December 06, 2010
— Ace He wants the middle class tax cuts extended, and says we have to do "whatever is necessary" to get job creation going. Possibly necessary, in his telling: Some kind of a deal in which neither Republicans nor Democrats (nor Obama) gets 100% of what is wanted.
This is what I guess Weiner was reacting to.
President Barack Obama called Democratic leaders to the White House Monday in hopes of advancing a year-end bipartisan compromise to extend expiring tax cuts for all Americans and renew jobless benefits for the long-term unemployed....
Obama signaled a looming deal during a speech in North Carolina Monday, saying he would cede ground in his positions to help Republican and Democratic lawmakers work out a deal.
"We've got to make sure we're coming up with a solution, even if it's not 100 percent what I want or 100 percent what the Republicans want," Obama said.
Obama seemed to signal he was backing off, rhetorically at least, his previous position that we ought to tax people at higher rates even if that actually results in a net decrease in government revenue. Increasing taxes on businesses and the wealthy, he had previously suggested, was a good in and of itself even if in practical terms it brought in no greater revenue (or even decreased it).
Now he implies that a tax cut for the wealthy isn't necessarily a bad thing, except we can't afford it "right now." Of course he doesn't explain why we can afford all sorts of other things we can't afford "right now," like ObamaCare and the Non-Stimulative Stimulus or endless bailouts for the states so that they are not forced to reduce government workers' pay and benefits. (And that is 90% of what these bailouts are about -- not "services," but salaries for current government employees.)
Posted by: Ace at
12:20 PM
| Comments (41)
Post contains 321 words, total size 3 kb.
his previous position that we ought to tax people at higher rates even if that actually results in a net decrease in government revenue.
Epic economic and fiscal stupidity (BOTH--all in one handy package) on display, but Bristol Palin can't dance, you know.
Posted by: Circa (Insert Year Here) at December 06, 2010 12:36 PM (B+qrE)
Posted by: WalrusRex at December 06, 2010 12:37 PM (xxgag)
Posted by: MCPO Airdale at December 06, 2010 12:38 PM (SsNRK)
Posted by: kathysaysso at December 06, 2010 12:39 PM (ZtwUX)
O/t: Just realized Sotomayor looks like George Kennedy with a wig.
Posted by: rdbrewer at December 06, 2010 12:40 PM (u5p47)
Just realized Sotomayor looks like George Kennedy with a wig.
For thees, I haves none of the empathee.
Posted by: Justicia Sonia Sotomayor at December 06, 2010 12:42 PM (sqqku)
Posted by: kathysaysso at December 06, 2010 04:39 PM (ZtwUX)
=========
The slavery party never did get very far from their roots. We just stopped calling them what they are.
Posted by: jc at December 06, 2010 12:43 PM (i8c5b)
Posted by: Dan at December 06, 2010 12:43 PM (1jzSs)
I think Obama is finally shitting bricks over the employment data.
He sees his bid for reelection going down the drain.
Posted by: Soothsayer Weiner at December 06, 2010 12:43 PM (uFokq)
"President Obama and congressional Republicans have reached a tentative deal to extend the Bush tax cuts for all income levels and are presenting the proposal to congressional Democrats Monday afternoon, The Daily Caller has learned.
The deal will extend the current tax levels for two more years, preventing taxes from going up on any income levels, despite the wishes of many liberal Democrats — including Obama — that individuals making more than $200,000 a year and families with more than $250,000 a year in income see their rates go up.
In exchange, Republicans have agreed to extend unemployment insurance benefits for an additional 13 months.
Obama presented the proposal to Democratic congressional leaders at the White House Monday afternoon, seeking to obtain their approval for the deal.
A House Democratic leadership source cautioned that the full party caucus will need to give their approval to any deal, which House Speaker Nancy Pelosi, California Democrat, will likely present to them at a Tuesday evening meeting.
Other details include a temporary two percent reduction in payroll taxes to replace ObamaÂ’s 'Making Work Pay' tax credit from the 2009 stimulus bill, and a compromise on the estate tax, which will be set for two years at 35 percent, with a $5 million exemption amount.
The tax rate for capital gains and dividends will be maintained at 15 percent.
