Why the tax deal might fail

[Benny B]

I listed some of the conservative critics of the tax deal in Wonkbook today (Rush Limbaugh, Sarah Palin, the Tea Party Patriots, Charles Krauthammer), but Playbook shows their ranks are growing: Mitt Romney has an op-ed in USA Today saying the tax deal gives "President Obama ... reason to celebrate. The deal delivers short-term economic stimulus, and it does so at the very time he wants it most, before the 2012 elections." He's joined by Rep. Darrell Issa, who says the compromise is "an incomplete effort that fails to create a permanent tax structure giving businesses the kind of long-term predictability needed to support investment, economic growth and job creation."

With Palin, Romney, Limbaugh and the largest tea party group on the same side of this, I'd bet there are plenty of elected Republicans looking to bail. What they need is an excuse. If the House Democrats manage to make any real changes to the deal, they'll have one -- and so will John Boehner and Mitch McConnell.

At this point, both sides have to seriously ask themselves: Who gets a better deal if the compromise framework collapses? Republicans know that Democrats -- and Obama in particular -- have more to lose if the economy takes another hit. The president said as much at his news conference. But they also know the tax deal is popular, and if they blow it up over something unpopular, like cuts for the very richest Americans, the public might turn on them. It's not an easy calculus, for either side.

Photo credit: Nikki Kahn/The Washington Post.

By Ezra Klein  | December 14, 2010

[Soul Crusher]

I called my rep. Nita Lowey and toldher hell no on this and the staffer said she got tons of call the same as mine. 


This supposed "deal" has turned in to utter horseshit. 

[Benny B]

I called my rep. Nita Lowey and toldher hell no on this and the staffer said she got tons of call the same as mine. 


This supposed "deal" has turned in to utter horseshit. 

What specifically do you not like about it, PEA BRAIN other than it showed a bipartisan success for Obama?

[Soul Crusher]

What specifically do you not like about it, PEA BRAIN other than it showed a bipartisan success for Obama?

Ethanol subsides, Nascar subsdies, the estate tax nonsense, etc etc. 

Its turned into a pork fest for the politicians and pure horsehit.   

[Benny B]

Ethanol subsides, Nascar subsdies, the estate tax nonsense, etc etc. 

Its turned into a pork fest for the politicians and pure horsehit.   

So Rush got his dittohead followers to hate the deal now, eh?

YOU of all people are upset about the estate tax, PEA BRAIN? I thought you wanted to get the max possible for the descendants of your piggy bank's contents vast wealth? 

So you are willing to give up your tax cuts for the wealthiest Americans to deny Obama what started out to the dummies as capitulation, but is slowly dawning on the masses as a victory? After all, we know that is why you are upset.  Your boys McConnell and Boehner got what they wanted, only to realize they got played. 

[Soul Crusher]

So Rush got his dittohead followers to hate the deal now, eh?

YOU of all people are upset about the estate tax, PEA BRAIN? I thought you wanted to get the max possible for the descendants of your piggy bank's contents vast wealth? 

So you are willing to give up your tax cuts for the wealthiest Americans to deny Obama what started out to the dummies as capitulation, but is slowly dawning on the masses as a victory? After all, we know that is why you are upset.  Your boys McConnell and Boehner got what they wanted, only to realize they got played. 

I would rather this fail and they deal with it next year and make these permanent and let ObaMAO veto it and let him take the blame. 

[GigantorX]

So Rush got his dittohead followers to hate the deal now, eh?

YOU of all people are upset about the estate tax, PEA BRAIN? I thought you wanted to get the max possible for the descendants of your piggy bank's contents vast wealth? 

So you are willing to give up your tax cuts for the wealthiest Americans to deny Obama what started out to the dummies as capitulation, but is slowly dawning on the masses as a victory? After all, we know that is why you are upset.  Your boys McConnell and Boehner got what they wanted, only to realize they got played. 

