Bush tax cuts

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Democrats: Fine, We'll Pass Your Crummy Tax Deal

Bill to see vote this week, says House majority leader

(Newser) - Democrats haven't stopped complaining about President Obama’s tax cut deal—one House member even called it Obama's "Gettysburg"—but it looks like they’ll pass it anyway, Time reports. “We're not going to hold this thing up at the end of the day,” said Chris...

Chance of Double-Dip Recession in 2011 Falls to 15%
Chance of Double-Dip Recession in 2011 Falls to 15%
economists predict
Dec 13, 2010 8:25 AM CST

Chance of Double-Dip Recession in 2011 Falls to 15%

GDP will grow 3%, they estimate

(Newser) - The Bush tax cut deal has some economists walking on sunshine. Experts are getting more upbeat in their forecasts for next year, predicting accelerating growth, finds the Wall Street Journal in its latest forecasting survey. The 55 experts who weighed in expect GDP to grow in “nearly every period,...

The Unique (and Growing) Role of Joe Biden

VP fights for White House in Congress, abroad

(Newser) - If it seems like Joe Biden was just waxing poetic about “the first mainstream" black guy who's "bright and clean," then you probably won't recognize the fierce veep who defended the boss last week, shouting at whining Dems, "There's no goddamned way I'm going to stand...

Inside Bernie Sanders' Epic 8.5-Hour Speech

Senator was 'nervous,' feared nature would call

(Newser) - Sen. Bernie Sanders was “a little bit nervous” before his over-the-top 8 1/2-hour speech against President Obama's tax deal on Friday. “I was afraid that after two or three hours I’d have nothing more to say or I’d be tired or have to go to the...

Bernie Sanders Ends Tax Speech—After 8.5 Hours

Vermont independent stages a filibuster of sorts in protest

(Newser) - Bernie Sanders took to the Senate floor about 10:30am today to speak out against the tax-cut deal—and kept on going until about 7pm. All told, the 69-year-old spoke for 8 hours and 37 minutes, notes the Huffington Post . "You can call what I am doing today whatever...

Bill Clinton Gives His Blessing to Obama's Tax Deal

... And he seemed to enjoy his place back at the podium

(Newser) - President Obama got a strong show of support for his tax deal today from Bill Clinton, a move that could help sway recalcitrant Democrats, reports the Washington Post . The two men had a private meeting, then emerged to meet the press in an unusual way: Obama turned over the podium...

Tax Deal Offers GOP 'Hostages' for 2012
Tax Deal Offers GOP 'Hostages' for 2012
paul krugman
Dec 10, 2010 12:10 PM CST

Tax Deal Offers GOP 'Hostages' for 2012

Krugman: Democrats will need to make more deals in election year

(Newser) - President Obama may have rescued some tax “hostages” from the GOP—the unemployed, for example—but in the process, he set up another hostage situation down the road, writes Paul Krugman in the New York Times . The "not-so-bad stuff” in the tax deal “expires at the end...

Democrats Too Dumb to Realize Obama Won Tax Deal
Democrats Too Dumb to Realize Obama Won Tax Deal
Charles Krauthammer
Dec 10, 2010 11:29 AM CST

Democrats Too Dumb to Realize Obama Won Tax Deal

Krauthammer: GOP gave him his stimulus, and looked bad doing it

(Newser) - Barack Obama pulled off a huge coup with his tax-cut deal, but House Democrats are too dim to realize it. Obama slyly negotiated “the biggest stimulus in American history,” complains Charles Krauthammer in the Washington Post . Republicans boast that this is their kind of stimulus—meaning mostly tax...

Senate Begins Debate on $858B Tax Cut Bill

Deems House objections 'irrelevant'

(Newser) - The Senate voted to begin debate on a bill based on Barack Obama’s tax cut deal last night, with the final vote expected to be held Monday. The Senate’s version of the bill will add $858 billion to the deficit over 10 years, the Wall Street Journal reports....

House Democrats Reject Tax Plan, Want Changes

Caucus sends a signal to the White House

(Newser) - House Democrats voted today to reject President Obama's tax deal with Republicans in its current form, but it was unclear how significantly the package might need to be changed. By voice vote in a closed caucus meeting, Democrats passed a resolution saying the tax package should not come to the...

