The Obama Tax Compromise

[ChasC5]

Originally Posted by Peter Pan

You are right here both sides are spending way to much and yes the Dems have uncontrolled spending and even more taxes will not get us out of the current lib spending habits, not that the reps can, time for our Govt to spend less than they tax to get our books in order

You two need a room.

[ChasC5]

Originally Posted by TxAg

You need a clue.

Grow up and actually make a point or STFU Chas.

Meeeowwwww.

[Exotix]

Independent-Socialist ... ... Senator from Vermont, Bernie Sanders, made good on his threat to filibuster US President Barack Obama’s deal with Republicans to extend the Bush Tax Cuts in exchange for an extension on unemployment benefits.

Today

Sanders Filibusters Bush Tax Cut Deal





The Friday filibuster lasted 8.5 hours, the longest Congressional protest to occur on the Senate floor in 27 years.
Sanders started at 10:25 a.m. and finally restored control back to the Speaker at 07:00 p.m.

The Socialist was aided by Democrat Party comrades Sherrod Brown from Ohio ... .... who gave a 45-minute speech against the Obama deal, and Mary Landrieu from Louisiana, who spoke for 30 minutes.


The Friday filibuster lasted 8.5 hours, the longest Congressional protest to occur on the Senate floor in 27 years. Sanders started at 10:25 a.m. and finally restored control back to the Speaker at 07:00 p.m.

The Socialist was aided by Democrat Party comrades Sherrod Brown from Ohio, who gave a 45-minute speech against the Obama deal, and Mary Landrieu from Louisiana, who spoke for 30 minutes.

History shows that, while effective in drawing attention to the legislation being filibustered, the marathon protests rarely are effective in stopping it from becoming law.

Strom Thurmond and Robert Byrd broke records in their unsuccessful filibusters to stop Civil Rights bills from becoming law in the 1950′s and 1960′s.
However, before his assassination in 1935, Louisiana Senator Huey Long was able to stop bills that rewarded wealthy Americans at the expense of the poor.




While pundits predict Sanders will ultimately be unable to stop Obama’s deal on the Bush tax cuts, The LA Times dubbed it a success because of its attention-getting quality.

A live stream of the event from Sanders’ official website drew 12,000 viewers at one point, crashing the servers.

The event was also a hot topic of discussion on the micro-blogging website Twitter; the Senator was able to more than double his followers from 9,800 to 21,000 because of the coverage.

The UK Guardian said Sanders will help to stiffen Democrat’s resolve in the next session of Congress, and suggested that he may mount a presidential challenge to Obama in the 2012 elections.

Senate Majority Leader Harry Reid said he would bring the Obama tax deal up for vote next week, despite the Sanders filibuster.

YouTube - Sanders Filibuster Begins...

Bernie Sanders, Democrats And Other Insane Asylum Members ...


Today

Bernie Sanders, Democrats And Other Insane Asylum Members | The Moderate Voice


The Democrats are the best compassionate political party in America and the worst at governing, except for the Republicans who want no part of it but say they do.

The Democratic mantra was expressed eloquently and redundantly Friday by Sen. Bernie Sanders, the independent from Vermont.

Sanders spoke for eight hours in an empty Senate chambers extolling the grief inflicted upon us by those dastardly devilish Republicans who he described as greedy bastards who can afford a penny ante 4% tax increase.

In those eight hours, Sanders recapped history of how the American working man is getting screwed, highlighted by the once golden standard auto workers who’s salaries in just the past three years have shrunk from $27 to $14 an hour.




The problem with Sanders and his Democratic Party buddies is that their policies work only if unemployment is below 3%, the economy is riding the latest artificial bubble and the nation is not at war with some fourth rate rogue nation or terrorist group which hijacked a religion.

It grieves my sensibilities that the Democratic Party argument against extending the Bush tax cuts for the top 2% would cost an additional $700 billion in 10 years to our national debt.

And not once point out that the tax cuts for those earners under $250K would cost $3 trillion over the same 10-year period.




