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Reply #4: House Passes Tax Cut Retaining Lower Rates (they have no shame) [View All]

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rodeodance Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-05 05:30 PM
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4. House Passes Tax Cut Retaining Lower Rates (they have no shame)





http://news.yahoo.com/s/ap/congress_taxes;_ylt=Aj0GgUB2NtvG.km.tKtXX2ms0NUE;_ylu=X3oDMTA2Z2szazkxBHNlYwN0bQ
House Passes Tax Cut Retaining Lower Rates
By MARY DALRYMPLE, AP Tax Writer 15 minutes ago

WASHINGTON - The House voted Thursday to preserve tax cuts for investors through the rest of the decade, safeguarding the centerpiece of the Republican tax agenda in a $56 billion package of tax breaks.


The bill, passed 234-197 along mostly party lines, would keep the 15 percent top tax rate for capital gains and dividends in place in 2009 and 2010, two years after their scheduled disappearance at the end of 2008.
.....

Democrats disagreed and said the tax cuts for investment income, and much of the GOP's economic agenda, exacerbated budget deficits and ignored average workers.

"The poor suffer. The rich benefit. The middle class is paying the bill," said House Minority Leader Nancy Pelosi, D-Calif........
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