Meet The Democrats Who Want To Preserve Tax Cuts For The Rich

[chimpymustgo]

Brian Beutler | September 16, 2010, 8:46AM

As he presses Congress to let the Bush tax cuts for wealthy Americans expire, President Obama has two goals in mind: achieve a significant policy victory; and give struggling Democrats a wedge issue ahead of the November elections. But a significant number of those Democrats are saying they don't want the help -- and that number may be enough to force Democratic leaders to punt on the issue.

Rep. Michael McMahon (D-NY), who is fighting to preserve the top-bracket tax cuts for at least a year, says he has somewhere between 25 and 50 members on his side. "I think the difference is there," he told TPM after a House vote yesterday afternoon.

McMahon is a signatory to a letter authored by Rep. Melissa Bean (D-IL) and others designed to pressure leaders to give wealthy Americans another tax break. His view represents a political and policy consensus shared by a significant, and vocal faction of the Democratic party -- a consensus that party leaders are doing little to weaken.

"Sometimes we forget how we became the majority. We did it by winning some affluent districts," Rep. Gerry Connolly told reporters earlier this month.

"I don't think anybody considers the notion of higher taxes for anybody as a good thing or a winning political strategy," McMahon said Wednesday.

"It's a winning issue in most districts," says a top Democratic strategist. But those districts where it's not are often represented by members, like McMahon, trying to show their independence from their leadership.

In McMahon's district, he says, a couple making $300,000 might still be living paycheck to paycheck. But freezing tax rates is important, in his view, to speed up the recovery nationally.

"It's about the psychology of the market makers," he argued. "And if you raise taxes now you're going to see a lot of people hold on to their money, maybe move it offshore, not invest in their companies."

That view is contrary to the one held by many leading economists and administration advisers, who argue that making sure low- and middle-income people have money to spend is the key to growth. But it is shared broadly by Democrats who want, at least temporarily, to extend tax cuts for the rich.
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More at:

http://tpmdc.talkingpointsmemo.com/2010/09/meet-the-democrats-who-want-to-preserve-tax-cuts-for-the-rich.php

Let's just GIVE AWAY our best issue. I HATE these stupid, corporatist f*cks.

[sinkingfeeling]

1. Somebody needs to ask him where he'll get the $4 trillion to pay for it.

[kentuck]

2. As well as getting rid of the taxcuts....

How about we get rid of theose Congress persons, also??

[laughingliberal]

3. McMahon is an asshole. The rich are hoarding their money and investing it offshore now.

Guess he thinks we don't know that. Perhaps the President needs to hammer that home more clearly. Almost 100% of the tax cuts that went to the top has been invested in foreign markets.

[JamesA1102]

4. He's my Congressman and totally sucks

He votes more with the GOP than with the Dems.

[nyc 4 Biden]

24. He's my Rep as well. he's a sellout, sleazeball, traitor.

He's going to have a hard time against Grimm in the general election, especially since most dems in our district won't lift a finger for him. I almost hopes he loses. Prick.

[JamesA1102]

44. Exactly! nt

[chimpymustgo]

6. Obama CANNOT give in on this one, but I've been feeling it coming for a while now.

As per the usual pattern.

[lonestarnot]

8. He better fucking NOT! He will be a lone star!

[Cal33]

19. To be really fair, the rich should not only have their tax cuts

stopped, they should also be made to pay back all they had gotten away with through
loop-holes and other deceitful ways. I admit that this latter part would be very
difficult to calculate.

[Ichingcarpenter]

5. a couple making $300,000 living paycheck to paycheck?

That's $25,000 a month before taxes...... good grief what a district
poor souls.

[bullwinkle428]

22. Inexcusable, no matter WHAT part of this country they're living in!!

:mad:

[BurtWorm]

25. To be fair, they might have 20 children.

[lumberjack_jeff]

27. If they did, their taxable income would be $68,000 less. n/t

[City Lights]

7. melissa bean is my Congresscreep, so I'm quite familiar with her...

:puke:

I do not like her at all. :thumbsdown:

I'll make note of those other names...thanks.

[laughingliberal]

I'm familiar with her. She led the charge in the House to gut a lot of the Financial Reform. nt

[lonestarnot]

9. No shit hate 'em!

And you won't see any decent richie rich fighting for the theft. They will be donating the 300K to food banks. K & R

[Name removed]

10. Deleted message

Message removed by moderator. Click here to review the message board rules.

[PVnRT]

11. A master's in "taxation," eh?

http://bulletin.wustl.edu/majors/

http://www.olin.wustl.edu/academicprograms/Pages/default.aspx

Funny, Wash U. doesn't list a degree in taxation. They do offer a master of law in the tax field. Something tells me, though, that lawyers with an LLM generally don't go for PhDs in accounting.

