Bush tax cuts: The real endgame
November 28th, 2011
07:15 AM ET
2 years ago

Bush tax cuts: The real endgame

New York (CNNMoney) - Congress has a way of waiting to the very last minute to resolve big issues, so December is usually a busy month on Capitol Hill. This year will be no exception. But next year? Next year will be no exception on steroids.

This December, for example, lawmakers will have to decide, among other things, whether to extend the payroll tax cut, long-term unemployment benefits, the Medicare "doc fix," Alternative Minimum Tax relief and a bevy of business tax breaks.

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Filed under: Congress • Taxes
soundoff (7 Responses)
  1. Marc

    Congress no doubt will do "Nothing" They will wait in hopes of winning the white house,SO? All the middle class will suffer because the GOP wants to not do anything to spite the President!

    November 28, 2011 07:42 am at 7:42 am |
  2. diridi

    Entire Tax code needs to be re-done, re-drafted, and re-implemented. OK., Raise the Tax who make more than 250k or more, Now nation needs to generate Revenue. Period. Do not ignore Oil Independence, Green Energy, Infrastructure, Manufacturing in US soil, Agriculture and Education. Retrain Workers. Drive Greed out of your brains.....good luck, America, Good luck Democrats, Good Luck Obama....God bless folks...

    November 28, 2011 07:49 am at 7:49 am |
  3. Pedro

    It is hard to believe that the politicians are getting paid by us to do nothing in Washington. The worse are those campaigning and getting paid also by us.
    It need to change and we are the ones able to do it on 2012.

    November 28, 2011 08:23 am at 8:23 am |
  4. Rudy NYC

    Did you catch Grover Norquist's remarks on "Meet The Press" yesterday about the BTCs? Either he lied, or he is senile. I'll let you decide for yourself. He seemed to rewrite history on several occasions, actually almost every other complete sentence.

    Norquist cliamed that the BTCs were always intended to be permanent. What is misleading and distorted about that statement is that it contradicts what was being said by Republicans at the time, as well as the promise George W. Bush made to the American people on national TV.. The controversial cuts would promised to be temporary. I guess the intent to make them permanent explains why the cuts had a sunset date.

    Norquist went to state that the BTCs were never intended to create jobs, nor help the economy. That claim totally constradicts historical facts. The cuts were introduced to help an ailing economy during the recession the country was going through when Bush first took office in 2001. The economy slowed again following 9/11 and Republicans sought, fought, and wrought additional cuts and additional extensions to the BTCs. Norquist claimed that the BTCs were implemented to correct the tax code, and didn't go as far as Republicans had wanted. At the time Republicans controlled both chambers of Congress and the White House.

    November 28, 2011 08:37 am at 8:37 am |
  5. Rick McDaniel

    The Bush tax cuts, were always a bad idea, in the face of war costs. Those should be allowed to expire, and they should be allowed to expire for everyone.

    We cannot continue to borrow 4 out of every 10 dollars that Obama is squandering, on a daily basis, until Jan 2013.

    November 28, 2011 08:39 am at 8:39 am |
  6. The Greedy Old PIgs have declared class war on US!

    The "real endgame" for the GOBP deathcult is to somehow lock in lower tax rates for the filthy rich. Despite the fact this is a proven policy failure, the GOBP deathcult must serve its 1% masters at all costs. "Care for the greedy and not the needy" is the deathcult motto and obstructionism is the plan to get it.

    November 28, 2011 08:51 am at 8:51 am |
  7. chuck weidemann

    Not going to happen! This congress can't tie it's own shoes without tripping and falling on it's face. They should just go home and meet with their voters at home for the next four weeks and see if they can learn what the mood of the country is!!

    November 28, 2011 08:54 am at 8:54 am |