The estate tax solution comes from Sen. Blanche Lincoln, Arkansas Democrat, and Sen. Jon Kyl, Arizona Republican.
Obama views the unemployment benefit extension, as well as the payroll tax holiday, as measures which will stimulate the economy, which he has said is his top priority even if it means he must accept some things he does not want, such as a full extension of all tax cuts.
'We’ve got to make sure that we’re coming up with a solution, even if it’s not a hundred percent of what I want or what the Republicans want,' Obama said Monday during a speech in Winston-Salem, N.C. 'There’s no reason that ordinary Americans should see their taxes go up next year.'”
Daily Caller as of 4:15 today.
Posted by: Rosley at December 06, 2010 12:44 PM (kgDjA)
Oh, so all of a sudden The Vapid One© knows how to operate a calculator and can figure out that things cost money?
Wow, color me impressed.
Posted by: BackwardsBoy at December 06, 2010 12:44 PM (b6qrg)
O/t: Just realized Sotomayor looks like George Kennedy with a wig.
Put a wig on George Kennedy and he'd be Mila Kunis hot next to Senora Empathy.
Posted by: Circa (Insert Year Here) at December 06, 2010 12:45 PM (B+qrE)
Obama thought he was inheriting a recovering economy just like Clinton did in 1993.
Obama was so confident the economy was about to rebound, he thought he could blow a trillion bucks and pretend it was part of the economic recovery.
Obama thought wrong.
Posted by: Soothsayer Weiner at December 06, 2010 12:45 PM (uFokq)
Republicans have agreed to extend unemployment insurance benefits for an additional 13 months.
Loafers of the World, Unite!
Posted by: Unemployed Communist Sympathizer at December 06, 2010 12:46 PM (sqqku)
Posted by: Clyde Shelton at December 06, 2010 12:47 PM (NITzp)
Obama was so confident the economy was about to rebound, he thought he could blow a trillion bucks and pretend it was part of the economic recovery.
If Barky had gone to Economics class, this would never have happened.
Posted by: Disembodied Voice at December 06, 2010 12:48 PM (sqqku)
Posted by: InigoMontoya at December 06, 2010 12:49 PM (nZ34l)
Posted by: Vic at December 06, 2010 12:50 PM (e4sSD)
If Barky had gone to Economics class, this would never have happened.
One good hit from the crack pipe and it all would've gone up in a puff of smoke.
Posted by: BackwardsBoy at December 06, 2010 12:51 PM (b6qrg)
Posted by: Rep. Weiner at December 06, 2010 12:52 PM (uIFOI)
Posted by: InigoMontoya at December 06, 2010 12:55 PM (nZ34l)
Posted by: maverick muse at December 06, 2010 01:00 PM (H+LJc)
Posted by: Anthony Small Weiner at December 06, 2010 01:04 PM (zgZzy)
He doesn't need to win or lose, he needs to become irrelevant. It would be nice if he became irrelevant because people figured out that he has a head full of bad wiring, but whatever it takes.
Posted by: Merovign, Strong on His Mountain at December 06, 2010 01:08 PM (bxiXv)
Posted by: Anthony Weiner, Police Squad at December 06, 2010 01:08 PM (2dOeM)
Posted by: Mark Halperin at December 06, 2010 01:28 PM (gSk4l)
Posted by: toby928™ at December 06, 2010 01:42 PM (S5YRY)
Now he implies that a tax cut for the wealthy isn't necessarily a bad thing, except we can't afford it "right now."
Why is this always called a "tax cut for the wealthy" when all it is doing is maintaining the staus quo?
Posted by: Bill R. at December 06, 2010 01:44 PM (EhlQq)
Obama, by the way, is a liberal.
Having read the comments du jour over at HuffPaint, all I'm left with is to nod my head in total agreement.
Posted by: Count de Monet at December 06, 2010 01:59 PM (L3Wmw)
The first six months of Obama I often wondered if I would ever stop screaming. Now, I find myself chuckling quite a bit and am looking forward to some real belly laughs.
Obama has shot his bolt and is now engaged in a long retreat. Keep up the skeer!
Posted by: Tantor at December 06, 2010 07:44 PM (Ek/Oc)
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I barely did.
Posted by: Waterhouse at December 06, 2010 12:26 PM (ZF4/H)