Hoyer ‘not pleased’ with addition of tax provision

[babylonsister]

Hoyer ‘not pleased’ with addition of tax provision
By Klaus Marre
Posted: 10/01/08 11:04 AM


House Majority Leader Steny Hoyer (D-Md.) on Wednesday said he is “not pleased” with the Senate’s decision to add tax provisions to a Wall Street rescue package, noting that the move may cost Democratic votes.

Hoyer, who appeared on NBC’s “Today Show” with House Minority Whip Roy Blunt (R-Mo.), said he would have to discuss the Senate’s new bill with House Democrats.

“I’m not particularly pleased with that addition myself, very frankly,” he said. “There’s no doubt the tax package is very controversial. The Senate, in my opinion, is adding that on because they think that’s the only way they can get it passed.”

Conservative Democrats in the Blue Dog Coalition have voted against Alternative Minimum Tax (AMT) bills that have not been offset. Hoyer was among 30 Democrats who voted against an unpaid-for AMT bill last week.

The Senate's move to put the AMT provisions in the financial rescue bill is expected to pick up some Republican votes. It is unclear if the House will take up the Senate bill.

more...

http://thehill.com/leading-the-news/hoyer-not-pleased-with-addition-of-tax-provision-2008-10-01.html

[JDPriestly]

1. Wait a miinute. We have a credit crisis because, at all levels,

from the government on down through big business to the most humble homeowners and consumers, we owe too much money. And now, we are giving a tax cut? No, no, and no again. What we need to do is to increase taxes on the rich and stop the borrowing. Everybody from the government on down needs to understand that its the addiction to borrowing that is at the root of this particular crisis. Tax cuts are not going to help anybody in the long run.

[Virginia Dare]

2. More trickle down bullshit that got us into this mess....n/t

[Schema Thing]

3. Er, what happened to a "clean" bill?

[mrJJ]

4. Tax cuts on top of $700 Billion?

See how the unregulated subprime scheme worked... powerpoint required

Subprime for dummies MS powerpoint req
http://marktomarket.typepad.com/marktomarket/files/financial_crisis_for_dummies.pps

Mark to market for dummies
http://www.bellaonline.com/articles/art52952.asp