Senate tax bills die on floor

posted at 12:30 pm on December 4, 2010 by Ed Morrissey

To the surprise of no one, two attempts by Senate Democrats to raise taxes in the middle of economic stagnation failed to clear procedural votes this morning.  As the AP noted before the votes took place, everyone knew the votes would fail.  However, Senate Democrats looking nervously at a potentially difficult 2012 election wanted to get some populist credibility in place now:

Their defeat on the Senate floor is predictable and the speeches have the ring of the recent campaign season.

But Democrats are already eyeing the 2012 elections and eager to engineer a showdown over tax cuts in an attempt to depict Republicans as guardians of the rich.

“Do we want to extend those tax breaks for millionaires and billionaires at a time of huge deficits? I would argue vociferously we shouldnt,” Sen. Chuck Schumer, D-N.Y., said Saturday shortly before scheduled votes.

Republicans countered that no one’s taxes should be raised at a time the economy is still recovering from the a recession. “It is the most astounding theory I have ever seen, raise taxes to create jobs,” said Sen. John Thune of South Dakota.

Democrats needed 60 votes to proceed to a floor vote, but couldn’t get more than 53 on either measure.  The bill that would have hiked taxes on incomes above $250,000 failed 53-36, while the bill that would have hiked taxes on incomes of more than $1 million failed 53-37.

What next?  The Washington Post reported last night that the White House and the GOP have begun bargaining to keep all of the tax cuts — but it will cost $150 billion in further stimulus spending to buy them:

Republicans are demanding that Democrats extend Bush-era tax cuts at all income levels at least temporarily, not just those that primarily benefit the middle class. They are also pressing Democrats to approve a measure to keep the government funded through September, a move aimed at avoiding a fight with the White House over spending that could provoke a government shutdown.

In return, Obama is seeking Republican support for as much as $150 billion in new spending on the economy, including an additional 13 months of emergency jobless benefits and another year of his signature “Making Work Pay” tax cut for working families.

The latest round of jobless benefits expired Tuesday night, leaving 2 million people facing the holidays without income support. New U.S. Bureau of Labor Statistics figures out Friday showed the unemployment rate climbed two percentage points last month to 9.8 percent, dashing hopes that the economic recovery was picking up. Failure to renew the benefits could do widespread harm to jobless families and, according to a White House economic report released Thursday, destroy 600,000 jobs over the next year as those families curb spending.

Obama made that point Thursday in remarks to a gathering of newly elected governors at Blair House. “Our hope and expectation is that unemployment insurance – something that traditionally has had bipartisan support – is something that once again will be dealt with as part of a broader package,” he said.

Republicans have so far resisted, arguing that if jobless benefits are extended, the cost should be covered by cutting spending elsewhere.

That used to be called Pay-Go, at least when Democrats backed that notion.  They passed the Pay-Go rule in February and have spent the entire year ignoring and waiving it since.  The GOP doesn’t want to go on record backing yet another round of borrowing to pay for jobless benefits which have already been extended to two years.

The move to get a continuing resolution is intriguing, and somewhat counterintuitive.  If Democrats wind up punting on the FY2011 budget, they’ll lose control of spending immediately, which would give Republicans an opening to begin reductions now instead of over the summer.  On the other hand, CRs more or less freeze spending in place, which both parties have supported at least in concept.  It gives the GOP some breathing room to carefully peruse the budget and make plans to propose cuts and perhaps even eliminate some agencies during the spring and summer.  It also would remove the temptation by the White House to simply refuse to work with the GOP and have their first days and weeks in control of the House marred by a shutdown in hopes of pinning the blame on John Boehner.

Now that the political theater has concluded, perhaps a deal will be forthcoming that will at least give small business owners and investors a little more clarity on 2011 and 2012.


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Dear Leader has been “refudiated”…

d1carter on December 4, 2010 at 12:33 PM

And instead, taxes will go up for everybody, just as Pelosi, Obama and Reid intended.

steveegg on December 4, 2010 at 12:34 PM

Why is the GOP compromising with those terrorists?

SouthernGent on December 4, 2010 at 12:35 PM

There is NO REASON for Republicans to compromise. Obama can’t afford to face the public with his Bush-Tax-Cuts-For-Only-The-Rich meme blown up in his face.

If he wants to play hardball… let him face the taxpaying public in January when the bill lands on his desk and DARE him to veto it.

Murf76 on December 4, 2010 at 12:40 PM

“Do we want to extend those tax breaks for millionaires and billionaires at a time of huge deficits? I would argue vociferously we shouldnt,” Sen. Chuck Schumer, D-N.Y., said Saturday….

