Obama announces compromise on extending tax cuts

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It sounds more like capitulation rather than compromise to me. I am sorely disappointed that we had to give more to the rich to help the unemployed. Let’s see how many jobs are created because of this action.
One thing I don’t understand in the current debate is that this tax cut was a way of giving back because of the Clinton surplus. When Bush was president there was a budget surplus and he wanted to give it back. . Now we are in deficit. Why are we still giving back and going into hock to do it?
 
It’s an old argument.

One side states that cutting taxes across the board creates a short term deficit but pays off in the long run. The other side argues that more government-centered investments create a short term deficit but pay off in the long run.
 
It sounds more like capitulation rather than compromise to me. I am sorely disappointed that we had to give more to the rich to help the unemployed. Let’s see how many jobs are created because of this action.
One thing I don’t understand in the current debate is that this tax cut was a way of giving back because of the Clinton surplus. When Bush was president there was a budget surplus and he wanted to give it back. . Now we are in deficit. Why are we still giving back and going into hock to do it?
I’m very happy to hear that you’re going to lead by example and forsake private ownership all in the name of being charitable. It’s good to know that some practice what they preach, Bravo!

Because if you’re just whining about the “rich” while refusing to follow your own mandate, than not only are you inconsistent, you are basically in favor taking from others through force or threat of, henceforth violating the Seventh Commandment: “Thou Shalt Not Steal”.

Sorry, but forced redistribution is immoral. You’re going to have to determine where your faith lies, in Catholicism or Socialism.
 
Less a compromise and more a royal screw job. There was a time when I thought I voted for someone who would actually get in there and scrap it out. But Obama doesn’t even fight against this nonsense, he just stands there like he’s got a glass jaw. The President bends over for the Republicans? Must be a day of the week that ends in ‘Y’. Now I realize I cast a vote for another right wing shill.
 
I’m very happy to hear that you’re going to lead by example and forsake private ownership all in the name of being charitable. It’s good to know that some practice what they preach, Bravo!

Because if you’re just whining about the “rich” while refusing to follow your own mandate, than not only are you inconsistent, you are basically in favor taking from others through force or threat of, henceforth violating the Seventh Commandment: “Thou Shalt Not Steal”.

Sorry, but forced redistribution is immoral. You’re going to have to determine where your faith lies, in Catholicism or Socialism.
I was stating my opinion without insulting those who disagree with me. Just found out about a death in my family so I won’t be arguing with a marooon.
 
Less a compromise and more a royal screw job. There was a time when I thought I voted for someone who would actually get in there and scrap it out. But Obama doesn’t even fight against this nonsense, he just stands there like he’s got a glass jaw. The President bends over for the Republicans? Must be a day of the week that ends in ‘Y’. Now I realize I cast a vote for another right wing shill.
I’m so glad that you too will enjoy donating everything you have. Why if more “liberal” Christians actually practiced what they preached in terms of charity, we might not have abyssmal poverty on the planet!
 
I was stating my opinion without insulting those who disagree with me. Just found out about a death in my family so I won’t be arguing with a marooon.
I’m sorry to hear about your relative’s passing. May the Lord God give you and your family comfort in this time of mourning.
 
It’s an old argument.

One side states that cutting taxes across the board creates a short term deficit but pays off in the long run. The other side argues that more government-centered investments create a short term deficit but pay off in the long run.
The problem is that there is no evidence that cutting taxes across the board will pay off (except for maybe in the very, very long run). Any (real, scientific) estimate of the Laffer curve in the US shows that raising taxes will lower tax revenue and hurt the deficit. Will it also hurt the economy? A bit… But current estimates show that letting all the tax cuts expire (which everyone agrees would be a terrible idea) would only raise the unemployment rate by under a half of one percent. Nothing to scoff at but not devastating. Adding four trillion dollars to the deficit over the next ten years–which is what is estimated if the tax cuts are allowed to remain in effect for that long–would be devastating
 
It sounds more like capitulation rather than compromise to me. I am sorely disappointed that we had to give more to the rich to help the unemployed. Let’s see how many jobs are created because of this action.
Do the unemployed provide jobs, or the so called “rich”? I am employed by one of those so called “rich” and thankful of that every day.
 
