Obama backs plan to extend tax cuts

[sabra]

Source: FT

President Barack Obama has given his explicit approval for a deal that would allow all Bush-era tax cuts to be extended for two years as long as unemployment benefits were also continued, as lawmakers from both parties edged towards a compromise.

The deal, which could be finalised as soon as Tuesday, would meet Republican demands that no Americans should face a tax increase while the economy remained in poor shape, but without ceding to their insistence that all the cuts be made permanent.

It would also satisfy Democrat demands that benefits for more than 2m out-of-work people be reinstated, although many lawmakers from the president’s party are incensed that continued tax cuts for the richest 2 per cent of Americans are the price of the deal.

Speaking at Forsyth Technical Community College in Winston-Salem, North Carolina, on Monday, Mr Obama renewed his opposition to even a temporary extension of the Bush tax cuts if it did not include an extension of benefits for the unemployed and extensions of other tax cuts that benefit middle class families. These include a “Make Work Pay” tax worth up to $800 annually for a married couple, boosted college-tuition tax credits and an increased earned-income tax credit. All were included in last year’s economic stimulus package.

...

“They are making progress,” said Bill Burton, a White House spokesman. “The president is confident that within the next couple of days or so we’ll find a way to extend tax cuts to middle class families and do some other things that the president thinks are important, helping to grow the economy and create jobs.”

Read more: http://www.ft.com/cms/s/0/e20e7518-015d-11e0-9b29-00144feab49a,s01=1.html#axzz17MPpCZ7w

[Name removed]

1. Deleted message

Message removed by moderator. Click here to review the message board rules.

[a kennedy]

2. and can we PLEASE STOP with these terrible entries.....

thank you.

[saigon68]

57. A disgusting boot lick for the rich

[BlueJazz]

3. As I said on the other post: You want my opinion?? (Now you understand what I was saying)

[saigon68]

36. Another PROFILE IN COURAGE

DISGUSTING

[BlueJazz]

46. I do what I can to make this a better world.

[xchrom]

4. Shrug - what're ya gonna do? Nt

[closeupready]

5. Sigh.

:mad:

[Roy Rolling]

6. don't negotiate with Republican hostage-takers

So, bad corporate and inequitable tax polices create unemployment and now we will extend those bad policies just to maintain the unemployed created by them? I would rather see everyone pay more tax and let unemployment expire. Why? Because without unemployment checks the companies that control the government will start to feel the pain. Until they feel some of the pain they are causing (by fiscal policies exclusively for the rich) they will continue to do it. It is harsh, but it is a quicker than the ineveitable slow and sustained pain we will feel from bad policies like tax cuts for the rich and capitulating to greedy corporations and their lobbyists.

[pnorman]

15. Yes, he's our Unitary President!

So he should declare Martial Law, and incarcerate all those Road Block Reptilicans!

[onehandle]

7. I am shocked. Shocked I say. nt

[gratuitous]

8. It's like watching a bad punt returner

Punt returns are a very specialized special teams function. Basically, a team could fair catch every punt, and probably wouldn't suffer for it. After all, forcing the other team to punt is a victory for your defense. Good teams work on punt returns, setting up blocking schemes and recruiting speedy players with good hands to handle punts. A good punt returner can be a formidable weapon.

But a bad punt returner can turn the little victories that the defense earns into horrible losses. A muffed or fumbled punt can undo a stout defensive stand. But perhaps even worse is the punt returner who insists on going backwards after fielding the ball, giving up field position in the hopes of out-flanking the coverage to make a big return. But unless the returner is considerably faster than every player on the coverage team, he's going to consistently lose yardage and never break the long return he's hoping for.

[No Elephants]

60. LOL!

[BadgerKid]

9. IMO this amounts to finding the wiggle room

for the middle class while staying on course for the top 2% elite.

The country is being bled dry by (at the very least) the elite, wars/occupations, and outsourcing.

[Bryn]

10. How about this?

dated Sept. 15, 2010 (3 mo. ago)

Democrats Seize On McConnell's Plan To Add $4 Trillion To The Deficit With Tax Cuts

While they're figuring out how to proceed themselves, Democrats are giddy about a damning new report: The tax cut plan proposed by Senate Minority Leader Mitch McConnell (and backed by the vast majority of the GOP) to make all of the Bush tax cuts permanent will add about $4 trillion to the deficit over 10 years.

http://tpmdc.talkingpointsmemo.com/2010/09/democrats-seize-on-mcconnells-plan-to-add-4-trillion-to-the-deficit.php

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

If this is true that $4 trillion will be added to the deficit who pays for it? You, your children, your grandchildren, great grandchildren ....