It’s not their fault that you morons spend too much. Why should they be penalized?

UltimateBob on December 4, 2010 at 12:41 PM

Why is it fair to get a tax cut if you are a business owner and you made $249K, but someone who makes $1K more does not deserve it

ConservativePartyNow on December 4, 2010 at 12:43 PM

The Democrats have 60 votes and still can’t pass anything. Dismal failure by any measure.

SurferDoc on December 4, 2010 at 12:43 PM

Hey there Dinosaur Dems! I gots me a ideer! Why don’t y’all try something imaginative like CUTTING SPENDING!

I know, I know. It’s a novel approach to cutting the abysmally unsustainable deficit. Come on, give it a shot! Dang class warfare got y’all how many new representatives in the last election?

BigAlSouth on December 4, 2010 at 12:44 PM

As mentioned in the headline thread, See BS’s headline was thoroughly predictable and predicted weeks ago. The MSM has become so predictable as being completely on the side of the Dems and liberals that they have no chance of being perceived as unbiased and/or neutral

AZfederalist on December 4, 2010 at 12:44 PM

It gives the GOP some breathing room to carefully peruse the budget and make plans to propose cuts and perhaps even eliminate some agencies during the spring and summer.

I could live with that. But will they do it?

tru2tx on December 4, 2010 at 12:51 PM

Why is it fair to get a tax cut if you are a business owner and you made $249K, but someone who makes $1K more does not deserve it

ConservativePartyNow on December 4, 2010 at 12:43 PM

To be fair, the way I understand it is that if you make $249k, the Dems want keep your tax rates the same, but if you make $251k, you only pay the increased rate on the $1k and not the first $250k.

But nonetheless, IMO the real problem is not the actual tax rates, it’s the loopholes. The loopholes are what allow multi-millionaires like Warren Buffet to pay less tax than his secretary (as he famously declared).

UltimateBob on December 4, 2010 at 12:52 PM

“It is the most astounding theory I have ever seen, raise taxes to create jobs,” said Sen. John Thune of South Dakota.

The most astounding theory is Nancy Pelosi’s – that the unemployment checks create wealth and jobs.

If the righties agree to the stoppage of the Obama tax hikes, in exchange for more wasted tax-payers’ money on anything, they are the same harlots the left are.

Waste this moment in time, morons of the left and especially of the right. Spineless bastar*s all of you. 2012 can’t come soon enough – YOU all deserve to go home, left, middle, to right.

Schadenfreude on December 4, 2010 at 12:53 PM

Sen. Ben Judas Nelson of NE was a yea on 259, and a nay on 258.

OmahaConservative on December 4, 2010 at 12:06 PM

OmahaConservative on December 4, 2010 at 12:54 PM

Why don’t ALL the DemoRats in Congress cut a check for 25% of their net worth and give it to the IRS to help with the deficit?? They should lead by example rather than exclude themselves from some pain.

ny59giants on December 4, 2010 at 12:55 PM

To be fair, the way I understand it is that if you make $249k, the Dems want keep your tax rates the same, but if you make $251k, you only pay the increased rate on the $1k and not the first $250k.

UltimateBob on December 4, 2010 at 12:52 PM

I don’t think so. Before the Bush tax cuts, I paid 39% tax across the board on earnings of about $260,000 a year.

Is there something different going on this time? Am I the only one that’s going to clear out some cash from my deferred comp plan to buy gold or silver in order to beat the increased capital gains if Barry veto’s this?

Knucklehead on December 4, 2010 at 1:00 PM

Time to stop calling it “extending the Bush tax cuts” and call it what it is: The Obama Tax Increase. Stop the Obama Tax Increase!

cartooner on December 4, 2010 at 1:01 PM

The Democrats are selling the idea that the best way to have a wealthy society is to punish wealth. This toxic concept, along with the use of the word “rich” as a pejorative, has wormed its way into too many places in our society, and it’s time conservatives in Congress and elsewhere refuse to accept the fundamental premise.

I would much rather live in a country where there were huge numbers of people with more money than I have than a country where nobody had more money than I have. Imagine what it would be like if nobody in America had “surplus” wealth.

tbrosz on December 4, 2010 at 1:04 PM

Knucklehead on December 4, 2010 at 1:00 PM

Yes, the bill at the $250K level exempted the first $250K from the increase so if you made $500K, only half would be taxed at the higher rate. It was a gimmick to make it more palatable to some Republicans.

cartooner on December 4, 2010 at 1:06 PM

Is there something different going on this time? Am I the only one that’s going to clear out some cash from my deferred comp plan to buy gold or silver in order to beat the increased capital gains if Barry veto’s this?

