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What will be the impact for retired seniors? Are we headed for serious austerity measures when cuts are made to SS and Medicare while those who pay little or no taxes (BOA, etc etc) remain immune?
Moderator cut: orphaned quote
Mnay thing that if Obama is reelected he will folow thru with his statements to let the taxcuts expire. he campiagn on just that last elcetion.I presonally think if its put thowardsw the defciit that its comig anyway ;one way or the other.Add that to the automatic cuts and its a start on paying down the deficit.
Last edited by Keeper; 05-10-2012 at 02:22 PM..
Reason: orphaned quote
Mnay thing that if Obama is reelected he will folow thru with his statements to let the taxcuts expire. he campiagn on just that last elcetion.I presonally think if its put thowardsw the defciit that its comig anyway ;one way or the other.Add that to the automatic cuts and its a start on paying down the deficit.
Republicans will never allow it. They might accept broadening the base, but that won't happen, either. Bush tax cuts are permanent - GOP won't give on raising rates on high earners, Dems don't want middle class tax cuts to expire - although Dems are far more weak-kneed than GOP. Obama does not know how to use his clout. Either way, it doesn't affect me.
Republicans can't extend the tax cuts from not expiring. The last time democrats in congress and Obama actaully extended them when they could have let them expire.
This information is presented through the lens of three sources that bend right politically. I give their particular spin as much credence as I would an MSNBC treatment of the matter.
Yes, the sky is falling indeed yet again.
I'm glad there is consensus, nothing to worry about. This thread can now be retired.
Republicans can't extend the tax cuts from not expiring. The last time democrats in congress and Obama actaully extended them when they could have let them expire.
As a trade-off for unemployment benefit extensions. That issue will be coming up again. And even with that, Dems gave up the ranch on UE benefits. New legislation is very harsh and will prove unworkable in many states. CA, alone, has two million unemployed, about 25% of them running out of benefits. CA in the past week got special waiver from the DOL to provide additional ten weeks federal UE benefits not available under current legislation to any other state in the country. Kept very quiet about it, too. Very creative (and questionable) workaround, in diametric opposition to federal UE administrative guidelines handed down to every state. Would love the background on that one - no doubt devised in collaboration with the BLS/DOL.
I'm not betting those tax cuts will expire anytime soon. There will always be something the Democrats need for which they will back down on the tax cuts.
Last edited by Ariadne22; 05-09-2012 at 04:37 PM..
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This thread can now be retired.
