How Big Is The US Debt?
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moreluck
golden ticket member
[h=2]White House Declares Victory In Fiscal Cliff Fight Before House Votes On Measure…[/h]Looks like Obama is going to celebrate on the golf course.
WASHINGTON — The White House issued a “fact sheet” statement Tuesday declaring the fiscal cliff agreement a victory, though the House has yet to vote on the measure.
“At this make or break moment for the middle class, the President achieved a bipartisan solution that keeps income taxes low for the middle class and grows the economy,” the statement says. “For the first time in 20 years, Congress will have acted on a bipartisan basis to vote for significant new revenue.
“This means millionaires and billionaires will pay their fair share to reduce the deficit through a combination of permanent tax rate increases and reduced tax benefits.”
The White House said it achieved 85 percent of what it wanted on taxes, locking in $620 billion in revenue from wealthier Americans over 10 years. The statement, entitled “The Tax Agreement: A Victory for Middle-Class Families & the Economy” and issued less than an hour before Vice President Joe Biden was scheduled to meet with House Democrats on the Hill, includes a list of talking points covering everything from capital gains (hiked to 20 percent) to the extension of unemployment benefits and tax credits for renewable energy.
“At this make or break moment for the middle class, the President achieved a bipartisan solution that keeps income taxes low for the middle class and grows the economy,” the statement says. “For the first time in 20 years, Congress will have acted on a bipartisan basis to vote for significant new revenue.
“This means millionaires and billionaires will pay their fair share to reduce the deficit through a combination of permanent tax rate increases and reduced tax benefits.”
The White House said it achieved 85 percent of what it wanted on taxes, locking in $620 billion in revenue from wealthier Americans over 10 years. The statement, entitled “The Tax Agreement: A Victory for Middle-Class Families & the Economy” and issued less than an hour before Vice President Joe Biden was scheduled to meet with House Democrats on the Hill, includes a list of talking points covering everything from capital gains (hiked to 20 percent) to the extension of unemployment benefits and tax credits for renewable energy.
moreluck
golden ticket member
The house could stick by their guns, not pass it....then folks just might ask.....why didn't that pres. compromise on that cutting spending?
Boehner is expendable.....principles are not!!!
The pres. is just pissed because he wanted that bill to incude the raising of debt ceiling too.
He's got to mellow or the house will give him a hard time when it comes to "give me more money".
There was a list of Senate Dems. who voted NO for it too.
I don't think so. There are too many republicans in the senate and around the country who are watching Boehner now. It's all up to his caucus. Everyone else is onboard.
And the debt-limit debate, I think, has already been worked on by the president. He has it framed the way he wants it and business leaders around the country are going to be able to push enough republicans and democrats together to avoid congress-made calamity. Business is beginning to get the certainty it needs to build up a powerhouse economy and they aren't going to wait quietly for four more years to have republicans claim credit for it.
And the debt-limit debate, I think, has already been worked on by the president. He has it framed the way he wants it and business leaders around the country are going to be able to push enough republicans and democrats together to avoid congress-made calamity. Business is beginning to get the certainty it needs to build up a powerhouse economy and they aren't going to wait quietly for four more years to have republicans claim credit for it.
moreluck
golden ticket member
Not "everybody" is on board !!! There were 8 'no' votes......smeDems. too.........
The other “no” votes were: Michael Bennet (D-Col.), Tom Carper (D-Del.), Chuck Grassley (R-Iowa), Tom Harkin (D-Iowa), Mike Lee (R-Utah), Rand Paul (R-Ken.), and Richard Shelby (R-Ala.). Republicans Jim DeMint of South Carolina and Mark Kirk of Illinois as well as Democrat Frank Lautenberg of New Jersey did not vote. Rand Paul and Rubio were no's too."
Apparently Mr. Lautenberg (D) fashions himself as an Obama ....he did not vote.
The other “no” votes were: Michael Bennet (D-Col.), Tom Carper (D-Del.), Chuck Grassley (R-Iowa), Tom Harkin (D-Iowa), Mike Lee (R-Utah), Rand Paul (R-Ken.), and Richard Shelby (R-Ala.). Republicans Jim DeMint of South Carolina and Mark Kirk of Illinois as well as Democrat Frank Lautenberg of New Jersey did not vote. Rand Paul and Rubio were no's too."
Apparently Mr. Lautenberg (D) fashions himself as an Obama ....he did not vote.
moreluck
golden ticket member
Wow, 8 no votes? Man that thing barely squeaked through
Well, I needed to point out that "everybody" wasn't on board as the poster stated!!
moreluck
golden ticket member
We’ll know more soon as House Republicans are scheduled to meet again at 5:15 p.m.
Via Roll Call:
Via Roll Call:
House Republicans emerged from a Tuesday afternoon conference meeting showing near-unanimous opposition to the Senate-passed fiscal cliff deal and holding that without spending cuts the bill should not be brought up.
Speaker John A. Boehner of Ohio remained relatively neutral about the Senate bill, but he told the conference he was shocked by how many Senate Republicans supported it, according to sources in the room.
