Posted on 12/31/2012 9:32:12 PM PST by Ernest_at_the_Beach
President Obama and Senate leaders struck a bipartisan agreement late Monday to let income taxes rise sharply for the first time in two decades, fulfilling Obama’s promise to raise taxes on the rich and avoiding the worst effects of the “fiscal cliff.”
The agreement, brokered by Vice President Biden and Senate Minority Leader Mitch McConnell (R-Ky.), primarily targets taxpayers who earn more than $450,000 per year, raising their rates for wages and investment profits. At the same time, the deal would protect more than 100 million households earning less than $250,000 a year from income tax increases that are scheduled to take effect this month.
The deal came together barely three hours before the midnight deadline, after negotiators cleared two final hurdles involving the estate tax and automatic spending cuts set to affect the Pentagon and other federal agencies this week.
(Excerpt) Read more at m.washingtonpost.com ...
South Dakota’s so-called conservative Thune caves. I regret working for that worthless, spineless RINO.
And in Washington,....MSNBC is showing the Senate Floor with a lot of activity...I assume Voting or getting ready to vote.
Who were the 8 Senators that voted “NO!”???
Thanks for the info.
What a disgrace to the human race!!!
No’ votes: 3 Ds (Bennet, Cardin, Harkin); 5 Rs (Grassley, Lee, Paul, Rubio, Shelby) 8 posted on December 31, 2012 11:23:47 PM PST by GOPyouth
“So, the incoming Congress gets to vote on this, right?”
Not yet, from my limited understanding. I’ve been lead to believe that the lame ducks have until the third. Boner should double down, let the taxes go up and shut the damned federal government down.There is no deal, the senate can’t ram this down the throat of the house unless they allow it
That's a terrific link.
Wikipedia just nails the history.
No obvious political bias to my eye.
I remember now that I was very upset when Republicans agreed to extend the new debt ceiling past the 2012 election.
I felt Conservatives held at least 50% of the political high ground on the debt issue.
I saw one thing that gave me a little comfort.
I thought the Defense Budget was going to be cut $55 billion a year for 9 years if the “Sequester” became law.
No - just a one year absolute cut.
Then, a slow increase each year, but less than the expected rate of inflation.
Paul is the only one I can sincerely believe voted out of principle on this one.
Grassley is scared of being primaried, Rubio used to be Speaker of the Florida House where he had to twist arms to push “deals” through like this. He was put in by the GOP-E to take out Crist back in 2010 because of Charlie’s sex life vulnerability.
Lee has made conservative noises to get himself past Bennett in the 2010 primary. Shelby is from Alabama where someone like Roy Moore who is more conservative could take him out in a primary over this.
That’s my blunt and honest assessment of the situtation.
There are very few who have any principles down there.
Third party would be a tough choice, but don’t we need one to stand for real cuts in spending and a more immediate balanced budget before it is too late.....
Well said.
They did it in 1993 in raising taxes retroactively. They effectively raised taxes on people who died before they were enacted
GOP senators are not even speed bumps now. The house should be the ones to shoot this down
Not soon. The New Congress doesn't come in until Thursday. The old House is to vote on it today, Tuesday. If they pass it, the new Congress could vote on it again, but since the leadership in both houses will (probably) be the same, they won't. And even the House does, the Senate won't, just as they haven't voted on a budget in the last four years. Just as they didn't vote on the House bill passed in June, that would have avoided "the Cliff", not even on an amended version more to their liking.
We've been set up, and most knew it was a set up..except the R leadership.. assuming they wanted to prevent it from coming to this whole "end of the world" cliff thing, which is used to stampede the people into believing "Something Must Be Done", even the wrong something.
Is still in Congress, and will be next year. He was re-elected. He'd have had to resign only if he had been elected VP.
Sarah Palin, Conservative, VP
Never had any power in DC. She was a governor of Alaska, but she did resign after losing the VP election. She should not have, IMHO.
I knew it was a set up for failure when the debt ceiling “deal” was ballyhooed by the GOPe as a victory
Dang both my Senators appear to have voted for it, unless they didn’t vote at all. Kaye Baily is a real lame duck,since she’s not coming back, but is being replaced by much more conservative Ted Cruz. But Texas other Senator, Cornyn, should have voted NO if he wants another term at the trough. He’s up for re-election in 2014.
She was a governor of Alaska, but she did resign after losing the VP election. She should not have, IMHO.
= = = = = = = = = = = = = = = = = = = =
Maybe should have resigned PRIOR election, saying wanted to devote full time and attention, then, after loss should have sought that Senate seat.
Sorry, but she turned into a ‘media whore’ and a not very good one at that, those ‘reality’ shows and the actions of some of her offspring didn’t help as R’s had been complaining for years about Gore’s kids etc
BUT still an improvement over Gore and/or Biden.
Now that BO has ‘stolen’ the show (as it was ‘set up’ to happen) Biden and Reid will be in our face more than usual and more postulating and BO sneering the word “Republican” through terse lips and a whole lot of middle finger to the cheek and forehead.
Almost makes me want to watch the SOU to see how many time he ‘gives us the finger- actually as well as literally’
NAH, someone else can watch and I will take their word for it.
Boner will probably let pelosi sit in ‘the chair’ behind the pResident .....
With surrender conservatives like you, who needs enemies?
Why is the Senate creating a tax bill, all revenue bills must come from the House!
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