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Title: Obama, GOP reach deal to extend tax cuts
Source: Associated Press
URL Source: http://news.yahoo.com/s/ap/20101207/ap_on_bi_ge/us_tax_cuts
Published: Dec 6, 2010
Author: JIM KUHNHENN and DAVID ESPO
Post Date: 2010-12-06 20:30:13 by Flintlock
Keywords: None
Views: 310
Comments: 27

WASHINGTON – Brushing past Democratic opposition, President Barack Obama announced agreement with Republicans Monday night on a plan to extend expiring income tax cuts for all Americans, renew jobless benefits for the long-term unemployed and grant a one-year reduction in Social Security taxes.

The emerging agreement also includes tax breaks for businesses that the president said would contribute to the economy's recovery from the worst recession in eight decades.

Obama's announcement marked a dramatic reversal of his long-held insistence, originally laid out in his 2008 campaign, that tax cuts should only be extended at incomes up to $200,000 for individuals and $250,000 for couples. He explained his about-face by saying that he still opposed the move and noted the agreement called for a temporary, two-year extension of cuts at all income levels, not the permanent renewal that Republicans have long sought.

Poster Comment:

One small victory...savor it

Thank You Republicans, thank you!

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Begin Trace Mode for Comment # 23.

#3. To: Flintlock (#0)

This is just further evidence that Democrats and Republicans are exactly the same - other than the public images they nurture.

For rich people there is a special low tax rate of 15.0% on all investment income. That applies to all investments including investments in china, thailand, vietnam, etc. Nobody invests in America because the US dollar is over-valued, it is not economical to produce here as long as we're in that condition. So in effect with this special low 15% tax rate the American taxpayers subsidize investments in foreign countries - which is where the action is for investors. Not only that, a lot of the companies on wall street make most of their money in foreign countries. Invest in America and in reality you're investing in foreigners' jobs, not ours'. No matter, investment income is special and taxed at a very low rate.

Meanwhile the poorest people in America work for paychecks or else don't work at all. And these people are taxed on all income with no refunds at 15.8% of their income. The taxes on the richest are lower as a percentage of their income than the taxes on the poorest.

President Obama is so pitiful that he could not come before the American population and speak these things and the obvious outrage that it deserves. In fact, the entire mass media hides from the Americans the simple truths that the taxes on the rich are lower than the taxes on the poor.

Republicans, Democrats, mass media, all in it together as a team. And American taxpayers expected to pay the extra $200 billion or so per year that this ridiculous low 15% tax on rich people's incomes is just normal. Our leaders are systematically opposed to our interests.

Some clowns will say that the 2003 tax cuts caused jobs to be created. These people are idiots. They only cause impossible debts. No surprise. Impossible debts mean borrowing from the federal reserve which means profits by the federal reserve.

The Republicans and Democrats are both against us and on the same team. Everyone who supports them is also in turn anti-american.

There are some who believe that the tax cuts will somehow save mankind. These people are practicing idolatry. They have raised up an idea and decided to worship it out of their own personal foolishness. For government to surrender over $200 billion every year to rich people at a time when 45% of all government spending is financed by new debt is a fundamentally stupid thing to do.

Red Jones  posted on  2010-12-06   20:59:11 ET  Reply   Untrace   Trace   Private Reply  

For government to surrender over $200 billion every year to rich people at a time when 45% of all government spending is financed by new debt is a fundamentally stupid thing to do.

Most of the $200-billion the rich save in taxes will go into shares of companies which explore for minerals, research and develop innovative products like electric cars, batteries to power them and many other ventures, all of which, hold the prospect of wealth creation and provide pay for "middle class" jobs, not only for those directly involved but for equipment manufacturers and other suppliers. $200-billion going to the government in taxes just feeds a mostly useless bureaucracy, currently well illustrated by the antics of the 150-thousand member TSA, all of whom produce no wealth at all, just stymie others from doing so.

To avoid debt by ever-increasing government spending requires a substantial reduction of bureaucracies, particularly those that duplicate services of other levels of government, and privatization like turning over tax collection to the banks.

Tatarewicz  posted on  2010-12-06   22:14:11 ET  Reply   Untrace   Trace   Private Reply  

provide pay for "middle class" jobs, not only for those directly involved but for equipment manufacturers and other suppliers.

requires a substantial reduction of bureaucracies

turning over tax collection to the banks

Yes, the middle class jobs in INDIA and in CHINA and in MEXICO. Equipment manufacturers in the USA.....lol.

Yes, but this will put another 20% of the currently employed into the unemployment lines.