Majority Leader Eric Cantor of Virginia, meanwhile, gave the strongest indication yet that leadership stands opposed to passing the bill without amending it.
“I do not support the bill. We are looking for the best path forward,” Cantor told reporters after the meeting. “We are looking for the best path forward and no decisions have been made.”
Leadership is looking for a path forward, but most members who exited the meeting said that the next step will probably be to try to amend the bill, most likely with a measure that cuts spending, and send it back to the Senate.
“I would be shocked if this bill does not go back to the Senate,” Financial Services Chairman Spencer Bachus of Alabama said as he exited the meeting
Speaker John A. Boehner of Ohio remained relatively neutral about the Senate bill, but he told the conference he was shocked by how many Senate Republicans supported it, according to sources in the room.
Majority Leader Eric Cantor of Virginia, meanwhile, gave the strongest indication yet that leadership stands opposed to passing the bill without amending it.
“I do not support the bill. We are looking for the best path forward,” Cantor told reporters after the meeting. “We are looking for the best path forward and no decisions have been made.”
Leadership is looking for a path forward, but most members who exited the meeting said that the next step will probably be to try to amend the bill, most likely with a measure that cuts spending, and send it back to the Senate.
“I would be shocked if this bill does not go back to the Senate,” Financial Services Chairman Spencer Bachus of Alabama said as he exited the meeting
moreluck
golden ticket member
[h=2]Senate Fiscal Cliff Bill Raises Taxes On 77% Of U.S. Households…[/h]
And yet they will still pimp this as a bill to prevent tax hikes.
And yet they will still pimp this as a bill to prevent tax hikes.
WASHINGTON — Only the most affluent American households would pay higher income taxes this year under the terms of a deal that passed the Senate early Tuesday morning, but most households would face higher payroll taxes because the deal does not extend a two-year-old tax break.
The legislation, which still must overcome resistance exhibited on Tuesday by House Republicans, would grant most Americans an instant reversal of the income tax increases that took effect with the arrival of the new year. Only about 0.7 percent of households would be subject to an income tax increase this year, according to the Tax Policy Center, a nonpartisan research group in Washington. The increases would apply almost exclusively to households making at least half a million dollars, the center estimated in an analysis published Tuesday.
But the Senate’s decision not to reverse a scheduled increase in the payroll tax that finances Social Security, while widely expected, still means that about 77 percent of households would pay a larger share of income to the federal government this year, according to the center’s analysis.
The tax this year would increase by two percentage points, to 6.2 percent from 4.2 percent, on all earned income up to $113,700.
The legislation, which still must overcome resistance exhibited on Tuesday by House Republicans, would grant most Americans an instant reversal of the income tax increases that took effect with the arrival of the new year. Only about 0.7 percent of households would be subject to an income tax increase this year, according to the Tax Policy Center, a nonpartisan research group in Washington. The increases would apply almost exclusively to households making at least half a million dollars, the center estimated in an analysis published Tuesday.
But the Senate’s decision not to reverse a scheduled increase in the payroll tax that finances Social Security, while widely expected, still means that about 77 percent of households would pay a larger share of income to the federal government this year, according to the center’s analysis.
The tax this year would increase by two percentage points, to 6.2 percent from 4.2 percent, on all earned income up to $113,700.
Senate Fiscal Cliff Bill Raises Taxes On 77% Of U.S. Households…
And yet they will still pimp this as a bill to prevent tax hikes.WASHINGTON — Only the most affluent American households would pay higher income taxes this year under the terms of a deal that passed the Senate early Tuesday morning, but most households would face higher payroll taxes because the deal does not extend a two-year-old tax break.
The legislation, which still must overcome resistance exhibited on Tuesday by House Republicans, would grant most Americans an instant reversal of the income tax increases that took effect with the arrival of the new year. Only about 0.7 percent of households would be subject to an income tax increase this year, according to the Tax Policy Center, a nonpartisan research group in Washington. The increases would apply almost exclusively to households making at least half a million dollars, the center estimated in an analysis published Tuesday.
But the Senate’s decision not to reverse a scheduled increase in the payroll tax that finances Social Security, while widely expected, still means that about 77 percent of households would pay a larger share of income to the federal government this year, according to the center’s analysis.
The tax this year would increase by two percentage points, to 6.2 percent from 4.2 percent, on all earned income up to $113,700.
Awww, you lost again.. The bill passes. Obama gets his way and the republicans FAIL, Again.
All the NO votes were from those who most likely will face sure defeat if they vote yes on the bill..
In 2 days, look for Boehner to be pushed to the curb, and Eric Cantor to be voted speaker. Cantor is a bigger idiot amongst idiots in the GOP, but at least he wont cry like a little girl when stuff happens.
Boehner will go back to the bar and ride out his term as a house member. It was probably too tough for him to maintain his sobriety while being hammered most of the time.
The president has ruled victoriously once again against the WEAK GOP.
"Stand on our principles".... blah blah blah.... all tough talk with no SACK.
Congrats President Obama. You have shown you are a great leader.
Peace
TOS
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