If the income on the building is only $4,000 per year, how in the world do you figure that your grandmother hits the AMT? Last I checked, the federal government does not tax property.

Besides, we are talking about restoring the marginal rates to what they were before the Bush tax cuts for people in higher brackets. What you're talking about...I just have no idea.

[Name removed]

31. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Fumesucker]

14. Welcome to DU..

I hope you enjoy your stay.

[Dyedinthewoolliberal]

23. Buh bye!

Enjoy your stay. Before you go, let me remind you the purpose of any law in a demoracy (allegedly anyhow) is to benefit the majority. Examples like the one you gave are going to be so far in the minority that we have to overlook them and draw the line somewhere...............

[county worker]

33. The tax rates are part of the tax code. The tax code changes as new laws are enacted and old ones

like the tax cut for the rich fades away.

You act as if the tax code is a constant like the Constitution.
You should be more informed about our way of life.

[county worker]

34. You're full is s .. t to!

[Enthusiast]

42. I don't like Teabaggers. nt

[disillusioned73]

12. OMG...

He didn't really say this;

In McMahon's district, he says, a couple making $300,000 might still be living paycheck to paycheck.

You know what I think - fuck'm, who the hell lives paycheck-to-paycheck making $300,000??

[Name removed]

18. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Hansel]

13. Someone needs to ask these people why it is

alright for our young men and women in the military to give up their lives, limbs, and, in some cases, their future financial stability at home, but it is some kind of a travesty for the wealthiest in this country benefiting from their sacrifices to give up an extra 3 pennies on the dollar for the cause.

The Democrats are missing a huge opportunity in not framing this as a slap in the face to those who have sacrificed so much more than 3 cents on the dollar. Ask them why they had their hands out for tax breaks while our soldiers were going to war to die for this country.

[w4rma]

15. Hang these Congressfolks out to dry. If they want to "show their independence" then they can go it

ALL ALONE in their campaigns, too. These are the worst of the worst people in Congress. They are trying to hang all the other Democrats in Congress out to dry. Don't let them. In fact, let them lose unless they can win without help.

[mstinamotorcity]

16. I am trying to figure

out why this is even a discussion. The Bush Tax Cuts for the wealthy have went on long enough. They don't pay for themselves or produce revenue period. But when you give the break to the middle class it is put back into the economy right away and spent in the sectors that help spur the economy.The tax breaks for the middle class are not enough to have any real savings. The majority of the monetary gain will go to tighten up bills or buy new shoes for the kids. Maybe some home furnishings at income tax time. No one has to tell us this, we know this buy the way we live our daily lives.And you don't have to be a CPA to figure that out.

[w4rma]

17. Because there are too many too wealthy little twerps who don't understand reality.

And don't care about anyone except themselves. And some of them are DLCers in Congress.

[mstinamotorcity]

21. And the angrier I get

about the Bush Tax Cuts,makes me keep telling all my friends and family to early vote. Request absentee ballots and they can vote from the comfort of their home no need to go any further than the nearest mailbox. Got my local election commission's number on speed dial so when I am with some one who is registered to vote and state they may not be going to the polls in November, I commit them to the early vote. I call right then on my phone while they order their ballot. Simple. And the election commission handles the rest.Done. My friends and I started an ask ten campaign. We all had around ten people in our inner circles that included grown children,sisters,brothers,friends,and in-laws,and some co-workers.We asked our ten to commit to the early vote. Then we asked them to ask one person to early vote. Thats all it takes. If 2000 people in every Democratic or non Democratic districts did this well you do the math.I know it makes it hard for the Democratic candidate to lose.

[Poboy]

30. Right. We have had them for the past 8 years and the tax cuts have PROVEN to be a FAILURE

in achieving any of the stated purpose for them. Its been a 8 year SCAM!

These 'Democrats' are TRAITORS.

[Enthusiast]

43. The Bush tax cuts have

not stimulated shit. We borrowed every cent to pay for these tax cuts.

[Hubert Flottz]

20. Look at this shit!

Manchin supports extending Bush tax cuts for wealthy
By Alison Knezevich

CHARLESTON, W.Va. -- Gov. Joe Manchin agrees with congressional Republicans and some Democrats who want to keep Bush-era tax cuts for the wealthiest Americans.

In an indication that he would break with President Obama's agenda on a key issue, the Democratic U.S. Senate candidate on Wednesday said he believes the tax breaks should be extended for all Americans, regardless of income -- at least until the country gets its "financial house in order."


