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White House Concedes on Upper Income Tax Cuts

Whovian

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Score one for the GOP!

White House Concedes on Upper Income Tax Cuts - FoxNews.com

Axelrod, who confirmed to Fox News comments he made to The Huffington Post, suggested that the administration is ready to accept an across-the-board continuation of current tax rates, marking a turnaround from the White House's pre-midterm election stance on impending tax increases.
 

Councilman

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h1n1-lineup.jpg

If we keep the pressure on we might avoid lines for toilet paper.

This is a good start and it shows that if we keep the pressure on and not give an inch ever on any issue we can keep reducing until dead all of the Socialist/Marxists are forced to back off.

What Obama and the other RADICALS didn't realize is that as much as the Liberals want to be good little Anti-Americans at least for now they they want to stay on the public dole because being in Congress or the Senate because it keeps them from falling back into the Middle Class because they know that inevitably they pay the ultimate price under Socialism/Marxism by either ending up dead or falling the rest of the way in to the proletariat and abject poverty.

Those in control remain at the top in their standard of living under the isms.
 

Erod

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The White House had better concede with its idea to end mortgage interest deductions, too, or we're going to have massive foreclosures in the near future.
 

haymarket

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This is very sad that the WH has conceded this important point. Very very sad for the nation.

Yesterday I was reading the last few chapters in the excellent book THE FOURTH TURNING and it obvious we are in the middle of a serious crisis that will either doom this nation or force it to a better day. Developments like this one makes me think the momentum is swinging towards disaster. Maybe we have to hit rock bottom before we will face reality?
 

Whovian

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This is very sad that the WH has conceded this important point. Very very sad for the nation.

Yesterday I was reading the last few chapters in the excellent book THE FOURTH TURNING and it obvious we are in the middle of a serious crisis that will either doom this nation or force it to a better day. Developments like this one makes me think the momentum is swinging towards disaster. Maybe we have to hit rock bottom before we will face reality?

Yes, certainly extending the Bush Tax cuts for ALL Americans is going to lead us into the firey pits of Hell. :rolleyes:
 

ARealConservative

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The White House had better concede with its idea to end mortgage interest deductions, too, or we're going to have massive foreclosures in the near future.

if interest deductions are the only thing keeping them solvent, we mioght as well clean the books of those super high risks anyway.
 

The Prof

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that's nuts, the home interest mortgage deduction can be worth more than $500 per month

it is housing that brought us here and we can never recover until the market finds its bottom and begins to turn

eliminating the deduction will explode foreclosures (there are already millions more on the horizon) and depress the already miserable market immeasurably

meanwhile, concerning the bush tax cuts---the white house ONLY TODAY surrenders

LOL!

ie, what has it been waiting for?

the electoral ass kicking?

this duck is wholly lame

leadership NEVER had a plan, provided NO direction on this question so central between every american and INTERNAL REVENUE

they're TRANSPARENTLY making up their minds ON THE FLY

NO VISION

all the party in power has accomplished from its pusillanimous punt two months before TAXES INCREASE MASSIVELY on ALL americans is to MAGNIFY resentment and UNCERTAINTY

you're STILL not embarrassed by incontrovertible and ubiquitous INCOMPETENCE?

all but the fringe recognize

meanwhile, those who SURRENDER can't even do that right

NationalJournal.com - Axelrod Denies Obama Would Concede Tax Cuts - Thursday, November 11, 2010

Democrats angry over Obama tax deal talk - Carrie Budoff Brown - POLITICO.com

i surrender...

i surrender not

we tax the rich...

we tax the rich not

pathetic, progressives
 

tacomancer

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The OP got it wrong. The concession is temporary, which is quote acceptable in exchange for a permanent extension for regular people. Especially since it will give republicans no bargaining chips in a couple of years.

Obama Open to Tax-Cut Extension for Wealthy - WSJ.com
WASHINGTON—President Barack Obama is open to accepting a temporary extension of Bush-era tax cuts for the wealthy to ensure the middle-class tax breaks are preserved, White House Deputy Press Secretary Bill Burton said Thursday.
 

Psychoclown

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This move has been expected by the pundits since the election. No surprise here. The only question is how temporary will the extension be and will the top earners cut be the only one extended on a temporary basis? I've read some pundits expecting the Republicans to try and keep all the cuts on the same time table, so that they are not in a position down the road to be fighting only for tax cuts for the rich.
 

The Prof

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There may still be a debate, if Obama pushes for a permanent, rather than just a temporary, extension of the middle-class tax cuts — a fight that congressional Democrats still hopes (sic) he wages. Obama does not support a permanent extension of the tax cuts for the wealthy.

But Obama hasn't made clear whether a permanent extension of the middle-class cuts will be his starting offer to Republicans. The White House did not respond to requests Thursday for clarification.

