Posted on 12/31/2012 10:27:08 AM PST by Behind Liberal Lines
Edited on 12/31/2012 10:42:55 AM PST by Admin Moderator. [history]
WASHINGTON (AP) — The contours of a deal to avert the 'fiscal cliff' emerged Monday, with Democrats and Republicans agreeing to raise tax rates on family income over $450,000 a year, increase the estate tax rate and extend unemployment benefits for one year, officials familiar with the negotiations said.
But with a midnight deadline rapidly approaching, both sides were at an impasse over whether to put off automatic, across-the-board spending cuts set to take effect on Jan. 1, and if so, how to pay for that. Democrats want to put off the cuts for one year and offset the so-called sequester with unspecified revenue.
Officials emphasized that negotiations were continuing and the emerging deal was not yet final. President Barack Obama was to speak about the status of the negotiations from the White House Monday afternoon.
The proposal in the works would raise the tax rates on family income over $450,000 from 35 percent to 39.6 percent, the same level as under former President Bill Clinton. Also, estates would be taxed at 40 percent after the first $5 million for an individual and $10 million for a couple, up from 35 percent to 40 percent.
Unemployment benefits would be extended for one year. Without the extension, 2 million people would lose benefits beginning in early January.
It’s possible this is a true story and there could be a deal emerging.
However it is also highly likely Obama wants everyone to THINK a deal is emerging and then at last minute say Republicans killed it (a lie) and say no deal. He would enjoy the drama and higher taxes. If there is expectation of a deal then the sheep that even follow this crap relax a bit and count on deal. Then when the deal is “taken away from them” they become angry and Obama will work to ensure that anger is directed at Republicans. we’re being played like suckers
... Conservatives have been complaining about Speaker Boehner since his first blubbering sob on camera when he first took on the mantle. He has done nothing but dance to the fiddle of this administration since that moment. Yet for some inexplicable reason ... he still holds the office of the Speaker.
The Prez knows how to push the right buttons out of the GOP for maximum effect and he is a valuable asset to Mr. Obama for that reason. Any ground that the Speaker thinks he has made .... will merely be reversed in the near future by this administration.
Republicans agree to further burden business owners with higher taxes, INCREASE the estate tax, and NO spending cuts? WTF? I am no longer a Republican! Someone tell me what party I should join. Running out of options!
Hey! Where’s my wallet?
Not a word about the run away spending. $4 Billion a day being borrowed. That’s the REAL fiscal cliff.
And keep plenty of vaseline handy. Here comes the cowardly Republican House, guiding the Democrats right in.
For the first time in my life I am ready to consider going turd party.
Assume the position....
Lucy... don't you dare.
Where did he find all these people on New Years Eve?
This will be followed by the condemnation for the mere idea that we should stop supporting the party that considers the sodomy of it’s base a sacrament.
In other words, Same poop, different day.
In other words:
Let me guess. The Republicans will fold like lawn chairs and the news media will report how Barry Hussein is a champion of the people. Say hello to higher taxes!
Praise Allahpeanutbutterjelly sandwiches!
Let’s hope Boehner didn’t throw in extending the fraud consent decree another ten years./s
LOL...Zero just said we need spending cuts to help avoid these spending cuts. What a tool.
homeless shelter or 'staycation'?(the "new normal")
I am about through with the whole thing to be honest. The conservative movement is thoroughly infiltrated with moderates at best. And they are proud of it.
They want Bohner style governamce, IE One party rule with the GOP as the movie prop.
The Republic of Norm, a small Country, POP 1, works for me.
Being agreed to by Republican Congressman Bendover.
We need to go over the cliff. The Socialists will NEVER implement spending cuts.. They are looking only to further bankrupt our free-market, capitalist Republic.. To DESTROY the private sector by further burdening small business owners. Slowly asphyxiating them while GROWING government jobs and increasing the power of federal agencies such as the EPA..
When Reagan granted amnesty, IN RETURN he was promised by the Democrats a massive border fence project. IT NEVER HAPPENED.
If the Republicans agree to higher taxes and IN RETURN be promised future spending cuts by the Socialists.. IT WILL NEVER HAPPEN.
And these stupid females at this press conference.. They adore their celebrity-in-chief, don't they? This man is not a president. He's 'Kardashian'.. Adored by the females who suffer from some kind of 'sexual fantasy the black man 0bama'. It's NOT funny. This is sick. We are sick.
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