Battle Looms in Washington Over Expiring Bush Tax Cuts

[babylonsister]

Battle Looms in Washington Over Expiring Bush Tax Cuts
By DAVID M. HERSZENHORN
Published: July 24, 2010


WASHINGTON — An epic fight is brewing over what Congress and President Obama should do about the expiring Bush tax cuts, with such substantial economic and political consequences that it could shape the fall elections and fiscal policy for years to come.

Democratic leaders, including Mr. Obama, say they are intent on letting the tax cuts for the wealthy expire as scheduled at the end of this year. But they have pledged to continue the lower tax rates for individuals earning less than $200,000 and families earning less than $250,000 — what Democrats call the middle class.

Most Republicans want to extend the tax cuts for everyone, and some Democrats agree, saying it would be unwise to raise taxes on anyone while the economy remains weak. If no action is taken, taxes on income, dividends, capital gains and estates would all rise.

The issue has generated little public attention this year as Congress grappled with health care, financial regulation, energy, a Supreme Court nomination and other divisive topics. But it will move to the top of the agenda when lawmakers return to Washington in September from their summer recess, just as the midterm campaign gets under way in earnest. In recent days, intense discussions have begun at the Capitol.

Beyond the implications for family checkbooks, the tax fight will serve as a proxy for the bigger political clashes of the year, including the size of government and the best way of handling the tepid economic recovery.

“It has enormous ramifications for the fall and clearly will be one of the dominant issues,” said Senator Ron Wyden, Democrat of Oregon. “This is code for the role of the federal government, the debate over the size of government and the priorities of the nation.”

more...

http://www.nytimes.com/2010/07/25/us/politics/25tax.html?hp

[doc03]

1. I say make the Republicans tell us how to pay for them n/t

[Bitwit1234]

3. Exactly!! The ranted and raved about paying for unemployment

now tell them...OK you want to extend the tax cuts, give us reasonable ideas on how to pay for them. AND DON'T CUT SOCIAL PROGRAMS SUCH AS SOCIAL SECURITY, MEDICARE OR MEDICAID.

[Merlot]

2. repubs are the do-nothing obstructionists

This should be easy for them. Do nothing.

[safeinOhio]

4. I love the logic

"Most Republicans want to extend the tax cuts for everyone, and some Democrats agree, saying it would be unwise to raise taxes on anyone while the economy remains weak."

Just as it is wise not to cut spending while the economy is weak. Can't have it both ways and make any sense.

[Name removed]

5. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Jim Sagle]

6. It's your fault. You didn't make him do it.

;)

[MannyGoldstein]

7. I only backed him and contributed to his campaign

For that he called me "fucking retarded" through his mouthpiece.

[jenmito]

10. NOBODY called you "Fu*****g retarded"...

According to a report Tuesday in the Wall Street Journal, Emanuel told a liberal strategy group in August that a plan to run advertisements against conservative Democrats who were "balking at Mr. Obama's health-care overhaul" was grossly unwise.

"F—ing retarded," Mr. Emanuel scolded the group, according to participants cited by the paper.

"He warned them not to alienate lawmakers whose votes would be needed on health care and other top legislative items," the reporter said.

http://rawstory.com/2010/01/fire-obamas-chief-staff-cal...

[Arkana]

14. Don't bother. They've already got it in their heads that Rahm Emanuel personally insulted them

and no amount of facts will shake that delusion loose.

They are determined to be victims, no matter what. For all their tough talk about fighting back, they sure enjoy acting like helpless, persecuted little children.

[jenmito]

16. I know...

I just found my post from explaining the same thing to someone else who claimed Rahm called him a "fu***** retard." When the true quote is shown to them, they either ignore it or change the subject. They have their talking point/idea in their head and nothing will change it.

[tranche]

15. Dude, you're a f*&$ing weirdo and should thank God every day for DU.

Otherwise, you'd be be left arguing with yourself alone in some park tunnel somewhere.

[gateley]

8. "Beyond the implications for family checkbooks,..."

Family checkbooks???? The families whose checkbooks will be affected can turn it over to their on-staff accountants and full-time tax attorneys. Jeez!

[Exilednight]

9. This is one of those things that can be fixed by actually "doing nothing" .............

I mean seriously, all Obama has to do is sit on his hands and say "let them expire".

[Ernesto]

11. He better! nt

[DrToast]

12. No, that won't work

Because everybody's taxes will go up in that case, not just for the rich.

[dionysus]

13. if there's a bill to extend them... pocket veto anyone?

[Exilednight]

17. NO. FLAT OUT VETO! Stamp and sign. n/t