It's a shit bill, Benny. Plain and simple. What could of/should of been a simply vote for the extension of the current tax rates turned out to be a total pork laden spending bill with some tax extensions thrown on top. Typical D.C. garbage. And any bill that has anything "Pro-Ethanol" in it is a cluster fuck. Ethanol is a shining example of D.C. trying to bribe off possible voters by trying to push a completely inferior and wasteful failure of a product on the American people.

The U.S. Govt. has given ethanol a protected marketplace through huge tariffs on imported cane sugar (what Brazil makes their superior, but still eh, ethanol out of", companies get huge tax breaks to make it, then the govt. forces a 10% minimum ethanol content for every gallon of gasoline.....and they want to give ethanol even more? It's crap and a waste. It's bad for engines and storage tanks and a waste of money.

[muscleforlife]

I never did like all of the pork in it.

Causing the deficit to go up by the billions again.

Bipartisian vote.  I thought the new incoming congress was all against this.

Should be an interesting 2011 with the new group coming in.

Sandra

[225for70]

NEW YORK, Dec 7 (Reuters) - Moody's Investors Service is worried the extension of U.S. tax cuts agreed by President Barack Obama and Republican leaders could become permanent, hurting U.S. finances and its credit ratings in the long run.

Steven Hess, Moody's lead sovereign analyst for the United States, said on Tuesday doesn't foresee any change in the U.S. AAA ratings in the next 18 months to two years. He is, however, concerned about "what's going to happen in two years," when the extensions are set to expire again.

"The timing two years from now will be very complicated from a political point of view, with presidential elections in November 2012," Hess told Reuters in an interview.

"So we don't know if this is going to be extended again, or partially extended again," he said, noting that the tax cuts, while expected to provide an immediate "growth uptick", will hurt the country's fiscal position in the long run.

"We have long term concerns about the (U.S. credit) outlook and they are not yet being addressed. We're waiting to see if they're going to be addressed in the next couple of years," Hess said.

[MCWAY]

I would rather this fail and they deal with it next year and make these permanent and let ObaMAO veto it and let him take the blame. 

As I understand it, Obama (and Clinton, who may as well be running the show, at this point) want the bill as it initially was, minus all the swine that Reid and Pelosi are trying to jam into it.

I don't want taxes to go up on ANYBODY. But, if the GOP has to let this crash and burn and take care of it, when they take power in January, that's not too bad (provided they can do so quickly).

You know how it works. When you owe the government suits, they snatch your money like YESTERDAY. But, when they owe YOU money, it can take weeks, months, or YEARS before you get paid.

Obama knows it's political suicide to hike up people's taxes. If the GOP introduces a cleaner bill in January (should this one go away), he'll sign it....kicking and screaming....but he'll sign it.

[Benny B]

I would rather this fail and they deal with it next year and make these permanent and let ObaMAO veto it and let him take the blame. 

Wrong.
The blame will be squarely on the Repubes, were that to happen. Taxes will go up on the middle class and the poor, after Obama tried like hell to prevent it. The independents will credit him for his attempt at bipartisanship, and blame the Repubes for focusing their entire agenda on maximizing tax breaks for the wealthiest amongst us. Unemployment bennies will also expire for many, which would be unprecedented at a time when unemployment rate is this high.

[tonymctones]

Wrong.
The blame will be squarely on the Repubes, were that to happen. Taxes will go up on the middle class and the poor, after Obama tried like hell to prevent it. The independents will credit him for his attempt at bipartisanship, and blame the Repubes for focusing their entire agenda on maximizing tax breaks for the wealthiest amongst us. Unemployment bennies will also expire for many, which would be unprecedented at a time when unemployment rate is this high.

LMFAO i bet you thought the mid terms were going to go well for the libs didnt you benny? 

