Extension of Bush tax cuts could test Republicans' deficit resolve

cal04

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Sun Jun-27-10 04:16 PM
Original message

Extension of Bush tax cuts could test Republicans' deficit resolve

http://thehill.com/blogs/on-the-money/domestic-taxes/105761-bush-tax-cuts-could-test-gop-deficit-resolve

After Senate Republicans used the increasing deficit as an excuse to shoot down Democratic attempts to extend unemployment benefits, Democrats are questioning if that commitment to fiscal discipline will continue when it comes time to extend the Bush tax cuts.

�I will be curious to see if their new found fiscal religion that everything must be paid for is something they stick to as long as debt and deficits are a problem,� a leadership aide told The Hill. �Or is just an election-eve conversion and will be dropped as soon as convenient.�

Congress passed the Bush tax cuts in 2001 when Republicans controlled both chambers -- much to the chagrin of many Democrats. Those tax breaks, which benefit a large swath of the economy, are slated to expire in January.

Democrats want to extend the cuts that benefit the middle-class, as well as protect them from the alternative minimum tax.

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Richardo

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Sun Jun-27-10 04:19 PM
Response to Original message

1. "Those tax breaks, which benefit a large swath of the economy, are slated to expire in January."

Edited on Sun Jun-27-10 04:20 PM by Richardo

Less than 1% of the population is a large swath of the economy? Gee, no spin there.

Any substantiation for that claim? No I didn't think so.

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Warren Stupidity

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Sun Jun-27-10 04:27 PM
Response to Reply #1

4. The luxury swath

100K cars,
1M houses,
that swath.

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The Magistrate

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Sun Jun-27-10 04:20 PM
Response to Original message

2. They Will Claim, Ma'am, Keeping Rates Low For The Rich Will Reduce The Deficit....

Edited on Sun Jun-27-10 04:20 PM by The Magistrate

While raising rates on the rich will increase the deficit and plunge us into a depression.

They will do it with a straight face, too....

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treestar

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Sun Jun-27-10 06:51 PM
Response to Reply #2

9. That is exactly what they have always claimed

That tax revenues increased after the Reagan tax cuts.

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Warren Stupidity

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Sun Jun-27-10 04:26 PM
Response to Original message

3. They don't have 'deficit resolve' and they couldn't care less about consistency.

They will fight tooth and nail to preserve tax cuts for billionaires. Lucky for them, they will get support across the aisle.

"Those tax breaks, which benefit a large swath of the economy" - no, those tax cuts benefit the vastly wealthy and have done nothing demonstrable that benefits any 'swath' of the economy, except the 'luxury' swath.

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bluestateguy

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Sun Jun-27-10 04:46 PM
Response to Original message

5. Since they are constantly demanding that any spending (except for the military) be paid for

We should demand to know how they will pay for another decade of Bush taxcuts.

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Odin2005

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Sun Jun-27-10 05:28 PM
Response to Original message

6. HAHAHAHA!!!

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Dawson Leery

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Sun Jun-27-10 05:31 PM
Response to Original message

7. The Republicans (who are all bad these days) will

bring out their supply side voodoo yet gain.
Use the budget reconciliation process to get the middle class tax cuts in and give the top .1% a massive tax increase.

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rhett o rick

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Sun Jun-27-10 06:47 PM
Response to Original message

8. They are unabasedly greedy and dont give a shite about the deficit. nm

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unblock

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Sun Jun-27-10 07:10 PM
Response to Original message

10. they are concerned about deficits when dems are in control, and surpluses when they are in control.

the logic is pretty straightforward.

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