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House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

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posted on Dec, 2 2010 @ 11:48 PM
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House Democrats on Thursday passed a bill making middle-class tax cuts permanent as Republicans accused them of playing political games at a sensitive time.

The bill passed 234-188 but stands no chance in the Senate. But House Democrats, who want to let the cuts expire for the wealthy, wanted to publicly stake out their position before compromising on extending the tax cuts for everyone.

Republicans immediately cast the vote as a tax hike on small businesses and families earning over $250,000.

Please visit the link provided for the complete story.



Read more: www.foxnews.com...

See, commentators like Sean Hannity like to tout this as "the largest tax hike in US History". When in reality, it's not a tax hike at all, but restoring the tax rate to the time of Clinton. These were unpaid for tax cuts that should have never happened in the first place. These tax cuts haven't produced any jobs, they obviously haven't saved any jobs, and if the right actually cared about fiscal responsibility, they would understand that these tax cuts for the wealthy need to expire, we as a nation just cannot afford them.




posted on Dec, 3 2010 @ 03:57 AM
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I jsut wish for the love of God they would take the politics out of the politisc and actually remeber they are there to serve the American people and our interests, and not their own.

I am so sick and tired of these clowns doing whatever they can to make the other party look bad.



posted on Dec, 3 2010 @ 05:40 AM
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This is an amendment to HR 4853. Glad to see the democrats finally put their money where their mouth is.

As to any argument that tax cuts = jobs, according to this data the Bush tax cuts, in 2001 and 2003, did nothing to stop the increase in unemployment, until 2006 and 2007, after 2008 unemployment began to rise and once the financial industry collapsed unemployment spiked.



posted on Dec, 3 2010 @ 08:08 AM
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reply to post by links234
 


Exactly, upper class tax cuts do nothing to help the job situation despite what FOX News wants to tell people. The only thing it does is gives the rich more money in their pockets which they tend to save.

I could understand a tax cut for businesses, that would help jobs, but not a tax cut for individuals that make 250K+ a year. Who are these people trying to kid.

I hope that the middle class tax cuts go through, I was watching FOX News commentators whine all night about this.



posted on Dec, 3 2010 @ 03:14 PM
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Corporations are posting RECORD PROFITS right now. Where are all the jobs they said they would create with ALL THAT MONEY they HAD TO HAVE TO CREATE THEM???

They are NO WHERE.

Extend middle class tax cuts.....END TAX CUTS FOR THE RICH.



posted on Dec, 3 2010 @ 03:17 PM
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reply to post by David9176
 


What's even more maddening is that 65 percent of people in the country agree with what I just stated...you'd think it would be easy to pass.

BUT NOPE. Too many politicians in the pockets of millionaires, billionaires, and large international corporations.



posted on Dec, 3 2010 @ 04:47 PM
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Anyone with any sense can see that the GOP exists to serve corporate America but still Beck, Rush and Sean can ignore that and instill in a large section of the populace some fantasy BS that the GOP works in their behalf. But to be fair the Democrats aren't much better. A pox on all their houses!!



posted on Dec, 3 2010 @ 05:01 PM
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Originally posted by David9176
Corporations are posting RECORD PROFITS right now. Where are all the jobs they said they would create with ALL THAT MONEY they HAD TO HAVE TO CREATE THEM???

They are NO WHERE.

Extend middle class tax cuts.....END TAX CUTS FOR THE RICH.


You're right, they are posting record profits. But you have to remember that a lot of them lost a lot of money first. Before they can create jobs they first need to recoup losses and once they do that they will be able to create more jobs.

Of course some of them probably won't follow through and pocket the money, but many will create more jobs once they recoup losses and have the money to expand a little. The problem now is that they will see an increase in taxes and those that would have created jobs will now wait longer to do so.

They should have put some type of ammendment in the bill that would have allowed the Bush tax cuts to include small buisness owners and let the larger corporations taxes go ahead and go up. That would have allowed small buisness owners to expand and hire more people.



posted on Dec, 3 2010 @ 08:52 PM
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This tax cut issue is beyond political lines at this point, at least the current paradigm in politics.

Normally I side with the conservative approach to taxes, the less taxes the better.

But there is a big reality that NO ONE is talking about because it counters the conservative approach to taxes and it attacks the elite democrat supporters.

The Fed bailed out large banks and corporations with near zero interest loans. The bail out beneficiaries used this to turn out enormous profits at the cost of putting the rest of America in greater debt. This concentrated the wealth into a few hands, hands that live by speculating, and now the result is inflationary pressure on needed goods like food and fuel. The poor and middle class are the ones that suffer most from inflation.

Taxes need to be raised MASSIVELY on the very top indiduals (not small businesses or professionals earning under 5 million) . Not only do they need to be raised, taxes need to applied on their assets above 500 million as well. If they want to move their wealth overseas, at least the immovable assets will be stuck here at fire-sale prices and they can spread their inflation overseas.

My opinions are not directed towards redistribution of wealth, I hate Marxism. The reality is that top heavy distribution of wealth that was facilitated by politicians and the Fed has created inflationary pressure on the system. This wealth does not need to be redistributed, it needs to be destroyed. It is a false wealth that does not build anything or develop anything. It is a false wealth that creates more debt. The government budget doesn't matter, dollars can be printed, it is the dollars in existence and their location that is killing things. Dollars need to be destroyed in order to control inflation and taxation of the mega rich is the least painful way to do this.

And I still hate Obama, and the democrats are a bunch of corrupt politicians that are trying to control my life with crappy tax rules and global warming scams while the republicans are just morons.



posted on Dec, 3 2010 @ 09:30 PM
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reply to post by whatukno
 


Thank you dems for doing what we put you there to do! What a breath of fresh air! I find it maddening that republicans throw out their 'this is a political ploy at a sensative time' as they drop their letter stating that they will block everything from coming to vote unless they get what they want. They dont even try to hide their hypocisy!



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