WTF? You want Goldman Sachs and JP Morgan in charge of tax collection? As if they don't already OWN enough of this nation and haven't already screwed it up royally......you now want them in the tax collection business. Yikes!!

abraxas  posted on  2010-12-06   23:56:59 ET  Reply   Untrace   Trace   Private Reply  

(Reducing government bureaucracies) will put another 20% of the currently employed into the unemployment lines.

Not if they're redeployed building high-speed rail lines and trains, desalination plants to re-water the southwest, weather modification experiments, pipelining water from Canada to Arizona. rebuilding roadway infrastructure, all wealth-based assets, instead of just consuming wealth and inhibiting its production.

Tatarewicz  posted on  2010-12-07   6:58:14 ET  Reply   Untrace   Trace   Private Reply  

Not if they're redeployed building high-speed rail lines and trains, desalination plants to re-water the southwest, weather modification experiments, pipelining water from Canada to Arizona. rebuilding roadway infrastructure, all wealth-based assets, instead of just consuming wealth and inhibiting its production.

LOL!! Now you want a bunch of bloviated overpaid UNSKILLED bureaucrats to do HIGHLY SKILLED labor. Sheesh, this would further inhibit production. You don't see the logical disconnect here? Here's what we would have in the end: a no-speed rail line to nowhere, desalination plants that don't work and never will work in the southwest, the idiocy of bureaucrats in charge of weather modification (LOL! Isn't bad enough that they already think they are God despite EPIC FAILURE?), roadways that aren't fit to travel on.......and where are you going to steal Canadian water from exactly? Oh, I'm sure the unskilled bureaucrats will tackle that post haste.

So, where exactly in leftie utopia are you located?

abraxas  posted on  2010-12-07   10:39:50 ET  Reply   Untrace   Trace   Private Reply  

you want a bunch of bloviated overpaid UNSKILLED bureaucrats to do HIGHLY SKILLED labor.

Physically-able bureaucrats like anyone else can be trained to do other things as was proven in WWII when lots of civil servants were trained to operate tanks and so on. Private contractors would make sure workers are doing a proper job just as is the case in multi-story buildings which rarely if ever collapse. It would be foolish to have the "government" alone undertake any of the projects I've mentioned.

Water resources need to be managed on a continental basis rather than along political boundaries, especially in Canada's case where the population depends on fresh produce from California, even in summer. Canada's water reserves can be increased by development of storage reservoirs which when combined with hydro electric plants would provide green energy. Best deal would be for Canada or at least the West to supply water to the US southwest in exchange for some desert territory which Canadians could develop as an assured food supply (and live in during winter months, using the high speed, 500 km/hr trains China is developing).

Tatarewicz  posted on  2010-12-08   0:48:04 ET  Reply   Untrace   Trace   Private Reply  

Water resources need to be managed on a continental basis rather than along political boundaries, especially in Canada's case where the population depends on fresh produce from California

you came from Russia and you sound like a communist to us.

Canada has plenty of water. and they have every opportunity to grow food in their own country too. If they want to buy food from us, then they can. You don't respect national sovereignty. You want government to dictate to everybody. you want to give away our territory.

you're a communist. You're not from here you've said. where are you from?

We really don't like communists.

We common americans never did anything to harm Russians. Why are you hostile to us?

Red Jones  posted on  2010-12-08   1:09:02 ET  Reply   Untrace   Trace   Private Reply  

here's another article on it (the tax deal)

They act like Obama is protecting the republican policy of the tax cuts for rich people in order to protect unemployment insurance and such. But the democrats have 60% in both senate & house or almost 60%. they are the majority. They don't have to accept no 15% tax on rich people. They don't have to cut unemployment insurance. They have a large majority and they are saying that they can't act as a majority. the minority made them do it.

Its just like when 90% of democrats vote to fund the wars and issue a statement saying that the republicans made them do it. which actually did happen.

Both parties are identical over time when you watch what they actually do. and they justify it by blaming each other.

Red Jones  posted on  2010-12-08   1:29:50 ET  Reply   Untrace   Trace   Private Reply  

#24. To: All (#23)

note that in the article I linked to in #23 there is no mention of the special low 15% rate for investment income. that is the flagrant part of the 2003 tax cut. and that is almost completely ignored in our mass media.

there is no way that americans would approve of rich people being taxed at 15% and poor people being taxed at 15.8%. yet nobody in the media even bothers to point this out to the Americans - very few at least. a tv watcher would simply never know. and few who read the newspapers even will figure it out.

Red Jones  posted on  2010-12-08 01:32:58 ET  Reply   Untrace   Trace   Private Reply  

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