The first thing mentioned by Congress after its return from a five-week escape Monday was the Bush tax cuts. Lawmakers will, in about four weeks, be working on campaigning for mid-term elections which is why nobody thinks Congress is going to do anything. Democrats propose repealing the Bush tax cuts for all but those making $250,000 a year or more. Republicans think the Tax cuts by Bush should apply to everyone in the country. That is why they won’t vote for the Democrats plan. This seems like it is about to by a typical Congressional stalemate. We see some selfish decisions being made by House Minority Leader John Boehner. He explained that as long as he still got the tax cut, he’d vote cutting tax breaks on the rich. Source of article – Boehner fuels Bush tax cuts buzz with hint of G.O.P. comprom! ise by Personal Money Store.
Boehner’s Tax cuts by Bush explanation
The Bush tax cuts applying to all working class individuals enacted in 2001 and 2003 expire at the end of the year. The Obama administration wants to extend the Bush tax cuts to everyone but America’s richest people. The economy is so weak that it can’t afford a tax increase. Of course, CNN reports, Republicans and a few Democrats oppose the idea. Republicans have confronted a filibuster unless the tax cuts are extended to all–which would essentially allow them to expire for all. Democrats have accused Republicans of holding middle class tax breaks hostage in order to get tax breaks for the rich. Everybody was interested to hear that Boehner was thinking about compromising on the Bush tax cuts.
Democrats starting to follow Republicans
Many Democrats who are worried about where the mid-term elections will put them, have started thinking about switching to extend Bush tax credits another couple of years, which is why Boehner dropping his bomb was so surprising. A temporary extension of tax cuts for the rich are suggested by at least 6 Democratic senators and Senate candidates, says the Washington Post. The House positions are getting filled. They are being filled increasingly more by incumbents. An additional idea being suggested is raising tax cut thresholds to $1 million per household in case that person lives somewhere more expensive within the country.
Power, not middle class, is what Boehner looks for
When Boehner made his comment on the Bush tax cuts issue, Democrats seemed to boast. However, the Christian Science Monitor suggests that Boehner might simply be preparing for his ascension to Speaker of the House should Republicans gain control of the government following the mid-term elections. The Monitor said that as opposed to the opposition leader, the speaker is actually responsible for getting bills passed. By suggesting he may be willing to compromise, Boehner could set up a tax-cut deal he could take credit for. Plus, if a tax bill gets passed in the short time that remains ahead of the mid-term election, Republicans could say it offers proof they are better than Democrats at getting results. Whether or not Boehner has the good of the middle class in mind with his strategy, the Monitor did not say.
Discover more information on this subject
CNN
cnn.com/2010/POLITICS/09/12/tax.cuts/index.html?npt=NP1
Washington Post
washingtonpost.com/wp-dyn/content/article/2010/09/12/AR2010091204308_2.html?wpisrc=nl_headline and sid=ST2010091204277
Christian Science Monitor
csmonitor.com/USA/Politics/The-Vote/2010/0913/Why-did-John-Boehner-change-his-mind-now-on-Bush-tax-cuts
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