts are not what got us into this mess.

    04/18/2011 7:28:07 AM PDT · by SeekAndFind · 25 replies
    National Review ^ | 04/18/2011 | Kevin Williamson
    Your average poorly informed lefty (but I repeat myself) will reliably tell you that our current fiscal straits are the result of three things: 1. Bush’s wars; 2. Bush’s tax cuts for the rich; 3. Bush’s bank bailouts. That is not true, of course: The main bank bailouts (odious as they were) have been paid back, often at a profit. The money-losing parts (and the likely money-losing parts) are the ones insisted upon by Barack Obama and his Democratic colleagues: the foreclosure-prevention programs, the endless maintenance of Fannie Mae and Freddie Mac, etc. The Iraq War, in its most expensive...
  • Ben Stein Blames ‘Excessive Tax Cuts’ & ‘Voodoo Economics’ for Deficit

    04/17/2011 6:51:27 PM PDT · by AnnGora · 83 replies
    Newsbusters.org ^ | April 17, 2011 | Brad Wilmouth
    During a pre-recorded commentary aired on CBS’s Sunday Morning show, right-leaning actor and economist Ben Stein - also a CBS contributor - blamed "excessive tax cuts" enacted by former President Bush and congressional Republicans for "starting the problem" of the current federal budget deficit, and advocated raising taxes on the wealthy in addition to "major spending cuts" and changes in Medicare and Social Security to get the deficit under control. Stein: "The Republicans who started the problem with excessive tax cuts in the Bush years will have to agree to raise taxes at least upon the truly rich of whom...
  • News.NJ Governor Chris Christie goes after state worker bennies to fund tax cuts & credits

    02/23/2011 4:06:51 AM PST · by Huck · 14 replies
    Trentonian ^ | February 22, 2011
    TRENTON, N.J. (AP) — New Jersey Gov. Chris Christie held fast to his national reputation for fiscal discipline amid the widespread financial crisis that's hit U.S. states, unveiling a $29.4 billion state budget Tuesday that calls for heftier contributions from state workers for pension and health care benefits. Christie proposes paying $500 million into the state's severely underfunded pension system — the minimum required under a new state law to get the state to quit skipping its payments. But Christie, who's burnished national credentials as a take-no-prisoners fiscal conservative, says he'll make the payment only if the Democratic Legislature agrees...
  • N.J. businesses praise Christie's proposal for $690M in tax cuts

    02/23/2011 3:44:52 AM PST · by Huck · 10 replies
    NJ.com ^ | February 23, 2011 | Star-Ledger staff
    New Jersey business advocacy groups cheered Gov. Chris Christie’s state budget Tuesday, expressing satisfaction with his strategy for creating "a better environment to start and grow a business." While the governor may have ruffled some feathers in other aspects of his budget, the business community embraced his proposal to phase in cuts for corporate, income, sales and estate taxes, totaling nearly $200 million in the coming year, and $690 million in 2016. "For the first time in my lifetime, we have a governor and a legislature that care about paying the bills," said trucking business owner Matt Wright, during an...
  • Biting the Bullet and Cutting Expenses

    02/15/2011 1:54:36 PM PST · by jda · 8 replies
    Please do your part!!!
  • Lawmakers Consider Cutting Corporate Taxes (Indiana)

    02/08/2011 1:24:12 PM PST · by Abathar · 15 replies
    AP/theindychannel.com ^ | 02/08/2011 | Staff
    INDIANAPOLIS -- Legislators are moving ahead with a plan to cut Indiana's corporate income tax by about 40 percent while holding off on phasing out the state inheritance tax. The state Senate tax committee on Tuesday heard testimony that Indiana's corporate tax rate of 8.5 percent is among the nation's highest. Supporters of cutting it to 5 percent said the higher rate discourages businesses from moving into Indiana.
  • Biden: We Will Try To "Repeal" Tax Cuts Again (video)

    01/28/2011 11:31:39 AM PST · by i88schwartz · 18 replies
    RealClearPolitics ^ | January 28, 2011 | RealClearPolitics
    "We are going to once again attempt to repeal the unnecessary $700-billion tax cut for people who make the top two percent," Vice President Joe Biden told Yahoo! News.
  • Fredom Is The Freedom To Say....