Do the unemployed provide jobs, or the so called “rich”? I am employed by one of those so called “rich” and thankful of that every day.
And that rich guy is rewarded by the gobs and gobs of money he makes.

If he actually is that much richer than you or I, then he can afford to pay taxes at a higher rate than you or I should be expected to pay. Don’t worry – he’ll still be fantastically richer than you or I after he’s done paying his taxes. He’ll just have to pay a little bit more on the income that his accountant hasn’t helped him hide by using the many loopholes in the tax code.
 
Well it’s our only choice, after all. Simplifying the tax code to avoid this kind of thing would just be liberal heresy.
Yep…until we simplify our tax code, I will just be thankful for our new little tax deduction. I think that puts us in negative tax bracket. 🙂

He arrived at 8:54pm. We named him after St Peter Pascual (too many Nicks out there).
 
A tentative agreement would temporarily preserve the Bush-era tax cuts for all and extend unemployment benefits for 13 months.

latimes.com/news/politics/la-pn-obama-tax-cuts-120610,0,3954124.story
I know a number of people, some of whom I am related to, who are blatant about not seriously seeking employment as long as the benefits hold out. It has become a joke. I also manage a company with 40 employees trying to stay alive.

This notion that the “rich guys” owe it to the world to pay through the nose is short-sighted. The union-political complex (which I am regrettably a part of from a previous life) doesn’t understand a simple truth. A good parasite never kills its host. When the host dies, the parasite dies. You would think the parasite would know this, but then that would require thinking. People should never be allowed to go hungry or suffer want. But this sense of what people who get gov’t checks think the world owes them is fantasy.
 
Do the unemployed provide jobs, or the so called “rich”? I am employed by one of those so called “rich” and thankful of that every day.
The “rich” can afford to do both…
 
The so called ‘rich’ also include a lot of small businesses. Basically any business that is registered as a sole proprietorship instead of as an LLC.

That includes my neighbors auto body shop. I can tell you first hand that he is not ‘rich’ by any standard.

Since it’s a sole proprietorship, all the shop’s profits are listed as direct income to him, even though a lot of that goes into the business. So his W2 states well over 250K, but I’d be surprised if his ‘take home’ was more than 50.

He employess 5-6 people, so where exactly are the ‘gobs and gobs of money’ he is supposed to be rewarded with?
 
And that rich guy is rewarded by the gobs and gobs of money he makes.

If he actually is that much richer than you or I, then he can afford to pay taxes at a higher rate than you or I should be expected to pay. Don’t worry – he’ll still be fantastically richer than you or I after he’s done paying his taxes. He’ll just have to pay a little bit more on the income that his accountant hasn’t helped him hide by using the many loopholes in the tax code.
I wasn’t a citizen who created those loopholes. It was our esteemed:D Congress. A taxpayer can take advantage that which he is given.
 
It’s an old argument.

One side states that cutting taxes across the board creates a short term deficit but pays off in the long run. The other side argues that more government-centered investments create a short term deficit but pay off in the long run.
I think I can invest my money better than the federal government can. One of our problems has to do with the size of the federal government, all funded by the taxpayers.
 
I think I can invest my money better than the federal government can. One of our problems has to do with the size of the federal government, all funded by the taxpayers.
The problem is that a lot of people claim that they want a smaller government, but only as long as their piece of the pie gets preserved. For example, there is no legitimate reason for Medicare to be provided by the government. Yet, how many of our so called conservative representatives are pressing for getting the government out of health care in this way? How many so called conservatives voters are calling their representatives and telling them to eliminate medicare? People claim they want a smaller government, but not when it comes to the government welfare programs that benefit them.
 
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