General Discussion

edhopper

(33,580 posts) Mon Dec 31, 2012, 04:11 PM Dec 2012

Many here predicted this would happen when the Bush Tax Cuts expired last time.

We said they would hold the country hostage again, and we were fearful Obama would once again negotiate with himself and the Repugs would get the better of him. I am not optimistic about the current deal.

13 replies

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Highlight:

Many here predicted this would happen when the Bush Tax Cuts expired last time. (Original Post) edhopper Dec 2012 OP

Not this time.... Historic NY Dec 2012 #1

There are no revenues in this deal... kentuck Dec 2012 #3

The problem now is the debt ceiling in the next 8 weeks Cali_Democrat Dec 2012 #2

Thing is Wall Street doesn't want another downgrade flamingdem Dec 2012 #5

Ah lest we forget about the credit agencies AldoLeopold Dec 2012 #11

Why not? JoePhilly Dec 2012 #4

The committee is in session to determine the next definition jberryhill Dec 2012 #7

lol JoePhilly Dec 2012 #12

Raising the tax rate edhopper Dec 2012 #9

he caved again..thats how he rolls. bowens43 Dec 2012 #6

On what? CakeGrrl Dec 2012 #8

Obama was for extending the tax cuts then, except for the wealthiest bhikkhu Dec 2012 #10

Yes, edhopper Dec 2012 #13

Historic NY

(37,449 posts)

1. Not this time....

Reply to edhopper (Original post)

Mon Dec 31, 2012, 04:13 PM

Dec 2012

w/o revenue were sunk you can't pay the bills and clsoe the interest gap.

kentuck

(111,097 posts)

3. There are no revenues in this deal...

Reply to Historic NY (Reply #1)

Mon Dec 31, 2012, 04:14 PM

Dec 2012

to speak of. They will be back with the same sick argument.

Cali_Democrat

(30,439 posts)

2. The problem now is the debt ceiling in the next 8 weeks

Reply to edhopper (Original post)

Mon Dec 31, 2012, 04:14 PM

Dec 2012

The GOP will now have the upper hand and will likely get their cuts to SS, Medicare, Medicaid and even Obamacare.

flamingdem

(39,313 posts)

5. Thing is Wall Street doesn't want another downgrade

Reply to Cali_Democrat (Reply #2)

Mon Dec 31, 2012, 04:19 PM

Dec 2012

and let's hope they don't wish to further damage their brand..

AldoLeopold

(617 posts)

11. Ah lest we forget about the credit agencies

Reply to flamingdem (Reply #5)

Mon Dec 31, 2012, 04:33 PM

Dec 2012

JoePhilly

(27,787 posts)

4. Why not?

Reply to edhopper (Original post)

Mon Dec 31, 2012, 04:15 PM

Dec 2012

I sense the goal posts shifting again.

Last week Obama was going to cave and cut SS ... that's not happening.

The week prior, he was going to raise the Medicare age ... that's not happening.

What is today's definition of "cave"?

jberryhill

(62,444 posts)

7. The committee is in session to determine the next definition

Reply to JoePhilly (Reply #4)

Mon Dec 31, 2012, 04:23 PM

Dec 2012

JoePhilly

(27,787 posts)

12. lol

Reply to jberryhill (Reply #7)

Mon Dec 31, 2012, 04:37 PM

Dec 2012

edhopper

(33,580 posts)

9. Raising the tax rate

Reply to JoePhilly (Reply #4)

Mon Dec 31, 2012, 04:29 PM

Dec 2012

only for those over $400,000, which I suspect will go to $500,000 before it's done.

bowens43

(16,064 posts)

6. he caved again..thats how he rolls.

Reply to edhopper (Original post)

Mon Dec 31, 2012, 04:22 PM

Dec 2012

CakeGrrl

(10,611 posts)

8. On what?

Reply to bowens43 (Reply #6)

Mon Dec 31, 2012, 04:24 PM

Dec 2012

What do you think the Republicans will "win" before today's deadline?

bhikkhu

(10,716 posts)

10. Obama was for extending the tax cuts then, except for the wealthiest

Reply to edhopper (Original post)

Mon Dec 31, 2012, 04:31 PM

Dec 2012

and as the economy was just sputtering along into a recovery, millions faced the cut off of unemployment benefits, and the repugs had a pretty good hand to play, the compromise was pretty predictable. They wanted the wealthy to keep their tax breaks, and we needed the unemployment extension.

Things are quite a bit different now.

edhopper

(33,580 posts)

13. Yes,

Reply to bhikkhu (Reply #10)

Mon Dec 31, 2012, 04:49 PM

Dec 2012

now we need to extend unemployment, and in exchange the rich get to keep their tax breaks.

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