On those tax cuts expiring

[boston bean]

All the tax cuts are suppose to expire at the end of next year. Until then and until January 20, 2013 there will be a republican majority in the house.

Here is how I see this whole thing playing out:

The republicans will be beating the democrats over the head with this all next year. Saying the Democrats are going to raise your taxes. While the Dems will be saying we are only in favor of raising them for the wealthy. Great, sounds like a winning strategy, but........

How does Obama/Pelosi/Reid expect to get a bill from the house with a republican majority for rescinding tax cuts on the wealthy only.

If Democrats don't agree to the whole kit n kaboodle of extending them for all once again, they are easily painted as tax and spenders.

You might believe that they should be rescinded for all. I'm sort of undecided about that. But what I do know, is that the Democrats will end up breaking their promise, once again, to end the cuts for the wealthy. After campaigning on doing just that. And to keep their promise that taxes won't rise for those making under 250K, they will agree to extending them for all.

This doesn't take a genius to figure this stuff out. You can bookmark for future reference.

[KharmaTrain]

1. The Battle Lines Are Drawn...

As it currently stands, the booosh cuts will expire at midnight on 12/31/2012. President Obama will still be in the White House and this is before the new Congresses are sworn in. And you could be right. Should the rushpublicans win, the pressure will be intense to not just extend the cuts but make them permanent. They'll definitely run on the fear that "Democrats will raise your taxes" by letting the cuts expire...they did it to some effect in 2010 and if it worked then they figure it'll work again.

The Democrats have a more complicated game...one Obama did play effectively in '08. It's making the cuts permanent for those earning $250 or $200 or less...thus negating the talking point about taxes going up for 95% of the country. The problem, as usual, is trying to turning something complex into one simple enough to make into a talking point or put on a bumper sticker.

This bill was written so vague that it can be used by both sides to achieve the short-term goal of not getting blamed for destroying the economy but also the long-term one of using the economy as the main battleground of next year's elections.

Cheers...

[boston bean]

3. Even if the Republicans don't win the house, they still hold the majority, until Jan 20th 2013..

I suppose if the Dems win the house back, they could expire for all for twenty days, then new legislation for the middle class tax cuts could pass.

[peace frog]

2. No need to bookmark

It was as clear as day to me that this is what we can expect. Democrats will make a great show of fuming, posturing, blustering and bluffing, but in the end we know precisely what they will do. Lots of room under the *big tent* bus, come on down!

[On the Road]

4. Since the Tax Cuts are Due to Expire

my understanding is that there is no need for any bill to pass. Politically, it's another matter.

[Marr]

5. Judging from past experience, I wouldn't be surprised if Obama

does another, "stay outside while I negotiate with these Republicans, guys", and comes out with a super duper compromise to end the tax cuts for everyone BUT the wealthy. :P

[Zebedeo]

6. Exactly

A bill to extend ALL the tax cuts for EVERYONE (or make them permanent) will easily pass the House in the Summer of 2012. It will go to the Senate. Dems can either vote for it or against it. If they vote for it, it will pass and go to Pres. Obama for his signature. If they vote against it (or keep it from coming to a vote), they will be responsible for raising taxes on EVERYONE who pays taxes. Then the election will be very tough for Dems. There won't be a bill that raises taxes only on those making above 200/250. The only bill will be the one extending the tax cuts for all. All revenue bills must originate in the House of Representatives.