Obama's Tax Agreement= Good or Bad?

Ok Obama agreed to a deal with the GOp to extend Bush taxes for the Rich as well as everyone else with some other provisions added. Some will see this as a Bipartisan agreement where others on the left will see this as Obama selling out or caving in to pressure from the GOP.
I honestly was against a tax break for the wealthiest but could live with tax breaks for everyone. However, the GOP stated that if the Bush taxes expire than it would be a colossal financial damage, whereas the DEMS stated that not allowing the middle class to have a tax break and only extending it to the Rich would add to the deficit. So how does giving in to both sides = a compromise?
What really irked me was the GOP telling Obama and the DEMS that they will stop legislating and will not vote on anything if the Bush taxes wasn't addressed immediately. Guys c'mon even if you are a die hard behavior how can you not condone that type of rhetoric and behavior? These are elected officials that are sent to washington to "WORK" they are not sent there for their own pleasures. this is no different from the spoiled kid who grabs his football and says :"If I don't get things my way I am taking my ball and going home".

Two wrongs dont make a right, but this behavior is very similar to the behavior of the Dems right after the election when they basically just ignored the GOP and did their own thing, it was not until the Scott Brown election that they stopped. You didnt have a problem with them doing that so dont get all thin skinned now.

Two wrongs dont make a right, but this behavior is very similar to the behavior of the Dems right after the election when they basically just ignored the GOP and did their own thing, it was not until the Scott Brown election that they stopped. You didnt have a problem with them doing that so dont get all thin skinned now. Originally Posted by dirty dog

DD I recalled the GOP saying No to everything Obama said without any suggestions of their own. I recall Obama giving them(GOP) ample time to come up with a Health Care plan of their own. I recall the GOP being the party of NO. I recall Obama offering to have a GOP summit on national TV where Obama- the lone Democrat literally destroyed a room full of GOP's on nearly every topic that was addresses. I think you are trying to re-write history DD.

From listening to the commentary on both sides of the aisle, I think this deal is the kind of compromise that everyone has been begging for the last two years - the Republicans got income tax rate stability for the next two years and the Bamster got his extra 13 months of unemployment and the re-instatement of the estate tax, albeit applying to estates worth more than $5 million. Both sides are complaining that their leaders did not stick to their guns and oppose the deals given to their opposites, which is the perfect definition of compromise - everyone got a little, no one got everything they wanted, and both sides are complaining.

And, WE, it's not just the GOP saying that letting the tax rate reductions expire would cause serious financial damage, but the White House as well....

http://apnews.excite.com/article/201...D9K02GH00.html

Lets correct a couple of things you said; these are not tax cuts. This is the current tax code, the current code. If they expire then they become the Obama tax increases but they are not lowering taxes again. They are staying the same.

The tax cut that was passed in 2001 (and is now the current code) affected everyone, not just the rich, EVERYONE! More accurately, everyone who paid federal taxes which is about 52% of the population. So can we get rid of the class warfare and the mathematically impossible language?

I sent my legislator to DC to stop Obama initiatives that are harming this country. So yes, they are doing what I want but lets look at the language.

Before coming to this deal tax cuts had to be paid for and the deficit was a monster. Now these tax cuts are going to become a stimulus and create jobs. The deficit no longer matters, well it didn't matter last year either or it only mattered a couple of weeks ago. Now it doesn't though.

I remember during the election when Obama was on Fox news and he admitted that raising taxes during a recession was a bad idea and he said that he won't do it.

Of course I see the peril allowed by the GOP with extending unemployment by 13 months. That means that we can do this again next year at this time. That means tear jerker stories about people being without money on Christmas.

The best thing is how angry the liberals are.

DD I recalled the GOP saying No to everything Obama said without any suggestions of their own. I recall Obama giving them(GOP) ample time to come up with a Health Care plan of their own. I recall the GOP being the party of NO. I recall Obama offering to have a GOP summit on national TV where Obama- the lone Democrat literally destroyed a room full of GOP's on nearly every topic that was addresses. I think you are trying to re-write history DD. Originally Posted by wellendowed1911

I think your memory may be a little biased and opportunistic. The republicans became the party of no when the town hall scream fest started and they saw an opporunity to capitalize on it. Prior to that the Dems ignored the GOP and forced the stimulas bill and the pork fill omnibus bill that followed it without even trying to talk to the GOP, it was not until the Health care debate started and they saw the party of no being successful in public opinion did they make a show of trying to include the other side. So stop the b/s please and you want to talk about re-writing history.

Obama won this hands down. The real debate is delayed until 2012, so he can run around the country complaining about the evil rich people and how the Republicans want to help them. It's all for show. Rich people aren't scared of tax increases, most of them didn't become rich by being stupid. They will put their money where it will do the most good for them. If taxes here are too high, they will move it somewhere else.

I wish there was a true "party of no." Congress is spending us into oblivion, and liberty is losing ground by the second.

