Tuesday, December 7, 2010

the deal they're striking is no deal at all

Sorry folks, I disagree.  It's a sellout.  The Democrats had a powerful position and allowed themselves to be divided and bought off.  What we are looking at appears to be a compromise, but it's smoke and mirrors. 
I ask you, how can we allow ourselves to be painted into a corner and then, just because someone tosses us a sack lunch while they go off to dinner, we call it a compromise? 
Curious Carl
 
  Subject: the deal they're striking

  December 6, 2010, 4:54 pm
  Deal Would Reportedly Drop a Tax Credit
  By DAVID M. HERSZENHORN AND JACKIE CALMES
  As the White House and Congressional Republicans near a deal on sweeping
tax
  legislation, including an extension of the Bush-era tax rates for all
income
  levels, President Obama has agreed to give up the "Making Work Pay" tax
  credit that was the central tax break for middle and low-income Americans
in
  last year's economic stimulus bill.

  Mr. Obama had been pressing for a one-year extension of the Making Work
Pay
  credit, which provided a tax break of up to $400 for individuals and $800
  for couples. But Republicans opposed the idea.

  An administration official said that in the emerging deal, the "Making
Work
  Pay" credit would be replaced with a one-year reduction in payroll taxes
for
  workers.

  In addition to a two-year extension of the income tax rates enacted under
  President George W. Bush, the deal includes a one-year extension of
jobless
  aid for the long-term unemployed. Officials said negotiators were also
close
  to an agreement to restore the federal estate tax, which lapsed at the
start
  of this year, with an exemption of up to $5 million per individual, and a
  maximum rate of 35 percent.

  Mr. Obama, on a visit to Winston-Salem, N.C. on Monday, said the two sides
  were working toward an agreement that would prevent a tax increase at the
  start of the year when the Bush-era rates are due to expire.

  "Right now, Democrats and Republicans in Congress are working through some
  differences to try to get this done," Mr. Obama said. "And there are some
  serious debates that are still taking place. Republicans want to make
  permanent the tax cuts for the wealthiest Americans. I have argued that we
  can't afford it right now. But what I've also said is we've got to find
  consensus here, because a middle-class tax hike would be very tough not
only
  on working families. It would also be a drag on our economy at this
moment."

  Mr. Obama added, "There's no reason that ordinary Americans should see
their
  taxes go up next year. We should also extend unemployment insurance for
  workers who've lost their jobs through no fault of their own. That is a
  priority. And I should mention that's not only the right thing to do, it's
  the smart thing to do because if millions of Americans who aren't getting
  unemployment benefits stop spending money, that slows down businesses.
That
  slows down hiring. It slows down our recovery."

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