[elmerdem]

11. I never thought I would say this, but

I will be voting for Obama's primary challenger.

[tpsbmam]

19. +1 Never thought I'd be saying it either. Sad that I am. n/t

[NeoConsSuck]

30. I'm with you

the slogan in 2004 was 'Anybody but Bush'. In 2012 it will be 'Anybody but Obama'.

[Laf.La.Dem.]

12. We won!!!!

They get $700 billion for the rich

We get $20 billion to help the unemployed

Sounds fair to me:banghead:

[NeoConsSuck]

29. What does that say about our country?

If you already have a job, here is a nice tax cut. If you're unemployed and visiting soup kitchens, we *might* let you continue unemployment insurance.

I wish I was never born in this country, but I'm too old now for another country to take me.

[saigon68]

37. Disgusting

[connecticut yankee]

13. He has lost me

I'm sorry to say it, but I've been giving him (Obama) the benefit of the doubt for months now, hoping that he would develop some backbone.

I've had it.

[NeoConsSuck]

33. Then change that ridiculous avatar (no txt)

[aquart]

14. He negotiates with terrorists then.

He actually encouraged the Republicans to hold our unemployed hostage to the rich.

AND THE NEXT TIME THE EXTENSION RUNS OUT? WHAT WILL HE GIVE THEM THEN? OUR SOCIAL SECURITY?

[woodsprite]

21. By then, they'll be gearing up for a Repub Pres, so they won't need to address it. n/t

[florida08]

16. This is negotiating?

Republican and Democratic lawmakers were meeting on Capitol Hill on Monday to hammer out the details of the deal, which is expected to see all the Bush-era tax cuts extended for two years and the jobless benefits for one year.

We were not worth a guarantee of 2 years.

[Bigmack]

17. OK.. So we got sold out for 2 years...

of the rich making more. So we've been pimped.

Now the only question is, how much did we get paid for getting screwed..... how many months of unemployment?

Man, I hope we get more than 6 months... that'd be insulting. Crack ho prices.

A year would make us worth at least as much as good street meat.

Two years of unemployment extension... well, now we're talking call girl prices.

[LastLiberal in PalmSprings]

28. Extending the tax cuts two years = making them permanent

The Repukes will play the same game in 2012 as 2010, only much better. Rove et al. have bragged about the trap they set when they got the "temporary" tax cuts passed. Well, it's just snapped shut.

[Bigmack]

45. Replying to my own post...

Thirteen months? Well, I guess that puts us out on the corner in thigh-high boots and spandex skivvies.

[Bryn]

18. This Toon says it all

[StarsInHerHair]

54. the cartoonists have said it best since Jan '01

why don't the Dems?

[SemperEadem]

20. I don't get how this can be

I mean, I get the mechanics of it... I don't get how thugs can look themselves in the eye and call themselves xtians and embrace the rich man, who ain't getting into heaven according to the words of the one they claim they worship, while shitting on the people mainly affected by the policies of rich people who buy congress.

Camels are flying through eyes of needles these days.

[BigD_95]

22. this is the last straw!!!

Im done with Obama! I loved that guy. Meant him at the Lancaster, PA train station and shook his hand.

He sold us out! He has no fight!

extend for two years??? Whats coming up in 2 years ??? So the Republicans take over the senate and will win the White House for sure and then make the tax cuts for the rich permit.

Obama you are the biggest disappointment ever!!!!

[8 track mind]

23. This had to be an extremely tough desicion for him

Think about it: the refucks are holding unemployment extension benefits hostage and the blue dogs are making things worse. What's the lesser of the two evils here? There are a lot of unemployed people who are going to suffer right now, tax cut or not. One path is nothing but land mines, the other is covered in pissed off rattlesnakes.

Honestly, I don't envy the President at all right now. The pressure on him must be immense. I truly hope he can work out a solution on this.

[David__77]

25. He could have maybe instead done something politicall smart.

This is what I what have done: offer a revenue-neutral compromise where middle and low income earners all get a small tax cut and the cuts for the wealthy expire. Then he's have public opinion on his side because who doens't want a tax cut, and he could state that his plan offered further relief to those who need it most. What's wrong with THAT idea??

[saigon68]

35. Getting an Enema is a tough decision for him too

[David__77]

24. Well I certainly can't defend him. Now he's a worse version of Gray Davis.

Gray Davis DID win reelection before being recalled, but only because California is Democratic and his opponent was an idiot and at least Davis could run a competent campaign. I just can't defend Obama, not that I've been able to for a long time. I'm not unrealistic about political pragmatism, but there's never been such an amazing case of political incompetence and trickery.

