Obama outlines deal to keep tax cuts

[one_voice]

But for now, he conceded, “this bipartisan plan is the right thing to do.”

For the next two years, every American family will keep their tax cuts, which were set to expire Jan. 1.

In return, Obama won the continuation of tax breaks that were in the 2009 stimulus package. This includes that the child tax credit, Earned Income Tax Credit, and the American Opportunity Tax Credit, which helps college students pay their tuitions.

“These are the tax cuts for some of the folks hit hardest by the recession,” Obama said. “And it would be simply unacceptable if their taxes went up while everyone else’s stayed the same.”

Under the agreement, unemployment insurance would be extended for 13 months. Next year it also provides a 2 percent pay roll tax cut and allows businesses to write off investments – a job creation proposal Obama first identified back in September.

~snip~

“I’m not willing to see 2 million Americans who stand to lose their unemployment insurance at the end of this month be put in a situation where they might lose their home, their car, or suffer some additional economic catastrophe,” he said.

Read more: http://www.politico.com/news/stories/1210/46048.html#ixzz17NmkdQqw

[yurbud]

1. so sad. He held the cards on this and gave them away.

[rucky]

10. He has an open invitation to our weekly poker games.

[frylock]

2. but you'll see 4 million other americans lose these things..

fuck. this. shit.

[CreekDog]

3. Is this deal actually done, or are the Republicans going to exact more flesh first?

I'm a little worried about the usual path of negotiations here.

[blurp]

4. Unbelievable!

Obama, you're not the male I thought you were.

[RBInMaine]

5. The large majority of the nation agrees with Obama on this, and he'll be applauded. GOOD !

[ArcticFox]

11. Are you kidding?

The large majority of the nation wants the tax cuts to expire on incomes above around $250,000. I've read of polls showing exactly that (something like 60 or 68%). Some even realize they could give up the tax cuts for the lower brackets and not be too hurt.

And by the way, even if it were true, cheering people doesn't always equate to good policy.

[bluethruandthru]

12. The majority of Americans did NOT want tax cuts for the wealthy extended!

Obama needed to stand up today and say he refused to be bullied and blackmailed by the republicans who were going to kick and scream and do everything in their power...including shutting down the government...if they didn't get tax cuts for themselves and their friends! He had the chance to show he had balls today...but now we all know for sure that he doesn't.

[Goldstein1984]

6. No way to rationalize this

Even when it's quid pro quo, he still gives away two for one.

The choice seems to be between bullies and cowards, and I choose neither.

What little support I had left for this party and this president evaporated a few minutes ago. I'm done.

[Moondog]

7. Man. I've got a bridge to sell this guy.

And a couple of used cars.

The word "chump" comes to mind.

[AC_Mem]

8. If I had to negotiate

and give up a kidney in order to save my children, I would negotiate and do it.

People are too hard on our President. We know that the GOP does not care about the American people - they just don't. They happily threw 2 million unemployed on the table and said "give us what we demand or they suffer". If you had the responsibility for 2 million people losing everything, what would you do?

Sadly, I would give the terrorists what they demanded, and then figure out a way to F___ them at the very first opportunity.

I support my President. I don't like this at all and my heart is sobbing, but I understand that he can't let 2 million people lose everything right before Christmas. And I bet that they appreciate the huge sacrifice that he made as well.

Those who want to hold a hard line against the GOP are also throwing 2 million unemployed on the table. Are we willing to make that gamble and possibly lose? That makes us no better than them.

The clock is ticking - where are the jobs and this BETTER turn the economy around quickly, or the GOP will have their asses handed to them in 2012. They may have won this battle, but I really don't think that they have won the war.

Sadly,
Annette

[pnorman]

16. I'm with you on that, Annette! Many of these uber-firebreathers seem to think that 2008 looked like

THIS:


The 2010 battle was lost at the ballot box, but the WAR will be won or lost in 2012! So either yield to the onanistic delights of saying: "I TOLD YOU!!!", or help build a solid PROGRESSIVE movement for that final battle

Paul Norman

[ArcticFox]

9. Too late for that, O-man!

Most of those people are going to lose their home, their car, or suffer some additional economic catastrophe whether or not their unemployment insurance is extended. All your "deal" will ensure is another tax cut for the rich in another two years - "or else."

This was a prime chance to demonstrate the Republicans holding the jobless hostage for a ransom to the superwealthy in the amount of $700,000,000,000, paid in ten easy annual installments. All the O-Meister needed to do was stand up proud and say "I'll veto any bill that extends tax cuts for the wealthy."

Let them all lapse, I say. How much more is the average worker going to pay a year? "$5000" they say. But that is a lie. Only somebody (single) making very close to $200,000 a year would pay that much more (see http://www.mytaxburden.org/). Somebody making a more common salary of, say $50,000 a year, would pay . . . wait for it . . . SIX HUNDRED DOLLARS MORE! Oh, the humanity . . . .

And now think of all the good that could be done for us all if only we could use that $700,000,000,000 for things like schools, roads, an agency to make sure we're not eating industrial by-products, inspectors to make sure the chickens and pigs we are going to eat aren't covered in shit when they're slaughtered.

Is the Obaminator seriously telling us that we are each so stupid that we wouldn't gladly pay $600 in return for $700,000,000,000?

This was THE chance to brand the Republican Party the party of EXTORTION. In the end, they would have caved on the jobless benefits.

[BzaDem]

14. Try punching in a family of 4 making 40k/year. You will see that they would lose 2.5k, not 600.

Even a family of 4 at the poverty line (22k/year) would lose over 2k.

The package being passed does not give 700 billion to the wealthy; it gives 140 billion.

[ArcticFox]

15. Ok, good point

I was quick with that calculator. I still think the democrats should hold out. There would be uprising against Republicans if this thing were explained properly.

[Lint Head]

13. I am devastated. Truly devastated. I had hope. I had dreams.

They are dead along with my passion for this President. Obama is not outsmarting the GOP. He caved.
The excuse is to save the unemployed from suffering. I heard that same 'suffering' line before.
He is not using his power. Flame me if you like. This administration has already gutted my faith.