Dems to Extend Bush's Middle Class Tax Cuts

Time Magazine ^ | July 21, 2010 | Jay Newton-Small

[2ndDivisionVet]

Just when you thought Congress was spent -- literally -- and done for the year they'll turn around and surprise you. No money left to do anything? United Republican opposition? Democrats are planning to take on the great white whale of spending: extending President Bush's middle class tax cuts. The cost is estimated from $1.6 trillion to extend them to as much as $2.7 trillion to make them permanent. According to Senate Democratic sources, the latter is what they're going to go for -- and they're planning to do it before the midterm elections.

[alreadythere]

Well, big whoop.

The Bush tax cuts won’t do diddly squat anymore. We have them now and we’re still getting killed.

The government has our schools, mortgages, auto industry, and we’ve got the Obamacare turkey, Kagan for SCOTUS, Financial Deform, the inevitable Crap & Tax idiocy, and most likely open borders amnesty — please, Bush tax cuts? Any advantage from it is already canceled out.

Washington is filled with elitist policy putzes using the old worn out 30-year-old shoe of failed socialism. Smell the stink of it (that includes most of the GOP). Unfortunately, we’re all getting fitted for our own pair of smelly socialist shoes. You’re gonna wear ‘um and you’re gonna like um’.

[Uncle Miltie]

Tax cuts for lots of average voters, good.

Tax cuts for particularly productive voters, bad.

I get it!

[massgopguy]

How do you 1099 a Bookie?

[4woodenboats]

I was thinking along similar lines, only that Obama will come up with some convoluted reasoning that this gives him the green light for the cap'n tax & VAT pirates to start unloading the booty from the port side while we're stacking the bullion to starboard.

Rats; they do their worst damage working in the shadows.

[CPT Clay]

they will talk about it between now and November

BINGO

[Constitutions Grandchild]

I noticed your tag line. Sadly, the America I grew up in has already become a memory. Whatever this particular moratorium on taxes accomplishes will be totally off-set by the new set of taxes in cap and trade and the health care bill. You will notice from the figures provided above in the thread, the only tax bracket that would not change under the lapse of the Bush tax cuts, would be the one where most of America lives - $15K-$57K/per year — that's a sop to the majority of voters (who do not pay the majority of taxes). The wealthiest tax brackets pay the majority of taxes. All this will do is keep the majority of voters from become over-taxed to the point of becoming bankrupt or tax evaders in order to survive. What this will do to those making above $139K per year is stall the economy (as they purchase the lion's share of goods and services and make the majority of investments in growth of economy). I'm sure there will be many loop holes left to off-set some of their misery, but you-know-what rolls down hill, and you know who will feel the most pain through attrition and the contraction of the economy — those making $15K-$57K per year. This entire package of economic tinkering will only lead to pain and suffering down the road. It is the only thing you can bank on — just how much it's going to hurt remains to be seen.

[CoastWatcher]

DON’T BE FOOLED! The demonic-rats in congress may pass a bill to get elected; knowing that Zero will kill it with a veto after the election.

[South40]

Time compares tax cuts to spending.

And these people have jobs?

[sodpoodle]

http://www.freerepublic.com/focus/f-news/2557222/posts

Nancy Pelosi rejects tax cuts for the wealthy!! Today’s thread.

[Springfield Reformer]

So, does that mean they’re incentivizing electronic filing? Because if I read you right, no mess at all if you file electronically. What would be the downside to that? Not a rhetorical question; I’m genuinely curious.

[gleeaikin]

What is the ratio of the dollar value of the tax cuts to the middle class (earning under $250,000 per year), versus the dollar value of the tax cuts to those above that figure which I assume are the cuts that will be allowed to lapse?

[Republican Wildcat]

The strange logic of the left that tax cuts “cost” something just goes on. They are not spending.

[ding_dong_daddy_from_dumas]

Only Time magazine and the dems could think cutting taxes is a spending measure....

Well said! Some pseudo-capitalists here on FR have claimed that tax cuts are a an example of "government intervention" helping the economy.

[gogogodzilla]

Actually, if JFK were alive today, he’d be considered too ‘right-wing’ to be electable by the Republican party.

He’d probably be in the TEA party.

[gogogodzilla]

By going into live interviews with the liberal media... then using the Socratic method to answer their biased attack questions.

IE: answer their questions with a question.

---

Anchor: “How can you support the Bush tax cuts? With our deficit so large, aren’t you just an anti-American looking to destroy our country through fiscal mismanagement?”

Republican: “Are you asking me how I could possibly support a measure to have the ordinary, average Joe keep his own money?”

Anchor: “Tax cuts have nothing to do with people keeping their own money! How could you support tax cuts when the deficit is so high?”

Republican: “What do you consider tax cuts to be, if not a measure that let’s the ordinary, average Joe to keep his own, hard-earned money?”

Anchor: “RACIST!!! DIE DIE DIE!!!”

Republican: “There they go again...”

(All caught on live TV)