Posted on 12/13/2010 11:40:41 PM PST by onyx
_resident Obama's $858 billion tax package won a huge bipartisan majority in the Senate Monday evening, setting it up for a contentious debate in the House.
In a 83-15 vote, the Senate quashed a filibuster by Sen. Bernie Sanders (I-Va.).
Fifteen lawmakers voted against it, including five Republicans: Sens. Tom Coburn (Okla.), Jim DeMint (S.C.), Jeff Sessions (Ala.), John Ensign (Nev.) and George Voinovich (Ohio).
Nine Democrats and one independent voted against the bill: Sens. Jeff Bingaman (N.M.), Sherrod Brown (Ohio), Russ Feingold (Wis.), Kirsten Gillibrand (N.Y.), Kay Hagan (N.C.), Frank Lautenberg (N.J.), Pat Leahy (Vt.), Carl Levin (Mich.), Mark Udall (Colo.) and Sanders.
“It makes no sense to me to provide huge tax breaks for millionaires and billionaires while we drive up the national debt that our children and grandchildren will have to pay," Sanders said in a statement after the vote.
~snips~
A vote on final passage could happen as soon as Tuesday if opponents agree to waive the 30 hours that must elapse after a vote to end a filibuster.
Given Monday’s lopsided vote, the package is expected to win final passage easily, which one Democratic leadership aide predicted would “likely” happen on Wednesday.
Obama said he understands members of both parties are "unhappy" with the compromise, but he said the package is "first and foremost" a "substantial victory" for middle-class families.
(Excerpt) Read more at thehill.com ...
Why should they? It's not like there are any consequences to them.
Like I've said before, we could lock up all of them and be right 90% of the time.
How does that get us out of this financial mess?
The higher earners use more of the system and its resources to gain income.But John Doe eats his oatmeal and walks to work but pays a higher percentage in taxes compared to higher earners with all their exemptions.
I'm guessing that you haven't done much research into who pays taxes and who doesn't if you are making statements like this. Since the Bush tax cuts were implemented, the high income earners are paying a larger share of overall taxes than ever before. John Doe either pays no income taxes at all, or he pays a lower percentage of his taxes after the Bush tax cuts than he did before, and he is carrying a lower percentage share of the overall tax burden than he did before. As for exemptions and deductions, those are phased out for higher income earners. Can you cite a single specific provision in the tax code to support your regurgitation of the marxist democrat class warfare talking points?
Do not know if that statement is yours or you got it from somewhere, but I think it's great!!! That needs to be stated over and over.
It really describes my feelings about the Republican party right now. They keep getting dealt straight royal flushes and always fold to a Marxist's pair of Jacks.
The unfortunate thing, they're using our money to bet before they fold.
That just perfectly describes the current situation....Thank you for the analogy .
Right now I have as much confidence they'll fight (even after January) as I had that George W would eventually kick Rat and MSM ass!
Look who we have leading the charge in the House, crybaby John Boehner, I mean get real! The guy needs a talking to by a former Marine drill instructor/insurance salesman.
And look what we have leading the minority in the senate, Mitch McConnell who has the forcefulness of wet cardboard against cement and kind of looks like a piece of old wet shriveled up cardboard when talking.
You can see that the old Cajun will probably be in a foul mood today ;^)
These corrupt bastards, all of them, must be eliminated in the 2012 primaries.
They have betrayed us.
DeMint, Coburn, and Sessions BUMP.
I was glad to see DeMint get out in front of this Mini-Porkulus bill and take the stand he did.
These guys did the right thing.
I made 70K last year. My total tax paid (fed, state, ss, medicare, food, gas, utilities, etc.) as a PERCENT of my income is the highest of all income levels.
Is that the actual bill? I don’tknow. The idiot WH press spox, Gibbs, claims the bill has been on line for days, for everyone to read and review.
It’s my undrstanding that $858 billion = $534B are keeping Bush tax rates the same, and the other BILLIONS go for obama and the unemployment bennies and his spending sprees called “tax cutes” like the ethanol, etc.
And the spending ROLLS ON. :)
Pay your taxes - your government really needs the money.
You betcha they’ve betrayed us and now with this $1.1 TRILLION DOLLAR BUDGET, the idiot GOP should put a stop to everything until that monstrosity is dealt with properly.
It’s almost 2000 pages of pork and earmarks!
Cajun, these people had better get a clue and grow a pair quickly. $1.1 trillion budget - almost 2000 pages and Reid just said he would work the lameduck though the last possible day into January to get his anti-American agenda done!
Rebellion is brewing!
You didn't need the /s for that! LOL.
Now’s there’s talk about a compromise of 40% on the dead’s “wealth.”
!!!!!!!
NO!
When you say you made 70K, I assume you are talking gross income rather than taxable income. This would put you either in the 15% or 25% marginal tax bracket at the current (w/ GWB tax cuts) rates.
If you are married, filing jointly, with two kids, you would have $14600 in exemptions, a standard deduction of $11,400 (assuming you don’t itemize) which would make your taxable income somewhere in the neighborhood of $44,000, and your federal income tax would be $5,765 which is 13% of your taxable income, but less than 10% of your gross income. With the child tax credit the tax would even be less.
If I was wrong in my assumptions and you are single with no kids, then your standard deduction would have been $5,700 and your personal exemption would be $3,650 leaving you with taxable income of $60,650 and a federal income tax bill of $11,350 which is 18.7% of the total taxable income.
As for state, ss, medicare, gas, and utilities, those taxes are high for everybody. Unless you are eating out a lot, most food items are not taxed. So your total tax bill is not as high as a percentage of income than someone making two or even three times as much as your income since their ss and medicare taxes go up with their income, their state taxes are probably substantially higher since they will have a higher property value house with attendant higher utilities, etc.
Of course, if the Bush tax cuts are allowed to expire your marginal tax rates (at every income level) will go up and your taxes will be much higher.
In a 83-15 vote, the Senate quashed a filibuster by Sen. Bernie Sanders (I-Va.). Fifteen lawmakers voted against it, including five Republicans: Sens. Tom Coburn (Okla.), Jim DeMint (S.C.), Jeff Sessions (Ala.), John Ensign (Nev.) and George Voinovich (Ohio). Nine Democrats and one independent voted against the bill: Sens. Jeff Bingaman (N.M.), Sherrod Brown (Ohio), Russ Feingold (Wis.), Kirsten Gillibrand (N.Y.), Kay Hagan (N.C.), Frank Lautenberg (N.J.), Pat Leahy (Vt.), Carl Levin (Mich.), Mark Udall (Colo.) and Sanders. "It makes no sense to me to provide huge tax breaks for millionaires and billionaires while we drive up the national debt that our children and grandchildren will have to pay," Sanders said in a statement after the vote.Thanks onyx.
Bingaman no doubt voted no because of the continued tax break given high income earners, those most likely to operate small businesses and create jobs.
Meanwhile, environutters here in NM are overjoyed because Obama's Fish and Wildlife service is proposing to list a little three-inch lizard as endangered which will stop oil and gas drilling in SE NM and west Texas.
The oil and gas industry provides both the lions share of jobs in the the private sector plus royalties keep the cost of education down and recharge the state's coffers that would otherwise be filled with increased taxes.
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