    01/18/2011 9:12:04 PM PST · by Absolutely Nobama · 10 replies
    www.absolutelynobama.com ^ | December 14, 2010 | Alan Levy
    "Freedom is the freedom to say that two plus two makes four. If that is granted, all else follows." -- George Orwell, Ninteen Eighty-Four -------------------------------------------------------------------------------- Ok. Fine. You asked for it, George. THE TAX DEAL HAMMERED OUT BY MITCH MCCONNELL AND JOHN BOEHNER WITH CHAIRMAN OBAMA SUCKS. I THINK MCCONNELL AND BOEHNER SHOULD BE STRIPPED OF THEIR LEADERSHIP POSITIONS. There are many reasons why I left the Republican Panty. The first nail in the coffin was John McPain being named the Republican nominee for the '08 Popularity Contest. The second nail in the coffin was George Bush's ugly baby, TARP....
  • Why You May Not File Your Tax Return Before February (some tax breaks expired in 2009!)

    01/16/2011 5:18:49 PM PST · by Innovative · 20 replies
    WSJ ^ | Jan. 16, 2010 | Tom Herman
    Q: The law Congress passed in December should only affect the taxes for 2011, which will be filed in 2012. Why is the IRS blaming Congress for this problem when its actions should not have affected the processing of 2010 returns? A: You are correct about the Bush-era income-tax rate cuts. However, several other popular tax breaks expired at the end of 2009, and Congress didn't resurrect them until mid-December of 2010. As a result, the IRS says it needs time to "reprogram its processing systems." That, in turn, means millions of people will have to wait to file their...
  • Reinfeldt open to further tax cuts (- Swedish consumers the happiest on Earth?)

    01/11/2011 5:43:13 AM PST · by WesternCulture · 7 replies
    www.thelocal.se ^ | 01/10/2011 | TT/The Local
    Swedish Prime Minister Fredrik Reinfeldt has indicated that his government is ready to push ahead with further tax cuts assuming public finances continue to improve. Reinfeldt told Sveriges Television (SVT) on Sunday that he’s open to moving ahead with the fifth stage in the centre-right government’s in-work tax credit programme (jobbskatteavdraget). According to Reinfeldt, the tax reductions could come as soon as January 1st, 2012 as long as the four parties of the centre-right Alliance government can come to an agreement on the issue. “But we believe on the best way to stimulated part time workers and low-wage earners to...
  • Five New Years Resolutions for the New Congress

    12/30/2010 9:05:51 PM PST · by MikeMerritt · 2 replies · 3+ views
    Right Across the Atlantic ^ | 12/30/2010 | Michael Merritt
    A New Year approaches. Along with it comes a brand new Congress. There are many things Congress needs to do next year. However, I believe there are five that are of the utmost importance; things that the new Congress should make New Years Resolutions.
  • Savannah Guthrie: 'I Know' Obama Sees Middle-Class Tax Cuts As 'Moral Issue

    12/30/2010 5:06:34 AM PST · by governsleastgovernsbest · 26 replies · 4+ views
    NewsBusters ^ | Mark Finkelstein
    Next time Barack Obama is looking for character references, here's one person he can count on: Savannah Guthrie . . . On Morning Joe today, the NBC White House correspondent personally vouched for PBO, saying "I know the president looks at [middle-class tax cuts] as a moral issue." View video after the jump.
  • The New Big Picture (Really good read at link)

    12/28/2010 1:46:38 PM PST · by Signalman · 3 replies · 2+ views
    Spectator.org ^ | 12/15/2010 | Peter Ferrara
    The Bush Tax Cuts: The Final Word and Beyond For how many years have Barack Obama, Nancy Pelosi, and other Democrats been telling America that Bush cut taxes only for the rich? If so, where did all those middle class tax cuts come from that everyone is now talking about extending? The Republicans are holding the middle class tax cuts hostage? It was the Republicans who enacted the middle class tax cuts, nearly 10 years ago now. That would be $3 trillion in middle class tax cuts over the next 10 years. Obama and Pelosi are talking as if these...
  • Herman Cain on FOX with David Asman - video

