Ouch! I wish you hadn't brought that to my attention (I have been avoiding the news lately) It looks like greedy rich people still run the world. I guess we shouldn't expect anything otherwise.

Tax cuts have clearly succeeded over the last 8 years and we continue to reap the rewards--that's why I was surprised that it's only 35% and not like 70%! Wtf is up with that? Right?

And to think there are some Democrats who think your criticisms are unfounded!

http://open.salon.com/content.php?cid=105115

What do you think, Blake? After Obama's news conference I was convinced that he was going to stand his ground on money to the states and education and not have tax cuts, but it seems I was wrong.

Stay tuned for TARP Part Deux...there is alot of smoke and mirrors out there. Reality is not always what it seems to be. Cheers!

I wouldn't shit you, you're my favorite turd!

And it was more like 45% in the earlier go 'round so let's not hyperventilate here.

But is 35% that much of an improvement over 45%? I mean, really.

Oh, I DO think many tax cuts are bad, particularly those for the upper middle class and wealthy. I was being ironic in my response to you.

You by your profanity rantings and lack of economics simply prove how many Americans are IQ challenged and why we are becoming a thrid world country. Now missy, go smoke some crack listen to some rap, DUH!

Elvira Cat: Oh, I forgot about the women and children...I apologize for my profanity. I notice in your comment that you make no coherent argument of any sort and certainly not a compelling counter argument.

I will point to the phrase "profanity [sic] ranting" as well as the statement that I have "a lack of economics." These are the two main arguments you posit. They're not arguments, they're just statements.

Then you insult my intelligence and imply that I should smoke crack? Isn't an ad hominem attack as bad as "profanity ranting?" None of this makes sense. Either come strong or don't come at all.

Jane, I'm with you. What did you find out?

Tax cuts encourage both spending and saving as opposed to just spending. Look at retails tanking without middle class spending. It has to go back up.

Tax cut- the stupidest form of Keynesianism. At best it's the equivalence of feeding a man a fish for a day. The good kind of Keynesianism is building infrstructure that has long term pay back. Oh well- at least we should be glad that there is no tax cut for the top 5% earners unlike GW Bush.

I'll be the first to offer the caveat that I have a "lack of economics" but I just don't see how the tax cuts are going to help. The people who benefit from tax cuts are the ones who already have enough money for those percentages to matter. There is no kind of tax cut that is going to help lower-middle class ME to the extent a job would. Things like job corps funded by everyone paying their share of the taxes are what will benefit the emotional and financial health of this country in the greatest way. I'm seeing this simply from a practical job force standpoint.

Wasn't it Alexander Hamilton who observed that the country would come to an end once the people realized that they could vote themselves the "largesse of the treasury"?

Looks like that large-ass is going out both doors...

Note this evaluation from Mother Jones:

(1) The Alternative Minimum Tax "patch": Halts the Alternative Minimum Tax for one year, but steers most of the cuts toward the richest 10 percent of taxpayers, who will receive 69 percent of the $70 billion cut and will be the least likely group to spend that money. The AMT began as a way for the government to force the ultra-rich to pay taxes, even if they found enough loopholes in the tax code to pay next to nothing.

(2) The Home Ownership Tax Credit: Proposes a non-refundable credit to stimulate the housing market. Any family of four with more than $116,500 in income that purchases a home is eligible for a maximum $15,000 one-year tax break. If the family elects to take the credit over two years, it must show $78,250 in income. But since the tax is not refundable, it only benefits those who make enough money to have a tax liability.

(3) Deduction for Automobile Purchases: Anybody who bought a car (maximum sticker price: $49,500) after November 12, 2008, and through the end of this year can deduct the loan interest and excise taxes on the car. That is if you can secure a loan.

(4) Halting the Tax on Unemployment Benefits: Workers pay taxes on their unemployment benefits, so it sounds like a good idea, but it ultimately benefits high-income earners who receive unemployment assistance. The Senate provision reduces taxes on the first $2,400 of benefits, but the size of the cut varies based on the recipient's tax bracket. For example, someone earning $200,000 normally pays a 28 percent income tax. If that person also received unemployment benefits on his or her way to making $200,000, he or she would receive a 28 percent tax cut on the first $2,400 of unemployment benefits. Another worker with $42,000 in total earnings pays a 10 percent income tax. If that worker receives unemployment assistance, he or she only sees a 10 percent tax cut on the first $2,400 in benefits.

(5) Five-year Retroactive Tax Cut on Net Operating Losses: Lets companies receive refunds against taxable earnings going back five years, instead of the normal two-year period. The provision doesn't create incentives for companies to use the refunds to hire new workers or expand their businesses.

(6) Cancellation of Indebtedness Income Tax Deferment: The Senate bill offers a tax cut that will allow businesses to defer paying taxes on canceled debt. The IRS sees canceled, or forgiven, debt as income (if you take out a $20,000 loan, and your creditor cancels the debt, the IRS considers you $20,000 richer), and canceling this tax rewards businesses who take on heavy debt loads, one of the symptoms of the recession.

It's depressing to see Obama banging his head against the wall of obnoxious, republican dogma. No matter what the consequences, old GOPers will never stop playing the political game.

Chris, if you'll allow me to misquote you:

"Obama could use... the ability to make shit happen the way he wants it to happen. "

What is this magic ability? Maybe Obama needs to learn The Secret!

All Bush proved by getting his way is it's a lot easier to be destructive than constructive.

The argument I've kept hearing is that Obama would have lacked the votes to get through a filibuster had he not included the 35% in tax cuts. The problem I see in this logic is that, if you also include how the overall package is smaller than what was initially being asked (and infinitely smaller than what many economists thought would be necessary), Obama has played into the hands of the Republicans who want nothing more than to stack the decks in 2010 and 2012. I'm hoping Obama has learned that while bipartisanship worked in Illinois, in the nation's capitol, they're just not that into him. They would rather see the country fail on Obama's watch rather than work with a Democratic president. While the Republicans group together to work out their strategy for winning the next election, they are holding us hostage.

I agree with ya both RL and Chris K. was watching CNN this morn and *gag* the crap coming from the Grand Old Party caused much shouting from me which in turn woke up my roomie....at least now we're both grumpy today