Knucklehead on December 4, 2010 at 1:00 PM

I’ve put all of my Roth IRA savings into precious metals, and it’s doing better than ever.

UltimateBob on December 4, 2010 at 1:06 PM

Who will spend the money better, the one who makes it, or govt?

Paul-Cincy on December 4, 2010 at 1:06 PM

Knucklehead on December 4, 2010 at 1:00 PM

Yes, the bill at the $250K level exempted the first $250K from the increase so if you made $500K, only half would be taxed at the higher rate. It was a gimmick to make it more palatable to some Republicans.

There.

cartooner on December 4, 2010 at 1:08 PM

Barry wants $150 billion of new pork in exchange. Because the last “stimulus” worked out so well, right?

Novel idea, increasing the deficit to decrease it. Any business owner or household knows how well that strategy works.

Starve the bureacratic beast, porksters and public sector unions. Barry doesn’t understand the bloodless revolution that’s in progress. The Republicans better “get it.”

obladioblada on December 4, 2010 at 1:11 PM

I’ve put all of my Roth IRA savings into precious metals, and it’s doing better than ever.

UltimateBob on December 4, 2010 at 1:06 PM

If I may be so bold to ask, how much did they hook you on the capital gains tax? I’ve got several friends who are going to do the same thing…………which will be bad news for the stock market.

Knucklehead on December 4, 2010 at 1:13 PM

“Do we want to extend those tax breaks for millionaires and billionaires at a time of huge deficits? I would argue vociferously we shouldnt,” Sen. Chuck Schumer, D-N.Y., said Saturday shortly before scheduled votes.

If they really wanted to tax the “wealthy” this tax increase would cover those making $5 million a year or more.

Also, I’ve seen no hint that they would peg that $250k to inflation, so just like the AMT, it would creep lower and lower, in 2010 dollars. Average incomes increase 50-60% per decade. $100k in 2010 would be roughly equivalent to $250k in 2030.

strictnein on December 4, 2010 at 1:19 PM

I just saw on “Cashin In” on Fox that Great Britain lowered it’s capital gains tax and a large company is moving there. Unfortunately I don’t remember who it was and can’t find a link. Sorry, I’ll keep trying.

Cindy Munford on December 4, 2010 at 1:19 PM

But nonetheless, IMO the real problem is not the actual tax rates, it’s the loopholes. The loopholes are what allow multi-millionaires like Warren Buffet to pay less tax than his secretary (as he famously declared).

UltimateBob on December 4, 2010 at 12:52 PM

Buffet doesn’t take a salary, his earnings are in the form of dividends and capital gains, which are taxed at 15% under the Bush Tax cuts… And to grow the economy, you need capital, and if you let taxes go back up on it, you’ll get LESS of it…

What we really need, and Guliani proposed in 2008, is to cut corporate tax rates down to 25%… That way there would be in incentive for smaller business to leave capital in their businesses until they really need the cash…

phreshone on December 4, 2010 at 1:21 PM

If I may be so bold to ask, how much did they hook you on the capital gains tax? I’ve got several friends who are going to do the same thing…………which will be bad news for the stock market.

Knucklehead on December 4, 2010 at 1:13 PM

I’m not sure. Aren’t Roth IRA accounts tax deferred until you withdraw the money?

UltimateBob on December 4, 2010 at 1:22 PM

UltimateBob on December 4, 2010 at 1:22 PM

There shouldn’t be a tax issue inside your IRA, but the stock market could have a severe sell off…thanks to our dear leaders.

d1carter on December 4, 2010 at 1:28 PM

I’m so confused. Dems want to extend Bush tax cuts for the middle class? HUH? I was told for the past 9 years that there were no tax cuts for the middle class, only tax cuts for gazzilionaires.

angryed on December 4, 2010 at 1:31 PM

Why is it fair to get a tax cut if you are a business owner and you made $249K, but someone who makes $1K more does not deserve it

ConservativePartyNow on December 4, 2010 at 12:43 PM

Because at $250K, you are deemed to be an evil rich person and therefore are worse than Hitler.

angryed on December 4, 2010 at 1:33 PM

True conservatives win another battle without the help of those despicable RINOs.

