Tax cut extensions fall short in Senate

[TomCADem]

Source: Washington Post

Two Senate bills that would have extended the Bush-era tax cuts for all but the wealthiest earners failed to reach the Senate floor in a rare Saturday morning session, a mostly symbolic exercise that underscores concerns about the weak economy.

The first measure, which was proposed by Senate Finance Committee Chairman Max Baucus (D-Mont.) and would have extended the Bush-era tax cuts for income of $250,000 or less for families and $200,000 for individuals, failed by a 53 to 36 vote. Four Democrats -- Sens. Russ Feingold (Wis.), Joe Manchin (W.Va.), Ben Nelson (Neb.) and Jim Webb (Va.) -- as well as Sen. Joe Lieberman (I-Conn.) joined Republicans in opposing the bill.

The second measure, which was sponsored by Sen. Charles Schumer (D-N.Y.) and would have extended the cuts for income under $1 million for families, failed by a 53 to 37 vote. Feingold and Lieberman opposed the measure, as did Democratic Sens. Dick Durbin (Ill.), Tom Harkin (Iowa) and Jay Rockefeller (W.Va.).

Ten Republican senators were not present for the votes; Sen. George Voinovich (R-Ohio) did not vote on the first measure but voted against the second.


Read more: http://voices.washingtonpost.com/44/2010/12/tax-cut-extensions-fall-short.html?wprss=44%3f

---

Here is a nice article that actually states who is voting for and against the expiration of tax cuts to the rich. I know it is tough to resist the general media narrative blaming Democrats and giving Republicans a free pass, but notice that almost all of the Democrats voted in favor of expiration whereas all Republicans voted against it. Likewise, President Obama has repeatedly push for expiration. Finally, the Republicans not the Democrats are holding the middle class hostage and threatening to let everyones taxes increase in the midst of a recession.

So, will we give the Republicans a free pass and accept the corporate media narrative that tries to dismiss these votes as "symbolic." Will we buy into the media narrative that only discusses the deficit with respect to unemployment benefits, but not with respect to tax cuts? Will be lulled into blaming Democrats, but giving Republicans a free pass notwithstanding the roll call and their actual votes?

[AndyTiedye]

1. Feingold's Vote is a Bit of a Mystery

[MineralMan]

2. Not really. He's a fiscal conservative.

It's not a surprise to me.

What's a surprise is that people are touting him as a potential challenger to President Obama in 2012. That's puzzling to me. It is.

[TomCADem]

5. Feingold Teamed With McCain To Push The Line Item Veto - Still He Is Very Liberal...

... and I see nothing wrong with being liberal and fiscally resposible, though I was never a fan of the line item veto.

[MineralMan]

7. He's very liberal in some areas, but he also engages in

bipartisanship, too. I suspect that many would find him to be a problem in those areas where he has no problem cooperating with conservatives.

In any case, it's a moot point.

[Skittles]

10. ???

a "fiscal conservative"? WHAT THE FUCK IS THAT, EXACTLY???

[jmowreader]

11. It is what we are, and the Republicans are not

No self-respecting fiscal conservative would have ever considered the Bush-era tax cuts. What we would have done is to take the Clinton surplus, run the deficit down to zero and transfer the excess funds toward paying down the national debt. (Given that, a certain level of national debt is healthy, in that national debt in the form of government bonds is, or at least WAS until 2001, the safest way for the public to invest.) We would have also worked on new kind of business to help keep the economy strong when the American people figured out e-commerce, rather than being The Form Of Commerce That Kills Stores Once And For All, is nothing more than catalog shopping. We also would have never proposed, nor would we have signed, the Commodity Futures Modernization Act or the Gramm-Leach-Bliley Act on the well-proven grounds that not keeping banks on a very, very short regulatory leash always leads to them crashing the economy. We would have stepped in quickly to outlaw complex derivatives (namely CDOs) and synthetic derivatives before they were able to kill the economy, and we would have made sure any bank that was playing in structured finance held a portion--20 percent would be good--of every securitized mortgage, so as to discourage the mortgage originators from writing NINJA loans.

And most importantly, we would have made damn good and sure people weren't building million dollar spec homes in Kootenai County, Idaho.

[Skittles]

12. CORRECT

OMG I cannot stand that "fiscal conservative" being labeled (for the most part) on the party of senseless wars and tax cuts for the obscenely wealthy - WTF!!!!!

[pezDispenser]

16. something this country has only heard about, but never seen n/t

[julian09]

4. Jim Webb can not be counted on.

He votes with the homophobes and bluedogs to much for my likeing
he should go back to his republican roots and run as such. Joe Leiberman will be gone
in 2012. Would rather see Nebraska go Republican than have Nelson win.

[Gore1FL]

14. Not really

All of the tax cuts should expire. They were stupid when Bush presented them. They are no better now.

[DesertFlower]

3. the bastards won't give in -- not even

for those making 1 million. they won't extend unemployment unless it's paid for. these tax cuts will just run up the deficit.

[julian09]

6. Then they can blame Obama for bigger deficit

The repugs will attack all the New Deal and progressive
wins of the last seventy years,
to keep those tax cuts.

They have all the low information voters fooled.

[AlbertCat]

18. Then they can blame Obama for bigger deficit

They will anyway. It doesn't matter.

It would be better to just let all the tax cuts expire than to give in.

Then they can write all new middle class tax cuts and the world can watch the GOP vote against them too.

[proud patriot]

8. We need to swamp their offices with phone calls faxes emails etc

[LaPera]

9. Very sad!

[Gore1FL]

13. Good. I stand with Feingold.

They need keep this up they all of of them will expire. Then, finally, we will be on the road towards sensible tax policy again.

[savalez]

15. To answer your question. No, I will not.

Good post TomCaDem. It should be a mass email.

[Hulk]

17. HOLD OUT!! I'll do without mine, if the wealthy don't get theirs.

This is absurd. Let the repukkkes be known as the party that prevented 98% of the middle class and below a tax cut. DON'T GIVE IN TO THE REPUKKKE'S BLACKMAIL!!