Ah, conventional wisdom tells us never to raise taxes on anyone during a recession.

Bunk, I say. Prove it.

The conservatives who argue for less taxes and limited government can’t. Nor can the Democratic Keynesian economists.
At least not in this recession even though the idiots declared it over last year.

This is why the worst of all worlds, the compromise everyone hates most or part of, is the only deal we are forced fed to live with.




That is the one now being worked out brokered by President Obama and Senate Republicans.

It is the political can kicked down the road for two years by extending all the Bush tax cuts until days after the presidential election in 2012, extending unemployment benefits an additional 13 months, cutting the payroll tax 2% for one year, exempting taxes on business expansion for one year and taxing estates 50% over a predetermined multimillion dollar threshold.

Former President Clinton says it is the best political deal under the worst of economic conditions.

If Bill Clinton says it, it must be true.

Right.






Bernie Sanders argues for Veterans compensation at a *Middle Class is Collapsing* Ralley July 2008 ... rejected yesterday by the Republicans.

[Y2Kvert4me]

Originally Posted by Exotix

It grieves my sensibilities that the Democratic Party argument against extending the Bush tax cuts for the top 2% would cost an additional $700 billion in 10 years to our national debt.

And not once point out that the tax cuts for those earners under $250K would cost $3 trillion over the same 10-year period.

Penny-wise, dollar-foolish.

[Exotix]

Originally Posted by Y2Kvert4me

Penny-wise, dollar-foolish.

I'd be curious as to what some of the Bush worshippers have to say about the below quote from the article when he signed his first $1.37 Trillion Bush Tax Cut because ... *that's what wise-men do when you have a surplus left-over from the previous administration ... *

The problem with Sanders and his Democratic Party buddies is that their policies work only if unemployment is below 3%, the economy is riding the latest artificial bubble and the nation is not at war with some fourth rate rogue nation or terrorist group which hijacked a religion.

[Y2Kvert4me]

Originally Posted by Exotix

I'd be curious as to what some of the Bush worshippers have to say about the below quote from the article when he signed his first $1.37 Trillion Bush Tax Cut because ... *that's what wise-men do when you have a surplus left-over from the previous administration ... *

And those tax cuts didn't significantly affect the budget plan for 6 years. Go figure.

Only when increased spending came into play did the budget deficit suddenly appear, yet you blame the (unchanged) tax structure as the root cause?

Expand your logic and consider other variables for a "change". With 10% unemployment, promoting higher taxes to everyone isn't likely to solve the economic issues we face. Raising taxes to only those who already pay the most will certainly make it worse.


And for REAL change, instead of simply quoting a media source, what are YOUR ideas to remedy the situation? The exotix claims to know it all, now is his time to share his ideas and solutions instead of merely critiquing past presidents.

if you know what they did wrong, certainly you know what to do to fix it, no?

[Exotix]

Originally Posted by Y2Kvert4me

And those tax cuts didn't significantly affect the budget plan for 6 years. Go figure.

Only when increased spending came into play did the budget deficit suddenly appear, yet you blame the (unchanged) tax structure as the root cause?

Expand your logic and consider other variables for a "change". With 10% unemployment, promoting higher taxes to everyone isn't likely to solve the economic issues we face. Raising taxes to only those who already pay the most will certainly make it worse.


And for REAL change, instead of simply quoting a media source, what are YOUR ideas to remedy the situation? The exotix claims to know it all, now is his time to share his ideas and solutions instead of merely critiquing past presidents.

if you know what they did wrong, certainly you know what to do to fix it, no?

First, when I quoted from these media sources ... well, the exotix has no problem with quoting from wackadoo media bents that proliferate from one end of the political spectrum to the other ...

... say for instance here's one from that *other side of the political bent* you will never ever see from right-wacko media let alone the Republican Party ..



