Obama is going to let the Bush tax cuts expire.

Then the future tax cuts on the middle class will be the OBAMA tax cuts. This president is genius.

bump
R1, I didn't think of that! I love it!
He'll also have a slgihtly easier time with the new Congress. There will be fewer GOP in the House, even though they'll still be in the majority. The larger problem will be if Cantor ousts Boehner from the Speaker's job. Cantor is poison, so is Ryan. That's what Boehner and The President have to worry about. Both of them will lose if Cantor get elected Speaker. Do remember, Speaker is a Constitutionally mandated position, and after the Vice President, next in line of succession.
Cantor frightens me. He's like Suge Knight in sheep's clothing.
That was disrespectful to even Suge, r4. Cantor is the worst.
Tupac%20Shakur
I agree, r4. Jewish Republicans freak me out, Cantor is frighteningly slithering.
What "future" tax cuts? I wouldn't hold your breath on that one.
[quote] Do remember, Speaker is a Constitutionally mandated position, and after the Vice President, next in line of succession. And yet the Speaker does not need to be a Congressman. They could elect Newt Gingrich, Madonna or Dick Cheney if they so desired
Dear God,R8, don't give them any ideas. Can you imagine Karl Rove as speaker! All joking aside, I thought the reason behind chosing the Speaker of the House was because they wanted to make sure if it came to that, the person would be an elected official? It wasn't until sometime later they added other cabinet officers. Didn't all this succession stuff take place after JFK? Anyway, Boehner can claim credit for Tax cuts, too, if we go over the cliff, except he will re-introduce tax cuts for the rich. I am wondering if they change the threshold, instead of $250,000 they change it to $750,000 or $1million would that go over better? I would live with that.
[quote]Didn't all this succession stuff take place after JFK? Actually, it was Harry Truman. When he took office after FDR died, he suggested that Congress move the Speaker and President Pro Tem of the Senate ahead of the cabinet.
The Voice of the Night
Thanks, R10.
r7, if we go off the Republican Fake Fiscal Cliff and all of the Bush tax tuts are rescinded, do you think the 98% are going to sit idly by? Possible. But I do think that whatever future tax cuts for the middle-class will be OBAMA tax cuts. Obama controls the narrative.
Game.%20Set.%20Match.%20Obama.
The proposed tax increases on the "rich" will fund the government for EIGHT DAYS per year. Entitlements and what this government *spends* are what needs to be addressed. It's time to stop pandering to "middle class" voters by villifying the upper 2% and cut spending. The tax hikes are inconsequential.
Let the tax cuts on the rich expire and take away the deductions for houses and kids. That would fix things.
r13, and the first entitlement program on the table should be the Pentagon. The Pentagon is where the real fat is. And start by closing military bases in red states that hate receiving government funding. Move the troops to blue states.
Hardly, [R14]. Sounds like you have neither a house nor kids.
r16, I agree with R14 somewhat, and yes I have no kids and have no plans to have kids. I know people that get more money back than they paid taxes on simply with kid deductions. Had a co-worker who claimed a couple of kids that his sister couldn't because she reached her max on getting money back and he got a tax refund for several thousand more than he paid in taxes. So you don't have to pay taxes and the government pays you? How is this fair?
Letting the tax cuts expire will cost everyone - even will get a 2% pay cut. That is the payroll tax (that funds social security) which was cut from 6.2% to 4.2% (on the first $110k of income) as part of the stimulus package. Your take home pay is going to drop appropriately. Merry fucking Christmas.
I saved $300 a year through the Bush tax cuts. I will happily give it up (and won't feel it) if it means we're getting back on track.
How many seats did the GOP lose in the House this year?
Let the tax cuts for the middle class (as well as the "rich") expire and see how long it takes for everyone to call on the White House for spending cuts! Tax hikes alone on ANYONE will not solve this. Why the president is honed in only on the wealthiest 2% and no mention of cutting spending is mind-boggling. You cannot tax "them" enough to make a real difference. Nuts!
Something that is not being discussed is what will occur with such high rates of unemployment and the federal extension of benefits will expire. In fact, anyone who was unemployed after July only gets 26 weeks, period. That is not a lot of time to find a job in this economy, and these people will also fall off of the radar and deflate, artificially, the rate. People cannot spend or pay their bills= worse on the economy, whether the 2% get a tax hike or no. I am damn lucky I found a good job in time, but it did take longer than 26 weeks. I will be paying more taxes if the cuts expire now, and I am ok with that.
I always felt there should be no deductions for children. After all, having kids actually costs the government more.
It's not just the 2%, capital gains, estate taxes are on the table too. Spending cut are also on the table R21. Where are you getting your info fool?
The house/kid deductions used to be paid for by the 50s era 90% tax rates (along with wars and the military).
James Madison said high estate tax was about keeping families from becoming financial dynasties.
He was right.
Don't get me started on what happens if the mortgage interest deduction is eliminated, which is what the Repub's want (and was how Romney was funding his "tax cut and spending increase" promises, and why he wouldn't elaborate on the plan pre-election because he knew it would blow up in his face). That simple move will destroy the housing market and destroy the economy, sinking it into depths lower than the US has seen ever. Housing will be sold for pennies on the dollar, or out right abandoned - no one in their right mind will own a home. There's no benefit. All associated industries will be decimated. The resulting economic downturn will be beyond catastrophic. This is what the repubs want. They want to destroy the democrats, and will trow the economy into disarray to do so.
Whom are you calling a financial dynasty?
The 5 Romney Boys
Whom are you calling a financial dynasty?
George%20Romney%27s%20money%2C%20alive%20and%20well.
R21 - Obama gave into spending cuts last year.