Congress, White House Deadlock on Tax Cut - (GOP Schisim)

[LeftHander]

Seems the WHite House isn't getting it's way with some GOPers now....

Bush's GOP support crumbling...??


AP - WASHINGTON - Republicans are looking toward September to restart talks on extending three popular tax cuts as prospects for a deal this summer ended in deadlock between the White House and the Republican-controlled Congress.

The White House insisted that the three tax cuts, scheduled to expire at the end of this year, stay on the books for five more years. President Bush (news - web sites) had asked Republican leaders to push a bill through Congress this week before a six week summer hiatus and the parties' presidential nominating conventions.

Lawmakers neared agreement late Tuesday to extend the three popular tax cuts for two more years. The shorter timeframe took into account worries among moderate senators, including a few Republicans, about record budget deficits......more


http://story.news.yahoo.com/news?tmpl=story2&u=/ap/20040722/ap_on_go_co/tax_cuts

Edited - spelling in title

[richabk]

1. Tax inequality

I went home to see a friends and family this past weekend and got into a discussion on taxes with my best friend. He's a die-hard Republican when it comes to finances...and I found out why.

We both have comparable salaries (roughly $80K). He has a stay at home wife with 3 kids and owns his own home. I am single and live in an apartment. I found out that with all the tax cuts Bush has handed out, his ENTIRE federal tax obligation last year was ONLY $1,000!!!! Mine on the other hand was over $12,000! And he was the one complaining about raising taxes!

Can anyone tell me how this discrepancy is fair?

[randr]

2. Rove was on NPR this morning

whining about how the Dems have obstructed key Repug proposals and appointees.
He must be feeling the heat as the rats in his nest run for cover.

[Warpy]

3. notice which tax cuts are set to expire!

None of the cuts for the richest are set to expire. Only the increased child deduction, the lowering of the bottom bracket, and the ending of the marriage penalty will expire.

The wealthiest will continue to get a bonanza. Those of us who work for a living will see our taxes go back up.

This is exactly what the right wing is all about, hiking the taxes on the poorest in order to fatten the rich!

This is not a rebellion against Bush. This is a continuation of GOP fiscal policy: screw working people to fatten the rich!

[LeftHander]

4. Still Bush wants the Death Tax to be perm....

THis is probably in the proposal.

This will completly track off the radar...any sign of weakness in the GOP would mean Bush will see his support flee as they try to save thier asses. Given that Rove was mouthing his filthy hole this morning and Hastert was silent means the WHite House has been backed up against the ropes.