Obama, some Dems at odds over extending Bush tax cuts
by George Bennett | September 8th, 2010With the Bush tax cuts set to expire Dec. 31 unless Congress acts, President Obama is sticking to his position that the tax breaks should end for the wealthiest filers, pushing them into a 39.6 percent top bracket instead of the current 35 percent top rate.
Obama’s position is shared by Democratic Senate nominee Kendrick Meek. Democratic governor candidate Alex Sink, however, said in Delray Beach Tuesday that all the tax cuts should be extended.
And U.S. Rep. Ron Klein, D-Boca Raton, facing a tough reelection challenge from Republican Allen West, came out Tuesday for a one-year extension.
Says Klein: “Every day, I hear from families that are still struggling with bills and people who can’t find a job no matter how hard they try, so I believe right now, our top economic priority has to be job creation. In order to achieve that, we need tax credits for small businesses that will help create new American jobs, while also promoting investment and growth. As we work to rebuild the economy, I support a one-year extension of the so-called Bush tax cuts.”
Tags: Bush tax cuts
September 8th, 2010 at 8:18 am
You can be pretty sure that ANYTHING Ron Klein thinks or does has been approved by Nancy Pelosi. Klein is a Pelosi/Obama robot. He’ll say or do anything to stay in office.
September 8th, 2010 at 8:41 am
Even Dems have finally realized that Obama is a lunatic who does not know anything about all economics or capitalism.
September 8th, 2010 at 8:52 am
If Republicans really want to lower the deficit, they will repeal the Bush tax cuts for wealthiest Americans, which makes up the largest portion of the national deficit. Doled out during wartime, real patriotic.
Republican fiscal responsibility? There is no such thing.
September 8th, 2010 at 9:01 am
Don’t believe for one second that any Dems saying the want to extend the Bush tax cuts means a thing.
The D.C. Dem bosses have told their candidates it’s ok to oppose the massive tax hike during campaign season, because after the election the bosses will do impose the tax hike anyway.
This standard pre-election lying.
September 8th, 2010 at 9:08 am
NOWEST
Claims that the tax cut to the wealthy is the largest part of the federal deficit. What a moron. These people pay the MAJORITY of all taxes in the US. 35 % plus social security and medicare tax equals almost 50% on the first $125,000 threshold. Is that enough tax for you? You are obviously an un employed democrat seeking more free entitlements like 99 weeks of unemployment and free health care. Go find a job you social leech.
September 8th, 2010 at 9:28 am
Ron,
I was going to post something about Gini coefficients and historical marginal tax rates, but then I realized you’re kind of an idiot, so why bother?
September 8th, 2010 at 9:31 am
The failures of this Administration are heart breaking. But all must witness the folly of socialism by any other name – if it quacks like a duck . . .
Buyer’s remorse has settled in because BHO was not honest. He denied being socialist or Marxist, cloaking his real ambition with “hope and change.” The electorate was so eager to show its diversity it fell for the charm and hyperbole. It was only after the election did Al Sharpton tell us we “voted for socialism” when we elected BHO.
Like so many times in history before, egalitarians with an eye to enforce their philosophy with the awesome power of government, have seized troubled times to usurp liberty and micromanage lives of free men.
FDR, LBJ, JC, BHO, all exploited tragedy to transform this country into a redistributionist welfare state that destroys incentive, punishes success and kills the golden goose of prosperity. Egalitarians call it “progress” and it fails everywhere attempted, leaving a trail of human suffering, tyranny and shared poverty.
The formula for prosperity is simple; reward the successful and protect private property. There will always be disparity in such a situation but a “rising tide raises all ships” (JFK)
THE SACRED DUTY – Tea Party Folk http://www.youtube.com/watch?v=BQ_KFhBUFb0
September 8th, 2010 at 9:32 am
One-year extension of tax cuts is typical of congresspersons (mostly Democrats right now) failing to come to grips with a problem and try to get by with a “compromise” that doesn’t work. Imagine a businessman knowing that NEXT YEAR HIS TAXES ARE GOING TO ZOOM. He can’t plan his future that way. That’s okay, the Tea Party is backing Klein’s opponent, and they have been racking up victories.
