Whovian
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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.
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.
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.
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.
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.
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.
Yes, certainly extending the Bush Tax cuts for ALL Americans is going to lead us into the firey pits of Hell.
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.
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 am sure the only one telling Axelrod anything is the President.
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
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
I thought you folks were concerned about the deficit and debt?
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.
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