Senate Republicans unveil a plan to make Bush tax cuts permanent

[Kalyke]

Even as they hammer Democrats for running up record budget deficits, Senate Republicans are rolling out a plan to permanently extend an array of expiring tax breaks that would deprive the Treasury of more than $4 trillion over the next decade, nearly doubling projected deficits over that period unless dramatic spending cuts are made.

The measure, introduced by Senate Minority Leader Mitch McConnell (R-Ky.) this week, would permanently extend the George W. Bush-era income tax cuts that benefit virtually every U.S. taxpayer, rein in the alternative minimum tax and limit the estate tax to estates worth more than $5 million for individuals or $10 million for couples.

Republican Idiots Shoot Self in Foot

How elite and out of touch can you get?

[sinkingfeeling]

1. So where's the outrage from the Teabaggers? Aren't they against huge deficits?

[Kalyke]

7. So they say.

On the one hand, they love them some tax breaks (even tax breaks for the people they will never be - the top 1 percent), but on the other, they don't want huge deficits. It's their biggest disconnect - yes, it's even bigger than the disconnect from their brains to their hands when writing out slogans on placards. The "I want it all for nothing" crowd, indeed.

[DrDan]

2. isn't that estate tax limit an increase from the pre-repeal amount?

[Historic NY]

3. the GOP PLAN adds 950 billion to national debt.. 4X that of healthcare plan.

<snip>
But the nonpartisan Congressional Budget Office recently forecast that a similar, slightly more expensive package that includes a full repeal of the estate tax would force the nation to borrow an additional $3.9 trillion over the next decade and increase interest payments on the national debt by $950 billion. That's more than four times the projected deficit impact of President Obama's health-care overhaul and stimulus package combined.
<snip>

[WhiteTara]

4. is the "new" news? Are they still

running this idea after the tea baggers win last night? They seem like they might be walk-ins without any recognition of life around them.

[jtrockville]

5. He only came up with a fraction of the funding needed for these.

Typical.

[Bitwit1234]

6. Hey see that tea bag sign....

Stop Borrowing From China....why didn't they tell Bush that, that's when most of that debt was run up.