Sep 13, 2010 6:42am
George’s Must- Reads: Tax Cut Compromise?
EmailTax cut compromise? Businesses want something decided.
Sec. Geithner said Washington at risk of "hurting economic growth."
Rep. Ryan and Arthur Brooks argue that “what we must choose is our aspiration."
"New terms" for the future. Can you relate to any of these?
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Posted by: T Whittridge | September 13, 2010, 7:00 am 7:00 am
I keep hearing about not extending tax cuts for the millionaires but there is a lot room between 250,000 and 1,000,000. Those that are 2 adult household working extra hours so that they can make enough money to pay off college for their kids, or trying to save money to make up for a now worthless 401k are going to be hit hard if they make 251,000. When measuring “wealth” one should take into consideration the extremely expensive cost of living, some states worse than others. The only alternative you leave those making just over 250 is to work less and spend less, this should be great for the economy. The way some politicians speak of the “wealthy” it makes one think it’s a dirty filthy thing and they are above it. Are they actually wanting us to believe that they are not interested in money. They get many more breaks and deductions for being “public servants”. Sadly all I can see is that most of them are interested in self service. Those who make millions will be hit but they have enough money to cushion the blow. Those on the cusp, the non millionaire, are going to be hit hard.
Posted by: A Mammana | September 13, 2010, 8:44 am 8:44 am
If we want to save some really big money and really do something about the national debt we need to eliminate the payments made to reward people for having more kids than they can afford. Get rid of the EIC and the Child Tax Credit. That will save way more than what we will get from those making over $250,000. Take their tax cuts away too but stop the EIC and Credits, we cannot afford these giveaways.
Posted by: taxed more | September 13, 2010, 9:04 am 9:04 am
Aw, c’mon! Any couple making $250,000 AGI is not hurting. GOP always hint at cooperation until it is too late to do anything or until their position is secured, and then they pull back and renege on their ‘hints’ at compromise.
Posted by: Critic46 | September 13, 2010, 9:42 am 9:42 am
in california…manay many public employees make over 250k a year. we either have wealthy public employees or obam has villified anyone making a decent living.
Posted by: catman | September 13, 2010, 11:32 am 11:32 am
People making $251,000 will not be hit hard. They will only pay higher taxes on the $1000 over the $250,000. Please get the facts straight so that people understand what is really the truth. I would be glad to pay higher taxex on income over $250K if I could only get a job. I’d settle for a lot less.
Posted by: Jackie | September 13, 2010, 11:52 am 11:52 am
David Frum ( A Conservative Republican) Has decried the GOP strategy of obstruction as Irresponsibility!!!! Gridlock is not Responsible Governance — Obstructionism is not Solution making— Instead, the GOP’s just say no to everything is the greatest Dereliction of Duty.When they could have traded blocks of votes for policy shifts!!!! It is in compromise and Diplomacy that Coalition Answers are brought to a Problem. The Net result of a Massive GOP/Tea Party Win in November will be a 50% share in Governing —- In other words ,more, and Greater Gridlock!!! This is hardly a Result that will do anything good for America.!!! We need Diplomat’s, not Politicians who put their own Party, and reelection, ahead of the Countries Good.What we have seen from the current GOP is Irresponsibility of the highest order !!!
Posted by: brian | September 13, 2010, 12:19 pm 12:19 pm
Try paying 39% of your income already – which is just at the 250K mark – to a government wanting to take MORE. You can only bleed so much. We are not rich. Believe me, no more of our income will be able to go to a single charitable organization. Why set this threshold at 250K? Who decided this as “rich”?
Posted by: shannon | September 13, 2010, 1:31 pm 1:31 pm
“Post-human. Whatever we become next.” That does interest me, though the phrase is a bit mechanical. I do not believe in any glib transformation of human nature, and yet I think
we can break new ground, without ignoring the past and in fact building on it. This will involve a change, indeed a metamorphosis, in the great guiding paradigms: religious, philosophical, literary, social, political. Easier said than done but that is what interests me: not an overnight revolution or “coup de etat” but a slow unfolding of possibiltiy.
Posted by: Candadai Tirumalai | September 14, 2010, 9:21 am 9:21 am
Verily I say unto you. It is easier for a man to walk thru the eye of a needle than for a rich man to enter into the kingdom of heaven. If you make over $250K you are rich. Don’t think so? The average median income in the U.S. is about 60K. Even if your 250K is taxed at 50% you still have 4X more residual income than the average family of four. The sad fact is that many people truly believe that they are wealthy because of their own doing. The truth is that you wouldn’t be so blessed were it not for people less fortunate. Your job is dependent upon the masses of people that either directly or indirectly subscribe to the goods or services of your employ.
Posted by: Dave | September 15, 2010, 9:18 am 9:18 am
The problem with this tax increase is that the people the administration want to tax are suffering like the rest. The wealthy are also suffering income reductions along with the rest of the nation. But the wealthy have real estate, which they can’t sell or refinance. They are stuck in a catch 22. More taxes will increase the burden and stress on this class of people who are the employers of America. Where will this burden ultimately fall? On the employee who will not get a pay increase, or may lose a job or lose benefits. I hope the administration thinks this through before making yet another mistake.
Posted by: BRUCE | September 15, 2010, 10:37 am 10:37 am