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#1 Senator Tom Harkin: No Deal Is Better Than The Deal Being Negotiated
12-31-2012, 05:58 PM
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Report1212 (357 posts)
Senator Tom Harkin: No Deal Is Better Than The Deal Being Negotiated
Video at the link. GO HARKIN!
There are reports that the White House is preparing to offer a deal that would only end the Bush tax cuts on incomes above $400,000 and while enacting a watered-down estate tax. These measures offer a major tax cut to the rich over what is currently set to take place in 2013.
Senator Tom Harkin (D-IA) took to the floor just now and denounced this sort of deal:
HARKIN: Mr. President, I was disturbed to read in The Washington Post this morning that some kind of agreements are being made here. Somehow that democrats have agreed to raise the level of, from $250,000 to $450,000, and that somehow thereís been an agreement reached that we would keep the estate taxes at the $5 million level, at 35%. Mr. President, this is one Democrat that doesnít agree with that at all.
Again, if weíre going to have some kind of a deal, the deal must be one that really does favor the middle class, the real middle class, those that are making $50,000, $60,000, $70,000 a year. thatís the real middle class in america. As I see this thing developing, quite frankly, as Iíve said before, no deal is better than a bad deal. and this looks like a very bad deal the way this is shaping up.
Read more, watch it: http://boldprogressives.org/senator-...ng-negotiatied
Report1212 (357 posts)
3. It's a tax cut for the rich
If we wait 12 hours the taxes go up on all the rich, and the estate tax is the highest it's been in years.
If we cut their taxes instead, we are effectively giving them a tax cut.
Democrats are giving the rich a tax cut.
Do you think that's right?bobclark86 (113 posts)
8. Just read the AP story on the deal being worked out...
and I pulled a Sprite can out of my desk, a co-worker wrote "fucking republicans" on it and we kicked it down the hall several times.
12-31-2012, 11:08 PM
Hey DUmbasses...nobody is getting a tax cut. The tax rate will remaing the same if the deal goes through except for those making more than $400,000 if single and more than $450,000 if married. Thoe people are having a 4% increase in their tax rates, from 35% to 39%. If the rich were truly getting a tax cut, or anyone else for that matter, their tax rates would have to be lower than what they are currently paying. In fact I'm not rich and my payroll taxes are going up, from 4% to 6%, with the elimination of the payroll tax cut Obama put in place with his stimulus package.
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