Someone explain why Obama and the Dems waited till now to address Bush tax cuts?

[Soul Crusher]

Can someone explain why Obama and the Dems waited till now to address Bush tax cuts?

These rates have been the same for the last 10 years and the Dems have had 2 years to address this on their own. 

Why dd they wait till the last second like this? 

Anyone?   

[tu_holmes]

Valid question, but I think it was simply to see how they faired in the midterm elections.

They knew a lot of people support the Bush tax cuts... including those who will not be effected by the proposal to keep them enabled for all but the top 2 percent.

I find that interesting as well.

I truly have no idea, but I don't understand why someone who makes 40K gives a damn about someone making 450K either.

Just comes across as weird.

[Soul Crusher]

Valid question, but I think it was simply to see how they faired in the midterm elections.

They knew a lot of people support the Bush tax cuts... including those who will not be effected by the proposal to keep them enabled for all but the top 2 percent.

I find that interesting as well.

I truly have no idea, but I don't understand why someone who makes 40K gives a damn about someone making 450K either.

Just comes across as weird.

Problem is that is many areas of the country 250k, the number being bandied about, is not rich by any measure. 

[MB]

The Dems were hoping to not address the issue and let them expire.  If they had maintained control of the House, we'd all be looking at a tax hike in January. 

[tu_holmes]

Problem is that is many areas of the country 250k, the number being bandied about, is not rich by any measure. 

I agree that if you're between 250K and about 500K you are most likely a small business owner and not "wealthy" by any stretch.

I just wonder why someone making 40K is all worried about people making 10 times that.

Just a question.

[Soul Crusher]

I agree that if you're between 250K and about 500K you are most likely a small business owner and not "wealthy" by any stretch.

I just wonder why someone making 40K is all worried about people making 10 times that.

Just a question.

Because everyone knows that with Democrats - it never stops wth the guy at 400k and always works its way downt the guy making 40k since the bullshit projections of revenues the dems use to justify their tax hikes never works out and theyhave to hammer people lower and lower on the scale. 

[tu_holmes]

Because everyone knows that with Democrats - it never stops wth the guy at 400k and always works its way downt the guy making 40k since the bullshit projections of revenues the dems use to justify their tax hikes never works out and theyhave to hammer people lower and lower on the scale. 

I don't think that's true... Seems like a stretch.

[Soul Crusher]

I don't think that's true... Seems like a stretch.

Ask most people as see what they say.    I live in NY, which is run by democrats and its the same crap time and time again with these tax addicts. 

[tu_holmes]

Ask most people as see what they say.    I live in NY, which is run by democrats and its the same crap time and time again with these tax addicts. 

I get that... I do... I can't stand it either, but until the Republicans stop spending, I can't vote for them either.

And I mean really admit that they have to stop spending and cut EVERYTHING, not just what they deem as "social programs".

[Soul Crusher]

I get that... I do... I can't stand it either, but until the Republicans stop spending, I can't vote for them either.

And I mean really admit that they have to stop spending and cut EVERYTHING, not just what they deem as "social programs".

Sadly - I don't see it happening.    Look at what happened with the deficit commission?  They had some great ideas, did not go far as I wanted, but even the modest proposals were met with screaming and whining about raising the retirement age in 50 years by 2 years. 

[tu_holmes]

Sadly - I don't see it happening.    Look at what happened with the deficit commission?  They had some great ideas, did not go far as I wanted, but even the modest proposals were met with screaming and whining about raising the retirement age in 50 years by 2 years. 

I agree and anyone who said something about cutting defense spending was met with the "You don't support the troops" schtick.

[tallgerman]

there is no such thing as bush tax cuts

there is the obama tax hike

[Soul Crusher]

They made a decent deal on this.  I can't lie. 

The far left is going to freak out. 

I applaud bama for making this deal. Seriously.  No bs on this.

[tu_holmes]

Personally I think the deal should have been to leave the cuts for those who make less than 1 million dollars a year.

But if you make more, then you should have them expire... I do think the payroll tax decrease was good too.

That will aide small businesses.

[tonymctones]

I agree that if you're between 250K and about 500K you are most likely a small business owner and not "wealthy" by any stretch.

I just wonder why someone making 40K is all worried about people making 10 times that.

Just a question.

that person making 40k maybe working for that person making 500k or their business may count on business from that person making 500k...

seems pretty simple to me the more money we have the more money gets put back into the economy....the less money we have...

so in a struggling economy what seems like the most reasonable thing to do?

[tu_holmes]

that person making 40k maybe working for that person making 500k or their business may count on business from that person making 500k...

seems pretty simple to me the more money we have the more money gets put back into the economy....the less money we have...

so in a struggling economy what seems like the most reasonable thing to do?

That's not how it works.... All businesses hire as many people as they need to do the job.

No more or less.

Eventually, that money gets put into the bank somewhere and since the banks aren't lending it out... it's sitting.

[tonymctones]

That's not how it works.... All businesses hire as many people as they need to do the job.

No more or less.

Eventually, that money gets put into the bank somewhere and since the banks aren't lending it out... it's sitting.

correct sir but in order to do a job they must have capital in which to do so...letting them keep more money allows them to have more capital, also small business may from time to time not take jobs b/c they know it will bump them into a higher tax bracket, but if youre already in the highest tax bracket any dollar you make over that will only add to your profit

also weve gone over this...there are reasons banks arent lending as much to say that banks arent lending is false I work with refi's on mortgages and new mortgages all day long and trust me banks are lending

you have a problem with banks not lending then you should be all for this...

[tu_holmes]

correct sir but in order to do a job they must have capital in which to do so...letting them keep more money allows them to have more capital, also small business may from time to time not take jobs b/c they know it will bump them into a higher tax bracket, but if youre already in the highest tax bracket any dollar you make over that will only add to your profit

also weve gone over this...there are reasons banks arent lending as much to say that banks arent lending is false I work with refi's on mortgages and new mortgages all day long and trust me banks are lending

you have a problem with banks not lending then you should be all for this...

I am in fact for it... Not "all" for it... but I am for it.

[MCWAY]

Can someone explain why Obama and the Dems waited till now to address Bush tax cuts?

These rates have been the same for the last 10 years and the Dems have had 2 years to address this on their own.  

Why dd they wait till the last second like this?  

Anyone?    

Simple! The liberals tried the tired GOP-just-wants-to-help-the-rich routine to generate support for midterms. But, that backfired and the Dems got the lips slapped off their faces.

Now, the GOP has Obama by the nuts and he has to play ball or get blamed for taxes on everyone (especially the middle class) going up, off the heels of unemployment "officially" being 9.8 percent.

[Skip8282]

Can someone explain why Obama and the Dems waited till now to address Bush tax cuts?

These rates have been the same for the last 10 years and the Dems have had 2 years to address this on their own. 

Why dd they wait till the last second like this? 

Anyone?   

IMO, it's mostly due to the fact that nobody is certain what the effects have been or what they will continue to be.  I'd have to go back and look, but I remember as late as 2007(? or so, the JCT and CBO were having difficulty measuring the impact.  Showing direct casual relationships is hard and when they start factoring in this economic factor and that economic factor, etc - well, it becomes even harder.