Posted on 03/17/2008 1:33:18 PM PDT by lilylangtree
“While there is no quick fix to repair our struggling economy, more must be done to begin to reverse the economic mismanagement of the past seven years. Congress is prepared to work with the Bush Administration to help alleviate the serious economic hardship facing America’s families.
“In contrast to the President, we believe that further decisive action is needed now. We must consider extending unemployment benefits, providing food stamp assistance, and providing targeted fiscal relief to states to avoid cuts to critical services. We must also do more to help families avoid foreclosure, which is why I am pleased that Chairman Barney Frank is leading this effort in the House.
“I urge the Administration to carefully consider these proposals now before Congress and to again work with Democrats to restore consumer and market confidence and support hardworking American families.”
"Mary Landrieu Casts Deciding Vote to Keep 'Clinton AMT' in Place
40 percent of AMT Problem Could Have Been Fixed if Mary Landrieu Were On the Side of Middle Class Taxpayers
WASHINGTON, March 17--Late last week, the U.S. Senate, as part of its consideration of the FY 2009 budget, had an opportunity to kill the "Clinton AMT." Sen. Mary Landrieu (D-LA) cast the deciding vote to keep this unfair tax trap in place, ensnaring millions of middle class taxpayers. The amendment failed by a razor-thin 51-49 margin.
The "alternative minimum tax" (AMT) is a parallel set of income tax rules that primarily affect working families with children and who struggle to pay a mortgage. Originally intended to ensnare less than 200 high-income taxpayers in 1969, the AMT was never indexed to inflation, and now threatens to entrap nearly 30 million taxpayers.
President Bill Clinton made the AMT worse as part of his 1993 tax increase, the largest in American history. As part of that tax increase, the AMT top tax rate was raised from 24 percent to 28 percent. Clinton also failed to index the AMT "standard deduction" to inflation. President Clinton later vetoed a bill to repeal the entire AMT (including his contribution to it)--a bill which the entire current Democrat Congressional leadership voted against.
"The Senate had a chance to correct President Clinton's AMT mistake, and it very nearly did," said ATR President Grover Norquist. "Mary Landrieu was the deciding vote that blocked the repeal of the 'Clinton AMT.' It's clear that Sen. Landrieu is on the side of government tax collectors, not middle class American taxpayers."
The amendment, which was offered by Sen. Arlen Specter (R-PA), would have immediately reduced the AMT top tax rate to 24 percent, the pre-Clinton level. When combined with indexing the AMT "standard deduction" to inflation, 40 percent of the entire AMT problem is solved.
"Congress can and should repeal the entire AMT," continued Norquist. "However, a common sense, incremental step would be to repeal the 'Clinton AMT,' which gets us almost halfway there. Sen. Landrieu was the deciding vote that prevented us from doing even that."
Now, Puce Pelosi, what was that you saying again?
No doubt through the back door.
Why the ‘Barf Alert’?
Just because a dingbat Dem says it doesn’t always mean there is not some truth to it. Of course the Dems would have done just about as bad a job, perhaps worse but IMO this mess is the direct result of lousy Fiscal, Monetary, Energy and Trade Policies coupled with a complete failure of regulation at very many levels - with more of the same apparently in store.
Nancy: Dust off the various Five Year Plans that Russia tried in the 20s and 30s. One of them might work, this time.
Read the American Tax Reform press release listed in my response. There was an opportunity for the RATS to have helped the middle class taxpayers. But did they? Absolutely not. Pelosi is doing the same thing that the RATS have done since November 2000, “Blame Bush” mentality. Congress is RAT-controlled, why did Pelosi & Reid help. That would have meant expending too much energy when they could just use their big fat mouths and the media.
Of course Pelosi’s sure cure for the economy is to raise taxes and increase government spending ...that should REALLY help the economy.
I don't care for either party at this point.
In reality, neither do I care for either party or their candidates. But the reason I posted what I did was to show the hypocrisy. On one hand, Pelosi is blaming “the last 7 years” (another way of “blame Bush” mentality), yet when given an opportunity to do something like abolish the AMT or lower the tax rate of the AMT to give the middle class a break, the RATS continue with status quo. Bleah!
Same old bullshit keep repeating a liem so after awhile they will believe it.
I saw a great chart presented on the floor of the House last week by a great young congressman from Texas. It showed in stark terms how the economic woes — housing wreckage, gas prices, stock market, etc, began in earnest with the onset of the dim-o-wit takeover of Congress. Lolla Peloosi should probably not try to publicize this overly much.
There. Fixed it
Absolutely PERFECT RESPONSE!!! BRAVO!!! ENCORE!!!
In the past seven years government tax revenues have been at all time highs and unemployment has been lower than at any time during the Klintoon mis-administration. Nasty Pelosi is on crack again.
Jeb Hensarling - need more like him!
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