The Bush Tax Cuts

[Esper]

We can keep buninesses accountable or keep them hiring in this country.

I don't think it is or has to be an either/or situation without a middle ground or a third option. As customers we have the power to choose which companies we support by deciding where we spend our money. If we patronized local businesses, if we insisted that they employ local people and pay them well then they would have to do it or else they wouldn't get any of our money. The only reason this doesn't happen is because we often don't care where or how our products are made and only look at the price tag. If we were more discerning then eventually we could force a change and eventually end up paying the same amount we do now. The only difference would be that more money would be going to people from our own country.

 

[FreakyLocz14]

I don't think it is or has to be an either/or situation without a middle ground or a third option. As customers we have the power to choose which companies we support by deciding where we spend our money. If we patronized local businesses, if we insisted that they employ local people and pay them well then they would have to do it or else they wouldn't get any of our money. The only reason this doesn't happen is because we often don't care where or how our products are made and only look at the price tag. If we were more discerning then eventually we could force a change and eventually end up paying the same amount we do now. The only difference would be that more money would be going to people from our own country.

I agree, but all these ifs aren't reality. Consumers are just as greedy as the companies are. Most consumers only care about finding the best product for the lowest price. Again, this goes back to human nature.

 

[Melody]

I agree with Morkula on this one. It's been largely the Republican's blunder which landed the US Economy in this fine pickle. Worse is that the housing bubble grew right under their damn noses. Any sane and honest Republican who wasn't getting paid off to keep quiet would have wildly supported legislation capable of popping the bubble before it got big enough to deal enough damage that we had to bail banks out to save the economy. :<

I'm sure there were a few honest Reps, but not enough. As a consequence, they got saddled with a Democratic President. Barack Obama is a warning shot across the bow of the Republican Party's ship. The People want the problems solved and they wanted them solved YESTERDAY! Anyone who ultimately proves to be obstructive or apathetic will be voted off. We fired the same warning shot across the bow of the Obama Administration too. We aren't happy with the progress being made.

Right now the Reps in office are just covering their asses and hoping we don't set them on fire. The Democrats are sitting around trying to work out a patch and fix for everything, but the Reps are using the uninformed people they convinced that they're "the right choice" to stay in office. Democrats just don't waste time pandering to the crowd, we're too damn busy saving the Country's ass. :<\

I say we greatly hike the taxes on the rich, and drop taxes even further for the poor. A sort of 'Robin Hood' kind of tax. :p

 

[Morkula]

And Senator Bernie Sanders (I-Vermont) is filibustering the tax compromise. He's been speaking for five hours now, and shows no signs of stopping - joined by Sherrod Brown (D-Ohio) and Mary Landrieu (D-Louisiana). I've been listening to his speech for a bit, and he's spot-on about the shrinking middle class and how the GOP are being hypocrites about the deficit. I really wish there were more like him in congress. There's a live feed on C-SPAN.

 

[FreakyLocz14]

And Senator Bernie Sanders (I-Vermont) is filibustering the tax compromise. He's been speaking for five hours now, and shows no signs of stopping - joined by Sherrod Brown (D-Ohio) and Mary Landrieu (D-Louisiana). I've been listening to his speech for a bit, and he's spot-on about the shrinking middle class and how the GOP are being hypocrites about the deficit. I really wish there were more like him in congress. There's a live feed on C-SPAN.

I have a feeling that cloture will be cast upon that fillibuster. The Republicans already have 42 votes, and I'm sure President Obama can persuade18 Democrats to join in voting for cloture. President Obama has been speaking out in support of the compromise. Senate Majority Leader Harry Reid (D-Nevada) filed a motion to limit debate and has said that he would vote for cloture on any attempted filibuster.

 

[OmegaRuby and AlphaSapphire]

I think we should put a high tax on companies that have most of it's manufacturing (50 percent +) overseas...

 

[Cruelty And The Beast]

Anybody can pledge to cut taxes, it is very easy. The problem is a lot of the time leaders will cut taxes and not reduce spending, instead just making up the 'difference' through further expanding credit. The negative effects of this are delayed, often beyond the term length of the politician in question and tend to be blamed on externalities (usually bankers)

 

[Corvus of the Black Night]

I think we should put a high tax on companies that have most of it's manufacturing (50 percent +) overseas...

