Posted on 12/06/2010 4:13:56 PM PST by USALiberty
President Obama and congressional Republicans have agreed to a tentative deal that would extend for two years all the tax breaks set to expire on Dec. 31, continue unemployment benefits for an additional 13 months and cut payroll taxes for workers to encourage employers to start hiring.
The deal has been in the works for more than a week and represents a concession by Obama to political reality: Democrats don't have the votes in Congress to extend only the expiring tax breaks that benefit the middle class. The White House estimates that the proposed agreement would prevent typical families from facing annual tax increases of about $3,000, starting Jan. 1.
Obama was able to extract an agreement from GOP leaders to support an additional 13 months of jobless benefits, a 2 percent employee payroll tax cut and extensions of several tax credits aimed at working families that were included in the stimulus bill.
(Excerpt) Read more at washingtonpost.com ...
And it solves nothing. Just pushes the can down the road. Only way problems will be solved is after it is way too late. Federal bankruptcy or worse and it may be too late already. No guts, no glory, no meaningful solutions.
“Gentlemen, we’ve got to do something to protect our phoney-baloney jobs.”
I just heard Obama's announcement of the new deal (tax rate extended, Unemployment extended, etc.) Why did you guys cave? All that you had to do was to hold out for another month! Why give up when they are gasping for air? Are there any real men in Washington anymore?
Roger that EGPWS. This is a perfect setup for the stupid party. They think they have an issue for the next election.... Obama will own this issue by saying ...see I cut taxes and it didnt work now we are gonna do it my way.
RINOs made sure Obama got elected. The fix was always in. We ain’t buying RINO crap sammiches no more. NO DEALS, capiche? Loser!
Republican sellout? The Democrats control the presidency and by large majorities control the House and Senate.
Wong wrong wrong.... the extension is to short to boost the economy. Unemployment will stay high and Obama will own the issue...See it didnt work...
The stupid party really is the stupid party....
Obama will be reelected and the demos will gain in the house and senate
What good would that have done? The Republicans don't have a majority in the Senate, so any law would have required brokering a deal with the Ds.
Moreover, the reason why these tax cuts had sunset provisions in the first place is that the Rs didn't have the votes necessary in the Senate to make the cuts permanent, and that was back when the GOP controlled 57 seats or whatever it was.
A deal was going to be made at some point. As far as deals go, this doesn't seem like a terrible one, and it's a blow to Obama's base. More troubling from the GOP perspective is this: does this deal signal Obama's shift to the center, ala Clinton in 94?
Oh, you’ve got one of those, too?
Yeah, my sister is happily unemployed so she can stay home and shop for furnishings for her new house and supervise the
work on her new patio, all while watching the “free” money roll in.
She was hoping for an extension. Looks like she got her wish.
Hungry bellies fuel revolutions....it's not time yet.
“WE the people” This is where this is all wrong. It’s WE. Reagan, the last smart president, remember the Soviet missle attempt...demanded all or nothin. And the Soviet’s backed completely off.
Here, the demand should have been FOR ALL, or nothin. ALL unemployed (not those only who are coming off U.E.), should have the EXACT same benefits (”equal rights” their mantra). Instead we have in reality DISCRIMINATION against the rest of the unemployed.
Demand all or nothin..and this whole inside for Beltway deal would have “vanished”....
Don't have the votes. Permanent tax cuts require 60 votes in the Senate due to the Byrd rule. Where are you going to get 60 votes?
Tax cuts can sunset with 50 votes, which gives the Rs more room to work.
The only way to get a candidate who thinks and acts like you is to run.
Not kidding, give it some thought. Not necessarily Senate, something local- really.
There's no evidence that the Republicans even fought this fiasco. Based on past performance, it seems to me we just rolled over, reached across the aisle, and made nice with the democrat Marxists... again.
Most Americans: "Tax the rich but not me"
"The Quinnipiac University poll found that 60 percent of Americans among both major political parties think raising income taxes on households making more than $250,000 should be a main tenet of the government's efforts to tame the deficit. More than 70 percent, including a majority of Republicans, say those making more than $1 million should pay more.
CNN Poll: Only one-third favor tax cut extension for wealthy
Personally, I think they should have gone on record supporting a permanent extension of the status quo.
Further more the pubbies should be calling for even more tax cuts...especially on Capital Gains and dividends.
Without an immediate repeal of obama care, a substantial across the board cut in spending, forgiving of repatriation taxes as well as a drastic cut in Corporate taxes, this two year extension will mean nothing.
The dems will use this to prove that tax cuts don't work....and the game goes on and on and on.....
And imo, that is just the beginning and yes I know I'm dreaming. But that would be a healthy start.
I think what many here are forgetting is that this is the “lame duck” session, and while the GOP Senate may be able to block what Obama and the Dim majority want, now, they are not yet in the position they will have in January when they will be in charge of what is approved in the House.
They are at this time in a “glass half full” position, and they got half-a-glass.
Wait until January and beyond January. These fights with Obama are not over with this skirmish, when they do not yet have the House majority.
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