Tax Cuts Extended

According to the Washington Times' Amy Fagan , a deal has been reached to extend some of President Bush's tax cuts.
Republican leaders in Congress yesterday agreed to a $69 billion bill on tax-cut extension, which could be approved by both chambers by the end of the week, handing President Bush one of his top tax goals. The House is expected to vote late today on the extension package, and Senate Republican leadership aides said yesterday that they hope the Senate will follow suit tomorrow or Friday.
I can't stress how important this extension is, not just because it's smart policy, but because it's a morale booster to GOP activists back in key House districts. It's also important to start notching up political victories going into the fall campaign in terms of changing the headlines. If the GOP congress starts getting things done, the Agenda Media will be forced to cover those accomplishments.

Still, it's important to note how important the tax cuts have been in this economic expansion. They've definitely produced prosperity for alot of people and strong economic growth in almost every sector of the economy.
The tax legislation is a leftover from last year. After months of negotiations, House and Senate tax writers agreed to a measure that would extend for two years the 15 percent tax rate on capital gains and dividends income, otherwise set to expire in 2008. It also would extend a one-year fix to save millions more Americans from having to pay the alternative minimum tax.
While Democrats have criticized this as tax cuts for the rich, the truth is that alot of pension funds benefit from these low tax rates. The reason why they won't talk about that is because Democrats worry that it might make PRA's more appealing. If there's anything that Democrats hate, it's the thought that there might be a better system than the Social Security system.
"These provisions have proven to strengthen our economy and help provide a stable and inviting environment for small businesses to invest and grow," said Senate Majority Leader Bill Frist, (R-TN). Mr. Frist hit at Democrats' tax policy, saying, "Rarely have they met a tax hike they don't like."
Sen. Frist is being too generous in saying that Democrats have rarely "met a tax hike they didn't like." It's more like they've never met a tax hike they didn't like. That point was drilled home to me about a decade ago when I caught a Minnesota state senate debate between three Democratic senators on what to use the money from a new tax increase on. One senator said it should fund more schools. Another senator said it should be used to build new roads. The other senator said it should fix the roads in the worst shape. What made the 'debate' so unforgettable was because we had just found out that we had a $3.5 billion surplus a month before.

Raising taxes is just part of a Democrat's genetic makeup. thankfully, we've got Republicans in control who hate them.


Posted Wednesday, May 10, 2006 1:31 AM

No comments.

Popular posts from this blog

March 21-24, 2016

Image
Mar 21 01:28 SCSU's budget cuts? Mar 21 02:29 When will the Range change? Mar 21 08:54 DFL's Marty in charge of environment Mar 21 11:45 OLA report, DFL & Meyer Associates Mar 23 12:48 Liberals' definition of moderate Mar 23 14:37 DFL activists: Government is racist Mar 24 08:59 IRRRB: Revamping vs. scrapping Prior Months: Jan Feb Prior Years: 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 SCSU's budget cuts? Cuts in Athletics at SCSU - Will it Really Save Money? by Silence Dogood With a $6,000,000 "structural deficit" and the need to "rebuild reserves by at least $3 million," SCSU has a $9,000,000 hole in its' FY17 budget. It doesn't take a Noble Prize in economics to figure out that reductions in expenditures (i.e., cuts) are going to be made at SCSU. On the Wednesday before Spring Break, SCSU President Dr. Earl H. Potter sent an email to the campus community announcing cuts to the athlet
Read more

January 19-20, 2012

Image
Jan 19 02:57 Minnesota Majority report an indictment against Minnesota's election integrity Jan 19 03:41 Ron Paul's Logic Jan 19 08:08 Newt thrives despite Mitt's hatchet job efforts Jan 19 09:19 Potential Game-Changer: Perry dropping out this am Jan 20 05:12 Newt takes Sen. Santorum to proverbial woodshed Jan 20 00:56 ABC, CNN, crawl into bed with National Enquirer Jan 20 04:00 Child Care small businesses file federal lawsuit Jan 20 04:41 Mitt's biggest policy blunder Jan 20 18:58 Gingrich, Reagan re-united Prior Years: 2006 2007 2008 2009 2010 2011 Newt takes Sen. Santorum to proverbial woodshed Rick Santorum was really feeling it Thursday night. Then he said something that's certain to cause him pain this morning. Here's what he said that got him in trouble: SANTORUM: But you also have to admit that this freshman congressman who wasn't supposed to win a race came and did something you never did, which is blew the li
Read more

October 31, 2007

Oct 31 01:01 Media Matter's Alter Ego? Oct 31 03:32 Iraqi Civilian Casualties Dropping Oct 31 10:52 Hillary's Panderfest Blows Up in Her Face Oct 31 13:15 Brod, Emmer Call For Investigation of Mark Ritchie Oct 31 19:43 Ritchie's 'Episode' a Tempest in a Teapot? Prior Months: Jan Feb Mar Apr May Jun Jul Aug Sep Prior Years: 2006 Media Matter's Alter Ego? One Media Matters-like organization is already too many. It appears as though there's another liberal apologist blog out there. Their name is News Hounds . The post that caught my attention dealt with last weekend's interview of Justin and Darryl Sharraltt on Hannity's America. To say that their post didn't attempt to refute Justin's story is understatement. In fact, they jump right into criticizing Mr. Hannity: Last night's (October 27th) Hannity's America was a strange magazine format which combined stories about mediums and haunted houses
Read more