buh-bye Obama election win,mandate,political capitol.. don't know why we thought he'd stick to what he ran on and was elected on..
buh-bye payroll tax cut.. we'll give it to people making 250-400K a year instead, they're the ones who really need that 2% break in taxes..
buh-bye child tax/earned income/student loan credit in 5 years.. we had to give the upper echelon
permanent tax cuts instead..
What I'm not going to do is to extend Bush tax cuts for the wealthiest 2% that we can't afford and, according to economists, will have the least positive impact on our economy," the president said
buh-bye any hope of rallying your base again..
When asked whether closing loopholes instead of raising rates would be satisfactory, the president responded, "when it comes to the top 2%, what I'm not going to do is to extend further a tax cut for folks who don't need it, which would cost close to a trillion dollars. And it's very difficult to see how you make up that trillion dollars, if we're serious about deficit reduction, just by closing loopholes in deductions. You know, the math tends not to work."
The deal passed by the Senate would cap itemized deductions for individuals making $250,000 and for married couples making $300,000.
Raising the threshold for higher tax rates to $400,000 shrinks the number of Americans affected. While nearly 2% of filers have adjusted gross incomes over $250,000, only 0.6% have incomes above $500,000, according to the Tax Policy Center.
we'll just make the difference up by raising payrolls taxes on those making >$110,000.. they don't really need that extra $40 a paycheck..
I get that there had to be concessions since we're held hostage by a fanatical group of sociopaths whose only goal is to stop gov't, not fix it or work with it, but kill it in a bathtub... BUT. When you actually campaign on a once-sourly-thought of, socialist/populist idea of say, making the wealthy pay a little more so the little guy could catch up.. and you not only win, you win resoundingly as does your entire party all the way down to local results.. when you even have 50+% approval, from the other party's populous on this idea and +60% in your own..how in the utter fuck do you not get your way?
and how do you deal away the child tax credit/earned income credit,tuition credit.(in 5 year)?
Game, Set, Match and win to McConnell..
now lets watch Boehner cluster fuck it even more now that they know Obama's ready to cave on what he ran on..Hell, Lindsey Grahm knew it the other day when he said
But Graham said he won't support a package that raises rates on income between $250,000 and $400,000 or $500,000, because he knows Democrats will cave and accept a higher threshold. He used the example of his fellow guest, Sen. Dianne Feinstein (D-Calif.).
"No," he said when asked if he'd support the $250,000 level, "because she's willing to go for more, and why would I not find 4 or 500, because I know the votes are there for 4 or 500? But in the House, will the votes be there for 4 or 500?"
Feinstein flinched and, when pressed, put the onus back on the president, who was the first to raise the compromise level to income over $400,000. "We believe that the 250 threshold is the appropriate threshold. The president did make an offer, we understand, of 400,000, with a trillion in cuts accompanying it. That was turned down by the House," she said. "The time has come really to measure the absence of a deal against a deal. ... We have to solve this immediate situation."
Asked whether she'd accept the higher level, Feinstein was quick to answer. "I could certainly live with it," she said.
You won the election.. but you can live with losing what you ran on? even when the party who just lost what they ran on says to you "I'm still not budging.. because I know you're a pussy who will"..
can't say I'm surprised.. coming off the re-upping of warrant-less wiretaps over the weekend..no, I can't say I'm surprised at all
