Posted on 07/22/2010 10:51:58 AM PDT by Sub-Driver
Pelosi rejects extending Bush tax cuts for wealthy By Michael O'Brien - 07/22/10 11:42 AM ET
House Speaker Nancy Pelosi (D-Calif.) on Thursday rejected extending tax cuts for the wealthiest tax bracket that are set to expire at the end of the year.
Pelosi took off the table a short-term extension of those cuts floated by some lawmakers in her own party.
"No," the speaker said at her weekly press conference when asked if the cuts for the highest bracket should be extended. "Our position has been that we support middle-class tax cuts."
The cuts implemented by President George W. Bush and Republicans in Congress are set to expire at the end of the year, allowing income tax rates to spring upward. Democrats have begun exploring a potential extension of the cuts, but only for households earning less than $250,000 per year.
"I believe the high-end tax cuts did not create any jobs, increased the deficit and should be repealed," she said.
A number of Democrats in the House and Senate in recent days have said they'd favor extending all of the tax cuts, partly because of the economy and partly because they fear any tax increases would be used against them in this fall's elections.
GOP lawmakers have hammered away at Democrats over the expiring cuts, incorporating them into their election year argument that Democrats would seek to raise taxes.
One option discussed by members of the House Ways and Means Committee would be to raise tax rates on families making more than $250,000, but delaying the rate increase until 2012.
(Excerpt) Read more at thehill.com ...
I’d venture to say that most if not all $250K+ income types employ at least one person.
Increase their taxes and watch them cut back on employees.
Discrimination. It would be interesting to see what liberals would do if the vast majority of the wealthy weren’t white.
Yup, make sure those small businesses are driven under. That will create more dependent donk voters.
Way to go, Pelosi!
/HURL
Obviously extending the capital gains tax cut to only the poor would stimulte the economy because poor people flip their food stamp benefits on a regular basis.
Wow. Another BIG surprise.
What’s next? How about repealing the law allowing deducting mortgage interest? I’ll bet these creeps are already talking about this.
She’s already figured out her exemptions for her vineyards, hotel employees, etc....it figures. Prolly even squeezed in some kinda exemption for that hide-tanner that stretches the damn skin on her neck.
>Pelosi rejects extending Bush tax cuts for wealthy
Tax rates are dtermined by income, not wealth. Is the headline a deliberate attempt to conflate the two?
Nancy's definition of "The Wealthiest" are those who haven't lost their jobs yet...
Pelosi is wealthy, but somehow I don’t think she’ll be paying more taxes, regardless of what happens.
Comrade Stalina demands your money as if it were her own.
Ask Pelosi why she and other members are exempt from higher taxes.
Doesn’t the Bush Tax Cuts also include an increse to the child tax credit from $500 to $1000 per child?
“Discrimination. It would be interesting to see what liberals would do if the vast majority of the wealthy weren’t white.”
Give it time. The way things are going now, to be wealthy will mean working at the DOT.
I have a dream... one day we execute this b!tch after a trial and conviction for treason.
LLS
Pelosi’s animal-instincts are correct even if her policy analysis isn’t. To support the Bush-era tax-cuts contradicts the core premise of Democrat rule, the primacy of the public sector as driver of growth and social justice, as if growth were possible as an act of administrative or legislative fiat, and as if social (or distributive) justice didn’t contradict any commitment to growth.
Where would the Democrats get the money from to hand out to their supporters? Democrats have corrupted the system. All it takes is the promise of a little money.
I guess she just cost herself some moolah! Doesn’t she fit that “wealthy” definition?
Nancy’s economic plan.
Too nuanced for you?
You tax the wealthy (who would have provided jobs).
That tax is then used to pay unemployment benefits in perpetuity.
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