DC = Disectarian Carousers
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.
Oh goodie! They’re gonna pick up the turd by the clean end, I guess....
No spending cuts, no deal. Shout it from the rooftops.
McConnell should have asked to inspect his Birth Certificate.
I can’t speak for anyone else, but my affiliation with the Democrat Lite Party is over come Wednesday.
Republicans and Democrats will see these actions create even less revenue as economic growth will continue to sink. Yet, Democrats will not pay the price at the ballot box. Instead Republicans, being the more hypocritical Party and obviously far less politically intelligent than their Democrat cousins, will suffer the blame.
Yes indeed we will!
LLS
That is not true but go ahead and rationalize the failures of the Republican party if it makes you feel better.
At 12:00 midnight — less than nine hours away — the current Congress will be history. Every sitting Congressman and Senator will be out of a job when the ball drops in Times Square.
It’s impossible for a fiscal-cliff deal to be agreed to, then adequately studied, debated, and acted upon within such a short time.
When John Boehner presented his ‘’Plan B’’ last week, it included a provision stating that only those making more than a million dollars a year would have their taxes raised. But the majority of Republicans in the House rejected that.
Now, Obama’s new deal would require tax increases on many more earners since the threshold would be lowered to $450,000 at year. So how could the same Republicans who rejected Plan B be expected to approve Obama’s plan?
In any case, no honorable Congressperson, right or left, would approve a proposal on any issue vital to the future of America that was stuck in his/her face only mere hours before being required to act upon it. We’ll soon see how many honorable Congresspersons we have.
He is nothing but a street punk fagot and he is what he acts like.
LLS
The party insiders and well connected in government getting the big belly laughs.
Watch the audience of drooling fools applaud their favorite masked wrestler, as they perform their choreographed rehearsed moves..
Some people are just too damn stupid to figure out the Democrats and Republicans are all riding in the same limo.
Of course, others are hoping ya'all continue to buy into this epic conjob sham.
This is the end of the republicrat party. The outrage of conservatives will be white hot. McConnel is finished in KY and will lose his primary. Boehner will voice vote this CAPITULATION!! You watch. This is the most sickened I have ever been. Im finished with these bas^ar*s
LLS
Just heard Senator Corker say that they had a deal on the tax increases, but then Obama came forward and said that since now they will have more money in the treasury from the tax increases that they can now do without the sequestered budget cuts and wanted those off the table — a deal killer.
What I am surprised at is that he is surprised at this.
That is not true but go ahead and rationalize the failures of the Republican party if it makes you feel better.
Ladyjane,
Love you and all but I hardly am for the Republican party...I hated that they forced an idiot on us by the name of Romney and I knew he was another stinker. I wanted Santorum. However, I still believe that most people with huge financial money have trusts. If they don’t then they are really not being responsible.
I don't know if that figure is true, but I will give you the argument without asking you for a source link. However, consider this. Even if true, then that means that 67% of a single institution voted against Bath House Barry. Tell me of one other voting block that stood against Obama in those numbers? I can give you only one that was stronger than the military - white Evangelicals. Every other group, from Catholics, to seniors, to blue collar, etc, pales in comparison to 67% that voted against him.
Moreover, even if you number is true, does it even remotely justify the gutting of this nation's defense?
No, it does not.
You don't know what you are talking about.
Trusts avoid probate. But they only avoid estate taxes up to the gifting limit.
Sure raise the estate tax, "smart guy".
Yep - and they forget to mention that Clinton addressed a bunch of supporters and said that they might think he had raised taxes to mucch. His immediate follow-up was that he had indeed raised them too much...
The only reason I’m not ROFL is that I’m not sure it’s a joke.
33% seems likely, not sure though. Also, the Obama Flavor-aid is not just relegated to the enlisted or 0-6 and above trying to “currying” political favor, plenty of 0-1 to 0-5s believe the “Bush solely caused the economic disaster†meme.
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