Obama's Best Moment

[IDBillzFan]

As this deal is taking form to extend Bush tax cuts and other things to get the unemployment benefits extended, it's really time to give Obama the credit he deserves for finally working with the GOP to get some important things accomplished. This isn't to say that I'm happy with the extension of the unemployment as I'm of the mindset that 3 freaking years of unemployment benefits does much more harm than good. In fact, this isn't about the specifics of the deal at all. In working with the right, Obama is showing a willingness to address important issues regardless of political fallout, especially as the left starts crying about him breaking his promise on the tax cuts, and he brings it home with this important comment from yesterday: "I'm not willing to let working families across this country become collateral damage for political warfare here in Washington."

 

While I have no problem giving a good share of the blame for fostering the current state of political warfare in DC, if he can continue to find ways to truly be a bipartisan president, it bodes well for everyone. I'm not sure it's in his idealogical makeup, but this is a good start and I'm willing to cut him a lot of slack if he keeps moving in this direction.

 

It's really his best moment to date.

[Magox]

As this deal is taking form to extend Bush tax cuts and other things to get the unemployment benefits extended, it's really time to give Obama the credit he deserves for finally working with the GOP to get some important things accomplished. This isn't to say that I'm happy with the extension of the unemployment as I'm of the mindset that 3 freaking years of unemployment benefits does much more harm than good. In fact, this isn't about the specifics of the deal at all. In working with the right, Obama is showing a willingness to address important issues regardless of political fallout, especially as the left starts crying about him breaking his promise on the tax cuts, and he brings it home with this important comment from yesterday: "I'm not willing to let working families across this country become collateral damage for political warfare here in Washington."

 

While I have no problem giving a good share of the blame for fostering the current state of political warfare in DC, if he can continue to find ways to truly be a bipartisan president, it bodes well for everyone. I'm not sure it's in his idealogical makeup, but this is a good start and I'm willing to cut him a lot of slack if he keeps moving in this direction.

 

It's really his best moment to date.

It is, but if you really looked into his speech, where he had the most fire in his belly was at the end, when he was defending his decision to his own base.

 

This very well may benefit them politically going into 2012. They will want to use the class warfare argument as a central piece of their theme, and frankly it may play well into their hands.

[Peace]

I still say it sends the wrong message packaging a tax cut with a spending increase. To me, it's a lose lose deal.

[3rdnlng]

I still say it sends the wrong message packaging a tax cut with a spending increase. To me, it's a lose lose deal.

 

It is not a tax cut. It keeps the taxes the same as they have been for the better part of a decade. It also raises inheritance taxes from 0 to 35% on over 5 million. We need to get this economy rolling so there is more money to pay down the deficit.

[/dev/null]

I still say it sends the wrong message packaging a tax cut with a spending increase. To me, it's a lose lose deal.

/agree

 

And I've seen news sites referring to this as Obama's Tax Cut even tho he is continuing a policy of his predecessor which he has so roundly criticized. So will these same news sites refer to the revenue/spending imbalance resulting from this deal as Obama's Deficit?

Edited December 7, 2010 by /dev/null

[TPS]

It is not a tax cut. It keeps the taxes the same as they have been for the better part of a decade. It also raises inheritance taxes from 0 to 35% on over 5 million. We need to get this economy rolling so there is more money to pay down the deficit.

There is a tax cut as they will temporarily cut the payroll tax for workers--finally, someone gets it. Now if only they can get Bernanke to buy those Trust fund treasuries...

Edited December 7, 2010 by TPS

[Magox]

I still say it sends the wrong message packaging a tax cut with a spending increase. To me, it's a lose lose deal.

I also agree, the total cost of this agreement is $900 Billion over the next two years.

 

Let us put aside the bull **** and rhetoric from both sides and take a look at the details of the proposal and it's total cost:

 

 

 

 

Estate Tax cost $10 Billion

 

Earned Income Tax Credit, the Child Tax Credit and the American Opportunity Tax Credit $40 Billion

 

Extended unemployment insurance $56 Billion

 

2% payroll tax cut to employees $120 Billion

 

Business R&D tax incentives $200 Billion

 

Bush tax cuts for middle class $150 Billion

 

Bush tax cuts for upper income earners $50 Billion

 

 

 

 

Hmmm, so the bill has a total cost of $900 Billion, yet the "wealthy" portion of the Bush tax cuts accounts for $50 Billion, which is a total of 5.5% of the entire budget.

 

So, this is where liberals have come across their new found inner deficit awareness. All this hoopla and bitching (see lybob) is about 5.5% of the total proposal.

 

Like I have said repeatedly, this is nothing more than class warfare.

Edited December 7, 2010 by Magox

[....lybob]

I also agree, the total cost of this agreement is $900 Billion over the next two years.

 

Let us put aside the bull **** and rhetoric from both sides and take a look at the details of the proposal and it's total cost:

 

 

 

 

Estate Tax cost $10 Billion

 

Earned Income Tax Credit, the Child Tax Credit and the American Opportunity Tax Credit $40 Billion

 

Extended unemployment insurance $56 Billion

 

2% payroll tax cut to employees $120 Billion

 

Business R&D tax incentives $200 Billion

 

Bush tax cuts for middle class $150 Billion

 

Bush tax cuts for upper income earners $50 Billion

 

 

 

 

Hmmm, so the bill has a total cost of $900 Billion, yet the "wealthy" portion of the Bush tax cuts accounts for $50 Billion, which is a total of 5.5% of the entire budget.

 

So, this is where liberals have come across their new found inner deficit awareness. All this hoopla and bitching (see lybob) is about 5.5% of the total proposal.

