I struggle to find the compromise on tax cuts

[futurebeachbum]

Obama urges Democrats to support tax cut deal (I've tried to delete a lot of rhetoric.)

President Obama on Tuesday defended the deal he reached with Republicans on extending a broad range of expiring tax cuts, saying he did not want Americans to be harmed while he engages in a long-term political fight with the GOP.
Obama held a hastily arranged news conference to answer questions on the agreement struck late Monday.

Vice President Biden went to Capitol Hill to sell the agreement to Democrats who played no part in reaching a compromise Obama said he struck because Republicans would not budge.
....
Seeking to mollify angry Democrats, Obama vowed to fight further extensions of tax cuts for the wealthy when they expire in two years under the proposal being considered by Congress.

I understand the desire to not hold back unemployment benefits to settle the tax issue, but I can't figure out what the GOP compromised on.

Don't get me wrong. I think a government where our leaders actually negotiated in good faith and compromised on issues in a statemanlike way would be wonderful.

I just don't see it....

 

[AndrewG]

The GOP caved in and let Obama cut Social Security by 4%

 

[Douglas the Intrepid]

The GOP caved in and let Obama cut Social Security by 4%

Actually it was cut from 6.2% to 4.2% for one year to make up for the Make Work Pay Tax Credit expiring.

 

[Lake View Too]

It's simply a f**ked-up system where the minority party can call a halt to all legislation, no matter it's popularity or merit, by an insane "rule" called fillibuster. Enough said...

 

[GoodWitch58]

I agree and what really angers me is that too many of the "regular people" that the president is standing up for and doing the "right" thing for (despite the disapproval of his so called base), are the very same people who are ridiculing him; not voting for him; and not supporting the policies he has pushed through for them.

 

[hkem1]

I agree and what really angers me is that too many of the "regular people" that the president is standing up for and doing the "right" thing for (despite the disapproval of his so called base), are the very same people who are ridiculing him; not voting for him; and not supporting the policies he has pushed through for them.

Which regular people are you talking about? It seems like voting amongst the middle class was rather even and the lower class was heavily Obama.

 

[30ashopper]

Most of these cuts and credits fall on democratic side of the isle, so I'm not sure why democrats are so bent out of shape.

60 billion in unemployment benefits
120 billion in payroll cuts which target regressive payroll taxes
400 billion in extended 2001 & 2003 tax cuts for lower and middle class earners
40 billion in extended stimulus tax credits targeted at low and middle income earners
extension of various stimulus tax credits for small businesses

on the revenue side, an increase in the estate and/or gift tax

Dems just got their second 900 billion in stimulus, the concession was it was crafted as tax cuts and credits rather than spending, which is good.

I think democrats are just a little shell shocked. They don't get to design these things autonomously anymore, they actually have to work with the other side... :roll:

 

[30ashopper]

Really, it was republicans, especially the balanced budget types, who will have to make the biggest concession on this.

 

[Lake View Too]

Colbert pointed out that the rich are really not getting any more tax breaks than the the ones they have had for the last nine years, so exactly what new money are they going to use to "create all those new jobs" that they claim they are going create. The Republicant hostage-taking pretty much sunk the ship. Good night folks.

 

[GoodWitch58]

Which regular people are you talking about? It seems like voting amongst the middle class was rather even and the lower class was heavily Obama.

I'm talking about the latest election...especially in Florida.