    12/24/2010 6:35:49 AM PST · by justsaynomore · 35 replies · 2+ views
    Hermanator PAC ^ | December 24, 2010 | Herman Cain
    Herman discusses the lame duck session, the economy, his cancer survival, and more with David Asman. VIDEO
  • 51 million, mostly lower-income, will do worse under new tax law

    12/17/2010 2:30:34 PM PST · by wrrock · 26 replies
    Consumer Reports ^ | 12/17/2010 | Consumer Reports
    The federal tax bill passed by Congress yesterday includes some extras for the middle class and lots of goodies for the wealthy. But individuals making less than $20,000 and households making less than $40,000 a year will actually get less tax relief in 2011 than they got in 2010 and 2009. That's because the Making Work Pay credit, a temporary tax credit that's been in effect for the past two years, is going away as of January 1. That credit provides up to $400 per individual, $800 per household, for all eligible workers. And it adds more to the pockets...
  • House passes temporary extension of Bush-era tax cuts 277-148

    12/16/2010 9:30:45 PM PST · by Second Amendment First · 98 replies · 7+ views
    The Hill ^ | December 16, 2010 | Russell Berman and Mike Lillis
    The House late Thursday gave final approval, 277-148, to a temporary extension of the George W. Bush-era tax rates, delivering a significant but politically bruising victory to President Obama. The $858 billion legislation now heads to the president’s desk for his signature. It extends the Bush tax cuts across the board for two years, slashes the employee payroll tax by 2 percent for one year, renews the estate tax and extends unemployment insurance benefits for 13 months. The president argued the deal was the best he could get from Republicans who refused to budge on extending tax cuts for the...
  • 5 Republicans Oppose Permanent Extension of Tax Cuts

    12/15/2010 10:59:00 AM PST · by red meat conservative · 19 replies
    Red Meat Conservative ^ | 12/15/10 | Daniel
    Today, the Senate voted on the DeMint amendment to the tax deal (H.R. 4853).  This amendment would have extended all of the Bush tax forever and would have permanently eliminated the death tax.  The amendment was forced through a suspension motion which required 67 votes because Harry Reid has once again filled the amendment tree.  The motion only garnered 37 votes.  Ben Nelson was the only Democrat to support DeMint, but 5 Republicans opposed him: Scott Brown Susan Collins Mark Kirk Olympia Snowe George Voinivich Thank you Scott Brown for stabbing those who elected you in the back.  There is...
  • It would be better for all Bush cuts to expire than exempt the “rich”

    12/15/2010 7:02:57 AM PST · by Brittany Pounders · 22 replies
    www.LibertyJuice.com ^ | December 15, 2010 | Kevin Price
    The battle over the extension of the Bush tax cuts rages on. We hear about it in the Congress, from the White House, on the news and even at the water cooler. Everyone is taking sides. If these cuts do not continue, the United States will experience one of the highest tax increases in US history and the continued attack on job creation. Furthermore, we will likely move to the top spot of highest taxed countries in the industrialized world. In a world where capital can easily take flight, this spells dire consequences for an economy that is the worst...
  • Ethanol Kickback: Corn-Fed Hypocrisy

    12/14/2010 4:43:40 PM PST · by Kaslin · 22 replies
    IBD Editorial ^ | December 14, 2010 | Staff
    Subsidies: As with the Cornhusker Kickback and the Louisiana Purchase, the majority leader of the Senate seeks to buy votes for a bill, this time the tax-cut compromise with support for ethanol credits for the rich. With the tax-cut compromise having made it through the Senate, the Democrats have once again reminded us why the voters threw a good portion of the rascals out in 2010. They continue to act as if the populist revolt against tax-and-spend big government never happened. To sweeten the deal made between President Obama and Republicans regarding extending all the decade-old Bush tax rates, including...
  • Income Taxes, Millionaires, and Billionaires (Chuck Schumer wants to play class warfare)

