Obama open to 'compromise' in Stimulus Bill - Open to MORE tax cuts - ENOUGH ALREADY

[debbierlus]

http://news.yahoo.com/s/ap/obama_economy

The people did NOT vote for Republican economics. Republican economics is WHY we are here. We do not need tax cuts. We need SPENDING to create jobs and improve infrastructure.

This is not the time to be timid and acquiesce Republicans who have NO interest in anything but serving their corporate masters. The country has already placed their children in servitude to trillions of dollars of debt for bank rescues (banks who will not disperse the money in loans or renegotiate mortgages).

Enough.

[JSK]

1. Call or email the White House

www.whitehouse.gov

[daninthemoon]

2. exactly right. the people spoke loud and clear. so did the economy.

trickle down will never ever work.

[Thrill]

3. Read the article. This is in regards to Grassley's proposal, that was passed in the Finance Comm

The Senate shows signs of greater bipartisanship, including a decision in the Finance Committee on Tuesday to add a new tax break for upper middle-income taxpayers, at a two-year cost of $70 billion. It was advanced by Sen. Chuck Grassley of Iowa, the panel's senior Republican.

http://news.yahoo.com/s/ap/obama_economy

Obama already told the House Republicans he wasn't doing anything else on taxes.

[DesertFlower]

9. how much is considered upper middle class?

[Thrill]

12. Its the Alternative Minimum Tax. $33,750 for Individuals and $45,000 for couples

Under his proposal it moves it to $46,200 and $69,950

[DesertFlower]

13. thanks. every year i live

in fear of the AMT. so far it hasn't hit us.

[Sebass1271]

14. What is the AMT? and who pays for it?

[DesertFlower]

15. i'm not really sure. i know it hits

higher income people. i never know if it's going to hit me until the accountant is almost finished doing our taxes. i know it would add quite a chunk to the taxes we already owe.

i know there's been talk of doing away with it for years.

here's a link.

http://www.irs.gov/taxtopics/tc556.html

[karynnj]

18. It's the alternative minimum tax

There is a calculation that you make on the 1040 that determines if you need to calculate it. It is triggered when you have too many tax reductions through deductions or anything else. It was designed when there were some very rich people who had no tax liability due to shelters and other things.

The threshold was not indexed to inflation and it now hits many middle class people in states like NJ, MA, NY etc where state tax and housing prices (thus mortgage interest) are high. What it does is remove some of the tax deductions the person was otherwise entitled to.

[DesertFlower]

19. thanks for the explanation.

[Hawkeye-X]

20. At least this amendment will get lost in conference..

Guara-damn-teed!

[ErinBerin84]

4. didn't Obama say today

that he WASN'T going to compromise on more tax cuts?

[ClarkUSA]

5. OP is wrong. "Obama: No compromise on more tax cuts or tax relief for working poor" link -->

Many sources as to what really happened here: http://www.dailykos.com/story/2009/1/27/145412/255/923/689630

[Windy]

6. Please get all the facts before reacting. n/t

[Sebass1271]

7. What happened? I heard he was NOT compromising.. did

he change his mind?

[emulatorloo]

8. Read the article - Obama is two or three steps ahead of this crowd.

"One Republican senator, speaking on condition of anonymity, said the president pledged to Sen. John Ensign, R-Nev., to have aides review two specific proposals. One would affect businesses that pay down their debt. The other would provide a temporary tax holiday for companies that have money overseas and bring it back to the United States to invest."

So he is going to have his aides read a proposal. Maybe his aides won't like them.

I gotta say a tax incentive for companies re-investing money in the United States does not sound like a horrible thing.

----

[Thrill]

10. I agree.whats wrong with being open to ideas? Obama said he has no pride in ownership.

I must say the holiday for re-investing in this country, sounds interesting.

[debbierlus]

21. After these corporations have hidden their money off shore and haven't paid ANY taxes

We need to give them a re-investment holiday?

[FrenchieCat]

11. You know, Small Business tax cuts promised and were put in by Obama, taken out by Obama

and may be put back in by Obama.

In otherwords, it is the same tax cuts he proposed from the start.

Guess he fooled you too!

Good on him!

[babylonsister]

16. Obama won't give the GOP more tax cuts

http://www.washingtonmonthly.com/archives/individual/2009_01/016629.php

[AtomicKitten]

17. Good to know. Thanks for posting this piece. n/t

[cali]

22. Disgraceful: Your dishonest OP, that is.

No wonder you didn't post the part of your link that reflects your title- it doesn't fucking exist.

[firedupdem]

23. LOL! Okay.

:eyes:

[Bonobo]

24. Hulk hate compromise!