"I think there's so much waste," Manchin said in a phone interview. "I think there's so much bloated growth."


The governor, who has tried to distance himself from Obama's policies, said no one should face higher taxes in uncertain economic times. Instead, he said, the federal government should look for efficiencies.


"I don't think this nation has done that," he said. "I believe very strongly that it hasn't."

http://www.wvgazette.com/News/201009151190

Edit...Little Joe Dino. Joe is looking out for Joe.

[lumberjack_jeff]

26. For a taxpayer earning $300,000

The difference between Obama's plan and McMahon's plan is $1500. One half of one percent.

[nashville_brook]

28. whoa.

[Individualist]

29. McMahon is a New Democrat

'nuff said.

[Poboy]

32. .

[Buns_of_Fire]

35. The Honor Roll:

http://tpmdc.talkingpointsmemo.com/2010/09/31-dems-to-pelosi-extend-the-bush-tax-cuts-for-everyone.php

Rep. Jim Matheson (UT)
Rep. Gary Peters (MI)
Rep. Melissa Bean (IL)
Rep. Glenn Nye (VA)
Rep. Michael McMahon (NY)
Rep. Lincoln Davis (TN)
Rep. John Salazar (CO)
Rep. Brad Ellsworth (IN)
Rep. Dan Boren (IN)
Rep. Jim Himes (CT)
Rep. John Barrow (GA)
Rep. Ron Klein (FL)
Rep. Zack Space (OH)
Rep. Jason Altmire (PA)
Rep. Allen Boyd (FL)
Rep. Joe Donnelly (IN)
Rep. Jim Cooper (TN)
Rep. Frank Kratovil (MD)
Rep. Mike McIntyre (NC)
Rep. Earl Pomeroy (ND)
Rep. Ann Kirkpatrick (AZ)
Rep. Jim Marshall (GA)
Rep. Stephanie Herseth-Sandlin (SD)
Rep. Sanford Bishop (GA)
Rep. Mike Ross (AR)
Rep. Rick Boucher (VA)
Rep. Harry Teague (NM)
Rep. Travis Childers (MS)
Rep. Walt Minnick (ID)
Rep. Harry Mitchell (AZ)
Rep. Jim Costa (CA)

Somehow I just knew my congresscritter would be on it...:mad:

[Blue Owl]

36. Let's be sure to take the Joementum right outta their fucking sails

next time they're up for election.

[femrap]

37. If you are making $300,000/year

and living paycheck to paycheck, you deserve a tax hike. Living beyond one's means is fucking stupid. Geez, didn't he/she get the memo about those Rainy Days????

I don't want to help someone like that....ever.

[slay]

38. +1

i would LOVE to make just HALF that in a year AND pay 50% or MORE in taxes. HAPPY TO DO SO. Dems that side with the ultra-rich while many of their supporters survive on way less - quite a few just on minimum wage - those Dems aren't really Dems in my book. There is no excuse for siding with the ultra rich if you are a Dem. None.

[kenfrequed]

39. McMahon is a moron.

Seriously, has he actually looked at any studies on this?

The wealthy, when given a tax break, never put that value into the economy and often offshore it anyhow so it would be money lost. Are we supposed to believe that giving them more money to shift away from the US is going to make them more likely to spend it to improve the economy?

Even if I were to believe these wealthy parasite would-be white collar criminal bastards were into helping out American (and not themselves) then I would have to look at the cost benefit of this.

1) Is any job they create or investment they make going to result in more money entering the system than that whatever percentage of the tax break they recieve that they don't choose to pocket? Unless the invest all of the tax break in this manner in addition to some of their own existing wealth (which is absurdly unlikely) then the answer is no.

2) Even if they were the most beneficent bastards in the world, and willing to create more jobs with this money, would it make any sense at all to create more jobs on a temporary tax break that you know is eventually going to go away? If you own a private business wouldn't it be better to stow the money and mull over it while earning interest?

3) Have the previous massive tax breaks for the wealthy actually improved the economy? Has unemployment dropped since their original passage? If the Bush tax breaks were so good than shouldn't things have already improved?

McMahon, over 300 economists disagree with you as do the overwhelming majority of the American people, the democratic party, and even a few republicans too. Isn't it time to stop embracing stupid conservative republican trickle down bullshit economic theories?

[Timbuk3]

40. That poor, downtrodden family making $300K

..."barely making it paycheck to paycheck" is going to pay 2% more on the $50K above $250K. That's $1000. Less than $100/month they won't have to put toward their retirement account.

I call bullshit, Mr. McMahon.

[Enthusiast]

41. "I HATE these stupid, corporatist f*cks."

Me too.