President Obama late Monday night announced a “bipartisan” agreement that would extend a series of Bush-era tax cuts another two years in exchange for 13 additional months of extended unemployment insurance for some of the jobless.
The proposed compromise comes after a several-month stalemate by Republicans refusing to extend jobless benefits for millions of unemployed Americans because they claimed the country could not afford it. The same Congressional members had no problem demanding an extension of Bush-era tax cuts for the wealthy which would add an additional $65 billion to the federal budget deficit each year. The tax cuts are scheduled to expire December 31st.
While stating that he’d prefer to let the tax cuts expire for the wealthy but continue for the middle class only, President Obama said he was unwilling to let working families become “collateral damage for political warfare” in Washington.
The deal includes a two-percent payroll tax credit for employees and tax breaks for families and students. It allows businesses to write off purchases of outdated equipment. And, it also includes a two-year estate tax set at 35 percent.
Wed. December 22, 2010
To David-in the past you where correct,the rich would create kobs and would continue what Henry Ford established in producing jobs that paid well enough that a worker could purchash the product that he produces therefore creating more demand for the plant to produce.The reality of today is the rich want to get richer.Do you think a Toyota worker in San Antonio getting $12/hr can afford that Tundra he is making?I have been on the border-when Delphi moved into Mexico they INCREASED the pay to magement that moved there from Detriot and paid the workers a fraction of what they used to get.I pay my 30% in taxes-yet a millionare pays 1%-thats fair? Give them tax breaks so they can out source more jobs?So they can demonize the unions and their workers as the cause of all their problems yet increase their own pay.Look at GM.Did you forget that with the company loosing millions the ceo\'s all got bonuses -the dealer raise their billing flat rate and the manufactures cut the flatSun. December 19, 2010
Yes my Brothers & Sisters, we all have a voice. I do not understand the BI- Partisan BS. You do or you do not wish for America to out Perform in all expectations. I expect to have a good Paying JOB available for me my Family and Fellow citizens of this United States of America. My voice and your voice with participation of all can only enhance Our EXPECTATIONS.Sat. December 11, 2010
As far as jobs moving to Mexico, go ask W K Clinton. He was the pusher for NAFTA. Go look it up...Tue. December 07, 2010
As usual our National Union Leadership decides to play politics instead of representing the working men and women of this country. They say the Millionares got their tax cuts. Maybe they don\'t realize who creates the jobs in this country. But then maybe they don\'t care about job creation. I fail to see how penalizing the job creaters will create jobs. I also fail to see how condemning future generations of American workers to being Economic Slaves by putting them further and further into debt is very good represention of their best interests. How are we supposed to Organize when people see this stuppidity. Too bad we can\'t have fair and honest elections for National Union Leadership. If it was up to the people in my neck of the woods I know some that would be joining the ranks of the Unemployed they want to extend benefits for.Tue. December 07, 2010
The millionaires and billionaires get their tax breaks and those like us who have been unemployed over 99 weeks through no fault of our own ( my job was moved to Mexico and I am 64 years old) get the shaft.