After The Tax Fight, Parties Move To Compromise

[Purveyor]

WASHINGTON (AP) -- Their political options limited, Democrats and Republicans appeared to unite Sunday behind the outlines of an economic package that would temporarily extend expiring tax rates to all taxpayers as well as jobless benefits for millions of Americans.

Differences remained over details, and some Democrats continued to object to any plan that would continue Bush-era tax rates at the highest income levels.

Without action, however, Congress faced the prospect of letting the tax rates revert to higher pre-2001 and 2003 levels, and delivering a tax hike to all taxpayers. Negotiations between the Obama administration and a bipartisan group of lawmakers centered on a two-year extension of current rates.

At the same time, Friday's jump in the unemployment rate to 9.8 percent added pressure on Republicans to accede to President Barack Obama's demand that Congress extend unemployment insurance for a year. A deal could be reached this week.

"I think most folks believe the recipe would include at least an extension of unemployment benefits for those who are unemployed and an extension of all of the tax rates for all Americans for some period of time," said Sen. Jon Kyl of Arizona, the Senate's Republican negotiator in tax talks between lawmakers and the Obama administration.

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http://hosted.ap.org/dynamic/stories/U/US_TAX_CUTS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2010-12-05-17-55-09

[potpolpilot]

1. Translation: Repubs: 'Give us a $700 billion check & the unemployed get $18 billion.

Then the recipients of the $700 billion give us a few hundred million back for the 2012 election & a few hundred million for the lobbyists...to extend their tax cuts.

[grumgrum]

5. Either Democrats enjoy masochism, dumb, or part of the act.

You are absolutely correct in the 18 bill vs 700 bill.

[peacebird]

2. Dems should let the tax cuts expire. Period. Let the TeaPartiers rejoice and

the average American fume at Republicans for blocking tax cuts for the 98% who earn less than $250k.

[Andy823]

3. Big mistake

Unemployment extensions should be for two years and if we have to compromise, let the middle class cuts be permanent, and the tax cuts for the rich expire in ONE YEAR, not TWO! Two years puts it right back in an election year, and once again it will be used by republicans to make them permanent! Democrats should come out on top of any compromise, not on the bottom! I still say the best thing is to call their bluff and let the tax cuts expire. Force republicans to stall everything in congress until they get their tax cuts for the rich, see just how will that will go over with the public!

[grumgrum]

4. Win-Win for GOP -- Sadly, once again Obama and Dems don't get it, OR are complicit

Obama has pretty much sealed his fate as 1 -termer.

[potpolpilot]

7. Obama couldn't articulate the healthcare issue & can't make a case against tax cuts for the wealthy

It was apparent that he truly does not understand the healthcare issue in this country. Basically doesn't understand why the U.S. is the ONLY ONLY ONLY developed country with this whack job system. Now the Repubs will throw him not even a crumb...UNEMPLOYMENT BENEFITS FOR THE CITIZENS WHO LOST THEIR JOBS BECAUSE OF THE SAME PEOPLE DENYING UNEMPLOYMENT CHECKS. PASS NAFTA THEN STARVE THEIR FAMILIES.

At this rate Obama will end up living in a travel trailer on the outskirts of D.D. before his term is over.

[pscot]

6. The GOP just killed a tax break for 280million

Americans and now we're going to bail them out. But will they still respect us in the morning?