Posted on 12/04/2006 11:24:06 PM PST by Anita1
Millions of entrepreneurs, teachers and parents with children in college have a financial stake in whether Congress, in the dying hours of Republican rule, revives tax breaks that expired 11 months ago...Residents of Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming - each without an income tax - will miss out on an average $1,500 deduction for state and local sales taxes...Before the election, Republicans tried unsuccessfully to link the tax cuts to a bill that would reduce the estate tax, which most Democrats find unacceptable, and raise the federal minimum wage, which many Republicans dislike.
(Excerpt) Read more at newsmax.com ...
The breaks, which expired Jan. 1, enjoy wide support in both parties. Precisely because of this, lawmakers have sought to add them as a "sweetener" to contentious legislation in hopes of getting that legislation through.
Before the election, Republicans tried unsuccessfully to link the tax cuts to a bill that would reduce the estate tax, which most Democrats find unacceptable, and raise the federal minimum wage, which many Republicans dislike.
Aides in both the House and the Senate said it was still possible to revive the tax breaks, with prospects best if the tax bill is not combined with other measures as Congress rushes to get out of town.
Negotiators say they have agreed that the proposal will cover two years, retroactive to 2006 and through 2007.
Businesses could be big losers if Congress fails to renew the research and development tax credit, which offers a 20 percent credit for new activities. One estimate puts the value of the credit to businesses at $16.5 billion.
I don't even want to think about what the next two years will be like for all of us under the Deomoncratic rule!
flat tax
Flat tax isn't on the table, kid. We lost that round.
i know im just out of tequila
and am hallucinating
Wait until the people who voted for higher taxes get the bill...they will really start hallucinating!
Serves them right!!
Unfortunately - we - those who Didn't vote for the "new conservative" Demoncrats- will suffer too!
This could be a big political issue in Florida. Surely the GOP is not going to hand it to the Democrats?
Everything is the property of The State; the Supreme Soviet will graciously consent to allow you to keep what is needed for your survival, so that you may thereby be enabled to produce more for The State. From each according to his ability, to each according to his need; this economic policy produces a loyal and subsevient proletariat in this, our collective Workers' Paradise.
And let's not forget that the purchase of votes from all those with a hand out is terribly expensive.
The voters want Democrats
They can enjoy the tax hikes
(I'm pretty much in a tell em all to go to hell kind of mood)
Tax paying voters don't want Democrats. We're just outnumbered by recepients who vote themselves a raise.
I'm going to change my name from John to Juan so this won't affect me.
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