Democrats Put Off Tax Showdown Until After Election
- Posted on September 23, 2010 at 10:02pm by
Meredith Jessup
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With the clock ticking down on the November midterm elections, congressional Democrats have decided to delay a debate over extending Bush-era tax cuts until after all the ballots are counted, bowing to political uncertainty of vulnerable candidates. The delay raises issues for taxpayers over future liabilities and ques up a big post-election lame-duck economic debate.
The Bush tax cuts are set to expire on Dec. 31, after which time tax rates would on income, estates, capital gains and dividends. Corporate tax credits and relief from the Alternative Minimum Tax (AMT) also are up for consideration and failure to renew these measures could have significant negative impacts on the nation’s economic recovery.
A spokesman for Majority Leader Harry Reid told Reuters late Thursday that Democrats face “internal divisions” and “potential Republican obstacles.”
“Democrats believe we must permanently extend tax cuts for the middle-class before they expire at the end of the year, and we will,” spokesman Jim Manley said in an email. “Unfortunately, to this point we have received no cooperation from Republicans to do so.”
The Republicans remain firm in their support for extending the tax cuts for all income levels and threatened to filibuster any measure that fell short. In addition, many vulnerable moderate Democrats remain unwilling to campaign for re-election with the party supporting what amounts to a tax increase on the nation’s top earners.
The Senate will come back after its recess for the November elections to address the issue, Manley said. While the Senate was widely expected to take the lead in tackling the issues, some House aides aren’t dismissing the potential for House leaders to schedule their own vote.
At the White House, President Barack Obama joins most congressional Democrats in supporting an extension of tax cuts for only the first $200,000 of a person’s income, $250,000 household income.
Senator Charles Grassley, the senior Republican on the Senate Finance Committee, condemned Senate Democrats’ decision to punt the issue until after the election, calling it irresponsible and reckless.
“Leaving people with uncertainty is a dereliction of duty. One party has control of the White House and both houses of Congress and still can‘t get the people’s business done,” he said in a statement.
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Comments (68)
Psychosis
Posted on September 24, 2010 at 4:14amum why do they need republicans to pass anything? dont they have majorities in both house and senate?make them vote now ……………before nov 2 so we can vote accordingly
Report Post »Contrarian51
Posted on September 24, 2010 at 1:46amI’d offer to let them increase my taxes if Reid and Pelosi would promise to quit and leave town forever, but I’m hoping to get one of these as a freebie.
Report Post »Debrabate
Posted on September 24, 2010 at 1:39amShocked?
not so much.
Report Post »snooze123
Posted on September 24, 2010 at 12:46amGet out your checkbooks people. Tax breaks are going away!
Report Post »barbiegirl ny
Posted on September 24, 2010 at 12:45amDo these low-life, degenerates think this ploy is going to save their desperate behinds in November?
Report Post »carol m
Posted on September 24, 2010 at 12:36amThis is absolutely ludacris, I really don’t care about the tax cuts because I know if we get them they will give with one hand and take back with another. They are so arrogant though that they won’t even give the illusion of trying to help. They are destroying us and they are not even trying to hide it.
Report Post »Scramblin
Posted on September 24, 2010 at 12:25amSo… any rational actor will liquidate their portfolio this fall. Capture the gains and wait. When the market melts down in the next 12 weeks who will be amazed? The morons and the leftist faithful I assume… although Soros has already moved.
Report Post »BurntHills
Posted on September 24, 2010 at 12:20amthis is exactly why we vote against them in 2010 —–and in 2012. we have to VOTE THEM OUT.
Report Post »haditup2here
Posted on September 24, 2010 at 12:07amTheir actions, or lack thereof, give credence to the report that Obama and his cronies are trying to destroy America intentionally. Something they could do to actually help us is out of the question.
Report Post »Cog
Posted on September 23, 2010 at 11:58pmNote to Senator Reid: We can hear you, and on November 2nd, you will hear all of us! (With a shout-out to President Bush for the sweet memory of the words..)
We who cling to our God have memorized II Chronicles 7:14. If you have not yet found this wonderful promise, find it, read it, believe it, live it and be ready for its miracles!