[Benny B]

It's a shit bill, Benny. Plain and simple. What could of/should of been a simply vote for the extension of the current tax rates turned out to be a total pork laden spending bill with some tax extensions thrown on top. Typical D.C. garbage. And any bill that has anything "Pro-Ethanol" in it is a cluster fuck. Ethanol is a shining example of D.C. trying to bribe off possible voters by trying to push a completely inferior and wasteful failure of a product on the American people.

The U.S. Govt. has given ethanol a protected marketplace through huge tariffs on imported cane sugar (what Brazil makes their superior, but still eh, ethanol out of", companies get huge tax breaks to make it, then the govt. forces a 10% minimum ethanol content for every gallon of gasoline.....and they want to give ethanol even more? It's crap and a waste. It's bad for engines and storage tanks and a waste of money.

Nobody cares about any of that shit, which is why it will ultimately pass. There may be some changes due to the dems in the House, but not that much.

The repubes have drummed it into the heads of Americans that the only things that matter are tax cuts and the budget deficit. Therefore, this bill makes everyone happy except for two groups: the "far and professional left" who don't want Obama to compromise and want him to be a Kucinich/Sanders democrat, and the "Far right Nutjobs and Tea Bagger types" who don't want anything that could in the slightest way be percieved as an Obama victory, because they think out of hatred and political point-scoring over logic.

[George Whorewell]

Wrong.
The blame will be squarely on the Repubes, were that to happen. Taxes will go up on the middle class and the poor, after Obama tried like hell to prevent it. The independents will credit him for his attempt at bipartisanship, and blame the Repubes for focusing their entire agenda on maximizing tax breaks for the wealthiest amongst us. Unemployment benny will expire for many, which would be unprecedented at a time when unemployment rate is this high.

You really are running neck in neck with Blacken as the dumbest person who posts on this board. I'll give him the title because of your racial handicap-- you can be subjected to the Barack "learning curve".  

QFT on the Freudian slip. I guess 99 weeks for you to find a job that surpasses your previous position as assistsant gas station attendant in charge of wiping down windshields at the full service pump hasn't been long enough. Those damn republicans and their job killing measures!

[tonymctones]

Nobody cares about any of that shit, which is why it will ultimately pass. There may be some changes due to the dems in the House, but not that much.

The repubes have drummed it into the heads of Americans that the only things that matter are tax cuts and the budget deficit. Therefore, this bill makes everyone happy except for two groups: the "far and professional left" who don't want Obama to compromise and want him to be a Kucinich/Sanders democrat, and the "Far right Nutjobs and Tea Bagger types" who don't want anything that could in the slightest way be percieved as an Obama victory, because they think out of hatred and political point-scoring over logic.

LOL damn your delusional...the vast majority of the country wants the tax deal passed as is without the compromise to appease you idiots on the far left

WHO complain about the deficit but then go add subsidies to the bill? FUKING REALLY??? 

[Benny B]

LMFAO i bet you thought the mid terms were going to go well for the libs didnt you benny? 

No. Why would you think that, McNuts? The midterms NEVER go well for a newly elected president. What's that have to do with the cost of tea in China? 

As long as the dems control the Senate and the White House, I'm good. 

[MCWAY]

No. Why would you think that, McNuts? The midterms NEVER go well for a newly elected president. What's that have to do with the cost of tea in China? 

As long as the dems control the Senate and the White House, I'm good. 

It has to do with the fact that, due to the midterms, Obama is BEING FORCED to pass the Bush tax cuts....even though "the dems control the Senate and the White House."

Hmmmm....but if  "the dems control the Senate and the White House.", where's the repeal of "Don't Ask; Don't Tell" and the DREAM act, again?

[tonymctones]

No. Why would you think that, McNuts? The midterms NEVER go well for a newly elected president. What's that have to do with the cost of tea in China? 

As long as the dems control the Senate and the White House, I'm good. 

LOL iono your delusions of granduer lead me to believe that such idiocy was capable from you...sorry honest mistake