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December 7, 2010
About that "Obama-McConnell" tax deal
Topics: Political News and commentariesProvided the Dems don't shoot themselves in the foot by axing the deal that's currently in place, we finally know what will happen to the expiring Bush tax cuts -- they won't expire for another two years ... the Bush tax rates become the Obama tax rates for 2011 and 2012 ... for everyone, not just families making less than $250,000. Under the compromise, the Republicans will agree to extend unemployment benefits for another 13 months and won't demand that the $60 billion cost be offset by a cut in federal spending.
Carla Fried has the details on the other features of the compromise ... such as the one-year cut in the payroll tax, a break in the estate tax, and a "patch" for the Alternative Minimum Tax (AMT) - and what they mean for you.
Meanwhile, following what J. E. Dyer calls the "most partisan ever seen from an American chief executive" (more like a leftist community organizer) and what Jennifer Rubin refers to as the "worst press conference - ever" (and she doesn't mean just for Obama - she means for any president): Rep. Paul Ryan (R., Wis.) tells NRO he likes the deal ... Daniel Foster has a (way) early whip count on what the Lefties are calling the "Obama-McConnell" tax deal ... and 'thin-skinned' Obama is lashing out at his base and saying he's "itching for a fight" with the GOP (he even blasted Republicans as "hostage takers" who considered tax cuts for the wealthy their "Holy Grail.").
Related: He Has Met the Enemy, and They Are Him (Obama has mastered the ability to look both unprincipled and graceless at the same time.)
Posted by Richard at December 7, 2010 3:52 PM
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- About that "Obama-McConnell" tax deal - Dec 07, 2010