Primary Brown. Now!

rightistliberal on December 4, 2010 at 1:37 PM

But nonetheless, IMO the real problem is not the actual tax rates, it’s the loopholes. The loopholes are what allow multi-millionaires like Warren Buffet to pay less tax than his secretary (as he famously declared).

UltimateBob on December 4, 2010 at 12:52 PM

Dude, don’t fall into the liberal trap. Warren Buffet does not pay less tax than his secretary. He pays (if he was indeed telling the truth) a lower overall tax rate than the secretary.

So his secretary makes $100K and pays $20K. He makes $100M and pays $19M. His overall rate is lower, but he pays 950 times more in taxes than she does. Yet somehow in the liberal world that’s not fair. But does he get 950 times as much in benefits? Of course not.

angryed on December 4, 2010 at 1:39 PM

Why? No ranting against RINOs in this thread? Where is Honda 65?

rightistliberal on December 4, 2010 at 1:39 PM

Because at $250K, you are deemed to be an evil rich person and therefore are worse than Hitler.

angryed on December 4, 2010 at 1:33 PM

I knew it. Nancy Pelosi, who’s filthy rich, always reminded of someone but I just couldn’t place it. Now I know.

darwin on December 4, 2010 at 1:40 PM

Jim Demint 30 again Win! Epic!

rightistliberal on December 4, 2010 at 1:40 PM

More political posturing from the democrats. Gee, there’s news. Meanwhile, Pelosi says unemployment checks are better for the economy than jobs. Well, lets raise the unemployment rate to 98 percent – that’s 10 times better than 9.8, right?

http://www.examiner.com/conservative-in-spokane/tax-cut-extension-fails-senate

What a bunch of idiots.

jdawg on December 4, 2010 at 1:48 PM

Knucklehead on December 4, 2010 at 1:34 PM

Yep, could be a reason to sell. The uncertainty is killing jobs and investors. I’m staying diversified and praying.

d1carter on December 4, 2010 at 1:49 PM

d1carter on December 4, 2010 at 1:28 PM

I hope not my 401-K can’t stand it!..:)

Dire Straits on December 4, 2010 at 1:50 PM

Gov Huckabee and Geri Willis discussed the politics of extending the Bush tax cuts on FBN’s the Willis Report yesterday.

Huckabee said, “Congress is busy getting nothing done and small businesses are not sure what the cost of doing business is next year. There is a Marriage penalty on Mom and Pop style businesses.”

Seems like Congress should focus on the economy rather than continuing with their political posturing and games.

texasconserv on December 4, 2010 at 2:01 PM

“It is the most astounding theory I have ever seen, raise taxes to create jobs,” said Sen. John Thune of South Dakota.

The ridiculous Democrat assertion that unemployment insurance is the best way to stimulate the economy is definitely a close second.

RadClown on December 4, 2010 at 2:04 PM

RadClown on December 4, 2010 at 12:29 PM

Bammie does not care one whit about the stock market. He doesn’t understand it, he thinks it’s the playground of the evil rich, and he doesn’t consider capital gains as honestly earned.

slickwillie2001 on December 4, 2010 at 2:07 PM

13 more months….

huh?

please don’t cave, please don’t cave, please don’t cave….

cmsinaz on December 4, 2010 at 2:25 PM

paygo, schmaygo….

cmsinaz on December 4, 2010 at 2:28 PM

I am about to make what I feel, personally, is one of the saddest thoughts I have ever come up with. Until the economy improves(and it will), those folks who have been jobless for 3 or more years are going to have to consider other options for a time. Yes, I do mean social programs designed to help people over hard times. Okay, now you can all yell at me.

jeanie on December 4, 2010 at 2:29 PM

I’ve followed the attempt to reverse calling this “voting on tax cuts” to a more accurate, voting to stop a tax increase of existing rates.

Why not go a step further and say, the vote is to halt a return to Clinton’s tax hike?

TugboatPhil on December 4, 2010 at 2:38 PM

I repeat–Run. The. Clock. Out. Obama will sign the Bush Tax Cut Extensions for everyone once the chicken crap hits the fan in January. Republicans can run ads in 2012 showing Obama’s “read my lips” moment.

txhsmom on December 4, 2010 at 2:50 PM

Bammie does not care one whit about the stock market. He doesn’t understand it, he thinks it’s the playground of the evil rich, and he doesn’t consider capital gains as honestly earned.

slickwillie2001 on December 4, 2010 at 2:07 PM

Actually, can you point to single Wall Street economist who recommends that unemployment benefits be cut to improve the economy or stock market? Because I think we’re on the same page- the government needs to help the economy- but I’m not sure that cutting those benefits is anything that corporations or investors want to see happen.

bayam on December 4, 2010 at 3:29 PM

When will the 47% that pay no federal income taxes be considered parasites? When will they pay their fair share? They pay no taxes and apply for tax credits and get a check.

mixplix on December 4, 2010 at 3:58 PM

why the hell is there an ad on this page from boldprogressives.org? I realize it is “ads by google” but seriously there must be a way to control this

maineconservative on December 4, 2010 at 4:05 PM

tax breaks for millionaires and billionaires at a time of huge deficits?