Financial Times ~ ‘Dangerous’ GOP Supply-Side Tax-Cuts Will Destroy America


July 26, 2010


http://chattahbox.com/business/2010/...stroy-america/



Democrats, economists, financial experts, even a former Bush economic adviser, have all sounded the alarm on the danger of the failed Republican economic policies of ignoring the deficit when cutting taxes for the rich, by refusing to cut spending in other areas to pay for them.

Republicans have amnesia when it comes to their failed supply-side economics policies of the Reagan and Bush administrations.

What is the GOP plan, if they win the House majority in the November elections?
Cut taxes for the rich.
How will they be paid for?

Tax cuts for the wealthy pay for themselves, insist Republicans.
Outside of the GOP rabbit hole, in the reality-based world, tax cuts DO NOT pay for themselves, they add to the deficit.

Martin Wolf, associate editor of the UK Financial Times, penned a provocative piece condemning the failed supply-side economic policies of Republicans, as a “dangerous,” and “irresponsible and unsustainable” calculated political scam that promises voters a “free lunch,” while destroying the American economy.



Wolf is fearful that if the GOP regains power in the mid-term elections, they will finish the job that George W. Bush started and nearly succeeded at.
And take America into insolvency, dragging down the rest of the world with us.




Some key takeaways from Wolf’s apt doomsday piece:


■ Republican supply-side economic policies are about to take us over a cliff and there are no longer sane voices in the GOP to stop it.

“Republicans have no interest in doing anything sensible,” writes Wolf.
And when the Democrats under the Clinton administration created a healthy sound surplus, the Republicans pissed it away as soon as they regained power.



■ Republicans are hypocritical when it comes to their deficit concerns.

“But no, it is not deficits themselves that worry Republicans, but rather how they are caused: deficits caused by tax cuts are fine; but spending increases brought in by Democrats are diabolical, unless on the military,” says Wolf.



■ The stimulus bill was too small to have a true stimulative effect on our economy.

And the U.S. desperately needs more stimulus, NOT more tax cuts.

“In any case, the stimulus was certainly too small, not too large.”

Wolf concludes that “across-the-board tax cuts are an extremely inefficient way of providing it.”




■ Republican tax-cutting policies have developed into a familiar scam.

They cut taxes and the deficit explodes.

Republicans then start screeching they need to cut social welfare programs to reduce the deficit, as evidenced by the recent fight over paying for the extension of emergency unemployment benefits.



Suddenly, the deficit matters to the GOP when it involves spending money on poor people.
And then they cut taxes some more.

Supply-side economics is based on a vicious and destructive rationale.





Writes Wolf, “The political genius of this idea is evident.
Supply-side economics transformed Republicans from a minority party into a majority party.
It allowed them to promise lower taxes, lower deficits and, in effect, unchanged spending.

Why should people not like this combination? Who does not like a free lunch?”



“Finally, if deficits did not, in fact, disappear, conservatives could fall back on the “starve the beast” theory: deficits would create a fiscal crisis that would force the government to cut spending and even destroy the hated welfare state.”





What does this say for the future of America’s economy ?

Wolf envisions an eventual catastrophe, and he may be right.
Paul Krugman,The New York Times Pulitzer Prize-wining economist, said of Wolf’s piece:

“Wolf’s argument and main points are similar to those I made in a recent column; that’s not a criticism, because we need more people saying this.Martin ends on a deeply pessimistic note.
I wish I could disagree.”


Wolf concludes, the U.S. economy will continue to deteriorate, as long as Republicans continue to insist tax cuts are self-financing.

“Finally, with one party indifferent to deficits, provided they are brought about by tax cuts, and the other party relatively fiscally responsible (well, everything is relative, after all), but opposed to spending cuts on core programmes, US fiscal policy is paralysed.

I may think the policies of the UK government dangerously austere, but at least it can act.”





Perhaps the best takeaway from Wolf’s condemnation of GOP policies, comes in a comment defending himself against attacks that he is a crazy Socialist.

He responds by daring Republicans to be honest with their constituents about their tax-cutting, small government policies, by actually admitting what programs they will cut to pay for tax cuts for the rich:

“A number of commentators assume that I am a European socialist (not true) and am attacking the Republicans for this reason (also not true).