 

Like I have said repeatedly, this is nothing more than class warfare.

The only part of this Bill that makes sense is the business R&D tax incentives- everything else sucks- they do need to help the unemployed but after a year on unemployment you have to say your job ain't coming back and switch to a work/training program which would probably cost more than unemployment in the short term but you need to stop the deterioration of basic job skills in the long term.

[Peace]

I also agree, the total cost of this agreement is $900 Billion over the next two years.

 

Let us put aside the bull **** and rhetoric from both sides and take a look at the details of the proposal and it's total cost:

 

 

...

 

So, this is where liberals have come across their new found inner deficit awareness. All this hoopla and bitching (see lybob) is about 5.5% of the total proposal.

 

Like I have said repeatedly, this is nothing more than class warfare.

 

I hate all the good press this compromise is getting. It is a ___ing disaster right when I thought politicians were maybe turning the corner on deficit concern. Gross.

[....lybob]

I hate all the good press this compromise is getting. It is a ___ing disaster right when I thought politicians were maybe turning the corner on deficit concern. Gross.

Don't worry there will come a time when people simple stop lending to us- at that time will we default and become a pirate nation.

[/dev/null]

Don't worry there will come a time when people simple stop lending to us- at that time will we default and become a pirate nation.

[Booster4324]

 

We have a good fleet. Anyone got a few billion laying around for gas?

[/dev/null]

We have a good fleet. Anyone got a few billion laying around for gas?

Even if we can't find someone with a few billion laying around, we could always borrow some money from the Chinese to buy gas from the Arabs

[Peace]

I hate all the good press this compromise is getting. It is a ___ing disaster right when I thought politicians were maybe turning the corner on deficit concern. Gross.

 

And yet LABillzfan sees this as a great accomplishment.

[DC Tom]

As this deal is taking form to extend Bush tax cuts and other things to get the unemployment benefits extended, it's really time to give Obama the credit he deserves for finally working with the GOP to get some important things accomplished. This isn't to say that I'm happy with the extension of the unemployment as I'm of the mindset that 3 freaking years of unemployment benefits does much more harm than good. In fact, this isn't about the specifics of the deal at all. In working with the right, Obama is showing a willingness to address important issues regardless of political fallout, especially as the left starts crying about him breaking his promise on the tax cuts, and he brings it home with this important comment from yesterday: "I'm not willing to let working families across this country become collateral damage for political warfare here in Washington."

 

While I have no problem giving a good share of the blame for fostering the current state of political warfare in DC, if he can continue to find ways to truly be a bipartisan president, it bodes well for everyone. I'm not sure it's in his idealogical makeup, but this is a good start and I'm willing to cut him a lot of slack if he keeps moving in this direction.

 

It's really his best moment to date.

 

Okay...in terms of him choosing to do something politically uncomfortable in the name of "compromise"...yes, you're right.

 

But God, what a bull **** "compromise". "We'll give you everything you want, if you give us everything we want." And an agreement, no less, that should be taken into a dark alley and knifed to death. Someone needs to tell these idiots that tax cuts and never-ending unemployment coverage isn't decreasing the American taxpayer's burden...it's delaying that burden.

[Magox]

The only part of this Bill that makes sense is the business R&D tax incentives- everything else sucks- they do need to help the unemployed but after a year on unemployment you have to say your job ain't coming back and switch to a work/training program which would probably cost more than unemployment in the short term but you need to stop the deterioration of basic job skills in the long term.

Reducing the deficit is a two step process:

 

1) increase revenues

2) reduce spending

 

There are many ways to skin the cat through increasing revenues, and it doesn't necessarily include increasing marginal tax rates.

 

We have to get the economy going, and let's be real here, everything BO is trying hasn't produced the desired results.

 

This temporary demand side tax cuts are nonsense. Giving a one or two year tax cut doesn't inspire a whole lot of confidence for businesses.

 

There has to be a more permanent sustainable solution, such as dramatically lowering the corporate tax code, The corporate tax rate is at 35% which is the second highest in the developed world. That is ridiculous, if they lower the marginal rate we would attract more capital and businesses would unleash more of that $2 Trillion that they are sitting on. Also, if they repealed some of these nonsensical regulations that have been imposed by the Health care law, wall street bill and EPA enviromental restrictions that also would help.

 

Also broadening the income tax code and flattening it out to a lower marginal rate would also be a plus.

 

There are many things they could do.

[IDBillzFan]

And yet LABillzfan sees this as a great accomplishment.

Read my initial post again, and then see if you have the common sense to correct yourself.

 

Here are a couple of clues to help since you were so challenged the first time:

 

Clue number 1: "...it's really time to give Obama the credit he deserves for finally working with the GOP to get some important things accomplished."

 

Clue number 2: "In fact, this isn't about the specifics of the deal at all."

 

But hey, if you read that and equate it to my considering the specifics of the deal as a great accomplishment, then I suggest you let the adults continue the conversation and you return to last month's Highlights magazine. I'm sure there's a puzzle there that will keep you occupied until we're done.

[DC Tom]

But hey, if you read that and equate it to my considering the specifics of the deal as a great accomplishment, then I suggest you let the adults continue the conversation and you return to last month's Highlights magazine. I'm sure there's a puzzle there that will keep you occupied until we're done.

 

Weak. No one ever reads Highlights.

[BB27]

Weak. No one ever reads Highlights.

 

Hey, I read Highlights with my 3 year old all the time.

[IDBillzFan]

Weak. No one ever reads Highlights.

Then it's the perfect publication for a person who clearly has no reading comprehension skills.