House Democrats Not to take Obama/GOP tax bill

[kkddbb]

You are putting them on a pedestal, from your previous post:



You are still implying that the "millionaires" that are buying and building in the current market are going to be affected by this tax increase, again the tax increase will be on income not net worth. To get even more technical I believe that the increase is on payroll taxes so those heavy dividends from stock portfolios shouldn't be taking a big hit.

No one is saying that the government should take from the rich and give to the poor, that's a soundbite the GOP and Fox News like to toss around. The fact is that is what government does, in some cases they even take from the poor and give to the wealthy. The problem that most conservatives have is they cannot separate government and business and want to look at government as though it is a business.

I see youve jumped on the bash Fox and the GOP bandwagon. Well, that wont do you any good thats for sure. And in the end it doesnt do any good for America

To not see that this is in fact income redistribution is truly amazing to me. This is me banging my head up against a wall

 

[Matt J]

I see youve jumped on the bash Fox and the GOP bandwagon. Well, that wont do you any good thats for sure. And in the end it doesnt do any good for America

To not see that this is in fact income redistribution is truly amazing to me. This is me banging my head up against a wall

Most businesses are income redistribution, income redistribution has been going on since the invention of currency.

 

[idlewind]

Most businesses are income redistribution, income redistribution has been going on since the invention of currency.

Every economic transaction is an income redistribution but those are voluntary on both sides. What is wrong is when the government takes from one person and gives to another by force. I do not want someone in Washington deciding who has enough money and who needs more. I want the people in Washington to figure out how much money is needed to fund the legitimate functions of government and then collect those funds fairly.

 

[30A Skunkape]

Every economic transaction is an income redistribution but those are voluntary on both sides. What is wrong is when the government takes from one person and gives to another by force. I do not want someone in Washington deciding who has enough money and who needs more. I want the people in Washington to figure out how much money is needed to fund the legitimate functions of government and then collect those funds fairly.

Define legitimate functions of government. Once that consensus is arrived at it will be simple to collect and allocate funds in a manner all agree to:funn:

 

[BeachSiO2]

I find it appropriate that this bill is coming around at Christmas time because after all the ornaments get hung this will be one huge tree with something for everyone to get the votes.

 

[GoodWitch58]

http://www.nytimes.com/2010/12/10/opinion/10brooks.html?_r=1&hp

The fact is, Obama and the Democrats have had an excellent week. The White House negotiators did an outstanding job for their side. With little leverage, they got not only the unemployment insurance, but also an Earned Income Tax Credit provision, a college scholarship provision and other Democratic goodies. With little leverage, they got a package that could win grudging praise from big-name liberal groups like the Center on Budget and Policy Priorities and the Center for American Progress.

Moreover, Obama has put himself in a position to govern again. The package is popular. According to the most recent Gallup numbers, 67 percent of independents and 52 percent of Democrats support extending all the tax cuts. Higher numbers support extending the unemployment insurance. Obama is reminding independents why they liked him in the first place.

He only needs to work on two things. He needs to explain his method better than he did in his press conference. It is entirely consistent to support a policy and be willing to move off of it in exchange for a greater good or a necessary accommodation. That?s called real life.

Conservative columnist David Brooks sums up the situation pretty well, I think.

 

[BeachSiO2]

The tax vote appears to be moving..

Breaking News Alert: Obama-GOP tax cut deal passes key Senate test
December 13, 2010 4:13:17 PM
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A sweeping tax package negotiated by President Obama and Republican leaders has won 60 votes in the Senate, enough to end debate and move to final passage as soon as Tuesday night. A final tally may not be available for hours, however, as the vote was being held open to accommodate senators traveling back to Washington.

If approved by the Senate, the measure would go to the House, where many Democrats are more reluctant to back the compromise, which would extend tax breaks enacted during the Bush administration for taxpayers at all income levels, including the very wealthiest households. Many House Democrats are particularly upset about a provision that would exempt estates worth up to $10 million from a revived estate tax.

Earlier Monday, House Majority Leader Steny Hoyer (D-Md.) said the House may try to amend the terms of the estate tax, a risky move that would sent the bill back to the Senate and potentially upend the bipartisan compromise -- increasing the odds that a host of tax cuts could expire on New Year's Eve.

 

[Linda]

The tax vote appears to be moving..

I thought that the estate tax provision was exempt to 5 million - not 10 million

 

[scooterbug44]

I thought that the estate tax provision was exempt to 5 million - not 10 million

Surprise! :roll:

So everyone gets a tax cut we can't afford and we lose further revenue by hiking the estate tax level. Good job politicians, way to balance the budget and reduce the deficit.

 

[Linda]

Surprise! :roll:

So everyone gets a tax cut we can't afford and we lose further revenue by hiking the estate tax level. Good job politicians, way to balance the budget and reduce the deficit.

I think that BeachSIO2's article is incorrect. The estate tax exemption is 5 million - not 10 million.