The Middle Class Tax Relief Act of 2010

[babsbunny]

http://www.speaker.gov/newsroom/legislation?id=0411

On December 2nd, the House passed the Middle Class Tax Relief Act of 2010 (HR 6467) to extend middle-class tax cuts by a vote of 234-188. These tax cuts are expiring at the end of this year because when Republicans passed them 10 years ago, they sunsetted them to hide their true cost to the deficit. The bill today cuts taxes for 97% of American families and small businesses (saving about $1,000 per year for a typical middle-class family each year):

For all families making less than $250,000 a year, the bill permanently extends the 2001/2003 tax cuts, including current tax rates, marriage penalty relief (including EITC), capital gains and dividends rates, and $1,000 child tax credit (for earnings above $3,000). The bill also protects more than 25 million taxpayers from the alternative minimum tax by extending the AMT patch through 2011 and permanently extends small business expensing.

Congressional Republicans have been holding these middle class tax cuts hostage, insisting on a permanent extension of the Bush tax cuts for millionaires and billionaires which economists say do little to create jobs in America (and the Bush record of shrinking the private sector is proof). House Democrats are letting the deficit-busting tax cuts for the wealthiest 3% expire and returning the top tax rates to what they were in the 1990s—an economic boom time for America.

[veganlush]

1. except that it isn't going to happen that way

the bill was blocked by the senate, and now a "compromise" will be reached, giving the republicans what they want, which is continuing tax cuts for the rich

[Andy823]

2. They should put all this

On billboards around the country! Take out TV ads in every state with this information, and send out flyers to every household in the U.S.! Get on every TV talks show they can and spread the word! Let the people know what the FACTS really are and show them the proof that tax cuts for the rich do NOT create jobs, never have and never will!

I know as sure as I am sitting here that the reason big corporations are NOT hiring is they are sitting on billions and billions of dollars, maybe even trillions, and if the republicans get tax cut extensions for the rich, then they will cut lose some money, do some hiring, and they try and say it was all because of the tax breaks they got, which will be pure BS, but the public will buy it, and the republicans will use it to make those cuts permanent in the near future! It won't matter that it was the billions they have been sitting on that actually was what is used to hire people, it will be the "tax cuts" to the rich they will say did it, and they will use that over and over and over in the future anytime democrats try and raise taxes on the rich!