Well, this conservative is hoping we go off the cliff..but I suspect Crybaby and Chinless will cave.
Posted on 12/31/2012 12:35:26 PM PST by RummyChick
A senior Republican Senate aide passes along the tax terms of the deal being worked out by Democrats and Republicans on Capitol Hill and the White House to avert the "fiscal cliff." These terms are "locked," says the source, between Senate Republicans and the White House:
· Permanent extension of current rates on income below $400k (singles) and $450k (married).
· Permanent 15% rate on cap gains and dividends for income below $400k (single), $450k (married).
· Permanent 20% capital gains & dividends for those above $400k (single), $450k (married).
· Permanent death tax at $5M exemption but a 40% Rate (as of tomorrow, exemption would be on estates valued at $1m at a 55% rate)
· Permanent AMT patch
· One year extension of 50% Bonus Depreciation
No changes to the already scheduled sequestration cuts have been "locked," I'm told.
Any spending cuts? I doubt it. The only way to have meaningful spending cuts is to go off the “cliff.”
Barry got everything he wanted. I wonder what McConnell got?
As permanent as the next congress. Nothing is permanent in government except spending programs.
Obama’s Call for More Revenue Next Year Angers GOP Senators
“Revenues have to be part of the equation in turning off the sequester, as well as spending cuts,” Obama said.
Immediate reaction from Republicans to the president’s demand for even more revenue, as well as his shots at Congress, was sharp.
Sen. Bob Corker, R-Tenn., took to the Senate floor to say Obama might have alienated Republicans who were tentatively ready to support the current cliff deal, which would push decisions on the sequester and other budget issues to the new year. “I think he’s lost numbers of votes with what he did. He didn’t lose mine, I’m not like that,” Corker said.
Sen. John McCain, R-Ariz., said the president’s remarks were a “cheerleading, ridiculing of Republicans exercise.”
He added, “I have to wonder, and I think the American people have to wonder, whether the president really wants this issue resolved or is it to his short-term political benefit for us to go over the cliff.”
McCain also noted that he believes the president’s statement “clearly will antagonize members of the House.”
But Senate Minority Leader Mitch McConnell, R-Ky., focused instead on getting a deal he said was in hand on the tax side of the cliff. He said lawmakers should move ahead and set aside the sequester and other issues for another day.
And while Obama’s comments caught Republicans by surprise, at least substantively they were largely consistent with previous statements he has made about his continued desire to put together a large, balanced deal to reduce the deficit, even if it has to be done in separate pieces.”
Taxing “the rich” was just the camel’s nose. Now, it’s going to be the middle class’ turn to be ridiculed for not being “patriotic” enough to demand that they too be allowed to pay higher taxes. Barack the Kenyan and his ‘RATS will be out there in less than 6 months parading around a bunch of “middle class” useful idiots (probably paid union actors) telling us that it’s not fair to have only “the rich” pay for Barry’s BIG nanny state government. The useful idiots will be on their knees on TV begging “The Won” to raise their taxes. You can take that to the bank.
...and at that time the RATS will want to increase taxes on the rest of us and the exalted GOP will go along. In the meanwhile, other assaults on our freedoms and inalienable, God-given rights will continue with the GOP in agreement.
To expect otherwise is sheer folly.
Face Time!
call GOP Congressmen , tell them not to vote for this nor any deal , go over the news media’s stupid cliff:
Congress switchboard number: (202) 224-3121.
How could they have made then permanent?
The spending cuts in the sequester are still there.
The Dems wanted to remove some of them now.
Doesn’t sound very good nonetheless. If the House RINOs don’t fold this may not pass the House.
We are VERY curious about that here as well. I’m not entirely sure that was part of the original “evil Bush tax cuts” legislation, so I’m unsure. For some reason, I seem to recall that tax credit coming a bit later.
I wonder if the House will go along with these.
Where are the entitlement spending cuts?
They should have been made as baseline tax code changes not with an expiration date. It was McCain that kept that from happening. If they were the base line tax code then an affirmative action would be needed to raise rates, as it is an affirmative action is needed to keep rates where they are at. Obviously which ever side has to make an affirmative action to keep what it wants has the weaker hand in negotiations.
Well, this conservative is hoping we go off the cliff..but I suspect Crybaby and Chinless will cave.
Unless you believe that those on the Left might believ that there will be a time in the near future when they have the votes in both Houses to decide that "permanent" really menat "for a while". Permanent taxt rates is like temproary taxes - how often have you seen temproary taxes be lifted at the end of the proposed term of "temporariness"?
That said, it's not as bad as I thought it would be even though it still leaves a lot of people ready to be gouged and which will hurt employment opportunities. Now let's see some actual spending cuts - and not the only raising spending by 12% vs. the 15% they wanted "cuts".
There’s nothing locked with the Democrats. The Democrats drink a quart of whiskey and get behind the wheel of a car and tell the Republicans, “Give me a thousand dollars and a quart of whiskey or I drive off.” The Republicans give them the money and the booze and the Democrats look at the press and say, “See. The Republicans are giving liquor and money to an alcoholic and known criminal”, and then they floor it.
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