Bush tax cuts to be extended?

Is the White House caving?  According to Fox News sure seems that way…

(David) Axelrod, who confirmed to Fox News comments he made to The Huffington Post, suggested that the administration is ready to accept an across-the-board continuation of current tax ates, marking a turnaround from the White House’s pre-midterm election stance on impending tax increases.

Read the article here.

Republicans made a pledge to stop all the tax hikes scheduled for Jan 1,  2011.  It would appear that with this move from the White House, they are keeping to their promise, even it is temporary.

Is this an olive branch being extended from the Democrats?

Will the Republicans play ball?

Should they?

13 Replies to “Bush tax cuts to be extended?”

  1. mo joe

    Get rid of the pay roll tax we can get by with out anything.I can take care of myself get rid of all programs ss welfare, medicare fire dept police sheriff, water and sewage. farm programs govt pensions post office, senators and congress people.bring milatary home and disband it.Close the V.A as they turn veterans who served in the milatary they call them priority 8 veterans,If you send a veteran to war you own him.

  2. Duh

    That's good. NOW they need to pay attention to the federal death taxes.

    The GOP should not "play ball" with the administration. The GOP should be listening to what the voters said. Period. Until the midterms, through the mouthpiece of the Administration, we were the "enemy" and should "sit in the back" of the proverbial economic car in the ditch. Disavow any compromise? NO. But it better be a hell of a lot closer to what the voters want.

    This was no different than a spouse who repeatedly abused you until you get dirt on that spouse. Now, they are all lovey dovey. That's crap. They reaped what they sowed and now it's time to get taken to the woodshed.

  3. I would rather be fi

    Just think of the total budget mess that guy obama got us into!

    "Calculations by the nonpartisan Congressional Budget Office and other independent fiscal experts show that the Medicare prescription program, which President Obama and the Democrat-controlled Congress adopted, by itself would add more to the deficit than the combined costs of the bailout, the stimulus and the health care law! Add ALL of that together and that guy Obama took us poor taxpayers to the cleaners!

    Cut taxes today and stop the Democrats from all that spending!

  4. Bill Fleming

    How about it, Troy? Yea or Nay? What if they made the tax cuts on the top 2% (aka "rich") contingent on job creation, bank lending thresholds, etc? Invest that capital and tax reduction in the REAL American market and you can keep it. Don't and it's gone in a year (okay, maybe 2)? Just a thought.

  5. John

    This is what's frustrated me about the last two years. It seems like President Obama and the Dems are will to give a little and compromise but you never see anything similar from Republicans. Instead Republicans say "That's a good start, but you still need to move further our way on every issue." Why didn't Republican ever extend any olive branches to the Dems?

  6. Troy Jones

    Bill,

    What's up with all this statist social engineering? Oh, I forgot. Class warfare.

    Then you will have to work through what qualifies and that cost. Next year, it will be a loophole liberals will be clamoring to close.

    We need jobs and the issue is national competitiveness. Not only does the US have the highest corporate tax rate in the world, because most of our companies are organized as S-Corps. and LLC's, business income flows thru to the personal return which makes our top rate an effective corporate tax rate.

    Frankly, I'm getting tired of this we need to soak the rich regardless of how it affects the poor. People need jobs and that depends on their employers making a profit they can keep in exchange for the risks.

    If people really cared about the poor, they'd be less willing to target the employers. But, what the heck. If we can pretend to care about the poor and say egalitarian things, who cares about what we really do for the poor.

  7. Duh

    John: The GOP was never put into a position of even being able to extend an olive branch. They were in minority in all three branches. SHS "My party runs everything in Washington." Remember, we're the enemies and had to ride in the back. How many deals were struck with Pelosi behind closed doors without GOP involvement? The GOP was either kept in the dark or excluded on a continous basis. Virtually every bill was thrust into a vote without discussion. Remember Pelosi on the Oblablacare "Vote for the bill then see what's in it."

  8. Bill Fleming

    Troy, oh, I don't know. I just figured that since the middle class taxpayers bailed all those bad boys out, they might want to consider returning the favor.

  9. Troy Jones

    I have a plan for them. Real financial reg reform. Currently they are a protected class and this needs to change.

    1) Repeal Gramm-Leach.

    2) Limit access to the Fed window to only commercial banks requiring unregulated lenders to access the private commercial paper market.

    3) Limit holdings by banks of government securities based on how loaned up they are. (I haven't thought this out totally. Might only apply to the largest banks)

  10. Les

    Very good Troy, Gramm appears to be the cornerstone of corruption, including his wife. Please explain why Clinton signed off on that?

    The large institutions and the gov are so deeply entwined Troy, is there hope?

    The fed working through the largest(JP Morgan) controls the metals markets. No margin calls they can't meet with the Fed backing them.

    The Creature From Jekyll Island no longer bothers to hide the presence of it's birth place, now the war room of monetary control.

    There will never be successful legislation controlling the Fed. Their unlimited dollars will make sure of that.

  11. donkephant

    Duh at 3:01 pm-

    What you're talking about sounds a lot like how South Dakota has been operating for the last 30some years under one party rule. I would venture to guess that you don't have a problem with it here. Must only disagree with it when your party isn't the one striking deals behind closed doors..

    Washington has problems, (or is "broke" as your grammatically incorrect Congresswoman-elect likes to say) but polarizing it even further, as this election did, is the last thing that Americans want or need.