Surprise move on tax cuts by Obama

It's passed in the Senate (http://www.chron.com/disp/story.mpl/ap/top/all/7340450.html).


"The bill's cost, $858 billion, would be added to the deficit."

lol @ deficit hawks...won't anyone think of the children?

How does the bill cost 858 billion when nothing is changing?

Middle class families need a boost in this economy, and that is exactly what this plan gives them," said Senate Majority Leader Harry Reid, D-Nev. "It is not perfect, but it will create 2 million jobs, cut taxes for middle class families and small businesses, and ensure that Americans who are still looking for work will continue to have the safety net they rely on to make ends meet."

I'd love for Reid to explain how passing this bill will creat 2 million jobs. Is he really saying that by extending the tax cuts it will creat jobs. I thought liberals thought that was a bunch of BS.

just another example of the Dem's caving in. this is all about the rich. doesn't change anything for me. pretty soon both parties will meet somewhere in the middle, and then we are screwed( more then we are now)

just another example of the Dem's caving in. this is all about the rich. doesn't change anything for me. pretty soon both parties will meet somewhere in the middle, and then we are screwed( more then we are now)

So let me get this straight -- the government says you get to keep more of the money you earn, and so do the rich, but that makes you unhappy?

I could certainly understand the outrage if the gov't said "we're taking more out of the paychecks of the poor and middle class, but people in the upper incomes -- their paychecks will be higher". That would be upsetting, no doubt. But everybody gets to keep more of what they earn.

Am I correct to think that the only way you'd be happy is that your paycheck stays the same but anybody with a bigger paycheck takes a hit?

Your happiness depends on someone else's unhappiness?

i try to look at the big picture. sooner or later the shit will hit the fan with the record deficit we are incurring. lets stop all the crazy spending, and start to create jobs. what ever is good for the whole is what im about

i try to look at the big picture. sooner or later the shit will hit the fan with the record deficit we are incurring. lets stop all the crazy spending, and start to create jobs. what ever is good for the whole is what im about

We don't have a tax problem we have a spending problem. I read today this new bill is filled with 8 billion in pork projects to get the dems approval.

So let me get this straight -- the government says you get to keep more of the money you earn, and so do the rich, but that makes you unhappy?

I could certainly understand the outrage if the gov't said "we're taking more out of the paychecks of the poor and middle class, but people in the upper incomes -- their paychecks will be higher". That would be upsetting, no doubt. But everybody gets to keep more of what they earn.

Am I correct to think that the only way you'd be happy is that your paycheck stays the same but anybody with a bigger paycheck takes a hit?

Your happiness depends on someone else's unhappiness?
Exactly. This notion that "rich" people owe more money than others is beyond me. I hate the idea of a progressive tax in the first place and I hate the rampant anti-rich sentiment that flows throughout this country. It is the most unAmerican notion that exists in my opinion. Everyone who is able should pay their fair share. More importantly and more germane to this discussion we shouldn't be axing taxes without a requisite cut in spending. It is as irresponsible as raising taxes. In fact I'd prefer we ran the same rates for a few years, cut spending intelligently and started running a surplus to pay down some debt.

We don't have a tax problem we have a spending problem. I read today this new bill is filled with 8 billion in pork projects to get the dems approval.
if you keep spending at this rate, and dont do anything( or cut) taxes, what happens?

if you keep spending at this rate, and dont do anything( or cut) taxes, what happens?


You don't have to cut anything since you can borrow more money! There's nothing wrong with doing what GW did. People keeping their money is always good thing.

Exactly. This notion that "rich" people owe more money than others is beyond me. I hate the idea of a progressive tax in the first place and I hate the rampant anti-rich sentiment that flows throughout this country. It is the most unAmerican notion that exists in my opinion. Everyone who is able should pay their fair share. More importantly and more germane to this discussion we shouldn't be axing taxes without a requisite cut in spending. It is as irresponsible as raising taxes. In fact I'd prefer we ran the same rates for a few years, cut spending intelligently and started running a surplus to pay down some debt.

No doubt. Milton Friedman once said that a tax cut without a corrseponding cut in spending isn't really a tax cut. The government just prints the difference, leading to inflation, which hits us in the wallet just the same.