Pascrell calls for Dems to compromise on taxes as North Jersey GOP candidates praise pledge

[no_hypocrisy]

No . . . . !



Rep. Bill Pascrell Jr. said Thursday it’s time for Democrats to compromise with Republicans on taxes, and they need to pass a bill before Election Day.

Massive tax increases loom as a series of tax-cut bills dating back to 2001 are all set to expire at the end of this year.


-snip-

Pascrell, D-Paterson, pitched his proposal at closed-door meetings of the full Democratic caucus and the Democratic members of the Ways and Means Committee. He and Rep. Michael Capuano, D-Mass., also released a letter to both parties’ leaders.

Their plan calls for a five-year extension of rates for those making under $250,000 and a one-year extension for individuals or couples making less than $500,000. It also would provide a five-year extension of capital gains and dividend rates.

-more-

http://www.northjersey.com/news/092310_Pascrell_calls_for_Dems_to_compromise_on_taxes_as_North_Jersey_GOP_embraces_tax_pledge.html

[the redcoat]

1. One year?!

What the hell will one more year of tax cuts for the rich do? How could anyone fall for such a shallow political move? Well...I guess in the big scheme of things it's nothing new in politics...

[karynnj]

3. I think it is just a way to get rid of them over time

If it would pass, it might not be bad. It does after 5 years raise everyone's taxes back to the Clinton levels, which may be what is needed with the deficit.

It is also interesting that it immediately raises those above $500,000.

If this could get the votes in both Houses, it might not be a bad compromise.

[karynnj]

2. self delete