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Sunday, June 16, 2024

On-again, off-again tax cut off again until after election

House Majority Leader Steny Hoyer (AP)

The White House and Democratic leaders in Congress said Sunday they would find a way to extend middle-class tax cuts after the November elections, unable to secure GOP backing before lawmakers break to campaign.

“One way or the other, we’re going to get it done. And I believe the pressure is going to build among the American people” said David Axelrod, President Barack Obama‘s top political aide.

House Speaker Nancy Pelosi, D-Calif., had suggested that a vote could be held this coming week before lawmakers leave town for the elections. But her deputy, Majority Leader Steny Hoyer of Maryland, said Sunday that holding a vote wouldn’t matter because the legislation is still languishing in the Senate under GOP objections.

Both parties are using the delay in a vote on the fate of these George W. Bush-era cuts at a time of record deficits as political ammunition this election season.

Democratic leaders have said they want to freeze tax rates for individuals making up to $200,000 and for families earning up to $250,000. Republicans, as well as some more conservative Democrats, want to extend all of Bush’s income tax cuts permanently, even for the wealthiest of Americans.

Democrats think the climate for compromise will improve after the election. They will still need at least one Republican vote in the Senate to pass a bill.

“We are for making sure that the middle-class Americans do not get a tax increase. And we’re going to make sure that happens,” Hoyer said.

Republicans say they want a chance to debate extending the tax cuts beyond the middle class or else they will block the Democratic proposal.

“If she’s not willing to have a fair and open debate, she should not count on our votes,” House GOP Leader John Boehner said of Pelosi.

Axelrod said that kind of strong-arm tactic will hurt Republicans in this fall’s election.

“They’re going to have to explain to their constituents why they’re holding up tax cuts for the middle class,” Axelrod said. “And I think it’s an untenable position to say, “We’re going to allow your taxes to go up on January 1st unless the president agrees to give tax cuts to millionaires and billionaires.”

The Senate’s second-ranking Democrat said he hoped the atmosphere will have changed after the election and the impassed ended. “Occasionally one Republican will break ranks and help us,” said Sen. Dick Durbin, D-Ill.

Still, Republicans have seized on the impasse in Congress by alleging that Democrats are contributing to consumer uncertainty.

“The Democrats have failed to lead this,” said Rep. Kevin McCarthy, R-Calif. “They are going to want to leave the House without dealing with it. That uncertainty itself is keeping capital on the sidelines and keeping jobs from being created in America.”

Boehner said that if the House leaves without blocking the tax increases, “it will be the most irresponsible thing that I’ve seen since I have been in Washington, D.C.”

Axelrod spoke on ABC’s “This Week.” Hoyer, Boehner and McCarthy appeared “Fox News Sunday.” Durbin was on CNN’s “State of the Union.”

Copyright © 2010 The Associated Press

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4 thoughts on “On-again, off-again tax cut off again until after election”

  1. I think I’d rather saw my testicles off with a blunt hacksaw than listen to the many ways the banksters / gubbamint / neocons plan to steal what little money I have left for their ME wars, decadent lifestyles and all-around general-purpose evil.

  2. I love it when they play politics with our wallets. Everyone loves the middle class during election season. Come December the “haves and the have mores” will be their only concern.

  3. Talk about lying Congressional bloviators or what here…?

    A bill, HR-4646 “Debt Free America Act” has been introduced by Chaka Fattah, Dem-PA. It is now in committee and will probably not be brought out until after the Nov. elections. I suggest that you pass this along and also to your state senator and representative and US Congressman and Senators. It’s also supposed to replace the income tax. Replacing the income tax is about as remote as eliminating the Federal Reserve, both dropped upon us in 1913 by scheming banking oligarchs in the early part of the 20th century. Both have destroyed this nation within 100 years of being foisted on our unsuspecting public. If this bill were to pass, rest assured the income tax will still be in place.

    The following:

    One percent transaction tax is proposed.

    President Obama’s finance team is recommending a transaction tax. His plan is to sneak it in after the November election to keep it under the radar. This is a 1% tax on all transactions at any financial institution i. e. Banks, Credit Unions, etc.. Any deposit you make, or move around within your account; i.e., transfer to, will have a 1% tax charged. If your pay check or your social Security or whatever is direct deposit, 1% tax charged. If you hand carry a check in to deposit, 1% tax charged, If you take cash in to deposit, 1% tax charged.This is from the man who promised that if you make under $250,000 per year, you will not see one penny of new tax.

    Some will say it’s just 1%…remember once the tax is there they can raise it at will. One percent of $1000 is $10. So much of our transactions are auto deposits from paychecks, pensions, SS, etc. So there would be a constant nipping away at people’s incomes, pensions, SS and any other deposit be it credit or debit being relentlessly taxed 24/7/365. We’re so broke as a nation that legislators are now coming up with ideas on how to feed upon ourselves in the end.

    A ‘Debt Free AmeriKa’ my butt. It will just give these terminal spendthrifts more money to blow away on foreign adventurism (wars), foreign ‘aid’ and a host of pork barrel projects. Hopefully this nightmare won’t fly, but you never can be sure of anything in these interesting end times for the Republic.

    Carl Nemo **==

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