Report Post »MrButcher
Posted on September 23, 2010 at 11:54pmtaxes? taxes??? TAXES??? seriously, folks, what are taxes going to mean or matter once our currency, wages and PERSONAL FUNDS are reduced to meaningless dirt? what about food? what about electricity? what about gasoline? what about public services (police, fire etc), what about community cohesion? THAT is what we need to worry about! screw goddam taxes! screw stocks, bonds, 401k’s, markets, pentions, retirement plans, ssi, healthcare, obamacare, medicare, carING, EVEN the damn penny…all of it. worthless and different—think bigger people!—-this whole “bush tax cut” crap concept is so 20th century. human events are so beyond that. WE ARE BEING BANKRUPTED!! perhaps deliberatly. and there isn’t much we can do about it except…….be ready and vote for silly religious tea party canidates who have no idea WHAT they are getting into……i can’t even write anymore. its too sad.
Report Post »WISEPENNY
Posted on September 24, 2010 at 12:45amCan we get that signed in blood, MRBUTCHER? Because we’re sick of listening to your rhetoric, Bro!
Report Post »MrButcher
Posted on September 24, 2010 at 2:13amhow about vomit, piss and viniger? it is easier to come by than blood. if you want blood…then, well, it wont be mine but someone elses. so be careful what you ask for, douchebagger ;–])
DSTSS2010
Posted on September 24, 2010 at 7:10amPathetic! Why don’t you take your ball and go home. We don’t need you. Nobody needs you.
Report Post »WISEPENNY
Posted on September 23, 2010 at 11:31pmI liken their action to a political suicide on their part. That should help to firm the resolve to vote all of them that are in this 2010 election out the door! This action proves their ill intent. Give ‘em the axe, Tea Party. They proved they are willing to cut our throats with the healthcare mess they put on us. Don’t take no more chances. If they have a “D” by their name, vote against them for your own good.
Report Post »13thGenerationAmerican
Posted on September 23, 2010 at 11:17pmWhere do you people get your information? I bet there isn’t one person here who makes over 250k.
Report Post »Scramblin
Posted on September 24, 2010 at 12:30amThat would be 6x the median income and land you in the top .5%. I don’t think we give a $%^t what .5% think. We know theft is theft. If you earned your $250K God bless you (I‘m a Buddhist so don’t even go there). If you want to contribute more – do it. I do. But I give it directly to folks I see are in need. I don’t require a federal structure to focus my charity. Folks that don’t want to give should not be forced at gun point to be charitable… again- it’s called theft.
Report Post »Dodsfall
Posted on September 24, 2010 at 7:45amThe company I work for makes over $250K. Raising taxes gives less incentive to hire or keep employees, forces prices to raise, and gives more incentive to move operations overseas. It’s economics 101- If you want less of something (Like jobs) tax it more.
Report Post »glockomatic
Posted on September 24, 2010 at 10:51amYou lose your bet. That didn’t take long, did it?
Report Post »wingedwolf
Posted on September 24, 2010 at 12:12pmI am personally blessed to not have to work for money. have several good friends I’d like to tell you about. One of my girlfriends owns a travel agency. Her business until obama took office made about $325K per year. She had several employees, paid them decently and had a health insurance plan for the business. Last week, I ran into her. She now only has 1 employee, having had to lay all the others off because no one could afford to take trips like they used to, they don’t have any discretionary income. There isn’t enough work for them to do. She isn’t even taking a salary, there isn’t enough money for both of them to get a pay, and my friend’s husband is working, so she’s giving what pay there is to her employee. In 2009, her business took n $75K and so far this year she is on track to make $30K maybe. She is in the process of closing her business. Another girlfriend owns a very small organic grocery. Before obama, she generally took in about $275K, much of which gets put back into inventory. There has not been 1 year since she opened that she took home minimum wage after her overhead. Since obama, her income is miserable. She is barely breaking even, much less making a profit. If she had a mortgage she couldn’t afford to pay it. She will close in december. Another girlfriend owns a remodeling business with her domestic partner. She is an electrician and has to pay dues to the union to be allowed to keep operating. Her health insurance is over $1300 per month, she has to pay that herself. Since obama took office, they have had so few jobs that they, too will lose in december. If they tried to stay open, any of them, it would only get worse because obama is coming after them because they are the evil rich. Not one of them has bought a new car in the years I’ve known them. If they buy a car, it is used and inexpensive. Even when they were working every day, they weren’t making $250K or better, because as any business owner knows, just about everything taken in goes back into the business to pay for more merchandise and overhead costs. So, 13, be happy. Be very very happy, because 3 businesses which used to support the employees and families of 16 people are closing their door. There are three examples for you. They don’t have time to be here today because THEY ARE WORKING.
Report Post »Cynic-clinic
Posted on September 23, 2010 at 11:16pmThose COWARDS !!
Report Post »calrambler
Posted on September 23, 2010 at 11:14pmWhat a bunch of cowards. More uncertainty for businesses. More delay in making hiring and investing decisions. More delay in our economic recovery.
