Tax Cut Deal: "The magnitude of the concessions Obama won came into sharper focus Wednesday."

[Clio the Leo]

Senate leaders set to begin debate on tax cuts
By Lori Montgomery and Shailagh Murray
Washington Post Staff Writers
Thursday, December 9, 2010; 12:54 AM

Senate leaders are planning to begin debate on a far-reaching tax package as soon as Thursday as rank-and-file Democrats warm to an agreement between the White House and Republicans to extend a host of expiring tax cuts and pump fresh cash into the economy.

Democrats were still angry Wednesday about what they viewed as President Obama's capitulation to GOP demands to preserve tax cuts for the wealthiest Americans, particularly a deal to exempt estates worth as much as $10 million from a revived inheritance tax. But lawmakers said the magnitude of the concessions Obama won came into sharper focus Wednesday as the White House highlighted independent forecasts predicting that the package could create as many as 2.2 million jobs next year.

For a second day in a row, White House officials made the rounds on Capitol Hill, stressing the economic significance of their deal with Republican leaders to preserve tax cuts that are set to expire on New Year's Eve, extend long-term unemployment benefits through next year, and create major new tax breaks for businesses and individuals aimed at spurring investment and consumer spending.

While Vice President Biden and House Democrats met into the evening, White House budget director Jacob Lew and senior Treasury adviser Gene Sperling held an afternoon session to field questions from Senate Democrats, who were more accepting of the package than they were a day earlier in a meeting with Biden, participants said.

"Members are more open today as they read the analyses of this package," said Sen. Richard J. Durbin (Ill.), the chamber's No. 2 Democrat. Citing prominent liberals such as John Podesta, head of the Center for American Progress, and Robert Greenstein, executive director of the Center on Budget and Policy Priorities, who endorsed the White House plan, Durbin said, "These are people that progressives respect and go to, and they've said positive things."

http://www.washingtonpost.com/wp-dyn/content/article/2010/12/08/AR2010120807051.html

[Dawgs]

1. "White House highlighted independent forecasts"?

:shrug:

[Clio the Leo]

11. You dont understand that part?

(not bashing, asking)

[yourout]

2. Now watch just enough Pukes in the Senate stop it and blame Obama for trying to raise taxes.

[earthside]

3. 'Concessions'

We can all 'concede' this: Obama and the Democrats will getno credit for all the tax cuts they get in this 'deal' -- but they will get blamed for the trillion dollar hole they are blowing in the federal debt.

If Obama figured that he couldn't control the message and would get blamed by the Repuglicans for taxes going up next month, well, he sure as hell will not be able to control in the message in 2012 when it comes time to renew the tax cuts and when a 14 or 15 or 16 trillion dollar federal debt is a campaign issue.

The corrosive effect of this 'deal' will be felt long after this is passed by the wimpy Democrats in the House and Senate.

The "concessions" are poison pills.

[Cosmocat]

9. ABSOFREAKINLUTELY ...

Two years into his presidency, when he enacted nothing but tax CUTS, these scumbags have more than half the country convinced he has had taxes raised ...

The ink will not even be dry on this bill and they will start spinning in MASS how he only signed the bill for two years so he can have free reign to raise taxes after he gets reelected - that WILL be the meme, that he is so coniving (sp) and evil that he only did this to act like he was not going to raise taxes but once he gets a second term he is going to tax the living heck out of everyone ...

AT THE SAME TIME, the ink will not be dry on this bill and they will EVICERATE him for the deficits these cuts ensure ...

Create 2 million jobs ... Are these people friggen high ???

[Cal33]

4. Really? ........

"White House highlighted independent forecasts predicting that the package could create as many as 2.2 million jobs next year."

It's the job of the corporations to make sure that there will be no millions of jobs created next year.
And the Neocon leadership always do exactly what the corporations want them to do. They want Obama to
fail. They want to destroy democracy and set up a dictatorship as soon as they are able to. Bush
Tried but did not succeed. The next Neocon administration could very well succeed.

[earthside]

5. And with the Korean trade agreement ...

... and the huge number of jobs that the administration is promising that will create, well, pretty soon we're all going to be spending like it was 1998 again!