    12/14/2010 7:57:55 AM PST · by SeekAndFind · 8 replies
    American Thinker ^ | 12/14/2010 | Christopher Chantrill
    Senator Chuck Schumer (D-NY) is reported to be "irked" that President Obama didn't take his advice and use the tax bill to "corner Republicans into defending millionaires and billionaires."  In fact, Schumer's not just irked -- he's "deeply disappointed and convinced Obama had missed a major opportunity."  You'll remember that Schumer's plan was to continue the Bush tax cuts for everyone except those earning more than $1 million a year. Presumably, Chuck is upset about income trends showing the income share of the very richest rising in recent years.  Here is data from the IRS showing that the top...
  • Japan to cut corporate tax to stimulate economy (The USA will not be #2 much longer)

    12/14/2010 7:37:51 AM PST · by SeekAndFind · 4 replies
    RealClearMarkets ^ | 12/14/2010 | Mari Yamaguchi
    <p>Japan's government announced it would cut the country's hefty corporate tax rate by 5 percentage points, in a bid to stimulate the economy and help Japanese businesses stay competitive.</p> <p>The step announced late Monday is aimed at promoting investment, employment and salary increases at home so that Japan can exit deflation, Prime Minister Naoto Kan said.</p>
  • Video: Dem Congressman: GOP ‘Gangsters’, “Don’t Submit To Their Blackmail” On Tax Cuts

    12/13/2010 11:03:27 AM PST · by blog.Eyeblast.tv · 20 replies
    Dem. Rep Jerrold Nadler (D-NY) appeared on Face the Nation and referred to the GOP as ‘gangsters’ and said “don’t submit to their ‘blackmail” while referring to the tax cuts. This accusation by Nadler comes on the heels of Obama claiming he saved America from the GOP “hostage takers” after it was announced a compromise had come about.
  • Scarborough On Tax Cut Deal: 'George Bush Has Won'

    12/13/2010 6:20:50 AM PST · by governsleastgovernsbest · 27 replies
    NewsBusters ^ | Mark Finkelstein
    Somewhere, George Bush is laughing . . . That was the image in Joe Scarborough's mind this morning. The Morning Joe host repeatedly made the point that whereas Dems continue to control the White House and massive congressional majorities, they now are looking at the Bush tax cuts, which for years they vilified, as their last best hope. When it comes to Republican and Dem support for the tax cut deal, Joe--concerned about the $1 trillion being added to the deficit--has been in pox-on-both-their-houses mode. He seems to side with opponents of the bill including Jim DeMint, Rand Paul. ....
  • Compromising Positions

    12/12/2010 5:56:24 AM PST · by Kaslin · 15 replies
    Townhall.com ^ | December 12, 2010 | Salena Zito
    LEXINGTON, Ky. – If your attention is diverted for the briefest of moments as you walk along North Mill Street’s red-brick sidewalk, you easily could miss the former law office of Henry Clay. Barely 20 feet wide and closed to the public, the office is notable only for a historical marker hidden to its left, pointing out the modest headquarters of a young frontier lawyer who went on to become a revered statesmen known as “The Great Compromiser.” Clay earned that title in the 1820s when he temporarily pacified the U.S. government’s conflict with South Carolina, which was on the...
  • Don't Let Economically-Illiterate 'Progressives' Take Your Umbrella!

