House refuses to take-up Tax Bill in present form

CNN | 12/9/10

[ichabod1]

They can’t blame the republicans for this. They still have the numbers. The pubs offered a solution. The pres_ent agreed. If they get up on their hind legs and refuse, well, they’re mostly going home anyway.

[Red in Blue PA]

[Red in Blue PA]

Do these crazies actually think they are going to get a better deal next year?

They are simply effing nuts.

[junta]

I’m taking it in all sides on Jan 1st, needless to say my sole propietership won’t be doing any expanding.

[ichabod1]

”for the wealthy...”

Anyone making less than me I look at with utter, vile, disgust and contempt.

Anyone making more than me I HATE with a WHITE-HOT, BURNING PASSION.

No Compromise As Long As ONE PERSON Who Makes More Than Me Gets One Thin Dime out of the deal.

[Publius6961]

Major correction.

The winners are the 40+% in the US that pay no income taxes at all!
In fact, I wonder if they still get that wonderful mythical beast, a tax "refund!"

How has that worked out?

[ichabod1]

• Individual income tax rates go from 10%, 15%, 25%, 28%, 33%, and 35% to 15%, 28%, 31%, 36%, and 39.6%.

• Child credit falls from $1,000 per child to $500 per child.

Hey, based on this, I'm not so sure I'm in favor of continuing the current rates.

[dfwgator]

Taxes are more than just the tax rates, there’s all kinds of shell games they can play, the A.M.T. is a perfect example.

[Publius6961]

I saved that image, but labeled it "US Economy, Dec 2010"

[WOBBLY BOB]

I’d love to see the EITC go away and everyone pay a flat tax rate.

[Deo volente]

Come Jan 1st the largest voting demographic the 15% tax bracket will take it in the backside when that rate skyrockets to 28%. At least that is my take.

A lot less money in the paycheck. That's going to hurt when it comes time to pay off those holiday bills. People are going to be hopping mad, and they'll have nobody to blame but the Dems.

[ichabod1]

Of course it will never occur to them that the Bush Tax Cut, which has been sold to them as “Tax Cuts For The R-I-I-C-C-C-H for all these years actually cut THEIR taxes from 28% to 15%, dropping many of them from the rolls entirely. They’ll NEVER get that, no matter how badly they get whopped upside the head with a cold mackerel.

[tx_eggman]

Big blow to WH.

Taking a page from Slick Willie's playbook

[Red in Blue PA]

That's going to hurt when it comes time to pay off those holiday bills.

From now until the end of the year, does anyone really think people are going to spend now? And what will this do to an already shaky economy?

This is the equivalent of taking medicine away from a dying man.

[maxter]

"2012 is just around the corner."

Yes but it is a long block.

[junta]

My WAG it kills local sales tax revenue come the first payday in Jan.

[ICCtheWay]

Well if the Republicans in Senate keep their word...then as long as the House does not pass the ‘compromise’ bill then the Republicans - as per their signing of the pledge - have no obligation to even consider passing anything else... including the Dream Act. And as we know there are some Republican Senators that we just cannot trust on such things as the Dream Act.

[xtinct]

whole tax bill thing is Obambi/Democratic theater...

How much money is Obama stealing from the treasury while this drama is being played out.

[juliej]

That is assuming that the Dems who are currently in congress care - they don’t. The lame duck session is lame.

[kevinm13]

This is why many of the dems lost in November. Idiots have no idea what the American people want or need.

We need to make sure that 0bama is tagged with the tax increases come January 1. It has nothing to do with President Bush and the tax cuts of 2001 and 2003, it is all 0bama, Pelosi and Reid.