Washington (CNN) – The U.S. Senate on Wednesday passed a Democratic plan to extend the Bush-era tax cuts for middle income Americans while rejecting a Republican alternative to continue all of the cuts - twin votes that help to crystallize the position of the two parties on a critical issue heading into the fall campaign.
The Democratic proposal passed in a sharply polarized 51-48 vote, while the Republican plan was defeated 45-54.
FULL STORY
From CNN Politics
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nothing to see here folks because nothing is going to happen. GOP will vote it down no matter what.
from the article:
"Republicans argue that any tax hikes could derail what is already considered a weak recovery."
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Ask them for proof of that solipsism. Americans are tired of them citing facts from their alternate reality.
Our Country would be better off to let ALL of the tax cute expire than to continue with 'Business as Usual'.
Let's begin to face reality: It takes a lot of money to run this country.
Repugs blame dems for spending too much, but now insist on NO cuts to our overblown military. Some ( mitts, for one) want to INCREASE military spending.
Of course, in mitts' case, you never know what he REALLY wants, as he tells everyone whatever he thinks they want to hear, with NO WAY to pay for it all!
I guess the GOP will have to go against there signed pledge not to raise taxes on anyone. Is this just another broken promise.
Maybe the time has come for Republicans to stop worrying so much and give people higher taxes on employers and let the outcome they so fear take place and those that find themselves unemployed can always depend on our government to take care of them financially.
Hey, here's a crazy thought... How about a bi-partisan plan? Each side gives a little, takes a little... I think my grandparents called it "compromise."
Bill from GA
Our Country would be better off to let ALL of the tax cute expire than to continue with 'Business as Usual'.
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I agree. George bush acknowledged the debt and deficit that they would create and promised to make them temporary. But, we should keep some of the middle class tax cuts enacted under the Stimulus. We also need to raise the SSI and Medicare/Medicaid rates and income ceilings to levels that make sense.
"Let's begin to face reality: It takes a lot of money to run this country."
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It was NEVER intended to be that way, Bill.
"We also need to raise the SSI and Medicare/Medicaid rates and income ceilings to levels that make sense."
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You realize that Medicare has no ceiling, right? And you realize that no one has a "Medicaid" withholding, right?
So let's go to SSI. Yes, there is a ceiling on the amount of income that SS is withheld on... but there's also a ceiling on the annual benefit that can be paid. So I'll ask you this – if you increase the ceiling, are you going to all ow for a corresponding increase in the annual benefit? Or do you want the so-called "wealthy" to fund everyone else's retirement as well as everything else that pay the lion's share of? When does it stop?
@ myviews.....that's actually a good idea. However, the GOP would never go along with it because if things actually improved, they would lose yet another platform of fear. Not to mention, it wouldn't make their investors very happy.
Barnacle Bob
@ myviews.....that's actually a good idea. However, the GOP would never go along with it because if things actually improved, they would lose yet another platform of fear. Not to mention, it wouldn't make their investors very happy.
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Things won't improve, when those taxes hit employers things will go down for employees. It's simple economics principles and math. Reid, Pelosi, Obama won't feel and maybe you won't either if you are a lawyer, accountant, doctor but everyone else will feel the hit. That's the problem, all these people talking about getting rid of the Bush tax cuts are not part of the everyday life and I am sure Pelosi will find a way to get out of paying high taxes in her multi-million dollar business.
Rudy NYC - We also need to raise the SSI and Medicare/Medicaid rates and income ceilings to levels that make sense.
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Yet more wealth redistribution schemes Rudy? Raising the rates, yes, raising the ceilings, no, unless you also want to raise the payouts and not means test. Having high end wage earners paying for the retirement and healthcare of others is not what this system was supposed to do. No free riders. People need to pay their way, just like with Obamacare.
People are receiving far more than they are paying for and the rates must be increased. BUT those rates also apply to employers and that cost WILL be passed on to consumers and customers. So EVERYBODY will be paying more in taxes, in their pay check and in the goods they buy.
The Republicans were sent to Washington in 2010 with a mandate. Get control of federal government spending. They have done excellent work so far and I expect they will remember who sent them there and hold firm on this tax increase as well. I am very pleased with what the Republican House has accomplished in the face of the high spending Obama Administration and Reid Senate.
Fair is Fair wrote:
"Let's begin to face reality: It takes a lot of money to run this country."
It was NEVER intended to be that way, Bill.
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So, let's cut some of our ridiculous Defense spending. We spend something crazy like $800 billion per year on Defense. Did you know that China is number two when it comes to annual defense spending and they only spend around $70 billion per year? Did you know that you can take China and the rest of the top 10 and it doesn't add up to half of what we spend per year? Want to some more crazy numbers?
No worries folks, no progress will be made. Mr McConnell has a filibuster all warmed up. The "cut taxes and spend" crowd will ensure the deficit builds!
Rudy replies -
"So, let's cut some of our ridiculous Defense spending. "
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In Bizarro World, those who wish to cut government spending wish to do it from one of the only programs the founders intended to be the responsibility of the federal government – defense.
Clinton Economy-Good. George W. Bush Economy-Bad. What was the max Tax Rate on the Rich(Job Creators) during the Clinton Years ? 39.5% ! Ergo, return to the Clinton Rate & the Economy will be GOOD again !