I believe Americans are entitled to make their own choices.
But then make it an honest choice.




Let the Republicans stand at the next election on the following principles: abolition of Medicare (and, of course, the recent health care bill); abolition of Social Security; abolition of federal assistance to the states; and radical tax cuts. I think that would be an honest programme.

I strongly suspect it would be politically suicidal.
But promising the tax cuts without specifying the spending cuts is dishonest and dishonourable.

Would paying for the promises the US has made to its citizens destroy the economy ?
No, in my view and certainly not as much as not paying would.”

Yes, indeed.
When you hear Republican lawmakers promoting unpaid for tax cuts, ask them point blank what programs they will eliminate to reduce the deficit.

So far, the GOP is unwilling to answer that question.




(R-Ky.) Sen. *Obama is a one-term President* Mitch McConnell does the now infamous (R) Iraq Flak Jacket Walk in the city of Sab-al-Bor in April of 2009 ...

[ChasC5]

Well there you have it.

[leec4ce]

Originally Posted by Joecooool

So it should be real easy for you to provide examples then.

Yes very easy.

[Z06PDQ]

"GOP Will Destroy America." ............... that's some scary **** right there.

[ChasC5]

Originally Posted by Tinkerbell in Texas

Chas, what is a tax?? it's TAKING money from the person who earns it.
A tax cut is NOT taking as much of their money as previously.

Do you balance the budget in your household?

If you do, then there’s no further need to pretend you don’t know the obvious.

[Kneel 8250]

Originally Posted by ChasC5

Do you balance the budget in your household?

If you do, then there’s no further need to pretend you don’t know the obvious.

Meeeeooooow !!!!!!

Meeeowwwww.

[ChasC5]

Originally Posted by Kneel 8250

Meeeeooooow !!!!!!

Meeeowwwww.

Don’t get me started … that was a slow inside curve ball that will never come down after I hit it.

[Kneel 8250]

Originally Posted by ChasC5

Don’t get me started … that was a slow inside curve ball that will never come down after I hit it.

Took me a couple of minutes to find it too. Tho I did remember it was there which for me is a REAL bonus.

[Kneel 8250]

Originally Posted by ChasC5

Don’t get me started … that was a slow inside curve ball that will never come down after I hit it.

Maybe I should quote it so it is there for posterity. Well thats if I can ever find it again eh!!!!!!!!!!! You know at my age ............

[Exotix]

Tax Debate (Compromise) in Session ... (special Boehner tearing-up bonus inside)


http://www.msnbc.msn.com/id/21134540/vp/40638994#40638994

[Kneel 8250]

Originally Posted by Exotix

Tax Debate (Compromise) in Session ... (special Boehner tearing-up bonus inside)


msnbc.com Video Player

CRIKEY !!!!!!!!
Is this the tax debate thread????????

[Peter Pan]

Originally Posted by ChasC5

Do you balance the budget in your household?

If you do, then there’s no further need to pretend you don’t know the obvious.

Budget, no I am starting to follow the lead of the President and Congress, seems what they have done in the last two years meets your approval, so I am jumping on their budget bandwagon

[Exotix]

Originally Posted by Kneel 8250

CRIKEY !!!!!!!!
Is this the tax debate thread????????

Well, Boner does say the (R) hostage-taking compromise (that he objects to being called) thinks it will create jobs ... keyphrase here is ... *he thinks* ...

Otherwise he's backing himself by crying for the camera that because he worked as a janitor ... you can too ...

[Kneel 8250]

Originally Posted by Exotix

Well, Boner does say the (R) hostage-taking compromise (that he objects to being called) thinks it will create jobs ... keyphrase here is ... *he thinks* ...

Otherwise he's backing himself by crying for the camera that because he worked as a janitor ... you can too ...

I love that line. It's great. Might have to refer back to that later too.
Hey !!!!! You never know your luck in a big city and it might work in another thread somewhere.