Oh This is RICH... Obama "Blackmailed" Into Extended Tax Cuts For All..

[ready4ONE 5,400]

Of course. Didn't you know we have a ####### patrol here now?

God help us if Paul has been put in command of the ####### patrol!

[Usui Takumi 1,562]

Its politics in the end. Obviously this costs America a great deal (literally), but look at it this way. With this one simple motion he has swept the GOPs foundation from beneath them. The voters who put them in power voted for them on an anti-deficit platform and they have turned around and stabbed those voters in the back by supporting more massive spending. The GOP have failed their base before even coming to power. All that matters in the end is that the oligarchy continues.....and of course gets their tax cut.

[one...two...tree 2,762]

Its politics in the end. Obviously this costs America a great deal (literally), but look at it this way. With this one simple motion he has swept the GOPs foundation from beneath them. The voters who put them in power voted for them on an anti-deficit platform and they have turned around and stabbed those voters in the back by supporting more massive spending. The GOP have failed their base before even coming to power. All that matters in the end is that the oligarchy continues.....and of course gets their tax cut.

Spot on.

[Obama 2012 1,714]

God help us if Paul has been put in command of the ####### patrol!

Dude, your trolling butt would be sitting pretty with me as your supreme overlord. You'd have a good job, a fed family, a nice home, and nothing to complain about.

Now bow down and kiss my feet before i feed you to the dogs!

[ready4ONE 5,400]

Dude, your trolling butt would be sitting pretty with me as your supreme overlord. You'd have a good job, a fed family, a nice home, and nothing to complain about.

Now bow down and kiss my feet before i feed you to the dogs!

You are hilarious! Missed your calling in standup I think!

[Pooky 3,343]

Its politics in the end. Obviously this costs America a great deal (literally), but look at it this way. With this one simple motion he has swept the GOPs foundation from beneath them. The voters who put them in power voted for them on an anti-deficit platform and they have turned around and stabbed those voters in the back by supporting more massive spending. The GOP have failed their base before even coming to power. All that matters in the end is that the oligarchy continues.....and of course gets their tax cut.

And you obviously missed the historical precedent that for every additional $1 the government received in revenue from letting the current tax rates stand, they would spend between $1.16 and $1.80 of it. So history disagrees with you there. Keeping the current rates will stop the deficit expanding even faster.

The only money suck out of this deal is extending the unemployment benefit another 13 months. And that may cause the GOP same pain. But both sides get to look like they're "cooperating."

[Gary and Alla 3,694]

Cut taxes.

Personally I would tell Obama to STUFF IT. Ignore the unemployment benefits, wait until after January 1, pass the tax cuts and dare him to veto it.

[Gary and Alla 3,694]

Its politics in the end. Obviously this costs America a great deal (literally), but look at it this way. With this one simple motion he has swept the GOPs foundation from beneath them. The voters who put them in power voted for them on an anti-deficit platform and they have turned around and stabbed those voters in the back by supporting more massive spending. The GOP have failed their base before even coming to power. All that matters in the end is that the oligarchy continues.....and of course gets their tax cut.

Unless they cut something else to make up for it. Being against deficit increase does not mean "Do not spend ANY money", it means to balance ones income.

For one thing, tax reductions have ALWAYS resulted in increased revenues to the government, however in this case there IS no tax reduction, it is just not a scheduled increase and the Unemployment benefits were already in place...worst case, this is "break even". Best case is that they continue to cut in other areas. Deficit reduction is deficit reduction. For example, ending incentives for useless energy products or global warming studies will probably pay for the unemployment benefits. De-funding Obamacare. Certainly you are not going to judge what the Repubs do in a lame duck session when they are not even in the majority in ANYTHING yet.

The best is yet to come. Whatever happens now is still being done by a DEMOCRAT congress.

Spot on.

The DEMs are still in control. Repubs have yet to begin to fight.

