Senate OKs tax cuts, Obama urges fast House action

[PegLeg45]

Senate OKs tax cuts, Obama urges fast House action

WASHINGTON – The Senate Wednesday overwhelmingly passed a sweeping tax package that would save millions of Americans thousands of dollars in higher taxes while also reducing their Social Security taxes and extending jobless benefits.

President Barack Obama swiftly urged the House to pass the $858 billion bill without changes, a slap at Democratic liberals eager to toughen a part of the measure that permits up to $10 million to pass to heirs estate tax-free.

A wide array of tax cuts enacted under President George W. Bush is scheduled to expire on Jan. 1 — just two weeks away — affecting taxpayers at every income level. The bill passed by the Senate, 81-19, would extend those cuts for two years.

Obama urged quick action in the House.

"I know there are different aspects of this plan to which members of Congress on both sides of the aisle object. That's the nature of compromise," the president said. "But we worked to negotiate an agreement that's a win for middle-class families and a win for our economy, and we can't afford to let it fall victim to either delay or defeat."

House Democratic leaders said they expect to vote on the bill Thursday.

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http://news.yahoo.com/s/ap/us_tax_cuts

[TAB]

You know the $250k deal is a crock...


the guys that make $250k and employee several people at decent wages, should get tax breaks.  they are pumping money back into the econ.  The guy that makes 250k and only employees a couple people or pays people shit should not.  They should be bent over.

[tt11758]

You know the $250k deal is a crock...


the guys that make $250k and employee several people at decent wages, should get tax breaks.  they are pumping money back into the econ.  The guy that makes 250k and only employees a couple people or pays people shit should not.  They should be bent over.

Goes back to the age old question, why the hell is it any of the government's business what people do with the money they have EARNED?

Dude, you've been in Kalifornicated WAY too long.

[Pathfinder]

A posting of an article on Lucianne.com today likens the 111th Congress at this point to the final scenes of Animal House - wreaking all of the damage they can - because they can.

[tt11758]

A posting of an article on Lucianne.com today likens the 111th Congress at this point to the final scenes of Animal House - wreaking all of the damage they can - because they can.

The new motto of the 111th Congress:  "RAMMING SPEED!!!!!"

[Sponsor]

[tombogan03884]

Thing is, this has nothing to do with "CUTTING" taxes, it is only about not RAISING them.

[TAB]

Goes back to the age old question, why the hell is it any of the government's business what people do with the money they have EARNED?

Dude, you've been in Kalifornicated WAY too long.

SHow me a goverment, that has not cared what peole did with thier money.


lets take my 08 year, I made about 60k, had 2 employees that made 75k and 3 more that made 40k for about 330k in wages  I did a little over 800k in gross sales.  I basicly put 750k into the local econ.

should I pay more or less taxs then a office work that made 60k?

now look at it from the point of view that a goverment should have(IE they want to promote econmic well being of every one)  which should pay more tax now?

[Bidah]

Isn't this the same bill that has 1.1 TRILLION of spending on earmarks in it?

-Bidah

[twyacht]

Remember the Congress "floated" a budget because it was too close to the Nov. election. Now they are wanting to pass their budget with all the pork of a BBQ convention, and ram it. They also want it to cover fiscal 2011.

Uh,...Dems? YOU ****ING LOST. McConnel wants a continuing resolution for 45 days to keep the gov't open, and take it up with the new Congress in Feb.

The LOSERS WANT to get THEIR budget passed for ALL of 2011....

I think the Republicans with any balls, ought to close debate, don't pass ANYTHING. Take it up in January, and get it retroactive.

F THEM....

This is the "spite" legislation by RINO's and losing DEMS for what WE THE PEOPLE did by firing them. Lame ducks should be eliminated. Swearing in of new congressmen/women, within 3-5days.

Term limits, line item veto, and get the rat bastards out of there.....This is intolerable.

[PegLeg45]

Obama salutes spirit of compromise, signs tax bill

WASHINGTON – President Barack Obama signed into law a huge, holiday-season tax bill extending cuts for all Americans on Friday, saluting a new spirit of political compromise as Republicans applauded and liberals seethed. The benefits range from tax cuts for millionaires and the middle class to longer help for the jobless.

The most significant tax legislation in nearly a decade will avert big increases that would have hit millions of people starting in two weeks on New Year's Day. Declared Obama: "We are here with some good news for the American people this holiday season."

"This is progress and that's what they sent us here to achieve," Obama said as a rare bipartisan assembly of lawmakers looked on at the White House.

The package retains Bush-era tax rates for all taxpayers, including the wealthiest Americans, a provision Obama and congressional liberals opposed. It also offers 13 months of extended benefits to the unemployed and attempts to stimulate the economy with a Social Security payroll tax cut for all workers.

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http://news.yahoo.com/s/ap/20101217/ap_on_re_us/us_tax_cuts