- Joined
- Mar 21, 2005
- Messages
- 25,893
- Reaction score
- 12,484
- Location
- New York, NY
- Gender
- Male
- Political Leaning
- Slightly Conservative
House Majority Leader Steny Hoyer said Tuesday that tax increases will eventually be necessary to address the nation's mounting debt, raising a difficult election-year issue as Democrats fight to retain control of Congress.
In the shorter term, Hoyer raised the possibility that Congress will only temporarily extend middle-class tax cuts set to expire at the end of the year. He pointedly suggested that making them permanent would be too costly.
Tax cuts enacted under former President George W. Bush are scheduled to expire at the end of the year, affecting taxpayers at every income level. President Barack Obama proposes to permanently extend them for individuals making less than $200,000 a year and families making less than $250,000 — at a cost of about $2.5 trillion over the next decade.
U.S. House Majority Leader Steny Hoyer said permanently extending former President George W. Bush’s tax cuts for middle-class wage earners may no longer be affordable as the U.S. tries to curb its growing debt.
Bush’s 2001 and 2003 tax cuts for all income levels expire at the end of this year. For those applying to middle-class earners, lawmakers must discuss “whether we can afford to permanently extend them before we have a real plan for long-term deficit reduction,” Hoyer said today in a speech in Washington.
Moderator's Warning: |
The Associated Press: Hoyer: Permanent middle class tax cuts too costly
This is going to be a tough issue for both parties. The tax cuts should be made permanent or ignored altogether - this "temporary cut/fix" shenanigans is little more than a budgetary tool used to hide the true costs of programs and push off hard decisions to the next group of leaders.
Increasing taxes is FINE and definitely NEEDED...provided that the government curb spending and dedicate those tax increases to paying down the debt. However when you have a congress that RAISED its debt ceiling to 15.5 TRILLION and refuses to even pass an annual operating budget...really...what hope does ANYONE have of seeing deficit spending curtailed?
"Reagan proved deficits don't matter."
-Dick Cheney
And you...what do YOU think? Do you HAVE an actual original thought in your head? Do YOU actually embrace deficit spending? ****ing muppets...
What? No, not at all. That was sarcasm, see. You're a really angry person, you know. This idea that we can cut taxes and increase spending at the same time is something a five-year old can figure out as being TOTALLY ****ING STUPID.
The Associated Press: Hoyer: Permanent middle class tax cuts too costly
This is going to be a tough issue for both parties. The tax cuts should be made permanent or ignored altogether - this "temporary cut/fix" shenanigans is little more than a budgetary tool used to hide the true costs of programs and push off hard decisions to the next group of leaders.
Angry? Nah...just repulsed by mindless ideological muppets. Here we have a thread about ending middle class tax cuts...we have a CURRENT administration that never saw a dollar they didnt feel was theirs to spend and a CURRENT congress that has upped their allowable deficit debt ceiling to 15.5 trillion and has refused to so much as pass a BUDGET yet are sure to increase taxes...and your mindless response is a quote by a FORMER vice president about a president and administration from the 1980s...niiiiiice...intelligent. VERY productive.
Now MAYBE you might want to concern yourself with the people currently spending your money. Maybe.
The Associated Press: Hoyer: Permanent middle class tax cuts too costly
This is going to be a tough issue for both parties. The tax cuts should be made permanent or ignored altogether - this "temporary cut/fix" shenanigans is little more than a budgetary tool used to hide the true costs of programs and push off hard decisions to the next group of leaders.
I just think it's sad that our government is okay with taking money away from Americans, but seems to care not one bit about reducing spending. At some point the well is going to dry up, and then what?
Agreed, but why anyone thinks we can continue spending without taxing is beyond me. I'm middle class, and would completely understand a modest increase in my taxes.
What? No, not at all. That was sarcasm, see. You're a really angry person, you know. This idea that we can cut taxes and increase spending at the same time is something a five-year old can figure out as being TOTALLY ****ING STUPID.
I think there are several solid points here. We do need to decrease spending and we are going to have to increase taxes, however, I say we increase them where they can be most afforded. By corporate america. Also we stop all ongoing wars, you may call this cut and run if you like, and go back to only attacking someone if congress can get up the guts to declare war.
Corporations do not pay taxes, they pass their costs on to you, the consumer.
The Associated Press: Hoyer: Permanent middle class tax cuts too costly
This is going to be a tough issue for both parties. The tax cuts should be made permanent or ignored altogether - this "temporary cut/fix" shenanigans is little more than a budgetary tool used to hide the true costs of programs and push off hard decisions to the next group of leaders.
Incorrect. They pay taxes AND they pass the costs on to the consumer.
You need to go to a spa or something. Relax a bit. Learn to take things a little less seriously, and try not to see everything as an attack. Sometimes people post things that are just meant to be humorous or ironic.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?