Biden: GOP 'holding middle-class tax cuts hostage'
July 24th, 2012
05:53 PM ET
11 years ago

Biden: GOP 'holding middle-class tax cuts hostage'

(CNN) – The White House and Congressional Democrats are using a Senate vote on Wednesday to try and force Congressional action on a tax cut compromise. At issue is President Obama’s proposal to extend only Bush-era tax cuts on income below $250,000 a year, while allowing cuts for everything over that threshold to expire at the end of the year.

In anticipation of the vote, the National Economic Council released a study on Tuesday surveying the economic effects of the president’s plan, and Vice President Joe Biden held a rare conference call with reporters to hammer home the significance of finding a compromise.


Filed under: 2012 • Congress • Joe Biden • Taxes • White House
soundoff (17 Responses)
  1. FORWARD into the Obama FISCAL ABYSS

    OK, so the "evil Bush tax cuts for the rich", now known as the Obama Tax Cuts for the Rich, were mostly to the majority of working Americans that pay taxes and NOT mostly to the rich. So Obama and the Democrats have lied and distorted the facts. Nothing new there.

    But why do the Democrats not want the taxes? The budget deficit is over a trillion dollars. Many of the lefitsts is here argue that higher taxes isa GOOD THING and will guarantee the economy grows (dummies don't know government spending is wrongly counted as part of GDP)

    Sorry Democrats, time to get back to reality and STOP ALL of this tax rate manipulation. Let's just let everything hit the fan, ALL OF YOUR TAXES, OBAMACARE INCLUDED. And if we still have a deficit, THEN RAISE TAXES UNTIL IT IS BALANCED. NO MORE BORROWING AND STEALING FROM THE KIDS!!

    If Americans want this huge leftist government then LET EVERYBODY PAY FOR IT. And I do mean EVERYBODY. No more false reality, money juggling, borrowing, smoke and mirrors.

    Americans will soon discover a huge majority of their money is being taken in taxes. You'll just have to learn how to live with less food. Or decide you can live with less government.

    July 24, 2012 06:07 pm at 6:07 pm |
  2. MTATL67

    SHOCKED – McConnell shot down tax break for importing job back to American.

    July 24, 2012 06:10 pm at 6:10 pm |
  3. Myviewis

    Maybe than Biden has a point and Republicans are worrying to much, the time has come to let 700,000 Americans become unemployed. As many have told me we have a Government that makes sure citizens have chances at opportunities and everyone benefits from things the Government provides, public goods that the private sector is unlikely to provide. Well, it's showtime for the Government to take care of those 700,000 Americans that most likely will become unemployed. I think it's time Republicans stop worrying and let the government take over the needs of these unemployed Americans. Someone wrote me that government isn't there for the giggles and is there to keep society flourishing, safe and I think well kept and taxes are the price we pay for such. Okay, governmen time to take care of unemployed Americans.

    July 24, 2012 06:17 pm at 6:17 pm |
  4. lovetheusaorleave

    As a independent what I have found laughable so far during this election process is how the politicians view people. Today both President Obama & V.P. Biden have said republicans are going to cause a tax increase by holding out on this particular bill. What they have not said is the republicans have stated numerous times they will allow the tax cut (put in place by Pres. Bush the same person Obama has blamed for everything) to be extended by President Obama. But they will not allow for only certain companies (those contributing to the Obama campaign get this new tax break) and that the President has said it is all or nothing. It is time for all politicians to realize Americans are much smarter than they think!!

    July 24, 2012 06:17 pm at 6:17 pm |
  5. Dave

    Sorry, I'm not buying it. The liberal policies of deficits and debt are holding this fiscal situation hostage. I can't spend more than I make without negative consequences. It is time for the government to get real!

    July 24, 2012 06:22 pm at 6:22 pm |
  6. realitychecks

    Truthfully I'm glad someone is looking out for us. Common sense the lower incomes shouldn't pay more ever. Why do our big american companies pay us less than our work is worth? Why is our country sending their work and money to other countries? Obama- Biden 2012

    July 24, 2012 06:22 pm at 6:22 pm |
  7. Time for a real change!

    Biden is spinning another lie here! The GOP isn't holding the middle class hostage, it's Obama! The GOP is on board for extending all of the tax cuts for another year. Obama is the one using scare tactics saying that families will pay $1600 a year more if the GOP doesn't pass his proposal. Democrats are on record saying that they are willing to let all tax cuts expire if they don't get their way. Now that is what I call holding American's hostage!

    July 24, 2012 06:33 pm at 6:33 pm |
  8. Four and The Door

    The Obama Administration is All Politics All The Time. When will they begin making decisions based on what is good for the nation rather than playing politics? I will give you a hint. Never.

    This is no time to raise taxes.

    July 24, 2012 06:35 pm at 6:35 pm |
  9. rob

    BTW everybody, these are the Bush Middle and lower income tax cuts that the're talking about. Yes, it was George Bush and the Republicans int he Congress who passed these cuts for the people. Tax increases on the wealthy seems to be the only plan the Democrats have to address the financial catastrophy everyone knows is coming.

    Taxing the "Rich" is no plan, the revenues brought in (even if you believe they won't find ways to avoid the tax) would pay for about 2 weeks of total federal spending.

    These people are not serious and need to be voted out!

    July 24, 2012 06:44 pm at 6:44 pm |
  10. when your nightmares end WILLARD begins

    Hey Joe didn't you get the notice from the Speaker of the House that President Obama doesn't give a (bleep) about the middle class? I guess you failed to read the right wing talking points.

    July 24, 2012 08:07 pm at 8:07 pm |
  11. Ins1te

    Republicans = fighting for the rich & dismissing the middle class.
    The Bush tax cuts have been in place 10 years . Where are the jobs? What happened to trickle down economics? Nothing! Wake up people!

    July 24, 2012 08:34 pm at 8:34 pm |
  12. enuff

    I almost forgot about congress and their sabotage of middle america with the shooting and the "American century" wannabe world dictator.

    July 24, 2012 09:06 pm at 9:06 pm |
  13. jerry

    someones holding bidens brain hostage...

    July 24, 2012 09:08 pm at 9:08 pm |
  14. L. R. Long

    Once again, Obama has it right but the GOP just stick wrenches in all his plans. Maybe he hasn't held a meeting with his economic council in 6 months because they figured out what they need to do a long time ago but the republicans have just been so devoted to STOPPING PROGRESS. Meeting with the economic council is a waste of time, they have a solution, they realize their time REALLY needs to be spent campaigning to get rid of the obstructionist GOP! That is the only way progress will be made. The republicans will allow the president no success, that's Basic Modern Politics 101

    July 24, 2012 09:25 pm at 9:25 pm |
  15. w l jones

    Strange strange indeed we expect foriegn government to do right by it people but not our politiition ether you do for your self or know what. Bless.

    July 24, 2012 09:40 pm at 9:40 pm |
  16. S.B. Stein E.B. NJ

    Why does the GOP only seem to want to keep tax cuts that do the country's financial future harm? If they want to do something, then get these with a sunset.

    July 24, 2012 10:54 pm at 10:54 pm |
  17. scott

    Obama's silly attack dog opens his mouth again.

    July 25, 2012 04:51 am at 4:51 am |