September 8th, 2010 at 9:39 am
At least Klein is willing to concede on something and do what he thinks is right for his district.
West on the other hand is a strict ideologue who won’t care what any of his constituents think on any issue.
September 8th, 2010 at 9:48 am
“When you have an executive branch that goes to a private sector business (BP) and takes their private equity funds and demands that they put it into an escrow account, something is upside down in this country. That is a very dangerous precedent that we establish.”
September 8th, 2010 at 9:58 am
Yeah, like a ONE year tax reprieve is going to jumpstart this economy!
It will take YEARS. As usual, Ron Klein is spouting the democrat line. All of a sudden the stimulus is NOT working, and TAX CUTS need to be kept just a year.
NOt the fellow we need in Washington. HE’s a Nancy Pelosi YES MAN.
Remember Ron Klein refused to show up at townhall meetings because he was AFRAID of the questions being asked about ObamaCare and how HE would be preceived by the people via the media.
A COWARD…we don’t need cowards in public office. That is what Ron Klein is. And Klein belittles West’s military service.
Klein is a RUNT. He is a mama’s boy.
September 8th, 2010 at 10:05 am
How many generations of families have been on the public dole. Daughter, after mother, after daughter. They are just USED to getting financial assistance from the government.
To me what was MOST shocking was the recent case of a woman who fraudently applied for housing assistance. Her apartment rented for over $1000 and her share of the cost….$12! That’s right TWELVE DOLLARS…we paid the rest. The woman was caught lying about her income and who was living in the housing with her. That was how one learned of the cost to taxpayers!
Just multiply this by thousands and that is where your money goes. Everybody needs a leg up sometimes, but not generations after generations.
REVAMP entitlement programs!
September 8th, 2010 at 10:42 am
People need to decide is the deficit something we need to worry about or not. If it is then there is no way these tax cuts should be extended. If it isn’t then we should enact some serious stimulus to get people in this country working again.
I believe that is the most important thing is to enact a serious stimulus to get people working again, and we should tax those that are making a decent check what we used to tax them.
If we are concerned about the deficit we should cut the military budget by 20% to 30%. Half of our budget, over 500 billion per year goes to the Military budget and that does not even include the funding of the Iraq and Afghanistan wars ($150 billion)
If we cut the military budget by 30% then we can talk some serious tax cuts for all.
September 8th, 2010 at 11:04 am
The reason our nation has a huge deficit is simple: The Bush tax cuts and the war in Iraq. Bush borrowed money from China and from our kids so he could buy off voters with a tax cut. Now Republicans want to continue the tax cuts to the wealthiest 5%, people who haven’t even been hurt by the recession, while crying poor and obstructing Obama’s efforts to help those who are struggling. They want to cut Social Security benefits to plug the deficit hole Bush created. Anyone who votes Republican deserves exactly what they’re going to get; more economic disaster for all but the very rich.
September 8th, 2010 at 5:10 pm
What we need to do is exempt all Professional Intellectual Warriors from paying taxes. The Warrior Class is what drives this constitutional republic’s greatness. Without warriors like LTC West, this country would fall to the evils or Liberalism, Socialism, and Islam.
Don’t worry LTC West, I have already taken up my bayonet and will defend to my death your right not to pay your taxes.
With extreme devotion,
Challah
September 9th, 2010 at 9:02 am
Deficit In Perspective
http://intoxination.net/jamie/deficit-perspective
Maybe if I show you a chart that will help some of you Norons, I meant morons.
September 13th, 2010 at 12:12 pm
Ron, buy a clue. The wealthy aren’t taxed at the 35% on the first $250,000 of their income, only the portion OVER $250,000. Additionally, Social Security and Medicare taxes are topped out at $106,000, so they actually pay NO Social Security or Medicare taxes on ANY of their income over $250,000. Here’s a compromise for you conservatives. We’ll leave the Bush tax rate intact for those making over $250,000, if you’ll agree to remove the cap for taxes on Social Security and Medicare.