Yeah, all those families making $251,000 year and paying for private school because the LA schools suck – they’re millionaires!!

LASue on December 4, 2010 at 4:22 PM

Knucklehead on December 4, 2010 at 1:00 PM
Yes, the bill at the $250K level exempted the first $250K from the increase so if you made $500K, only half would be taxed at the higher rate. It was a gimmick to make it more palatable to some Republicans.

There.

cartooner on December 4, 2010 at 1:08 PM

Every rate is being increased if it is allowed to expire which results in a significate increase. You will only pay the highest bracket on income above $250k but all the lower brackets are also higher rates which you will also pay.

trs on December 4, 2010 at 4:28 PM

What really gets me about the Dems wanting to raise taxes, is to narrow the debt, and deficit amounts. It was their policies, their spending, their lack of discipline, and idiocy, that has created this monstrosity, yet….it’s being laid at the American peoples feet, to pay for, and fix.

I want an accounting of every Dem rep, and senators taxes, and income. I guarantee they have some very creative accountants working for them. Because we all know, when it comes to paying taxes, it’s our responsibility, not theirs.

capejasmine on December 4, 2010 at 4:36 PM

LASue on December 4, 2010 at 4:22 PM

As Algore said, those who make $250K for four years are millionaires.

Yes…he really said that.

BTW, not only do you have sucky schools, but Algore lives in your ‘hood, now.

kakypat on December 4, 2010 at 4:44 PM

It is astounding that there is a group of people in this country who shamelessly insist that the government has the right to confiscate their money because they are deemed to have too much!

csdeven on December 4, 2010 at 4:47 PM

I can see 2012 from my window, and it’s looking good for America.

tarpon on December 4, 2010 at 4:56 PM

kakypat on December 4, 2010 at 4:44 PM

Oh jeez. Just what we need; another liberal gas bag.

LASue on December 4, 2010 at 4:56 PM

Actually, can you point to single Wall Street economist who recommends that unemployment benefits be cut to improve the economy or stock market? Because I think we’re on the same page- the government needs to help the economy- but I’m not sure that cutting those benefits is anything that corporations or investors want to see happen.

bayam on December 4, 2010 at 3:29 PM

The point is that Republicans are insisting that cuts be made elsewhere in order that the unemployment benefits be extended. It was the Dems who touted Pay-Go, and they have ignored their own rule.

Unemployment benefits do not help the economy as such. The benefits do not inject positive movement in a stalled economy. They simply provide economic relief for the basics to the unemployed.

onlineanalyst on December 4, 2010 at 5:36 PM

What really gets me about the Dems wanting to raise taxes, is to narrow the debt, and deficit amounts. It was their policies, their spending, their lack of discipline, and idiocy, that has created this monstrosity, yet….it’s being laid at the American peoples feet, to pay for, and fix.

capejasmine on December 4, 2010 at 4:36 PM

My suggestion is to return to what we were spending the day JKF was assaainated (adjusting for inflation). I’ll bet Federal Spending was well under 20 % of GDP, maybe 17 or 18 %

Red State State of Mind on December 4, 2010 at 5:40 PM

Stonewall. I don’t care if it means you’ll get 10,000 don’t-vote-for-him PAC ads thrown at you next time around. You are gonna cure the patient by sewing back on his right arm by cutting off his left?

Limerick on December 4, 2010 at 5:58 PM

What’s with the picture of TARP-supporting porkmeister John Thune on this post?

VidOmnia on December 4, 2010 at 6:02 PM

why the hell is there an ad on this page from boldprogressives.org? I realize it is “ads by google” but seriously there must be a way to control this

maineconservative on December 4, 2010 at 4:05 PM

OR, you can Click on it and cost them a little $ each time to do it. I’m seeing an ‘ad’ asking people to sign a petition to Senator Webb (D-VA)urging him to support the DREAM Act. : )
Those petitions can be fun if you get creative with the name you ‘sign’ it with.

