Tax cuts smackdown!
Sunday, September 12, 2010
While Representatives and Senators have been out on recess working in their home districts this month, the battle over the extension, or not, of Dubya's tax cuts has been fought mostly in the media.
It's been a give and take struggle, much of it choreographed a la professional wrestling.
Much of the fighting has been among Democrats. No surprise there.
The party in charge (for now) is divided over just how much of the tax cuts to continue.
And the rift isn't confined to the legislative branch.
The White House was blindsided when its former budget director Peter Orszag announced via his first New York Times column that he was for keeping, at least temporarily, all the current tax cuts, even for the richest Americans.
Then the Congressional momentum shifted to extending all the cuts at all individual income levels when a key Senate Democrat voiced support for that approach.
The prez offered an olive branch of sorts, pushing for extension and expansion of business tax breaks.
Some pundits and politicians tossed the idea of a payroll tax cut into the mix. The White House was not impressed.
The V word, veto, was even bandied about. But Obama stopped just short of saying he would nix any bill that continued lower tax rates for high-income individuals.
GOP tax fracture? Republicans, who've always been better than the disorganized Democrats at presenting a consistent message, kept the push on during the Congressional break for all tax cuts for all taxpayers.
But now, it looks like there might be a small fracture in the GOP, and from one of the top guys no less.
This morning on CBS' Face the Nation, House Minority Leader John Boehner (R-Ohio) said that while he wants the tax cuts extended to all, if Obama and Congressional Democrats push through their plan, the Republican leader would vote for it.
"If the only option I have is to vote for those at $250,000 and below, of course I'm going to do that," Boehner said.
Is the battle over the current Bush tax cuts over? Not by a long shot.
But maybe, with election day nearing, some lawmakers are starting to do some serious weighing of what their tax action or inaction might mean on Nov. 2.
- Obama tax reform panel report released
- Tax cuts or total tax reform?
- 'Uncle' Alan Greenspan's latest on taxes
- Debunking 5 Bush tax cut myths
- Is it time for tax reform?
- 2010's expiring tax cuts likely to be dealt with
by a lameduck Congress
- The ever-growing tax code
- Tax overhaul, over and out ... for now
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Looking forward to real debate on the subject.
Thank You for sharing!
Posted by: Daniel Stoica | Monday, September 13, 2010 at 10:13 AM