Posted on 07/25/2012 7:00:28 AM PDT by Qbert
The White House has launched a new offensive in its fight with congressional Republicans over taxes, arguing 114 million middle-class families will see their taxes rise without action by Congress.
A report from President Obama’s National Economic Council released Monday contends the families would see their taxes rise by an average of $1,600 if the George W. Bush-era tax cuts expire as scheduled at the end of the year.
The report is the latest effort by President Obama to corner Republicans on taxes.
The GOP has argued that all of the Bush-era rates should be extended for a year, and the House is expected to vote to approve that extension next week. The Democrat-controlled Senate is expected to vote this week on legislation to extend tax rates only on those with annual income up to $250,000. Senate Republicans are pressing for a separate vote to extend all of the tax rates.
Republicans believe the fight will work to their advantage, as they argue Obama's plan would amount to a tax hike on millions of small businesses. But Democrats believe the contrasting votes will highlight their party's support for the middle class. It dovetails with Obama's reelection argument, that congressional Republicans and GOP candidate Mitt Romney will put tax cuts for the rich above priorities for the middle class.
Neither effort is expected to reach Obama’s desk, so the votes — and the new White House report — are primarily about the fall campaign.
“Today, while Republicans and Democrats in Washington rarely see eye to eye, everyone agrees that extending middle-class tax cuts will give working families and our economy a little more certainty at this make‐or‐break moment,” the report says. “So far, the only reason the middle-class tax cuts have not been extended is that Republicans in Congress continue to insist on cutting taxes once again for the wealthiest few.”
Sen. Patty Murray (Wash.), the Democratic co-chairwoman of the 2011 deficit-reduction supercommittee, said last week that Democrats would let income tax rates rise across the board if Republicans refuse to drop their opposition to raising new taxes. Senate Democratic leaders have endorsed her declaration.
A spokesman for House Speaker John Boehner (R-Ohio) said it was “troubling” that Democrats were willing to allow tax cuts to expire en masse.
“This ‘report’ states the obvious: raising taxes is bad for the economy,” Brendan Buck told The Hill in an email. “That’s why it’s troubling that the President would be willing to destroy more than 700,000 jobs by allowing taxes to go up on so many small businesses and families.”
Alexander Bolton contributed to this story.
My thoughts exactly. You beat me to it!
It’s about $3000 for me and mrs. jimfree. I asked my church treasurer and pastor 3 years ago something like “When Obama raises my taxes to act as my brother’s keeper by how much should I reduce my church pledge?” Oh, they were both sympathetic.
Has the Boehner House sent the Senate a house passed bill that extends all the tax cuts beyond January 1?
Or like Obama are they just playing this for the election?
They passed that ‘repeal Obama-care’ bill over 30 times now, none of them gone anywhere.
Why should the people at 1m or more be singled out? I think everyone should pay the same rate. Let’s dump the progressive system. While I’m not close to the 1m mark, if everyone paid the same tax rate I do, the second american revolution would start tomorrow
Last two times it was seniors and military checks. When do people learn to see through this thuggery of intimidation?
If the President gets his way, that increase on “the rich” will fund how much of the government? I seem to recall something like 4 days of spending....
Not only is he flat out lying, he is also disengenous with the proposal. Even his own party hack members have come out with the talk of already extending the tax increases to the middle incomes. In fact, his own proposal increases the taxes on “the rich” in Jan 2013 and then increases taxes again on the lower inocmes in Jan 2014.
Lying liars lie and the drones remain enthralled.
They did, they voted to extend all the Bush tax cuts, those cut taxes for everyone, but most of it was for middle class and lower.
If Republicans agree to only middle class tax cuts they would be voting to crash the economy by forcing employers to lay off workers.
2-3% of small businesses create over 50% of jobs, and they would be hit hardest by this tax increase.
The stupid voters will vote Obungo anyway, better to vote for what is best for the Nation and explain why to those voters with enough sense to understand.
Excellent point! I won't hold my breath waiting for anyone from the media asking him that question. Or the question of where Syria got those chemical weapons.
They shouldn't. Frankly, I think the Dems would go running as fast as possible in the opposite direction if the Pubbies proposed something similar to what I've stated. They know it would shut down their political game.
I think everyone should pay the same rate. Let’s dump the progressive system.
I agree. Lets do away with all the write offs as well. We could certainly save a bundle in tax money by slimming down the IRS as a result of simplifed tax law.
Good point. I do like your idea better than what I suggested.
Harry Reid, Nancy Pelosi, and Obama stand as a celebration of the liberals’ collective ignorance and a tribute to the liberal avoidance of reality.
“You can avoid reality, but you cannot avoid the consequences of avoiding reality.” ― Ayn Rand
Or even better dump the income tax altogether and initiate the fair tax
This is where everyone gets it absolutely wrong. They are not our taxes, they are their taxes. We do not vote to raise taxes and take food out of our families mouths, they in Con-gress do.
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