[Zhade]

26. Another broken promise. More lost votes for Dems. More free money for the rich.

This is such fucking bullshit.

[Roland99]

27. They were a bad idea then, they're a bad idea now!

So much for "change"

[otohara]

31. The President is Confident

I'm kinda sick of hearing that one.

Disheartened and disgusted by this news.

[PassingFair]

32. There it is.

:party:

Victory is ours!

:puke:

[4dsc]

34. Good bye Mr President its been nice

If this compromise goes through then I am through with the president.

[Alhena]

38. They are now the "Bush-Obama Tax Cuts"

nice legacy there, Mr. President.

[Bragi]

39. Pairs nicely with the Bush-Obama war /nt

[saigon68]

58. More Gold Star Mothers on the Way

Come on mothers throughout the land,
Pack your boys off to Vietnam.
Come on fathers, and don't hesitate
To send your sons off before it's too late.
And you can be the first ones in your block
To have your boy come home in a box.

[Jack Rabbit]

40. !!

Wikipedia (Public Domain)

[eringer]

41. This is the darkest day for the Democratic Party

First he sells out the Government workers. Now he allows the rich pigs to eat at the Government trough. Perhaps its time to be looking for someone to challenge him in the primary. May I be the first to suggest that we need to encourage Maryland Governor Martin O'Malley to take a step in that direction.

[humbled_opinion]

42. Caved but worse..

Look we all know that the CONS played hostage with this issue, but now this is Obama's legacy. He easily could have called the CONS bluff but he didn't he caved in and now this is his plan and believe me the CONS will say as much.

[Iowa]

43. Obama is a disaster.

[Guy Whitey Corngood]

44. You know, I just don't give a fuck anymore. I really don't. nt

[JackDragna]

47. A drop in the bucket compared to billions in lost revenue.

The man's showing his stripes.

[alp227]

48. I doubt he'd gain any Tea Party votes.

I mean, next thing you know, they'll attack Obama over the deficit and the consequences of extending the tax cuts. WELL???? This was just a TERRIBLE move on Obama's part.

The nonpartisan Congressional Budget Office reported in August "that permanently extending tax cuts put in place under President George W. Bush would provide a "considerable" economic boost over the next several years but would result in substantial increases in the federal deficit, placing the country in a precarious fiscal situation by 2020."

This is just so heartbreaking.

[SOS]

49. No surprises in a neoliberal oligarchy

Wall Street writes the legislation and their paid lackeys in Washington enact it.

"Politics" in this country is now nothing more than a marionette show to
amuse those unfamiliar with Milton Friedman's shock treatment.

[NeoConsSuck]

50. He showed us whose team he is playing for

Froze Federal workers pay for two years: Saved 2 billion dollars.
Extended the tax cuts to the rich: Cost 700 billion dollars.

You can twist and turn and make every excuse in the book for Obama, but numbers don't lie. He is a Republican, through and through.

[StarsInHerHair]

55. those numbers look very Reaganesque and you're correct numbers don't lie

he's done. he's not anything Left.

[Johnny Harpo]

51. What Choice Does Obama Have?...Either Way...He's In A Corner

damned if he does...damned if he doesn't.

[unkachuck]

52. "...would meet Republican demands..."

....now that we're giving away the store (like we all knew that wouldn't happen) is there anything in the bill that would give people on SS, a one-time, $250 COLA replacement check?

....Grandma and I are having a difficult time making ends meet in this period of shrinking products and deflationary high-prices....

[Name removed]

53. Deleted message

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[Imagevision]

56. At least Bush was obvious with his BS. - Obama smiles his way thru this garbage!

[Name removed]

59. Deleted message

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[No Elephants]

61. Please find a less sexist way than genitalia to refer to strength and courage or their opposites.

Spine, guts, many ways not insulting to women.

penises don't hae a monopoly on desirable qualities, nor do "pussies" have a monopoly on undesirable ones.

Thanks.

[No Elephants]

62. Even friggin' Scarborough has been opposing cuts for the rich

But, he was over a barrel.

Only Democrats in the House and Senate, a few Republican Senators and Democratic, moderate and Republican voters opposed this extension. His hands were tied.

And he's only been in office 2 damned years. Two is only the next number after 1. Not as though this could have been resolved before mid terms history tells us the Party in the WH would lose.

Leave the President alone!


Matthews: Obama should have made Republicans vote on unemployment on Christmas Eve.