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I'm against the bill for now. Along with spending cuts, the increase in revenue that the higher rates bring in should be used 100% towards reducing the deficit....not used for more big government programs. We ALL pay the price for a few years...get the deficit under control...then come in with a tax plan that lowers taxes for everyone and doesnt contribute to the death spiral we are currently in. It would also give congress time to come up with a "fair tax" plan that gets rid of the IRS, cuts paperwork and loopholes and taxes people FAIRLY.
I am now, what will all the "sweeteners" (another huge stimulus for obama) being lumped into another wish list of liberal pork barrel projects.
I want a friggin CLEAN bill, nothing else riding along, just the tax RATE extensions, the UE extension and the 2% cut in the payroll tax.
That's it!
Nothing else should be in the bill.
It's not going to happen. There is no way a clean bill gets through the Senate.
As long as it takes 60 votes to get something through the Senate you are going to see legislation that is "compromised" in terms of political principle. The Democrats had to do it for healthcare and financial reform and now the Republicans have to do it for tax cuts.
I don't think the economy would die if the upper class would pay 2% higher income tax. I'm a conservative, but think something needs to be done about the deficit. I think we need drastic cuts across the board. I think there are easily hundreds of billions to be saved in the "defense" budget, but that is a sacred cow, so I don't anticipate anything drastic.
One thing to point out is that the conservatives would be understanding if the Repubs defeated it. We know they won't allow it to remain that way for too long. However, the libs would be much more angry at their legislators b/c they only see that their taxes are getting raised, THEY are the gimme party. That could work in our (conservatives) favor.
It's not going to happen. There is no way a clean bill gets through the Senate.
As long as it takes 60 votes to get something through the Senate you are going to see legislation that is "compromised" in terms of political principle. The Democrats had to do it for healthcare and financial reform and now the Republicans have to do it for tax cuts.
The Dems hardly compromised with healthcare. The public option also did not have support from enough Dems, nevermind the Repubs. The Dems shoved the bill through sans public option with no consideration of what the GOP or the people thought about it. This is definitely not the same situation as the current tax proposal.
I don't think the economy would die if the upper class would pay 2% higher income tax. I'm a conservative, but think something needs to be done about the deficit. I think we need drastic cuts across the board. I think there are easily hundreds of billions to be saved in the "defense" budget, but that is a sacred cow, so I don't anticipate anything drastic.
I disagree. While nobody would "die," it disincentivizes working and makes the rich less likely to stimulate the economy in any way. If you take their money, where will the jobs come from? Who will prop up Wall Street? Who's going to buy extravagant cars, homes and "stuff"?
A percentage is a percentage is a percentage; people are not understanding this. Everyone pays their fair share even when there is a flat tax rate.
Even though nothing more is politically feasible, I don't particularly support this deal because it does nothing to address a core issue caused by the possible expiration of the current tax rates: uncertainty. Extending the current rates for two years is all well and good, but they still don't allow people to order their affairs for the long term. Passing the bill as is will have little impact on the short-term economic picture.
Even though nothing more is politically feasible, I don't particularly support this deal because it does nothing to address a core issue caused by the possible expiration of the current tax rates: uncertainty. Extending the current rates for two years is all well and good, but they still don't allow people to order their affairs for the long term. Passing the bill as is will have little impact on the short-term economic picture.
Very true. Most business have five year plans, not two. Frankly I hope the Democrats are successful in screwing over their base and cause their tax rates to go up on January 1st. At least the opportunity would be the Republicans to fix correctly.
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