Um... wouldn't they just be taxed by those other countries lol? Hell no would they work in the states if both of that was going on.

I don't really understand this whole threat of the companies saying they'll move overseas if we tax them more. Like, WHERE the hell are they gonna move? The only places I really see are some random third world country (have fun making money/resources there), Japan (don't see this happening) or China (watch the quality drop!)...

I don't agree with them at all, but it makes sense why Obama extended them - priority-wise, it was far more important to extend unemployment benefits, and he kinda had to pick one or the other.

Gawd I'm so annoyed with this whole ****ing "party-mentality" with the government these days, nobody thinks for themselves anymore and is just doing **** to try to benefit their parties... Republicans DEFINITELY fill this role, although Democrats aren't doing much to prevent this label as well... gawd I hate politics.

 

[Cruelty And The Beast]

But it's not in anybody's interests to tax businesses heavily. Big businesses are big because they provide goods and services which the masses deem to be useful. If you tax big businesses heavily firstly, they simply pass the cost on to their consumers and so we all pay higher prices. Secondly, it increases the cost of production and so discourages investment in new lines of production. They may have to cut jobs as a result and it will certainly make them less likely to employ more people.

Furthermore, taxing companies who don't ave their production based in the US is an undated idea which was discredited over 200 years ago by Adam Smith. It is a Mercantalistic notion and it doesn't actually solve the fundamental problem in your Economy, the United States is productively not up the speed with countries such as New Zealand or Japan.

 

[NarutoActor]

I find it annoying that they are trying to add the estate tax on. You shouldn't be taxed just because you die, that's mest up. Each tax should be voted on individually, on there own standings.

 

[OmegaRuby and AlphaSapphire]

I find it annoying that they are trying to add the estate tax on. You shouldn't be taxed just because you die, that's mest up. Each tax should be voted on individually, on there own standings.

Yeah I don't like that Tax idea very much...though the reason for it is to tax rich estates inherited by rich peoples kids...

 

[Netto Azure]

Yeah...

US tax cuts: Obama signs compromise deal into law

President Barack Obama had said that a compromise was needed to win Republican support

US President Barack Obama has signed into law a compromise tax bill agreed with the Republicans, averting income tax rises for millions of Americans.

Mr Obama said the $858bn (651bn euros; £542bn) package was "real money that's going to make a real difference".
The deal also extends benefit payments for some of the longer-term unemployed for 13 months.
The bill passed over objections from House Democrats about tax breaks for wealthy Americans.
Mr Obama said compromise was needed to win Republican support. The $858bn package was passed by 277 votes to 148 in the House of Representatives.
"There probably is nobody on this floor who likes this bill," House Majority Leader Steny Hoyer, a Maryland Democrat, said.
"The judgment is, is it better than doing nothing? Some of the business groups believe it will help. I hope they're right."

Under a proposal the White House crafted with Republicans and announced last week, tax cuts enacted by President George W Bush in 2001 and 2003 and set to expire this year would be extended at all levels - including for the highest-earning Americans.
In addition, inheritance taxes affecting only the wealthiest Americans would be lowered and payroll taxes would be cut for a year in a bid to spur consumer spending.
Mr Obama and his Democratic allies had vigorously opposed allowing low tax rates for wealthy Americans to continue at a time of massive budget deficits, but Senate Republicans rejected Mr Obama's preferred approach and the president said he saw no option other than compromise.
When Mr Obama announced the deal last week he said it was the only way to avoid the damage to American families and the economy that would ensue if taxes were allowed to rise and long-term unemployment benefits were not extended.
Congressman Anthony Weiner, a liberal New York Democrat, said on Friday that Republicans had out-negotiated Mr Obama, describing them as "better poker players".
As liberals in Washington have railed against the deal, some conservatives also took up opposition.
They noted the bill adds to the US budget deficit, while also objecting that the low tax rates - which have the biggest impact on the deficit - are only temporary.

Well here's to having the bipartisan form of the stimulus. Pure tax cuts and basically adding funding to state unemployment benefits which would have been still spent although at a slower pace. A bit higher than the Democrats ARRA ($858bn) still as I said before, it pretty much just keeps in place what we have now. Tepid growth. :/
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[Bay]

So the taxes will be extended for all income levels, if I read it correctly? I understand Obama has to compromise or else this tax cut debate would never end. Here's to hoping slight progress with the unemployment rate will come through soon.