The Bush tax cuts sat towards the top of the agenda as Congress came back from a five-week trip Monday. 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. Repealing the Tax cuts by Bush is the recommendation Democrats have made. This would be excluding any person who makes $250,000 a year or more. Republicans have made it clear that they will not be voting for the Bush tax cuts unless it applies to every person. A typical Congressional stalemate is what looks to be happening. 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 hin! t of G.O.P. compromise by Personal Money Store.
Boehner’s Tax cuts by Bush explanation
Bush tax cuts started in 2001 and 2003 to be applied to all taxpayers and are to expire this year. The Obama administration would like to extend the Tax cuts by Bush. This comes with the exception of giving it to the wealthy. The economy is so weak that it can’t afford a tax increase. Of course, CNN reports, Republicans and a couple of Democrats oppose the idea. Tax cuts will end if the Republicans do a filibuster. They will do this if the tax credits aren’t extended to all. Democrats say the middle class tax breaks are getting used just to get breaks for the rich with the Republicans. Every person was interested to hear that Boehner was thinking about compromising on the Bush tax cuts.
Democrats starting to follow Republicans
Everybody was amazed that Boehner dropped the bomb as he did. This is because so many Democrats fearful of the mid-term elections were already thinking about switching their vote for making Tax cuts by Bush last when the economy gets better. The Washington Post reports that half a dozen Democratic senators and Senate candidates have suggests such a temporary extension of tax cuts for the rich. You will find increasingly more incumbents taking the House positions. One more idea being suggested is raising tax break thresholds to $1 million per household in case that person lives somewhere more costly in the country.
Boehner is not looking for middle class, just power
When Boehner made his comment on the Bush tax cuts issue, Democrats seemed to boast. There is a possibility the Republicans will start to control the house after mid-term elections. This is why Christian Science Monitor suggests that Boehner might be just trying to get the position as Speaker of the House. The Monitor said that in contrast 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.
Additional reading
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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