Excerpt: "After voting to keep the tax cuts for the wealthy - a move supported by Mitt Romney - House Republicans are expected to pass a bill (H.R. 6169) that would cut taxes for the rich and corporations even further and exempt U.S. corporations' offshore profits from taxes."
House Speaker John Boehner of Ohio, center, joined by other House GOP leaders, gestures during a news conference on Capitol Hill in Washington, Wednesday, June 27, 2012, following a political strategy session. From left are, House Majority Leader Eric Cantor of Va., Rep. Cathy McMorris Rodgers, R-Wash., Boehner, Rep. Renee Ellmers, R-NC, and Rep. Bill Flores, R-Texas. (photo: J.Scott Applewhite/AP)
House Republicans Vote to Keep Bush Tax Cuts for the Richest 2%
02 August 12
n a reverse of last week’s Senate action, the U.S. House of Representatives today approved (256-171) a bill (H.R. 8) to extend the Bush tax cuts for the nation’s wealthiest 2%— about $160,000 a year for the average millionaire. The House defeated (257-170) a Democratic alternative amendment to maintain the cuts for the middle class but end the tax breaks for the rich.
In a letter to House members, the coalition Americans for Tax Fairness, which includes the AFL-CIO, says “ending the Bush tax cuts would restore some basic fairness to our tax system… Simply put, we cannot afford to continue to give large tax cuts to those who need them the least.”
If we continue unaffordable tax breaks for the richest 2 percent, we won’t be able to address critical national priorities demanding attention—such as supporting education, strengthening Medicare, creating jobs, improving our infrastructure and helping the millions of families struggling to get by.
Not only that, but new analysis from the Center for American Progress shows that the Republican plan will raise taxes on roughly 24 million people—because it allows various credits, including the Child Tax Credit, to expire—while maintaining Bush tax cuts for two million wealthy Americans.
In addition, the Center on Budget and Policy Priorities (CBPP) finds that since the Bush tax cuts took effect in 2004, the average millionaire has pocketed an extra $1 million over the past nine years. The tax cuts made the tax system far less progressive by boosting after-tax incomes of high-income households by a much greater percentage than they did for low-income households. Click here for more.
After voting to keep the tax cuts for the wealthy—a move supported by Mitt Romney—House Republicans are expected pass a bill (H.R. 6169) that would cut taxes for the rich and corporations even further and exempt U.S. corporations' offshore profits from taxes.
The House and Senate are not expected to take any further action on the Bush tax cuts and will adjourn by the end of the week until after Labor Day.
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I know people that are dirt poor and are staunch republicans. They are on food stamps, medicaid/medica re, and several other government programs they wouldnt have if the republicans had their way...but they will vote republican. Its acutally mind boggling to me.
We should give the filthy rich a tax break...why? So they can dodge paying taxes like Mitt does?
My own opinion is that "mind boggling" behavior is a reflection of the systematic indoctrination we receive from our earliest education. That being, the need to belong...to feel a part of...and if you can't participate.... to at the very least, be supportive of the winners. (i.e.)Pep Rallies for the home team!!
I would not know how else to explain such a delusional mindset.
Quite simply, like those who continue to follow Catholicism, they are not too bright.
Like Catholics who accept church dogma without question, so do the "dirt poor" Republicans accept the republican mythology of self-reliance (even though the republican oil corporations receive massive tax breaks) and the even more unlikely myth that even they, at the bottom of the income barrel, have the chance to become wealthy here in the land of the faux free.
What term do you use for people who are unable to act in their own self-interests?
My guess is that they are "dirt poor" whites? Race has always been used in this country (even from before its founding) to divide the black and white working class. This only increased once the Republicans (under Nixon) adopted their "Southern Strategy" which was designed to lure conservative white southern democrats (the good ol' boy dixiecrats) away from the democratic new deal coalition. Thomas Frank deals with some of this in his book "What's The Matter With Kansas and for a longer historical view of this there is Theodore Allen's masterful two-volume The Invention of the White Race
So, it follows that all adults in a family MUST work (for money)to feed the children, who then get not much parental attention, or teaching of values, along the way.
Which has ultimately led us to where we are: The only concern of human virtue is Sex, and the only measure of human worth is Money.
So of course, the politicisns who point to Sex (of their choosing) as the whole of morality are the Godly Guys whom we must keep in office. And the Vastly Rich are the models of human values. So we MUST treasure, shield and obey them.
What? This is CRAZY? So how do we get rid of it?
The Big Rats are Running and refuse to pay their fair share.
I'm voting Democrat all the way.
I may have to do a parody-portrait of 'em sinking into the Hell-pit that awaits them and their "Yes-boss" ilk of mouthpieces and shills for the stinkin' inherited-rich and corporate masters, accompanied by Scalia, Thomas, Ailito and Roberts.
It won't do much general good but may help me express my utter contempt for them and the entire proto-Fascist path they are digging for the populace.
Seriously, did anyone think the vote would go the other way?
8 years of Bush-Cheney Republicans agenda caused the world-wide economic collapse...to the tune of trillions of dollars.
You think trillions of dollars of destruction gets turned around with Republicans blocking all legislation?
NO
Republicans caused the disaster and then stand in the way blocking any attempt to repair it and then Republicans blame your attempts to repair...which they have blocked...
It's all Bush-Cheney, Bush-Cheney, Bush-Cheney republicans that are the reason for disaster.
If the current rate is 36%, with no deductions...th e bill would be $360,000...at 39%, $390,000., although I suspect most pay closer to the 15% rate RcMoney claims he pays...or $150,000 without deductions
Just want accurate information and how computations are made!
Yeah that was a big mistake...takin g "the Boner" at his word. Im sure Obama wont make the mistake of trying to work with republicans again. I hope the dems get the majority and the republicans dont have anything to say about anything. Then maybe this country can get on the right path. The repubs wont even let laws pass that would fix the economy, they basically are for taking down Obama no matter what...country be damned!
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