Posted on 12/15/2010 2:20:34 PM PST by IbJensen
(CNSNews.com) – House Majority Leader Steny Hoyer (D-Md.) would not rule out an attempt by House Democrats to further raise the estate tax above the rates set in the tax deal negotiated between President Barack Obama and Senate Republicans.
Hoyer also would not say whether such an effort would come as an amendment to the tax deal or as a separate, stand-alone bill.
Speaking at his weekly press briefing on Tuesday, Hoyer said there was “concern” among House Democrats over the estate tax compromise that contributed to the deal getting a “pretty cold” reception from many Democrats and some Republicans.
Hoyer noted that in December of 2009, House Democrats passed their own estate tax plan that would have raised the rate to 45 percent on incomes over $3.5 million. Currently, the tax rate is set to rise from zero to 55 percent on incomes over $1 million. The Obama-GOP compromise caps that rise at 35 percent on incomes over $5 million.
Many House Democrats, Hoyer included, think that the rate negotiated by the president is too low and that the income cap is too high. Hoyer did not rule out action by Democrats on the estate tax.
“We’re going to discuss what we’re going to do,” he said, when asked if the overall package might be held up by estate tax concerns. “We’re going to have discussions [about it]. I’m going to advocate for what I think gives the House the ability to reflect its view [on the estate tax].”
Many Democrats, Hoyer said, wanted to do something about the estate tax, characterizing it as a desire to “express their view.”
“There are many members of the House that want to reflect their view on a number of issues in the bill and we’re going to discuss that tonight,” he said.
“We passed $3.5 [million],” Hoyer continued, referring to Democrats’ 2009 estate tax bill. “We’ll see what we’re going to do.”
Hoyer said that he thought a possible estate tax change would probably come as an amendment to a Senate-passed tax deal, saying that House Democrats’ position on the tax was “pretty clear.”
“We haven’t decided that yet [amendment or stand-alone bill] -- that’s being discussed,” Hoyer said. “I think that will be in the context of the tax bill.”
If the Republicans cave and agree with all of this crap, the American People will be incensed.
congress spent $3.5 trillion **last** year. they only bring in $2 trillion via taxes.
and on top of that, they sent $3.3 trillion to europe last spring. that’s at least $6.8 trillion THIS YEAR ALONE
i work hard for MY money... they take it, under threat of violence, and squander it worse then the mob ever did.
we need to stop funding this insanity. we need to stop sending them our hard earned dollars... taking the power out of their hands.
I guess the democrats figure as long as they’ve got the dead vote wrapped up it doesn’t hurt to raise the taxes on them too. No representation without increased taxation and all that.
Do you have a link on that?
well then, what on earth possesses the GOP to think they have a deal?
Because they’re naive and utterly stupid!
It seems like they haven’t ruled out a whole lot of stuff!
If this happens and is passed the GOP’ers will cry, jump up and down then say they can’t do anything about it. Sorry folks. I have lost all faith in any of them. Even the Tea Party folks. Maybe I’m just having a bad day........
Would someone tell me why why the money we paid taxes on should be taxed again? The gubmint just aint for us, folks! It seems we are to be forced to for them!!!!!
Republicans can do nothing. The American people are being held by corrupt anti-American communists. After January, we will still be very handicapped and will not be able to stop much. Funding doesn't mean jack crap to the communists (King Obama along with his communists Administration and the entire Democratic Party). If we do not get the Senate and Presidency in 2012 you better get used to be living under a dictatorship.
The Congress does not have to fund any of it. Congress has the power of the purse. The same way the RATS rammed through all of this stuff, the Republicans can RAM through the antidote. USE THE RULES THE WAY THEY DID!!! The Senate Republicans can filibuster almost anything they want to. Only RINO collaborators can enable the communist takeover of America.
IT ONLY TAKES COURAGE to stop it.
Yup.
Democraps are grave robbing communist pigs!
The ultimate wealth re-distribution.
there should be no estate tax. period. F**K all the democrats, they are enemies of America
Debate? What debate? These bozos would make Nixon look positively transparent in comparison.
Google is your friend. Google( $3.3 trillion Europe )
http://www.cnbc.com/id/40453506/Fed_Discloses_Details_of_3_3_Trillion_in_Crisis_Loans
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