    12/10/2010 5:49:56 PM PST · by The Looking Spoon · 3 replies
    The Looking Spoon ^ | 12-10-10 | Jared H. McAndersen
    I recently broke a rule I made for myself to not get into fights with liberals on Twitter. Engaging in Twitter fights reminds me too much of what it must've been like to be a supporter of Obama in 2008:It's too hard to think in complete sentences, when it's over you have this overwhelming feeling of guilt and regret and a longing to have that time back, and actual literacy is optional. One of the canards I had to deal with in my debate with them was this notion that the tax cuts "didn't work" and therefore it was...
  • Oh, Christmas Tree! Tax deal larded up with TARP special interest provisions

    12/09/2010 9:28:07 PM PST · by Ernest_at_the_Beach · 12 replies
    Washington Examiner ^ | 12/09/10 10:11 PM | David Freddoso
    Remember all of those special interest tax breaks in the 2008 TARP bill? - Film and Television Productions (Sec. 502)- Wooden Arrows designed for use by children (Sec. 503)- Virgin Island and Puerto Rican Rum (Section 308)- American Samoa (Sec. 309)- Mine Rescue Teams (Sec. 310)- Mine Safety Equipment (Sec. 311)- Domestic Production Activities in Puerto Rico (Sec. 312)- Indian Tribes (Sec. 314, 315)- Railroads (Sec. 316)- Auto Racing Tracks (317)- District of Columbia (Sec. 322)- Wool Research (Sec. 325) Many of them are back. Although I'm not sure yet whether the "research credit" is for "wool research." -Research credit.-Indian...
  • Peace in our time: Obama, House Dems strike bargain on tax cuts deal? ( A turnaround???)

    12/09/2010 9:15:19 PM PST · by Ernest_at_the_Beach · 33 replies
    Hot Air ^ | 9:50 pm on December 9, 2010 | Allahpundit
    Does this mean … no impeachment? Because I’ve got to tell you, after this morning’s unpleasantness, my expectations were sky high. The AP’s vague on the precise terms — and cost — of the bargain, but it sounds like that righteous liberal rage over the new estate tax rate magically dissipated after it was sprinkled with a few ethanol subsidies. Let’s call this “The Cornhusker Kickback — part two”: The White House and key lawmakers cleared the way Thursday night for swift Senate action to avert a Jan. 1 spike in income taxes for nearly all Americans, agreeing to extend...
  • The Democrats Flip-Flop On Tax Cuts

    12/09/2010 8:23:06 PM PST · by JohnRLott · 6 replies · 1+ views
    Fox News ^ | December 09, 2010 | John R. Lott Jr.
    For years, Democrats have bashed Republicans over tax cuts. Tax cuts supposedly did nothing to encourage work and, thus, when President Bush cut tax rates across the board, it only lined the pockets of the wealthy. This rhetoric repeated over and over for the last decade. But now President Obama's tax rate agreement is creating massive confusion among Democrats and many Senators will cast their vote tonight in contradiction to their previously stated positions. In September 2001, a New York Times editorial summed up the received wisdom of Democrats: "the Bush tax cut wasn't designed to fight a recession." The...
  • Tale Of Two Recoveries

    12/09/2010 5:03:34 PM PST · by Kaslin · 2 replies
    IBD Editorials ^ | December 9, 2010 | Staff
    Leadership: A mainstream media guru says the president is channeling Ronald Reagan but risks becoming Jimmy Carter. Reagan's policies worked, Carter's didn't and Obama's haven't. Wake up and smell the tax cuts. Noted journalist Howard Fineman, a former Newsweek icon now plying his thoughts at the Huffington Post, is not happy with President Obama's embrace of fiscal and political reality by striking a deal with a resurgent GOP that extends the Bush tax cuts. Typical of mainstream media angst, Fineman opines that Obama has "just been backed — or backed himself — into a Reaganite corner" and embraced the "essence...
  • Obama tax compromise smashes Democrats in 2

    12/09/2010 4:23:46 PM PST · by ssugasl231 · 25 replies
    "F--- the President" was uttered by a frustrated DEMOCRATIC lawmaker today, as well as "We can't trust him" (referring the Obama). What gives? Can't Obama get any love for being post-partisan from fellow Democrats? Apparently not. This compromise, at the tail end of a truly depressing and frightening 2 yaers of complete Democratic power, is now ending with a whimper. And that whimper is the sound of the Democratic Party, broken in 2. On one side is Obama, and ostensibly other "pragmatists" or those realistic enough to
  • Pelosi pledges to win changes as House Dems reject tax-cut deal

