Senate moderates ask that keeping popular tax cuts not worsen budget defic

[Judi Lynn]

Senate moderates ask that keeping popular tax cuts not worsen budget deficits

MARY DALRYMPLE, AP Tax Writer
Monday, July 19, 2004
(07-19) 11:41 PDT WASHINGTON (AP) --

A bipartisan group of senators wants Republican leaders to consider extending three of President Bush's most popular tax cuts without forcing the federal budget deeper into red ink.

The group plans to propose extending tax cuts for wage earners, married couples and parents for a year. They would cover the $30 billion cost of preserving those tax cuts by ending abusive tax shelters and extending customs service fees, aides to the senators said. They spoke on condition of anonymity because the senators planned to announce their proposal later Monday.

President Bush asked Congress to push through an extension this week before the Democratic and Republican parties hold their presidential nominating conventions. If lawmakers don't act this year to preserve those tax cuts, taxpayers can expect to pay $50 more in income taxes and lose up to $300 in a child tax benefit next year.

House Speaker Dennis Hastert, R-Ill., told reporters last week that the president wants the Republican-led Congress to preserve his tax cuts without cutting spending or increasing taxes to cover the cost.
(snip/...)

http://www.sfgate.com/cgi-bin/article.cgi?f=/news/archive/2004/07/19/financial1319EDT0109.DTL

[shoelace414]

1. Math is Hard!

House Speaker Dennis Hastert, R-Ill., told reporters last week that the president wants the Republican-led Congress to preserve his tax cuts without cutting spending or increasing taxes to cover the cost.

[Parche]

2. tax

what tax cuts? I havnt seen any, I had to pay

[74dodgedart]

3. president wants..to preserve his tax cuts without cutting spending ..

or increasing taxes to cover the cost.... In other news, Bush wants pigs to sprout wings and fly out of Hastert's rear-end....

What planet are these people from ? Is "deficit" that hard a concept to understand ?

[Richardo]

4. Communists.

Feh. ;-)

[struggle4progress]

5. This really is a Republican treason: it is a deliberate effort ...

(dating from the Reagan era) to destroy the federal power by bankrupting it.

The effect, of course, will not only be to destroy the ability of the federal government to prevent pollution, protect consumers by ensuring food and drug integrity, and provide safety nets such as social security -- but will also ultimately compromise national security by destroying our military.


This is no secret in DC -- and Congress should stop pretending to be unaware of the game.

Greenspan Urges Cuts to Social Security to Rein In Deficit
By EDMUND L. ANDREWS and KENNETH N. GILPIN
Published: February 25, 2004
http://www.nytimes.com/2004/02/25/business/25CND-FED.html?ex=1090382400&en=d09550a88c8c9ef3&ei=5070