My proposal on the Bush-era tax cuts . . .

[shira]

Obama should schedule face-time on national TV. On the air, he holds up TWO documents:

"My fellow Americans, in my left hand, I have the '98% Tax Act of 2010'. This act keeps income tax rates for those making less than $250,000 taxable income at the rates enacted by the Bush administration, from now into the future. Both Democrats and Republicans tell us they want this bill passed. I'm submitting it to Congress, and will sign it the day it's passed by Congress.

"In my right hand, I have the '2% Tax Act of 2010'. This act keeps income tax rates for those making MORE than $250,000 taxable income at the rates enacted by the Bush administration, from now into the future. The Republicans tell us they want this bill passed. I'm submitting it to Congress, and will sign it the day it's passed by Congress.

"Two SEPARATE bills. To be separately debated and separately voted on by Congress. The Democrats will not hold either bill hostage to the other. I cannot, however, speak for the Republicans."

 

[spidey07]

We The People say "sign both of them", you don't have to pick and choose.

 

[Schadenfroh]

Do not sign either, let all the tax cuts expire and let us start paying down this deficit that these tax breaks (without spending cuts) helped create.

 

[shira]

We The People say "sign both of them", you don't have to pick and choose.

Then let BOTH bills be submitted to Congress. Let each be debated on its own, separate merits. Let each be separately voted on. Let the American people be informed of the implications of each, and ask the American people which bill or bills they want passed.

 

[Mursilis]

Do not sign either, let all the tax cuts expire and let us start paying down this deficit that these tax breaks (without spending cuts) created.

These tax cuts contributed to, but did not create, this deficit.

 

[spidey07]

Then let BOTH bills be submitted to Congress. Let each be debated on its own, separate merits. Let each be separately voted on. Let the American people be informed of the implications of each, and ask the American people which bill or bills they want passed.

Neither bill would pass the senate. So one side is going to have to give and given the republicans have one of the strongest election wins in history they have the power even in a lame duck session. They have the will of The People, they are the ones listening. Mitch McConnel said it best today about how dems have constantly gone against the will of the people, ignored them, ignored the election and still focus on things that aren't the concern of most of tax paying Americans.

 

[JS80]

I hope the tax cuts expire so that revenues plummet further and government has less money.

Then hopefully as a result there will be a new tax cut bill that cuts tax rates even more than the Bush one.

 

[Mursilis]

Let the American people be informed of the implications of each, and ask the American people which bill or bills they want passed.

"But Dancing with the Stairs is on, and one of the Kardashians just left some night club and the pictures of her new hottie are on TMZ!! I can't be expected to pay attention to what my gov't's doing!!"

"Let the American people be informed". Yeah, fat chance of that!

 

[Schadenfroh]

These tax cuts contributed to, but did not create, this deficit.

Agreed, wording revised.

 

[her209]

Neither bill would pass the senate. So one side is going to have to give and given the republicans have one of the strongest election wins in history they have the power even in a lame duck session. They have the will of The People, they are the ones listening. Mitch McConnel said it best today about how dems have constantly gone against the will of the people, ignored them, ignored the election and still focus on things that aren't the concern of most of tax paying Americans.

The will of the people says don't extend the tax cuts for the top 2%.

 

[GuitarDaddy]

I hope the tax cuts expire so that revenues plummet further and government has less money.

Then hopefully as a result there will be a new tax cut bill that cuts tax rates even more than the Bush one.

Are you in reverse bizzaro world or something? How the hell will increasing the tax rates across the board cause revenues to plummet?

 

[spidey07]

Are you in reverse bizzaro world or something? How the hell will increasing the tax rates across the board cause revenues to plummet?

Economy would get much, much worse, with double the unemployment. No working = no income taxes.

 

[JS80]

Are you in reverse bizzaro world or something? How the hell will increasing the tax rates across the board cause revenues to plummet?

Stick to guitar playing. Economics isn't your strong suit.

 

[IBMer]

Neither bill would pass the senate. So one side is going to have to give and given the republicans have one of the strongest election wins in history they have the power even in a lame duck session. They have the will of The People, they are the ones listening. Mitch McConnel said it best today about how dems have constantly gone against the will of the people, ignored them, ignored the election and still focus on things that aren't the concern of most of tax paying Americans.

The will of "The People" only got them a little more than 50 percent of the house. Keep spouting out "The People" when your excluding the other 45+ percent.

 

[IBMer]

Economy would get much, much worse, with double the unemployment. No working = no income taxes.

I thought those people pay zero taxes anyways... do you think the rich will suddenly be unemployed? Don't they pay all the taxes Mr. Spidey?

 

[ericlp]

"But Dancing with the Stairs is on, and one of the Kardashians just left some night club and the pictures of her new hottie are on TMZ!! I can't be expected to pay attention to what my gov't's doing!!"

"Let the American people be informed". Yeah, fat chance of that!

Besides that it's beer night at jim bobs house... Americans only want to know when the next welfare, unemployment check is com'en in the mail. They could give a crap less what the ultra rich want. As long as they get some the crumbs they are happy it seems.

As long as they got in whoever they heard most scream and cry on TV what do they care. Face it. over 60-75% of all americans have no clue what's going on.

Obscurity will always win over the obvious. You can't reason with these people. But the sad part, the ones that do have a clue and go right along with the program are just plain nuts.

