CNN, no longer TRYING to pretend that the tax cuts benefit "everyone"...

[Bush_Eats_Beef]

Senate approves $70 billion tax cut

Thursday, May 11, 2006; Posted: 5:46 p.m. EDT (21:46 GMT)

http://www.cnn.com/2006/POLITICS/05/11/tax.cuts.ap/index.html

WASHINGTON (AP) -- The Senate gave final approval Thursday to a $70 billion election-year package of tax cuts that will extend lower rates for investors and also save billions for families with above-average incomes. The Senate passed the measure by a 54-44 vote, clearing it for President Bush's signature.

The legislation provides a two-year extension of the reduced 15 percent tax rate for capital gains and dividends, currently set to expire at the end of 2008.

It also will extend for one year recent changes to the alternative minimum tax -- originally aimed at making sure the wealthy pay at least some taxes -- to prevent it from hitting more upper middle-income families. It is now common for taxpayers, especially those with families in high-tax states, to pay the AMT on incomes of $100,000 and more.

The bill also will extend for two years provisions sought by small businesses to let them write off up to $100,000 in investments in equipment and other expenses.

[JuniperLea]

1. He doesn't give a flying rat's ass for "we the people"

That smug picture makes me :puke:

[NJ_Lib]

2. That picture explains perfectly, part of the reason that he's...

... THE CHIMP!

[AzDar]

5. It's a cross between a chimp and Il Duce...Chimpolini !!

[blondeatlast]

3. Now Bill Gates can do EVEN MORE to drive the economy!

I mean, he's ahd to cut back on his weekly visits to Neiman's lately, poor thing.

And being rich is such a burden on the poor thing...

[Bush_Eats_Beef]

6. The burden of being rich AND sending all of those jobs overseas...

...my concern isn't what he's already done in India. My concern is his recent fascination with Viet Nam as "the NEXT India."

:patriot:

[Sapere aude]

4. The ATM extension and the write off of new equipment are good things IMO

The AMT was never tied to the CPI and it should have been. I'm sure some here will say that $100,000 a year is a salary of a wealthy person and in their animosity toward people who make more money than they do they will hate the ATM extension. I'll save you the time you would spend in flaming and acknowledge your views.

If business can write off equipment faster it encourages them to buy new equipment and that helps the economy and some jobs if the equipment is made here and sold here.


So IMHO this tax bill has it's good and bad parts.

[Donna Zen]

7. Yep

I'd like to think the tide is turning...but CNN is in the "fool me once" column. Forever.

[Bush_Eats_Beef]

8. I just think they let their guard down on this one...

...but I wouldn't classify it as a "sea change" or anything...

:patriot: