"House Begins Passing Series of Deficit-Hiking Tax Cuts"

[applegrove]

House Begins Passing Series of Deficit-Hiking Tax Cuts

by Michael McAuliff at the Huffington Post

http://www.huffingtonpost.com/2015/02/13/tax-cuts_n_6678574.html?utm_hp_ref=politics

"SNIP.................


One of the few bipartisan goals that President Barack Obama and Republicans agree on is comprehensive reform of the tax system, but Democrats cried foul Friday as GOP leaders in the House began passing permanent tax cuts that opponents believe would make that reform harder.

The House voted 272 to 142 to make permanent a number of temporary provisions that are aimed at helping businesses earning up to $2 million. The main cut, which would add $77 billion to deficits over 10 years, allows businesses to immediately write off new equipment purchases up to $500,000. Temporary versions of the measure have been passed about a dozen times before, generally as economic stimulus measures.

Since it's popular and it's been passed so many times before, Republicans argued, the policy should be made permanent.

"What we are simply trying to do here is produce certainty," said Rep. Paul Ryan (R-Wis.), the chairman of the Ways and Means Committee, which writes tax legislation. "We need to give businesses certainty. We need to help them plan for the future. We need to stop this crazy game of extending a tax benefit that has been on the books for quite some time one year at a time, or retroactive one year at a time, and give businesses certainty."




.................SNIP"

[applegrove]

1. They love big debt. Bet they want Hillary to start off her presidency in the hole.

[jwirr]

2. No, she is a side benefit. They want President Obama to end his presidency in the hole. Same old

racist bull they have been playing for the last 6 years.

[ND-Dem]

4. indeed they do. all the republicans since reagan. and it's a good way to pressure for program

cuts, social security cuts, etc.

[pansypoo53219]

3. fuck certainty. that word =bullshit.