First off, you always lose seats in the house and senate if your party wins the Presidential year cycle.
Also, caved on the tax cuts? For extending the tax cuts President Obama got
- A better tax credit for higher education stays in place. There is good news for parents and students paying college tuition because the American Opportunity tax credit is now available through December 31, 2012. Background
-A higher child and dependent care credit will still be available for two more years. If you have expenses for care of your under-age-13 children while you work, you may be eligible to take a credit
- new payroll tax cut will be created for 2011. Regardless of an individual’s income, the employee share of the Social Security tax withheld from wages will drop from 6.2 percent to 4.2 percent up to the taxable wage ceiling of $106,800. Doctors making over the ceiling will realize a saving of $2,136. The new law does not affect the employers matching share of Social Security tax which remains at 6.2 percent up to the ceiling of $106,800.
-Lower tax rates for
all individuals will stay in place. For 2011 and 2012, the new law extends individual tax rates at 10, 15, 25, 33 and 35 percent. Without the new law, rates were scheduled to increase to 15, 28, 31, 36 and 39.6 percent, respectively
Source:
http://cpas4docs.com/2011/02/01/two-year-extension-of-bush-era-tax-cuts-payroll-relief-estate-tax-compromise/So let me get this straight.. You were in favor of letting the tax uts expire for all US citizens, which would have bumped up tax rates for lower class famile 5% to 14% but only the rich 4.9%??
Give me a break, take that meme and go peddle it somewhere else.