    12/09/2010 1:01:22 PM PST · by jda · 19 replies
    The Hill ^ | 09 December 2010 | Mike Lillis and Russell Berman
    “If everybody took out what they didn't like, we would have nothing,” Gibbs said. “And we know the consequences of doing nothing.”
  • The Bush Tax Cuts Never Went Far Enough

    12/09/2010 9:52:25 AM PST · by Qbert · 6 replies
    WSJ ^ | 12/8/2010 | THOMAS F. COOLEY & LEE E. OHANIAN
    The Obama administration has announced its willingness to compromise on a temporary extension of the Bush tax cuts for all income levels. But the Bush tax cuts never went far enough in providing sufficient incentives to promote higher rates of savings and investment. Temporary solutions like this one or the administration's proposed investment tax credit for businesses will not solve our problem of low capital accumulation. What matters is how the income from capital is taxed over its lifetime. Economists agree that a large capital stock is a key ingredient for prosperity, as it expands our productive capacity and raises...
  • Why not Soak the Rich? (Not all of them are that wealthy, hurting them won’t help the rest)

    12/09/2010 7:34:38 AM PST · by SeekAndFind · 31 replies · 1+ views
    National Review ^ | 12/09/2010 | Victor Davis Hanson
    For the last two years, $250,000 in annual income has been an arbitrary line in the sand of a renewed class war. Those above it must have their income taxes raised. Those below it are deemed more virtuous and so deserving of a tax cut. But who exactly are the “rich”? Zillionaires such as Warren Buffett, Bill Gates, and George Soros surely are. But these wealthiest individuals have so much money at their disposal that they don’t care much about income-tax rates. Their tax lawyers have found ingenious ways to divert millions of what would be owed to Uncle Sam...
  • Did Republicans Secretly Blackmail Obama About Eligibility To Extend Tax Cuts?

    12/08/2010 6:45:53 PM PST · by Retired Intelligence Officer · 71 replies
    Did the republicans secretly threaten Obama they would raise the eligibility question with him in order to get the Bush tax cuts extended? The president automatically did a about face to his democratic constituents and to the voters who looked up to him to 'Stick It To The Rich' so he could 'Spread The Wealth' as he said he would do on the campaign trail. There is a reason more sinister I feel on why he did this that has the democratic elite in D.C. up in arms. I personally think that the republicans (since they take over the house...
  • Vanit: "No sweeteners" in the Tax Cuts Bill..

    12/08/2010 3:23:48 PM PST · by JSDude1 · 11 replies
    I | December 8, 2010 | Myself
    PERIOD: If the Democrats include a bunch of "sweeteners" in the stopping-tax-increase bill: Then the REPUBLICANS NEED TO KILL IT! This bill is already bad enough..we would be better with a "better deal" from "Longshanks" next year, when "we've sacked York"..!
  • Video: Olbermann: Obama May Not Only Not Get Re-Elected; “He May Not Even be Re-Nominated”

    12/08/2010 8:10:40 AM PST · by blog.Eyeblast.tv · 15 replies
    If waning support from Independents wasn’t enough, Obama now has cause for concern with his liberal backing as even Keith Olbermann is becoming visibly upset. During ‘Countdown’, Olbermann stated that Obama may not only get re-elected, “he may not even get re-nominated.” Before a deal on tax cuts were made, Dan Rather predicted if there were an extension of the Bush tax cuts it would be a “political nightmare” for Obama and said he could face a tough primary challenge in the next election.
  • DUmmie FUnnies 12-08-10 (DUmmies Give Up Hope...and Change)

    12/08/2010 7:31:47 AM PST · by PJ-Comix · 37 replies
    DUmmie FUnnies ^ | December 8, 2010 | DUmmies and PJ-Comix
    The DUmmies have given up all hope...and change as you can see by the very title of their THREAD, "We are f*cked." All because of the tax cut compromise proposed by Obama yesterday. What is really interesting about Obama's willingness to extend the Bush tax cuts is that is an admission by his administration that those tax cuts were effective in the first place and are important for the economy. When those tax cuts were first proposed nearly 10 years ago, the Democrats scoffed at them as being insignificant in helping the middle class. However, Obama is now admitting...
  • Move On. Org Turns Against Obama (Video Ad)

