GOP Forges Deal on Investor Tax Cuts

[Yo_Mama_Been_Loggin]

Why does the GOP hate their children? Oh that's right they hate everone else's children.

WASHINGTON - Republicans in Congress reached agreement Tuesday on a five-year, $70 billion measure to extend tax breaks for investors and prevent more middle-income families from being hit by a tax aimed at the wealthy.

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The bill would hand President Bush one of his top tax priorities, a two-year extension of the reduced 15 percent tax rate for capital gains and dividends, currently set to expire at the end of 2008. Republicans credit the tax cuts, enacted in 2003, with boosting economic growth and creating many jobs.

Treasury Secretary John Snow said the 2003 bill "by reducing the taxes on investment, ushered in a period of rising business investment, strong (gross domestic product) growth. ... When you get investment occurring and strong GDP growth, you get jobs.

http://news.yahoo.com/s/ap/20060510/ap_on_go_co/congress_taxes_11

[bluestateguy]

1. I can't tell you how happy that makes me

That will make my life so much better now. I'll have to go and look at my portfolio now to see how much money I will make.

Excuse me.

(For the humorously challenged, that was a joke)

[Robbien]

2. Remember, the middle class gets $20; the rich gets $42,000

http://releases.usnewswire.com/GetRelease.asp?id=65487

an average tax cut of just $20 to Americans in the middle of the income spectrum, while showering tax cuts that average $42,000 on people who make more than $1 million a year

[stepnw1f]

3. thanks for the link

Jesus these rich greedy bastards piss me off.

[sweetheart]

5. think of all the jobs those rich people will create!

Heck, for 42K everyone could hire a personal sycophant.

[54anickel]

7. Need to start calling and e-mailing that report to all reps. Let them

know we're onto them and this latest rip-off. It's an election year - are they willing to give Bush what he wants for the price of votes?

[lovuian]

4. Huge deficits and the give tax cuts to the rich

it makes me sick!!!

[RDANGELO]

6. Anyone else think this is insane?

I think they hope to buy the next election. This is to translate into a bottomless pit of donations.

[Tandalayo_Scheisskopf]

8. No, it really isn't about buying the next election.

Repuke SOP, at every level of government, when they know they are going down, is to leave "Scorched Earth" behind. Why? So they leave a situation where the dems will have to raise taxes to make up for their egregiously poor fiscal mismanagement. By doing that, they can then point at the dems and say "See!!! We told you they would raise taxes!".

They have been doing this for a long time. NJ, under Whitman and Kean, is an example of that.

It illustrates their contempt for the average American and their utterly craven lack of real principles.