Senate Democrats Warm to Obama's Tax Deal

But Biden makes little progress in the House

(Newser) - Democrats are coming around on the tax cut deal President Obama struck with Republicans—at least in the Senate. Yesterday, the White House was showing off independent forecasts predicting that the concessions Obama won in the deal could create up to 2.2 million jobs, the Washington Post reports. “...

Biden Tries to Quell Democrat Rebellion in House

House Democrats band together to decry deal

(Newser) - Joe Biden will head to Capitol Hill today in an attempt to win over Democrats furious about President Obama’s deal on the Bush tax cuts. Democratic lawmakers discovered a shocking level of consensus when they huddled to discuss the deal yesterday, the Huffington Post reports: Every last speaker agreed...

Obama's Tax Deal Really a 'Stealth Stimulus'

But it'll only work if consumers will spend the money

(Newser) - The tax cut deal President Obama struck with Republicans is likely to give a real jolt to the economy, economists tell the Wall Street Journal , which calls the deal “a second, stealth stimulus package.” While the tax cuts themselves may not boost growth much, the extension of unemployment...

Surprise! Taxes Will Actually Go Up for the Poor

But for the rich, it's a great deal

(Newser) - This tax cut deal President Obama struck with Republicans is awesome—as long as you’re among the wealthiest Americans. At least a quarter of the tax savings will go to the top 1%, the New York Times points out, in a piece headlined “Tax Package Will Aid Nearly...

Stewart on Tax Deal: Like Trying to Lose Weight With Bacon Diet

'Lower taxes and more spending' makes no sense

(Newser) - When Jon Stewart heard that a tax cut deal had been struck , he wondered, "Which side won? Lower taxes and less spending, or higher taxes and more spending?" Not surprisingly, he was baffled to discover that "the winner is ... lower taxes and more spending! Wait, that wasn't an...

Obama Defends Tax Deal as Necessary for Middle Class
Defiant Obama Defends
His Tax Deal
Dec 7, 2010 1:46 PM CST

Defiant Obama Defends His Tax Deal

This is about 'real money for real people'

(Newser) - With his tax-cut compromise catching heavy flak from within his own party, President Obama today sought to make the case that he had no choice. "My job is to do what's right for the American people," he said at an afternoon news conference. He stressed that "middle-class...

Why Obama Struck His Tax Cut Bargain
Why Obama Struck
His Tax Cut Bargain
Opinion Roundup
Dec 7, 2010 10:19 AM CST

Why Obama Struck His Tax Cut Bargain

He wanted more stimulus, and this is the best he could get

(Newser) - Barack Obama's decision to extend the Bush tax cuts has got pundits talking and liberals frothing. Here's what they're saying:
  • This might look like a “classic Washington giveaway,” but “at the White House, where there is much anxiety about the staggering performance of the economy, this is
...

So What Exactly Is in the Tax Deal?

Republicans, Obama agree to payroll tax holiday, middle class breaks

(Newser) - The tax cut deal President Obama struck with Republicans yesterday is far more sweeping than lawmakers on either side of the aisle were expecting, and aside from extending the Bush tax cuts across the board, here's the lowdown, as per the Washington Post:
  • Inheritance tax: After a year's lapse, individual
...

Obama, GOP Cut Deal, Extend All Tax Cuts
Obama, GOP Cut Deal,
Extend All Tax Cuts
UPDATED
Dec 6, 2010 6:18 PM CST

Obama, GOP Cut Deal, Extend All Tax Cuts

President tacks on jobless benefits, 1-year Social Security tax reduction

(Newser) - Brushing past Democratic opposition, President Obama tonight announced agreement with Republicans to extend expiring tax cuts for all Americans, renew jobless benefits, and grant a one-year reduction in Social Security taxes for millions. The agreement also includes tax breaks for businesses that the president said would contribute to the economy's...

Obama Signals Compromise on Bush Tax Cuts

President looks ready to extend all in order to spare middle class

(Newser) - Faced with the prospect of no deal on the Bush tax cuts resulting in a middle-class tax hike on Jan. 1, President Obama is signaling a willingness to extend them across the board, reports USA Today. "We've got to find consensus here even if it's not 100% of what...

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