GOP fighting tooth and nail for the rich...

WASHINGTON ? The White House and Republican lawmakers set the terms of a looming tax debate Sunday, coalescing around a possible temporary extension of existing income tax rates that would protect middle-class and wealthy Americans from sharp tax increases next year.

Top White House adviser David Axelrod stressed that President Barack Obama opposes a "permanent" extension of current tax rates for individuals making more than $200,000 a year and married couples making more than $250,000.

But Axelrod was carefully silent on the possibility of extending current tax rates for the short term. He said he wants to leave negotiations to Obama and members of Congress.

A compromise would put off fundamental questions about taxes for the time being, virtually guaranteeing their prominence as campaign issues heading into the 2012 presidential election. That debate also would dovetail with a more profound discussion over how to rein in deficits and reduce the nation's escalating debt.

Congress returns this week with Democrats in control of the House and Senate for a lame-duck session that is expected to stretch into December. But Republican votes are essential and the GOP has additional leverage because it will begin the new year with Republicans in charge of the House and with more members in the Senate.

Two prominent Republicans conceded Sunday that the best Congress might be able to accomplish in the coming weeks is a short term-continuation of the current tax rates, set under President George W. Bush.

"If the president wants to compromise on a two- or three-year extension ... if that's all we can get out of the president, ane he is the president, so we'll work with him on that," said Sen. Jim DeMint, a South Carolina Republican and a leader of his party's conservative wing.

Likewise, Sen. John McCain of Arizona, the Republican presidential contender in 2008, said he could fathom a short-term extension of all the tax cuts. McCain voted against the Bush tax cuts in 2004, saying they disproportionately benefited wealthy Americans.

"They should be extended until we are out of this recession," McCain said. "At such time we can look at other tax hikes. But when we're in a serious recession I cannot believe that raising taxes is a good thing on anybody."

In fact, the recession ended in June 2009, but the recovery has been markedly slow, with unemployment stuck at 9.6 percent.

Some Democrats have called for taxes to be extended for all taxpayers except those making more than $1 million. Sen. Chuck Schumer, D-N.Y., argued that such a limit would ensure that tax rates would remain the same for the middle-class and "virtually all small businesses."

Schumer said millionaires and billionaires have seen their incomes rise this decade while middle-class incomes have fallen.

Axelrod appeared on "Fox News Sunday" and NBC's "Meet the Press." McCain appeared on NBC and DeMint on Fox. Schumer spoke on CBS' "Face the Nation."

White House, GOP look for middle ground on taxes - Yahoo! News

So it's wrong for people to be rich and successful now? They have to be punished with higher taxes for making something good for themselves?

Uh what? What are you talking about? We can't afford to extend tax breaks to a group of people who already have enough has it is and are doing just fine. The only cuts that need to be extended are those for the middle class, who the Dems are fighting for.

Btw, don't assume that these people worked "oh so hard" for what they have.

it needs to be spread out to the illegals and the leeches on our society that dont work, wont work, draw disability for being alcoholics and having 45 kids.

but in all seriousness I really dont see why a billionaire needs a tax break.

Read it and weep. The graph below tells you exactly what the Dems plan vs the GOP plan would be. The source material came from another Washington Post article: GOP plan to extend tax cuts for rich adds $36 billion to deficit, panel finds, and the source material for that article came from the non-partisan Joint Committee on Taxation.

If people can read the below graph and tell me that there isn't SOME room for the GOP plan to come closer to the Dem plan in terms of tax cuts for the richest among us (that huge bubble on the bottom-right showing what GOP cuts would do for those making %1,000,000+/year), then you either a) don't know math, b) don't know economics, c) are just a shill for the right.

http://i20.photobucket.com/albums/b2...xCutsGraph.gif

Why not just a flat % per income that everyone is taxed no matter what you make. Seems too simple to me, and then work with what you got.

Of course the reality is according to that website, shows that the best thing for the deficit would be to let them expire and tax rates go up for everyone. If that happens, Obama becomes George H.W. Bush.

Looks good on paper, but in reality it favors the wealthy. They can't be extended for the wealthy, they shouldn't be either, but its jus not feasable.

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Originally Posted by Milk3

So it's wrong for people to be rich and successful now? They have to be punished with higher taxes for making something good for themselves?

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Rich is OK- ever heard of a poor man giving anybody a job?:D But the fact still remains the USA needs to pay down debt. Taxes should have never been cut , people were used to those rates. We spend too much in places other than the US- that would be a good starting place to cut any amount that we can. And I'll bet before the end of my lifetime, some brain figures out , if we give illegals citizenship and make them pay taxes and SS it will fund most of what we need.

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Originally Posted by R13

who the Dems are fighting for.

Btw, don't assume that these people worked "oh so hard" for what they have.

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The middle class obviously doesn't believe that.... remember that election 2 weeks ago?
And where did I say they worked hard for it? I didn't but they obviously did something to get what they got why punish them? So we can " Spread the wealth" like Obama wants to ?

Quote:

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Originally Posted by Milk3

The middle class obviously doesn't believe that.... remember that election 2 weeks ago?
And where did I say they worked hard for it? I didn't but they obviously did something to get what they got why punish them? So we can " Spread the wealth" like Obama wants to ?

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That's because they're too stupid to see that they likely got a tax cut thanks for Obama, an election based a knee-jerk reaction to GOP lies and not a look at who's really fighting for who. Taxes aren't being "punished", they're you paying your fair share, letting tax cuts expire for a group that doesn't need them and that would be way to costly to do isn't punishing anyone.