Red State State of Mind on December 4, 2010 at 6:39 PM

When you tax businesses who really gets hurt? The middle class of course, the cost of doing business will get passed on.

wheelgun on December 4, 2010 at 7:53 PM

If he wants to play hardball… let him face the taxpaying public in January when the bill lands on his desk and DARE him to veto it.

Murf76 on December 4, 2010 at 12:40 PM

You assume OBlath, Blath wants whats’ GOOD for America!

Try believing OBlath Blath wants to bring America to her knees, “To redistribute the wealth”, “to return her to her rightful owners”, then you can easily believe he will let them expire, question is can America as we know it survive?

What really gets me about the Dems wanting to raise taxes, is to narrow the debt, and deficit amounts. It was their policies, their spending, their lack of discipline, and idiocy, that has created this monstrosity, yet….it’s being laid at the American peoples feet, to pay for, and fix.

capejasmine on December 4, 2010 at 4:36 PM

Dear Mom and dad, I maxed out my credit card and overdrew my checking on booze, drugs, and whores galore for some kids (Union Hacks and lazy ass professional babymakers) I know who don’t have credit cards, jobs or even go to school, so now I cannot even pay the minimum balance on my account anymore! Please send me more money!

dhunter on December 4, 2010 at 8:00 PM

When you tax businesses who really gets hurt? The middle class of course, the cost of doing business will get passed on.

wheelgun on December 4, 2010 at 7:53 PM

I’m a businessman! Tax me. I won’t accept less income. I will raise my prices, cut costs (help included), and thus raise my profits to offset the increased taxes.
So the geniuses that raised my taxes did not hurt or punish me a bit but they did cause the price of goods to increase and unemployment to go up!
Of course then these same geniuses will extend their newest welfare program (unemployment benefits) out to 5 years to buy votes from their lazy slacker base who they will pay or bus to vote for them.

dhunter on December 4, 2010 at 8:06 PM

Now that the political theater has concluded, perhaps a deal will be forthcoming that will at least give small business owners and investors a little more clarity on 2011 and 2012.

Sometimes, I wonder if Ed reads what he writes BEFORE he posts it.

Meanwhile, do not forget that the Democrats have a major problem. They desperatly need to funnel HUNDREDS of BILLIONS to the state government labor unions BEFORE they lose control of the House.

Look for this to become the ‘deal’ under the covers before the year ends. It would not surprise me to find such a bailout tucked into a bill passed as this congress votes and leaves before it is read! In fact, it may well be tucked into some sort of last minute reconcilliation of a tax bill that there is simply no time to read or vote against.

Freddy on December 4, 2010 at 10:10 PM

Failure to renew the benefits could do widespread harm to jobless families and, according to a White House economic report released Thursday, destroy 600,000 jobs over the next year as those families curb spending.

The people making over $250,000 will also curb their spending if Obama & Democrats increase taxes; how many more jobs will be destroyed??

TN Mom on December 4, 2010 at 11:51 PM

John Thune for President!

Khun Joe on December 5, 2010 at 8:49 AM

hopes that the economic recovery was picking up

There never WAS a recovery. Smoke, mirrors and propaganda do not make a recovery.

The socialists are proving time and time again they are addicts, hooked on OPM.

Passing the extension in January will come a little late to stop the sell off coming in ten days. Perhaps they really want the economy to completely crater just before the republicans take over the house.

That strategy won’t work now, but the socialists still refuse to believe what happened in the midterms. In their feeble minds, their crushing defeat was simply about “messaging.”

dogsoldier on December 5, 2010 at 9:51 AM

ALL: can we stop calling them the ‘Bush era tax cuts’ and START calling them the ‘Obama tax hikes’?

That will change the dynamic inside the Beltway, ESPECIALLY at 1600 Pennsylvania Avenue…

Khun Joe on December 5, 2010 at 10:10 AM

I always find it interesting that the Left’s argument to not extend the tax cuts to the “rich” makes it sound like its evil to let rich people keep their own money. Its not like they’re getting something that doesn’t belong to them or that they’re taking it from someone else. Its their own damn money that the effing progressives are wishing to redistribute.
What’s that called again?

Syd B. on December 5, 2010 at 10:54 AM

With all due respect, Sen. Thune, the most ASTOUNDING theory they’ve put forth is that more people on food stamps is the way to stimulate the economy.

However, the tax increases during a depression recession to create jobs is a pretty good runner up.

ace tomato on December 5, 2010 at 2:12 PM