Election-year politics confound tax-cut extension plan

[Jeffersons Ghost]

Election-year politics confound tax-cut extension plan
By Tom Cohen, CNN

Washington (CNN) -- Democrats and Republicans both say they want Bush-era tax cuts extended this year for most, if not all Americans. Then why has it been so hard to make it happen?

The answer is election-year politics, with each party battling for any advantage in a climate of voter anger about politics-as-usual in Washington.

At issue is who will get credit for what is considered the most likely outcome -- the lower tax rates enacted in 2001 and 2003 getting extended permanently for Americans earning up to $250,000 per family or $200,000 as individuals.

Led by President Barack Obama, most Democrats favor that approach, which covers 98 percent of the taxpayers. They argue that including the wealthiest 2 percent of Americans would cost an additional $700 billion over 10 years that the nation cannot afford.

http://www.cnn.com/2010/POLITICS/09/26/tax.cuts/index.html?hpt=T2

[doc03]

1. How about making a compromise with the Rethugs and

move the tax cuts up to $1,000,000. It would be much harder to defend extending tax cuts on millionaires.

[Jeffersons Ghost]

2. that's a good idea

[doc03]

3. I would much rather have it for $250,000 but I think

making it actual millionaires may be a good strategy. It would force them to defend taxing millionaires after all in some parts of the country I suppose $250,000 is not that much money today. Just a thought there is no doubt in my mind that the Republicans will get everything they want anyway.

[customerserviceguy]

4. Expect to be sold out on this

by the lame-duck Congress. Most of those who lose their jobs come January will be making over $250K in their lobbying jobs, they'll want to keep a bit more of it.