So the house won't pass this, right? We've already gone off the cliff, right?
If they pass it tomorrow, we sort-of-but-not-really went over. Practically it never happened except house republicans can say they voted on a tax cut.
So the house won't pass this, right? We've already gone off the cliff, right?
I can see why republican bloggers are upset with the bill (it raises taxes) but the idea that it will ruin the economy is laughable. If I was a republican I'd probably be ambivalent towards the deal, but excited about the future inevitability of rolling Obama on more spending cuts during the debt ceiling fight; the main lesson to be taken here is that the election changed nothing, Obama will continue to cave in the face of obstruction/media hand wringing, and he will likely be less popular in March than he is now.
How do you keep making predictions when you have been so wrong? It's plain ignorance..
Well you have been so right in the past, SURELY your prediction will be correct again!!
hold on lol, you are going to bet Obama WILL NOT negotiate over the debt limit, ie he will demand it be raised and refuse to come to the table with republicans?
hold on lol, you are going to bet Obama WILL NOT negotiate over the debt limit, ie he will demand it be raised and refuse to come to the table with republicans?
This is like bizarro PD.
after the election i heard bitching on the radio how conservatives don't have a chris matthews type to fight for them.
after the election i heard bitching on the radio how conservatives don't have a chris matthews type to fight for them.
He should refuse to negotiate until they raise the debt limit. Negotiations are pointless otherwise. They'll pass something and then be back to square 1 in less than 2 months. Otherwise we are better off with raising taxes and starting sequester so the debt limit is less of an issue.hold on lol, you are going to bet Obama WILL NOT negotiate over the debt limit, ie he will demand it be raised and refuse to come to the table with republicans?
after the election i heard bitching on the radio how conservatives don't have a chris matthews type to fight for them.
Quick thought about the sequester debt ceiling crisis cliff: it might conceivably produce an awkward position for the GOP. The purpose of opposing the debt ceiling is that they want spending cuts. The purpose of the sequester is spending cuts. So opposing both is a messaging problem -- they should really accept one and oppose the other, to be consistent.
after the election i heard bitching on the radio how conservatives don't have a chris matthews type to fight for them.
The tax on capital gains and dividends will be permanently set at 20 percent for those with income above the $450,000/$400,000 threshold. It will remain at 15 percent for everyone else. (Clinton-era rates were 20 percent for capital gains and taxed dividends as ordinary income, with a top rate of 39.6 percent.)
I'm just now reading this, but isn't this a fucking HUGE concession from the Dems?
The source said it was the president who insisted the final deal include a pay down on the sequester and a tax increase that hit individuals making at least $400,000 a year and $450,000 for households.
Senate Minority Leader Mitch McConnell started negotiations at $750,000, and then moved to $550,000 before giving in and agreeing to $450,000 for households.
"Permanently" just means it won't come up for renewal. That doesn't necessarily mean it can't be changed in the future, I don't think.
They did it through ACA.Yeah, I get that, but think about that for a sec. How in God's name are the Dems ever gonna get another opportunity to raise taxes on capital gains/dividends ever again?
They did it through ACA.
If they pass it tomorrow, we sort-of-but-not-really went over. Practically it never happened except house republicans can say they voted on a tax cut.
The only question with the deal is WTF will now happen 2 months down the road...
ever see the road warrior
The only question with the deal is WTF will now happen 2 months down the road...
Supposedly the only reason Senate Dems accepted the compromise was because they were assured by the WH that they wouldn't cave to the debt ceiling hostage taking.
So yeah, we'll see. Wouldn't hold my breath on that WH promise though...
Which is why I am ok with $400k.400k is the same amount of money as 250k was in 1992, adjusted for inflation.
Which is why I am ok with $400k.
Gotta admit though. That 250k would've been damn nice, even if it was only about 100 billion or so in extra revenue.
Any breakdown of the votes?Final vote 89-8
Any breakdown of the votes?
The eight senators who voted no included Marco Rubio, Republican of Florida and a potential presidential candidate in 2016, two of the Senate’s most ardent small-government Republicans, Rand Paul of Kentucky and Mike Lee of Utah, and Senator Charles E. Grassley of Iowa, who as a former Finance Committee chairman helped secure passage of the Bush-era tax cuts, then opposed making almost all of them permanent on Tuesday. Two moderate Democrats, Thomas R. Carper of Delaware and Michael Bennet of Colorado, also voted no, as did the liberal Democrat Tom Harkin, who said the White House had given away too much in the compromise. Senator Richard C. Shelby, Republican of Alabama, also voted no.
I like you Tom Harkin. I'm not really terribly pleased with you Obama
I like you Tom Harkin. I'm not really terribly pleased with you Obama
Conservative voters are pissed
http://www.redstate.com/2012/12/31/fiscal-deal-tax-hikes-green-pork-stimulus-oh-my/#disqus_thread
Supposedly the only reason Senate Dems accepted the compromise was because they were assured by the WH that they wouldn't cave to the debt ceiling hostage taking.
So yeah, we'll see. Wouldn't hold my breath on that WH promise though...
Same here, kind of. If the tea party blows this up, they're done and the republican party has then hit rock bottom. Even with the memories of goldfish I don't think the republicans could hold the house in 2014 if they do that.