Rep. Mike Pence (R-IN) on the GOP's "first move" should they gain the majority in the mid-terms:
"House Republicans' first move in the majority would be to extend tax cuts set to expire at the end of the year, House GOP Conference Chairman Mike Pence (Ind.) suggested Wednesday evening.
Pence, the third-ranking Republican in the House, said that House Republicans would look to extend the tax cuts they helped President George W. Bush pass in 2001 and 2003, which are set to expire at the end of the year. "
Blue Dogs to Rep. Pence: Don't sweat it Mike, we got this:
"Democrats in Congress are poised to play a leading role this month in thwarting their party's effort to raise income tax rates on the wealthy.
Tax cuts enacted in 2001 and 2003 expire at the end of this year. President Barack Obama and Democratic congressional leaders have been eager to extend the breaks for individuals who earn less than $200,000 annually and joint filers who make less than $250,000. Those who earn more would pay higher, pre-2001 rates starting next year.
However, a small but growing number of moderate Democrats are balking at boosting taxes on the rich. Many face electorates that recoil at the mention of any tax increase. Some represent areas that are loaded with wealthier taxpayers. Further, some incumbent senators who don't face voters this fall are reluctant to increase taxes on anyone while the economy remains sluggish.
Without their support, the push to raise rates on the rich probably will fail."
Well, Lord A' mighty, whatever we do, let's not piss off the wealthy taxpayers.
Aw heck! I thought there was some more money out there somewhere!
nope, even John of Orange says it's 2%:
http://www.huffingtonpost.com/2010/08/24/john-boehner-wants-obama-_n_692331.html
the point is that to draw up special legislation to keep giving these guys tax cuts that are still NOT paid for, just like the last 10 years were NOT paid for means we have to borrow $36 billion/year from the Chinese on - what's the phrase? oh yes - our kids' and grand-kids' credit cards.
every from Alan Greenspan to Paul Krugman says let these tax cuts expire just like Tom Delay wrote them.
it makes no economic sense to do otherwise; it's just to satisfy lobbyists promising campaign funds.
I believe that figure has always been 3% instead of 2%, and the difference in lost revenue is staggering considering that percentage difference...
Mike Pence is perhaps the most formidable Republican around. Prominently placed, more eloquent that Cornyn, and imminently more irascible.
I forsee a horrendous bout with him in the future, and our Democratic Party will have no chance in hell to stop him.
it is appalling that lobbyists have countered the economic good sense and recommendations to allow tax cuts to expire for the richest 2%.
LOL, after I submitted that, I thought maybe you had a baseball reference in there that I just didn't catch. ;-)
And that pun was totally unintended.
Oops. Thanks, Shortstuff. Must have had the Astros outfielder on my mind for some reason. What a drag it is getting old.
Thought his name was Mike Pence, Des.....
and you know there are SO MANY super-wealthy people in Indiana, aren't there? Yeah, right.
What there really are in Indiana are a helluva lot of UNEMPLOYED factory workers. A lot of people living in POVERTY. A lot of people who are damned desperate.
Mike Pence is doing them NO favors. But lining his own pockets? You betcha!