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Senate Republicans block tax cut extension for middle class

By a vote of 53 to 36, the Senate defeated a proposal to extend tax cuts first on those earning more than $250,000 in income. Then, by a vote of 53 to 37, the Senate defeated a proposal that set the income cap at $1 million.

 
mommom2000

Asked by mommom2000 at 9:49 PM on Dec. 5, 2010 in Politics & Current Events

Level 24 (21,584 Credits)
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Answers (86)
  • The public is beginning to realize that the affluent among us are the ones that provide the "real" jobs and opportunity and not the spread the wealth around crowd...

    Most of the truly wealthy are NOT the ones creating jobs. They're investing it to make more money for themselves. Haven't we already figured out that trickle down economics does not work? I do agree that in these difficult times, small businesses don't need a sudden jump in taxes, that's why I think a compromise is in order. I do think some long term changes need to be made in our tax system too.
    pam19

    Answer by pam19 at 10:32 PM on Dec. 5, 2010

  • The republicans want the tax cuts for EVERYONE. Pay attention please.
    Carpy

    Answer by Carpy at 10:43 PM on Dec. 5, 2010

  • You are still clinging to that 3% crap! LOL

    yourspecialkid

    Answer by yourspecialkid at 10:59 PM on Dec. 5, 2010

  • It has nothing to do with class warfare talking points. It has to do with what makes most sense to get us out of this mess. The only talking points are the ones coming from your side , when you say it will hurt small business. Which has proven to be false, but you can't see it. If the tax cuts made so much sense, then where are all the jobs that the affluent people hired with these tax cuts. You are so gullible, they have you right where they want you.

    Can you please show the the IRS links proving your point. I don't mean the junk from Huffpo or MSNBC. I am links to real tables like the one I gave you some time ago..which if you had bothered to look at you wouldn't be embarassing your self now.
    yourspecialkid

    Answer by yourspecialkid at 11:06 PM on Dec. 5, 2010

  • Most of the truly wealthy are NOT the ones creating jobs. They're investing it to make more money for themselves.

    And just what the hell do you think those INVESTMENTS do???? If you invest, you are counting on the companies you invest IN to GROW!!! SIMPLE ECONOMICS. What would happen to the economy if the wealthy suddenly took all those investments OUT of it?

    Can you say COLLAPSE??

    Damn, statements like that just stun me in the level of stupid it takes to make them.
    Carpy

    Answer by Carpy at 10:47 PM on Dec. 5, 2010

  • Funny, for all of mommom's brainless whining (yet again) and her source from a non-legitimate "news" agency (you do realize that website is just pay per click articles optimized for web traffic to earn ad revenue, right?), the headline on Today this morning is - congress readies deal on tax cuts, now Obama says he won't sign it unless HE gets something in return.

    Yeah, damn those evil republicans playing games and keeping your livelihood hostage...
    NotPanicking

    Answer by NotPanicking at 7:02 AM on Dec. 6, 2010

  • The Senate cannot get 60 votes because many of them have heard the voice of the electorate on November 2 and the one's to run for reelection in 2012 are afraid for their own job and well they should. The public is beginning to realize that the affluent among us are the ones that provide the "real" jobs and opportunity and not the spread the wealth around crowd...the idiots that think you grow jobs with unemployment payments. I'm sure the local utility company is going to run right out there and put on extra help. The farmer is going to plant more seed to harvest in six months and the cell phone company is going to hire more help for the flood of new activations. You want to bring down the deficit and reduce the debt and start rehiring...then reduce capital gains, keep the tax rate low and let the private sector do what it does best...hire and invest to grow more taxable goods and services.
    annabarred

    Answer by annabarred at 10:22 PM on Dec. 5, 2010

  • They are not investing it back into their companies to expand, and create jobs for Americans. They are profiting too much by not hiring Americans. Lets not forget that big business had record breaking profits in the third quarter. They reported the largest profits ever recorded. From these record breaking profits wheres the investments in new projects that will hire Americans?

    You can't hire people if there is no DEMAND for the goods or services you provide.
    Companies should be commended for having cash in the bank. It will help see them through the tight times. If the banks and car companies had done this they wouldn't have needed a bailout.
    yourspecialkid

    Answer by yourspecialkid at 11:03 PM on Dec. 5, 2010

  • Higher Tax Rates on the Rich Would Hit the bulk of Small Business Economy

    Carpy

    Answer by Carpy at 11:42 PM on Dec. 5, 2010

  • yearly avg unemployment
    Bush years
    2001 4.7%
    2002 5.8
    2003 6.0 Bush tax cuts
    2004 5.4%
    2005 5.1
    2006 4.6
    2006 4.6
    2007 4.6
    2008 5.8%
    Obama years
    2009 9.3%
    2010 9.6

    Unemployment want down for 5 years stright after the Bush tax cuts were passed.
    Natesmom507

    Answer by Natesmom507 at 11:46 PM on Dec. 5, 2010