Democrats angry over Obama tax deal talk - Carrie Budoff Brown - POLITICO.com

now here's some leadership that LIMPS

NO VISION
 

The Prof

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I've read some pundits expecting the Republicans to try and keep all the cuts on the same time table, so that they are not in a position down the road to be fighting only for tax cuts for the rich.

you got it, that's exactly what's going on

and the excited, enthused and united gop will NOT allow a CRACK to separate the two classes of taxed americans

which is why axelrod is so equivocal about this question of overwhelming importance to working, earning americans

if obama does not cede cuts to ALL he will get SQUAT

ie, taxes will go up on MIDDLE EARNERS by thousands of dollars per year, beginning in about 50 days

it's your move, president putz, speakeress pelosi

tick tock...
 

haymarket

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Yes, certainly extending the Bush Tax cuts for ALL Americans is going to lead us into the firey pits of Hell. :rolleyes:

I thought you folks were concerned about the deficit and debt?

Former Ronald Reagan (remember him) money man David Stockman talked about this on Sunday and nobody else has said it better.

Mr. STOCKMAN: Utterly disingenuous. I find it unconscionable that the Republican leadership, faced with a 1.5 trillion deficit, could possibly believe that good public policy is to maintain tax cuts for the top 2 percent of the population who, after all, have benefited enormously from this phony boom we've had over the last 10 years as a result of the casino on Wall Street.
 
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Barbbtx

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I thought you folks were concerned about the deficit and debt?

Former Ronald Reagan (remember him) money man David Stockman talked about this on Sunday and nobody else has said it better.

I'm for cutting spending and allowing people to keep more of their own money. This is no time to raise taxes. We need jobs and more people to pay income taxes. Not a few people to pay more.
 

haymarket

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A budget has two sides. Mr. Stockman knows that better than most....... wide eyed radical liberal that he is.
 

The Prof

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tell it to axelrod
 

haymarket

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I am sure the only one telling Axelrod anything is the President.
 

Taboon

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that's nuts, the home interest mortgage deduction can be worth more than $500 per month

it is housing that brought us here and we can never recover until the market finds its bottom and begins to turn

eliminating the deduction will explode foreclosures (there are already millions more on the horizon) and depress the already miserable market immeasurably

meanwhile, concerning the bush tax cuts---the white house ONLY TODAY surrenders

LOL!

ie, what has it been waiting for?

the electoral ass kicking?

this duck is wholly lame

leadership NEVER had a plan, provided NO direction on this question so central between every american and INTERNAL REVENUE

they're TRANSPARENTLY making up their minds ON THE FLY

NO VISION

all the party in power has accomplished from its pusillanimous punt two months before TAXES INCREASE MASSIVELY on ALL americans is to MAGNIFY resentment and UNCERTAINTY

you're STILL not embarrassed by incontrovertible and ubiquitous INCOMPETENCE?

all but the fringe recognize

meanwhile, those who SURRENDER can't even do that right

NationalJournal.com - Axelrod Denies Obama Would Concede Tax Cuts - Thursday, November 11, 2010

Democrats angry over Obama tax deal talk - Carrie Budoff Brown - POLITICO.com

i surrender...

i surrender not

we tax the rich...

we tax the rich not

pathetic, progressives

The mortgage deduction is not being axed by the fiscal commission in any scenario. However, it does limit the deduction in all three tax reform options. Just thought I'd put the facts out there.

Option 2: Wyden-Gregg Style Reform

Individual Tax Reform

Repeal AMT, PEP, and Pease

Establish 3 rates –15%, 25% and 35%

Triple standard deduction to $30,000 ($15,000 for individuals)

Repeal state & local tax deduction, cafeteria plans, and miscellaneous itemized deductions

Limit mortgage deduction to exclude 2ndresidences, home equity loans, and mortgages over $500,000
Limit charitable deduction with floor at 2% of AGI

Cap income tax exclusion for employer-provided healthcare at the amount of the actuarial value of FEHBP standard option

Modify and repeal several other tax expenditures

Dedicate portion of savings to deficit reduction
 

Erod

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I thought you folks were concerned about the deficit and debt?


Do you honestly believe any additional taxes collected will be applied to the deficit? C'mon.
 

The Prof

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Equally controversial, it would eliminate the current tax deduction that homeowners receive for the interest they pay on their mortgages and impose a 15 cent-a-gallon tax on gasoline.

The co-chairmen proposed a $3.8 trillion deficit-cutting plan yesterday that would trim Social Security and Medicare, reduce income-tax rates and eliminate tax breaks including the mortgage-interest deduction.

To meet that goal, Bowles and Simpson are proposing to slay a herd of sacred cows, including the tax deduction for mortgage interest claimed by many homeowners, the tax-free treatment of employer-provided health insurance and the practice of letting retirees claim Social Security benefits starting at age 62.

Commission leaders say cutting deficit will hurt - Politics - msnbc.com

Deficit Plan Matches $3.8 Trillion Math With Tough Politics - Bloomberg

Deficit panel leaders propose curbs on Social Security, major cuts in spending, tax breaks

according to msnbc this morning, bowles-simpson also end the deduction for state and local taxes
 

soccerboy22

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Honestly reading some of the posts, I am surprised people seem to be that surprised by this. Especially after the election.
 
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