COG, I agree completely. Obama wins this round big. As you say, politically Obama gets the best of this because he can take credit for the unemployment extension with his labor friends, and now because of the tax deal he's in position to blame the Republicans if the economy hasn't improved when the 2012 election is in full swing.

If the economy does improve by 2012 (which I think it will), the sitting President is always in a good position to take credit for a good economy. Win-Win.

For those who are under the impression that our political parties fighting and trying to block everything the other party is attempting to do is something new, you need to study American history a little more. In politics there is nothing new under the sun.

I recommend American Lion: Andrew Jackson in the White House by Jon Meacham
and Theodore Rex by Edmund Morris

These modern politicians are sissies, lol.

Screw my kids and future grandchildren. They can deal with the financial collapse of our government after I'm dead. Until then, give me my tax cut!!!!

I find the class hatred of the left to be revealing. They just can't stand any benefit to the "rich" and are willing to hurt the economy (country) to make their point.

I come back to the point of...what had a tax increase for someone else ever done to benefit you personally? We're not talking about a tax cut!!!! No one is saying to cut the tax rates that have been in place for the last seven years - all we're saying is not to let these tax rates increase for anyone, especially when the economy is just starting to show signs of coming back. I would have liked to have seen the tax rates for those who earn less than $1 million made permanent, revisit the upper-most bracket in two years and allow that rate to go from 35% to 37% (less than its pre-2003 level but still an increase) to be balanced with a reduction in the capital gains rate to 10% or less and reduce the estate tax rate from 35% to 15%.

My REAL preference is to have a flat tax rate of 10% on all earned income, no taxes on interest, dividends or capital gains, eliminating all deductions except for mortgage interest, and remove the mandatory withholding requirement. Incentivise savings and investment and home ownership.

Screw my kids and future grandchildren. They can deal with the financial collapse of our government after I'm dead. Until then, give me my tax cut!!!! Originally Posted by BigMikeinKC

There is no tax cut, the rate stays the same it does not go down, in fact its a tax increase if it was allowed to expire, how much are you volunteering to increase your taxes to save your kids and grandchildren BigMike, you can always pay more on your own, there is a box on your w4 that allows it and you can skip itemizing your deductions and just take the standard with no exemptions, are you going to do that Mike or are you going to get all the exemptions you got coming. Everyone that is wanting the Bush plan to expire, are you going to take the child tax credits and everything else. If you are then where is your worry about your kids future. Give me a freakin break.

"What really irked me was the GOP telling Obama and the DEMS that they will stop legislating and will not vote on anything if the Bush taxes wasn't addressed immediately"

Presently, the democrats have a supermajority in the House, and 60 votes in the senate (when independents like Sanders and Lieberman caucus with them). They could vote whatever they wanted, with or without the republicans. Its been that way for two years.

I think Obama went for triangulation. No matter how much he pissed off his supporters, he thinks he can still count on their vote (probably true). He also thinks that some moderates will like the compromise, and be inclined to vote for him. It worked for Clinton...but for some reason, I don't see it working as well for Obama. Time will tell.

Also included is the 2% reduction of SS tax. Just like 'Making Work Pay', I think Obama will get very little political benefit, since most Americans pay somebody else to do their taxes, and generally don't pay attention. If the extra money shows up in small installment on each paycheck, nobody notices.

Obama won this hands down. The real debate is delayed until 2012, so he can run around the country complaining about the evil rich people and how the Republicans want to help them. It's all for show. Rich people aren't scared of tax increases, most of them didn't become rich by being stupid. They will put their money where it will do the most good for them. If taxes here are too high, they will move it somewhere else.

I wish there was a true "party of no." Congress is spending us into oblivion, and liberty is losing ground by the second. Originally Posted by CuteOldGuy

Hear, Hear!
I am a self employed small business owner and would have taken it in the butt with the tax increase, and believe me, I've got no desire to send any more of my money to Washington to be wasted.
But, I'm definitely opposed to this "compromise", it's going to be nothing more than another trillion dollar "stimulus" that puts our country deeper in the hole.
Another 13 months of paying people to be non-productive, and where's the money coming from?
Losing 2% going into SS, which is already running deficits, that will have to be made up somewhere.

I thought that a message was sent with the last election, it really was about out of control spending for me and most people I speak with, but these jerks have just doubled down.
I'm seriously considering sending a bunch of money to those Texas Nationalist guys, if we can't get a handle on this at a national level, maybe we really should pull it back to state level.

Screw my kids and future grandchildren. They can deal with the financial collapse of our government after I'm dead. Until then, give me my tax cut!!!! Originally Posted by BigMikeinKC

Big Mike, it's not the taxes that are screwing our children and grandchildren, it's the spending! Until Congress quits spending, the tax rates will be essentially irrelevant. Even if the new rates went into effect, the debt will still increase exponentially. Spending will destroy us, not lower taxes.