Posted on 12/29/2012 8:28:06 AM PST by Qbert
(CNSNews.com) - President Barack Obama said on Friday evening that if he cannot make a bipartisan deal with congressional leaders before the Monday "fiscal cliff" deadline, he has asked Senate Majority Leader Harry Reid to bring legislation up for a vote in the Senate that would extend the Bush tax rates for "middle class" Americans only and extend unemployment benefits for 2 million Americans whose government payments would otherwise expire.
[Snip]
"But let’s not miss this deadline," he said. "That is the bare minimum that we should be able to get done."
“For the past couple of months I’ve been working with leaders of both parties a balanced plan that would cut spending in a responsible way, but also ask the wealthiest Americans to pay a little more," said Obama. "I still want to get this done. It is the right thing to do for our families, our businesses and our entire economy.
[Snip]
Ordinarily, according to the Congressional Research Service, unemployed workers are entitled to 26 weeks of federal-state unemployment benefits. However, since 2008, both President George W. Bush and President Obama have at signed legislation extending the duration of unemployment insurance benefits. At one point, workers in some high unemployment states were eligible for up to 99 weeks of unemployment benefits. Currently, some workers are eligible for 73 weeks. The latest extension program ends next week, however, and without a new extension workers would be limited to only 26 week of unemployment payments.
(Excerpt) Read more at cnsnews.com ...
"Obama's 'Fiscal Cliff' Bottomline: Spare Only 'Middle Class' from Tax Hike and Extend Unemployment Benefits Again"
Translation: Raise taxes on small businesses and increase spending.
Obama wants to spare the middle class tax hikes? So, is he getting rid of Obamacare?
Lower class citizens, bend over. Commiecare™ fees, fines and jail time are right around the corner.
They voted for this guy, let ‘em feel the boot on their necks for awhile. Maybe that will wipe the smirks off their faces.
F’em all, let it burn.
What’s up with that AMT, (Alternative Minimum Tax) tax of $3700.00 for households, taking effect for the 2012 tax year? Read this on a previous post. I’m sure I read it correctly.
Why, Barry?
If we are in such a dire situation, why is it important for only some to pay more?
Shouldn’t everyone pay more?
We have 16 trillion dollars in debt, Barry, and it’s only going to go up with your idiot health care.
Why is it so important to fund the governemnt for 8 extra days?
Why is it so important to divide the people of this country by sticking it to one group while rescuing the other?
Tell us, Satan, why is it so important to divide?
"Obama wants to spare the middle class tax hikes? So, is he getting rid of Obamacare?"
Yep. If the GOP leaders had any brains they would be out every day on their soap boxes reminding people of this.
“What’s up with that AMT, (Alternative Minimum Tax) tax of $3700.00 for households, taking effect for the 2012 tax year? Read this on a previous post. I’m sure I read it correctly.”
That’s for 2012. You can read it on google. Essentially it means that taxes for 2012 will go up on millions of people if it isn’t “fixed” again soon. The $3,700 number is probably just an average tax hit.
I hope the house sticks to their original proposal. Extend the Bush tax cuts for everybody or everybody goes over the cliff together. Postpone the unemployment until next year and use as a bargaining chip later. Obama gets nothing for free.
The marxists have been pulling this last minute stunt for years. It's time to break them of it. However this little manufactured crisis goes is how the next four years will go.
Bull crap! Anyone with one neuron still firing would know you don't raise taxes in a recession. Please tell me how, taking money away from productive citizens, thus leaving them with less to spend, and then taking that money and giving it to less productive citizens creates jobs? Not only is it stupid on the surface, the math is stupid as well. The gov't's expenditures multiplier (MPC/1 - MPC) is always one less than the private sector's expenditure multiplier (1/1-MPC where MPC = Marginal Propensity to Consume). Still, this is the best plan this hack can come up with? Come guys, grow some stones and give the productive sector some capital to work with and get this system going again and quit using our money to buy votes with free cell phones.
Idiots...
I have never been on unemployment, fot that I thank God and the work ethic given me by my parents.
However as I understand it when a person goes on unemployment th person they no longer work for has to foot a certain portion of that money they receive.
In other words a small business in hand with the Government is essentially paying people that no longer work for them.
When you extend Unemployment, that means that small business has to extend their payment also.
How can the Government expect small business to survive when they may be paying one, two , or more people who don’t work for them any more, and why would they hire anyone else who might get laid off and do the same thing?
Extended unemployment, and higher taxes is like syabbing small business in the back over and over again IMO.
Someone tell me if I am wrong.
“But let’s not miss this deadline,” he said.
Nah! Let’s DO miss this deadline. ANY ‘solution’ posed by either side is nothing more than postponing the inevitable, again.
We are going to experience an economic collapse due to 0bama’s profligate spending (in cahoots with the House and Senate, to be sure), and his demand for more, more, more.
It would be much better to have that collapse now, rather than later. The recovery will be slightly more tolerable.
Keep dreaming. They will lick the boot on their neck as long as the other boot is on yours and mine.
Keep dreaming. They will lick the boot on their neck as long as the other boot is on yours and mine.
Shut it down! Do nothing on anything. Don't hold a single vote on anything. Do absolutely NOTHING. Make those socialist bastards beg.
I was listening to CNBC last night, and Obama’s speech came on during one of the shows.
I have never heard harsher language directed toward this administration by any news agency than on that show, after his speech. One reporter called it his MO to get near a deadline, then pass it off to someone else...then mentioned that Reid can’t even get a budget for the past 4 years.
The interesting point one of the financial analysts made was that no one, other than Obama, could tackle entitlements without fear of losing the next election, so he should man up and do it. Of course, we know that’s not going to happen.
But the bottom line from the Wall Street types was if this “deal” doesn’t include entitlements, Wall Street and agency that rate the US credit rating, are going to react badly...I think the description used was “we’re going to hell in a handbasket.”
Checked the DJIA this morning, it’s in the red 226 points.
"I hope the house sticks to their original proposal. Extend the Bush tax cuts for everybody or everybody goes over the cliff together. Postpone the unemployment until next year and use as a bargaining chip later. Obama gets nothing for free. The marxists have been pulling this last minute stunt for years. It's time to break them of it. However this little manufactured crisis goes is how the next four years will go."
Exactly. The Dems will keep pulling this stunt to eternity, if they can get away with it: sandbag the economy and constantly talk about the "new norm" of 8-9% unemployment to depress people... and then pretend to be the only party that cares by luring voters with unemployment benefits. And since it's working, why would they stop?
I agree with you.The scum don’t care about Obama just the free s*** that he gives them. Might as well get it over with now rather than let Obama attain even more power.
Yes my friend, but I can live Amish. They can’t.
They’ll be the first to die.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.