    12/08/2010 6:11:24 AM PST · by Ladycalif · 34 replies · 1+ views
    "President Obama is pushing a terrible "deal" to extend the Bush tax breaks for the rich. But progressive hero Senator Bernie Sanders has vowed to block it - and he needs help. Tell other progressives to help block the millionaire bailout."
  • The Democrat’s “middle class tax cut” is a populist red herring

    12/07/2010 5:28:02 PM PST · by Starman417 · 1 replies
    Flopping Aces ^ | 12-07-10 | Vince
    Note: This post was written before last night's agreement. That agreement does nothing to change the facts discussed in this piece or the conclusions drawn by the author. I want to make my priorities clear from the start. One: middle class families need permanent tax relief. And two: I believe we can’t afford to borrow and spend another $700 billion on permanent tax cuts for millionaires and billionaires. That is a line from President Obama’s weekly radio address last week. He’s referring to the coming tax hikes as the Bush Tax Cuts are due to sunset on December 31st....
  • Random Thoughts on the Tax Cut Compromise

    12/07/2010 7:19:09 PM PST · by The Looking Spoon · 6 replies
    The Looking Spoon ^ | 12-7-10 | Jared H. McAndersen
    I swear, if I went to prison and everyone was making shivs and voting Democrat, I would tell them my name is Mr. Fortherich. First name, Taxes. Liberals are really pooping themselves over this compromise. It's ok used to poop myself too when I was a baby... He wants to cut payroll taxes too? It's about time Obama turned his buzz saw to something other than the constitution. What do we have to do to make the GOP insist they be permanent, give Boehner a private jet? Wait a sec...A 2% cut in payroll taxes means what for social...
  • Obama struggles to keep Dems from killing tax cuts

    12/07/2010 5:56:31 PM PST · by NormsRevenge · 85 replies · 2+ views
    AP on Yahoo ^ | 12/7/10 | Stephen Ohlemacher and Charles Babington - ap
    WASHINGTON – President Barack Obama struggled Tuesday to prevent wholesale defections by fellow Democrats that could sink the tax deal he worked out with Republicans — angry opposition that could subject millions of Americans to a big holiday-season tax increase. Many GOP lawmakers seemed ready to embrace the Obama-GOP compromise and declare victory. The question was whether enough Democrats would join them in support, especially in the House, where liberal resentment of the president's concessions on tax breaks for the wealthiest runs strong. Obama went on national TV to give a ringing defense of his compromise, declaring it the necessary...
  • Obama Defends Tax Deal, Says He's Kept Promises

    12/07/2010 4:08:58 PM PST · by Biggirl · 11 replies
    http://news.yahoo.com/ ^ | December 7,2010 | Ben Feller
    WASHINGTON – With fellow Democrats balking, President Barack Obama declared Tuesday that a compromise with Republicans on tax cuts was necessary to help the economy and protect recession-weary Americans. He passionately defended his record against Democrats who complain he's breaking campaign promises. "Take a tally. Look at what I promised during the campaign. There's not a single thing that I haven't done or tried to do," the president said. He staunchly defended his decision to deal with the GOP in order to extend about-to-expire tax cuts for all Americans.
  • The Cowards Of Class Warfare

    12/06/2010 5:52:31 PM PST · by Kaslin · 9 replies
    IBD Editorials ^ | December 6, 2010 | Staff
    Fiscal Policy: Democrats stage a tax-cut charade in the Senate that pits job-seekers against job-creators. If this is what they want, why didn't they do it in the two years before Nov. 2? The biggest question about Saturday's back-to-back votes on extending the Bush tax cuts for low- and middle-income wage earners is why. Why now, when Democrats had control of the Senate, the House and the White House for two years and did nothing? If this effort to revive class warfare was so potent politically, why didn't they have such votes before the Nov. 2 election to stave off...
  • President Obama Falsely Claims the GOP Opposed Middle-Class Tax Cuts – Video