 

[dali71]

The will of the people says extend the tax cuts for everyone.

ftfy

http://thehill.com/blogs/on-the-money/domestic-taxes/128945-poll-shows-majority-want-tax-cuts-for-everyone

A majority says tax cuts should be extended for everyone, which is in line with what Republicans have argued for the past several months, according to a recent poll.

About 53 percent said the Bush-era tax cuts set to expire at the end of the year should be extended for all workers, including higher earners, according to an Associated Press/GfK Poll conducted after last week's elections.

 

[GuitarDaddy]

Stick to guitar playing. Economics isn't your strong suit.

Says the man who doesn't seem to know the difference between + and -

 

[werepossum]

Obama should schedule face-time on national TV. On the air, he holds up TWO documents:

"My fellow Americans, in my left hand, I have the '98% Tax Act of 2010'. This act keeps income tax rates for those making less than $250,000 taxable income at the rates enacted by the Bush administration, from now into the future. Both Democrats and Republicans tell us they want this bill passed. I'm submitting it to Congress, and will sign it the day it's passed by Congress.

"In my right hand, I have the '2% Tax Act of 2010'. This act keeps income tax rates for those making MORE than $250,000 taxable income at the rates enacted by the Bush administration, from now into the future. The Republicans tell us they want this bill passed. I'm submitting it to Congress, and will sign it the day it's passed by Congress.

"Two SEPARATE bills. To be separately debated and separately voted on by Congress. The Democrats will not hold either bill hostage to the other. I cannot, however, speak for the Republicans."

That's certainly good politics, and arguably good policy. I'd support it.

 

[Scotteq]

Obama should schedule face-time on national TV. On the air, he holds up TWO documents:

"My fellow Americans, in my left hand, I have the '98% Tax Act of 2010'. This act keeps income tax rates for those making less than $250,000 taxable income at the rates enacted by the Bush administration, from now into the future. Both Democrats and Republicans tell us they want this bill passed. I'm submitting it to Congress, and will sign it the day it's passed by Congress.

"In my right hand, I have the '2% Tax Act of 2010'. This act keeps income tax rates for those making MORE than $250,000 taxable income at the rates enacted by the Bush administration, from now into the future. The Republicans tell us they want this bill passed. I'm submitting it to Congress, and will sign it the day it's passed by Congress.

"Two SEPARATE bills. To be separately debated and separately voted on by Congress. The Democrats will not hold either bill hostage to the other. I cannot, however, speak for the Republicans."

Not to mention GREAT political theatre.

 

[boomerang]

Do not sign either, let all the tax cuts expire and let us start paying down this deficit that these tax breaks (without spending cuts) helped create.

Do you think there is a way to actually force them to put that money towards that purpose? I ask because I think they'll just spend it on more stupid shit.

Stuff like teaching some more Africans to wash their dicks. http://www.cnsnews.com/news/article/75198

 

[Craig234]

Obama should schedule face-time on national TV. On the air, he holds up TWO documents:

"My fellow Americans, in my left hand, I have the '98% Tax Act of 2010'. This act keeps income tax rates for those making less than $250,000 taxable income at the rates enacted by the Bush administration, from now into the future. Both Democrats and Republicans tell us they want this bill passed. I'm submitting it to Congress, and will sign it the day it's passed by Congress.

"In my right hand, I have the '2% Tax Act of 2010'. This act keeps income tax rates for those making MORE than $250,000 taxable income at the rates enacted by the Bush administration, from now into the future. The Republicans tell us they want this bill passed. I'm submitting it to Congress, and will sign it the day it's passed by Congress.

"Two SEPARATE bills. To be separately debated and separately voted on by Congress. The Democrats will not hold either bill hostage to the other. I cannot, however, speak for the Republicans."

The thing I disagree with is Obama saying he'd sign the top 2% bill, giving up his power of the veto. No need for that.

Instead, have him say he'll veto any bill with the top 2% included, and that it's up to Congress to pass tax cuts for the rest.

 

[cganesh75]

Economy would get much, much worse, with double the unemployment. No working = no income taxes.

3-5% tax increase to the super rich will double the unemployment? so if we give 3% more tax credit to the rich we get the unemployment cut in half in no time?

 

[ayabe]

3-5% tax increase to the super rich will double the unemployment? so if we give 3% more tax credit to the rich we get the unemployment cut in half in no time?

Yes but if we give them another 3% they will still be anxious that some day taxes will go back up and therefore they will sit on their money and not spend.

Obama needs to end uncertainty and just make it 0%, otherwise he's crippling the economy.

Stop the class warfare!

 

[Lemon law]

I was about to say the same thing but Craig234 beat me to it.

But its also possible to have two separate bills, a temporary but not permanent tax cut that extends tax cuts for those making under 250/k a year, and a bill to extend tax cuts for those making over 250K/yr, then Obama can sign the former and veto the latter even assuming the latter makes it through the Senate.

Or Obama can simply say no Bush era tax cut bill will get my signature with tax cuts extensions for those making over 250 K/yr is included. And if the GOP still feel froggie and insist on tax cuts that will extend to those making over 250k/yr, then the net effect is all the tax cuts for everyone will sunset on 12/31/2010. And then the panic job one of the next congress will be to pass extending the Bush era tax cuts for everyone except those making over 250K/yr. Before 1/15/2011 when 98% of the people start filing their taxes. And about 100% of them will blame the GOP for being such pig heads
if they have to pay the higher rates.