The Hill: Senate Democrats Abandon Obama Promise to End Bush-Era Tax Rates

[flpoljunkie]

Senate Democrats abandon Obama promise to end Bush-era tax rates
By Alexander Bolton

07/08/11

Senate Democrats have officially abandoned President Obama’s campaign promise to end the Bush era tax rates for individuals making more than $200,000 and families earning over $250,000.

A long-awaited budget plan assembled by Senate Budget Committee Chairman Kent Conrad (D-N.D.) more than doubles the threshold for extending the Bush tax rates.

Conrad’s plan would extend current tax rates for individuals earning up to $500,000 per year and for families earning up to $1 million per year, according to Senate sources.

Obama promised during his 2008 campaign to end tax cuts for families making above $250,000, a goal that Senate Democrats shared until late last year.

Senate Democratic Policy Committee Chairman Chuck Schumer (D-N.Y.) has pushed his colleagues to raise the cut-off to $1 million because it’s easier to use as a message against Republicans.

http://thehill.com/homenews/senate/170507-senate-dems-abandon-obama-pledge-to-end-bush-tax-rates-for-rich

[w4rma]

1. Don't care about that. The cuts above $1m are the real beef. (nt)

[yourout]

3. What they really need to do is raise the tax on stock profits. 15% is nuts.

[w4rma]

5. Agreed! (nt)

[karynnj]

10. Ryan wants to eliminate it all together which is disgusting

His idea is that wealth from investments should not be taxed at all. This is almost immoral.

[indepat]

13. I would proffer it is well past immoral, like most of the pub agenda and actions

;) :patriot:

[indepat]

12. And the favorable tax treatment of dividends income which inures mostly to the uber-

wealthy. :patriot:

[kath]

2. Fuckers.

Sooo done w/ the fuckin' DINOs

[slipslidingaway]

4. knr nt

[MannyGoldstein]

6. Of no consequence

They won't do it no matter what the threshold.

[flpoljunkie]

7. I have to agree with you, Manny.

[rury]

8. These are the kind of "Democrats"

President Obama has to work with,.
This is why it is so damned hard to pass liberal legislation even with "comfortable Democratic" majorities in both houses of Congress.

[young but wise]

9. +1000

[Hand_With_Eyes]

11. What liberal legislation?

I dont recall any being considered.

[great white snark]

14. Already been considered and passed.

I'll start with DADT repeal and Lilly Ledbetter Fair Pay Act. You can look for "the lists" posted here many times for more.