    12/07/2010 12:56:22 PM PST · by Federalist Patriot · 21 replies
    Freedom's Lighthouse ^ | December 7, 2010 | Brian
    Here is video from President Obama’s Press Conference today where he falsely claimed that Republicans had opposed extending tax cuts on the “middle-class.” Obama made the statement as he said he would oppose extending tax cuts for the wealthiest people in 2012, “just as I suspect the Republican Party may fight to end the middle-class tax cuts that I have championed, and that they’ve opposed.” Republicans never opposed middle-class tax cuts in this battle. Instead, the GOP wanted to extend the Bush Tax Cuts for ALL Americans. Obama is already trying to frame the 2012 Campaign around this issue. He...
  • Fears Grow That Tax Deal Could Be Torpedoed, As Durbin Says Democrats Could "Walk Out"

    12/07/2010 7:35:23 AM PST · by SeekAndFind · 51 replies
    Business Insider ^ | 12/07/2010 | Joe Weisenthal
    Remember we don't have a deal on taxes yet. We have a "framework" for a tax deal that needs to be scored by the CBO and then, of course, voted on. And there are definitely fears that the framework could be blown up by angry Democrats. Remember, the deal was cut between Obama and the GOP, without any real sign that Congressional Democrats played much of a role. So there are egoes to worry about. Sen. Dick Durbin, who voted for the Deficit Commission's recommendations, has already said Democrats could "walk out." Virginia Senator Mark Warner was on CNBC this...
  • Balancing the Budget, without Tax Hikes (Balancing it in 10 years... but do we have 10 years?)

    12/07/2010 7:03:21 AM PST · by SeekAndFind · 13 replies
    National Review ^ | 12/07/2010 | Kevin D. Williamson
    Nick Gillespie and Veronique de Rugy share the bad news: Since Bill Clinton left the White House in 2001, total federal spending has increased by a massive 60 percent in inflation-adjusted 2010 dollars. In fiscal year 2010, which ended September 30, the federal government spent $3.6 trillion, or 25 percent of Gross Domestic Product. That’s the most spending, in terms of percentage of GDP, since 1946. Likewise, last year’s $1.5 trillion deficit, as a percentage of GDP, was the largest deficit since 1945. Most economists talk about a debt-to-GDP ratio of 60 percent as a trigger point that makes investors...
  • OBAMA AND THE GOP UP TO OLD TRICKS

    12/07/2010 6:00:18 AM PST · by shortstop · 33 replies · 2+ views
    boblonsberry.com ^ | 12/07/10 | Bob Lonsberry
    They made a deal. Last night, Barack Obama and the Republicans in the Congress made a deal. They all worked together and played nice and got the people’s work done. Which should make me happy. Unfortunately, it doesn’t. Because much more working together like that, and our country will go belly up. I don’t want to be negative, and I’m not trying to be a jerk, but this deal is right out of the reality-denying past that has just about bankrupted our country. You’ve heard the headlines. The so-called Bush tax cuts are extended, “working families” get to keep some...
  • DUmmie FUnnies 12-06-10 (Obama tax cuts the last straw for DUmmies! DUmmieland in Meltdown Mode!)

    12/06/2010 9:42:31 PM PST · by Charles Henrickson · 71 replies
    DUmmie FUnnies ^ | December 6, 2010 | DUmmies and Charles Henrickson
    It's almost BEYOND Meltdown Mode. This has been coming on for a while now: The DUmmies' utter disappointment in their erstwhile true love, Barack Obama. And now with this betrayal on taxes, he's gone from Obamassiah to Judas Isbarryot. For the CENTERPIECE of the Obama campaign was his pledge to punish the rich by raising their taxes. But now. . . . Oh, well! So the DUmmies are beyond disenchantment. They are, in some sense, even beyond seething rage--they've been there for some time now. But this, what we saw today--this moves them into more of a settled opposition....