Report Post »Marylou7
Posted on September 23, 2010 at 11:13pmWhat a surprise, NOT!!
Report Post »conservativeme
Posted on September 23, 2010 at 10:50pmCowards – don’t want to vote “NO” and then face the music! I say vote the dems out for failing to vote!
Report Post »joseph Fawcett
Posted on September 23, 2010 at 10:45pmI wonder why they are not forcing it up our a_ses like they did with all the spending and the healthcare bill. Maybe because they know that not a single Dem will be elected to any seat if they did.
Report Post »Psychosis
Posted on September 23, 2010 at 10:28pmCap and Trade is designed and will in effect kill this country with insane spending in administration, high taxes, and then the implementation of cap and trade what do you think is going to happen to our economy when our currency starts to get siphoned off?
oh ya i forgot………..redistribution of our wealth is this presidents goal because he doesnt answer to us he answers to ideology and those perpetuating climate warfare
Report Post »PaleRyder
Posted on September 23, 2010 at 10:24pmThe left doesn’t have the guts to tackle any issue they might be held accountable for this close to November. How perfect would it be for Bush tax cuts to save the economy after years of the left lying about them and now have to keep them to save the economy. Lets drain the swamp and flush the nancy,harry and barry hate-america first agenda straight to the sewer from where it came.
Report Post »RojBlake
Posted on September 23, 2010 at 10:17pmI’m so tired of listening to these idiots…until Scott Brown they had unbeatable super-majorities but they had to push so far past anything remotely reasonable that thier own party balked.
Brow, Collins, & Snowe aren’t exactly “right-wing zealots”, but they didn’t have enough compromise to get along with the members of thier own party let alone anyone else.
The truth is that we did have that ever-elusive bi-partisanship…in opposition, but it‘s all Bush’s 7 the Republicans fault? These people are unbelievable in thier arrogance & the fact that the MSM hasn’t ponted that out on a monthly, let alone daily basis is borderline criminal.
Report Post »6.8 SPC
Posted on September 23, 2010 at 10:15pmAm SHOCKED that the one thing that would actually help this economy is the LAST thing this sorry congress would want to take up……Watch what these fools do in the “lame duck” session which I think will become the “vengeance session” for the really unpopular things..(card-check / cap and trade / VAT tax)….and you thought Obamacare sucked!!!!
Report Post »Marylou7
Posted on September 24, 2010 at 5:25amThey will attempt doing these things win or lose. It’s their agenda.
Report Post »megansmom
Posted on September 23, 2010 at 10:14pmI‘m still wonder how with the dem’s in the majority thee republicans are keeping them from making any decisions.
Report Post »baldwin4freedom
Posted on September 23, 2010 at 10:24pmThey are looking for accomplices in sharing the blame.
Report Post »poverty.sucks
Posted on September 23, 2010 at 10:12pmThat’s the best they can do?
Report Post »poverty.sucks
Posted on September 23, 2010 at 10:16pmPush-em back into the ring!
Report Post »Timekeeper
Posted on September 23, 2010 at 11:24pmDrag them back in kicking and screaming
Report Post »BeHeardAmerica
Posted on September 23, 2010 at 11:40pmHarry’s code word for… If he wins in Nov. He’s coming back with tax hikes.
Report Post »H2OBoardem
Posted on September 23, 2010 at 10:08pmGutless Wimps. Either you believe in it or you don’t. Since We the People Don’t, you won’t stand up for it.
Report Post »Slayer
Posted on September 24, 2010 at 1:01amDemocrats – Cowards! They know that if they suddenly go for tax cuts now, their base – who have been told for years that tax cuts are awful – are going to go nuts. Worthless Democrats!
Report Post »Take a look at the country (shambles!) and foreign policy (disaster!) after 4 years of them running the House and 22 months of this horror in the Presidency!
Contrarian51
Posted on September 24, 2010 at 1:49amSlayer, you’re cracking me up. Were you expecting courage, even in your wildest dreams? There’s a better chance of a mass conversion to capitalism.
Report Post »wingedwolf
Posted on September 24, 2010 at 11:27amH2OBOARDEM, I couldn’t agree more. I stumbled upon a video, both funny and serious, which you may want to watch and pass around to friends, especially your Black friends. It’s 18 minutes long, I know, but it is so relevant and this guy is very good.
Report Post »http://www.youtube.com/watch?v=xryXpK042pQ
walkwithme1966
Posted on September 24, 2010 at 10:56pmActually the latest from the Speakers office is that there will be a vote on this before they go home to campaign – this came out last this afternoon.
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