Last Christmas, the Bush tax cuts were set to expire. This was the result of a rule that prevented legislation that runs up the deficit from lasting more than 10 years. Meaning that, at the time, Congress KNEW the cuts wouldn't "pay for themself". This also gives lie to Stephen Moore's recent revelation that the federal government took in "more revenue" than at any time in history for several consecutive years.
At any rate, they were supposed to expire. People like me would have breathed easy, but for the certainty that the GOP would never let that happen. Democrats and republicans then got into a game of chicken over tax rates for the middle class. Dems threatened the middle in an effort to get the top rate moved back to 39%. Reps threatened the middle in an effort to preserve the top rate at 35%. Dems predictably caved and the top rate didn't budge.
Fast forward to now, another Christmas, another tax war. This time it's over whether to preserve a payroll tax cut that largely affects the middle class (the people who actually spend money). Dems wanted to fund it by levying a 1.9% excise tax on millionaire incomes. Reps wanted to cut safety net spending. Reaching an impasse, the Senate wisely agreed to a 60 day extension to give them breathing room to work out a compromise.
The 60 day extension was supported by 89 Senators.
In the House, rife with freshmen teabaggers? DEAD ON ARRIVAL.
Boehner actually said if they couldn't extend the cuts for a year, they wouldn't by 60 days. Why? Because we'd be in exactly the same position in 60 days (begging the inference that no progress would be made). This drew immediate fire from the usual sources. And some not so usual: Senate republicans such as John McCain.
The teabagger controlled House wants to kill the patient because they don't like the ER bill. They want to pull $128 billion out of the economy (average of $800 x 160 million). Money they know, or should know will be spent, helping to push the sluggish economy along.
Unfortunately pragmatism, and apparently human decency, are dirty words to the tea party. Nothing matters more than blind, partisan ideology.
I'd ask them to do the right thing, come up with a compromise or at least back-burner the issue so that a deal can be struck. But given the teabaggers' gleeful willingness to engage in brinkmanship, don't bet on it.
Their way of doing business is to burn the house down because they don't like the drapes.
At any rate, they were supposed to expire. People like me would have breathed easy, but for the certainty that the GOP would never let that happen. Democrats and republicans then got into a game of chicken over tax rates for the middle class. Dems threatened the middle in an effort to get the top rate moved back to 39%. Reps threatened the middle in an effort to preserve the top rate at 35%. Dems predictably caved and the top rate didn't budge.
Fast forward to now, another Christmas, another tax war. This time it's over whether to preserve a payroll tax cut that largely affects the middle class (the people who actually spend money). Dems wanted to fund it by levying a 1.9% excise tax on millionaire incomes. Reps wanted to cut safety net spending. Reaching an impasse, the Senate wisely agreed to a 60 day extension to give them breathing room to work out a compromise.
The 60 day extension was supported by 89 Senators.
In the House, rife with freshmen teabaggers? DEAD ON ARRIVAL.
Boehner actually said if they couldn't extend the cuts for a year, they wouldn't by 60 days. Why? Because we'd be in exactly the same position in 60 days (begging the inference that no progress would be made). This drew immediate fire from the usual sources. And some not so usual: Senate republicans such as John McCain.
"The Republicans are losing this fight. We need to get back on track," McCain said. "A thousand dollars a year is a big amount of money to most Americans, and I think it's very important. ... I worry about the fact that we are continuing to increase the debt and the deficit, but now it's become very symbolic, and I think it has to be done."Mitch McConnell:
"House Republicans sensibly want greater certainty about the duration of these provisions, while Senate Democrats want more time to negotiate the terms," McConnell said in a written statement. "These goals are not mutually exclusive. We can and should do both."
The teabagger controlled House wants to kill the patient because they don't like the ER bill. They want to pull $128 billion out of the economy (average of $800 x 160 million). Money they know, or should know will be spent, helping to push the sluggish economy along.
Unfortunately pragmatism, and apparently human decency, are dirty words to the tea party. Nothing matters more than blind, partisan ideology.
I'd ask them to do the right thing, come up with a compromise or at least back-burner the issue so that a deal can be struck. But given the teabaggers' gleeful willingness to engage in brinkmanship, don't bet on it.
Their way of doing business is to burn the house down because they don't like the drapes.