[mawilson 2,133]

In all honesty, Obama gave the tax cuts for the top 2% away before any negotiations ever started. He ought to be willing to stand ground and draw a line in the sand on something eventually. He's not doing that. He continues to let the GOP set the tone and he continues to let them frame the debate. It's a shame, really. He wasn't blackmailed into extending the tax cuts for all - he literally invited the GOP to blackmail him.

The top 2% is not where the big bucks are. We're talking about

70 billion dollars per year - $700 billion over the next decade -

whereas the cost of a complete extension would rack up a nearly

$4 trillion tab.

It's disingenuous at best to pretend to care about the deficit

when discussing the tax cuts for the top 2% ($70 billion), while

at the same time supporting other unpaid initiatives, such as

unemployment benefits ($56 billion) or the "making work pay"

(aka "Obama") tax credit ($150 billion).

[Mr. Big Dog 10,747]

The top 2% is not where the big bucks are. We're talking about 70 billion dollars per year - $700 billion over the next decade - whereas the cost of a complete extension would rack up a nearly $4 trillion tab.

It's disingenuous at best to pretend to care about the deficit when discussing the tax cuts for the top 2% ($70 billion), while at the same time supporting other unpaid initiatives, such as unemployment benefits ($56 billion) or the "making work pay" (aka "Obama") tax credit ($150 billion).

You're right - the deficit will explode with or without the top tier tax cut extension. I would have been happy with letting it all expire but that would have some near term consequences on the economy. Piling on the debt will have long term consequences, of course.

I think the argument on the top tier tax cut issue was that the higher the income scale, the lower of a desirable short term economic impact any tax cut will have.

Estimates on the economic activity generated by unemployment benefit extensions is about $1.60 for every dollar spent. Tax cuts on the top tier generate about $0.35 on the dollar. In other words, the argument is that there's a benefit to be had from the former while there's not much to be had from the latter. Hence, there's some justification that can be offered for one of the items but none for the other.

[mawilson 2,133]

Estimates on the economic activity generated by unemployment benefit extensions is about $1.60 for every dollar spent.

I cringe whenever I see that number. This cockamamie idea that somehow giving unproductive members of society incentives to stay unproductive creates wealth just doesn't make any sense.

[mawilson 2,133]

If that was really true, we could all do nothing and grow wealth by collecting unemployment checks from the government.

[Mr. Big Dog 10,747]

I cringe whenever I see that number. This cockamamie idea that somehow giving unproductive members of society incentives to stay unproductive creates wealth just doesn't make any sense.

I don't think that's the argument. The figure merely represents the economic activity generated by the expense.

[Usui Takumi 1,562]

And you obviously missed the historical precedent that for every additional $1 the government received in revenue from letting the current tax rates stand, they would spend between $1.16 and $1.80 of it. So history disagrees with you there. Keeping the current rates will stop the deficit expanding even faster.

The only money suck out of this deal is extending the unemployment benefit another 13 months. And that may cause the GOP same pain. But both sides get to look like they're "cooperating."

Of course, I'm well aware of that study. Show me a study that illustrates tax cuts lower spending and we'll get somewhere. At the end of the day, the GOP are supporting adding to the deficit. Plain and simple.

[Usui Takumi 1,562]

Unless they cut something else to make up for it. Being against deficit increase does not mean "Do not spend ANY money", it means to balance ones income.

For one thing, tax reductions have ALWAYS resulted in increased revenues to the government, however in this case there IS no tax reduction, it is just not a scheduled increase and the Unemployment benefits were already in place...worst case, this is "break even". Best case is that they continue to cut in other areas. Deficit reduction is deficit reduction. For example, ending incentives for useless energy products or global warming studies will probably pay for the unemployment benefits. De-funding Obamacare. Certainly you are not going to judge what the Repubs do in a lame duck session when they are not even in the majority in ANYTHING yet.

The best is yet to come. Whatever happens now is still being done by a DEMOCRAT congress.

The DEMs are still in control. Repubs have yet to begin to fight.

At the end of the day they voted for something that adds to the deficit with no way to pay for it. Sure I can blame them now. They could have waited until January no?