It is sad, with the Obama-Bush-Boehner tax cut deal, the Democrats have ceded the supply-side argument to the supply-siders.

"http://en.wikipedia.org/wiki/We_are_all_Keynesians_now">We're all Reaganites, now."

[BeyondGeography]

6. Rove said yesterday if you get 65, 75 or 80% of what you want, you should take it

So he places our win share at 35% max, which is why they're happy. Not bad for the minority party.

[Kber]

18. Which assumes a zero sum game

There might be things that we both want.

[LiberalFighter]

7. What aspect of the agreement will create nearly 2 million jobs?

[Cosmocat]

10. Jesus Christmas ...

tax cuts creating jobs ...

TWO FREAKIN MILLION of them, nontheless ...

We are getting hot water freezes faster than cold water from democrats now ???

[Supersedeas]

14. Believe in the trickle -- Reagan and W did, now we should too -- because Obama said so

[Divernan]

16. Loved Jon Stewart referring to that trickle down as a golden shower from above.

[Divernan]

15. Next you'll be asking for the identities of these anonymous "independent experts"

Facts? Facts! The administration doesn't need no stinkin' facts! A vague reference
to Podestat "saying positive things" does not equate to 2 million new jobs.

The source for the 2 million number is probably the same outfit the government quoted to minimize the reality of the oil spill during the Gulf of Mexico disaster.

You don't think the administration will hand out copies of said reports in the White House Press Room, do you? You see, that's why Obama says we're acting all entitled. Nope, the only response you'll get will be more hostile snark.

[earthside]

17. I'm still stewing over this.

Just think about it ...

Believing that tax cuts are stimulative and will create jobs and juice the economy is exactly what Reaganomics promised.

And now, we have a 'Democrat' in the White House making exactly the same argument -- I don't think we've even begun to understand just how sold-out this 'deal' is for the party of working America.

[EndElectoral]

8. Can we please primary this guy with an actual progressive?

[Clio the Leo]

12. lol, not in the real world anyway. nt

[Bluenorthwest]

13. Predictions and prophecies! More faith soaked words without

any foundation in reality. "Could create" is not the same as will create. So what this is a a guess that maybe, possibly, this could create jobs. And yet no one can show that these same tax cuts created any jobs so far, seems like the opposite around here. Tax cuts in the past are also not tied to job creation. So this is, as always, a fully faith based, irrational, right leaning and dishonest approach to deadly important issues. So tired of the 'predictions' of Sybil the Soothsayer and the dogmas of the deluded. It is always about predictions, faith, things unseen and unproven. This time, it is faith in Reaganomics.
I'm into facts not prognostications and slap happy predictions coming from those who see themselves as 'sanctified by God'. Crazy stuff. They see the future, they see the very will of God, they are just not able to DO anything with that divine power. They know the future and the mind of God, but they can not beat McConnell.

[rfranklin]

19. Predictions don't often come true...

2.2 million jobs could be created. This is complete propaganda. Didn't we hear about how the stimulus package was going to create millions of jobs? That didn't take into account the corporate bosses who are hoarding money and shedding jobs while "increasing productivity," i.e., whupping the slaves harder.

[ieoeja]

20. Scheduling taxes to increase in two years gives incentive to not take cash today?

We *know* that increased taxes today is an incentive to leave that money in the business working for you until you can take it out later when taxes are lower. If these analysts believe just the opposite, then these analysts are incapable of both logic and learning from history.

[Gin]

21. the rethugs in my area are gloating about getting in there and making

cuts....cuts mean more jobs lost....do they have some kind of deal with companies to create 2 million jobs?

COULD....is the operative word....talk about spin.

[Pisces]

22. People don't want to read they want to react. Purity, purity, purity

[bvar22]

23. "Major Concessions"...LOL

I will gladly create two million jobs on Thursday for a BIG PERMANENT TAX BREAK today!!! :)

What could go wrong?:shrug:



Trust me.

[niceypoo]

24. Obama takes ownership of failed Bush tax cuts

The same Bush tax cuts that tripled the national debt over the last decade.

Obama has abandoned the Democratic party and jumped in bed with snakes.

[eridani]

25. Destroying Social Security is a concession? On what planet? n/t