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Thread: Obama, Republicans reach deal on fiscal cliff; Senate vote expected tonight

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    Re: Obama, Republicans reach deal on fiscal cliff; Senate vote expected tonight

    Quote Originally Posted by Whipsnade View Post
    How does it increase spending?
    More stimulus spending. The bill is effectively a tax and spend bill like always.

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    Re: Obama, Republicans reach deal on fiscal cliff; Senate vote expected tonight

    Quote Originally Posted by Whipsnade View Post
    How does it increase spending?
    I was going to ask the same question.

    Quote Originally Posted by Henrin View Post
    More stimulus spending. The bill is effectively a tax and spend bill like always.
    How? Exactly where do you see the spending side of this?

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    Re: Obama, Republicans reach deal on fiscal cliff; Senate vote expected tonight

    i still don't see them getting this through the House

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    Re: Obama, Republicans reach deal on fiscal cliff; Senate vote expected tonight

    We waited 365 days for this crap?

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    Re: Obama, Republicans reach deal on fiscal cliff; Senate vote expected tonight

    Quote Originally Posted by Objective Voice View Post
    If the details as found in this linked article from theHill.com are accurate, I'd say both sides got pretty much what they wanted.

    The GOP got:

    - a higher income level on tax revenue ($400K on individuals; $450 on families).
    - Phase-out on tax deductions for high wage earners ($250K on individuals; $300K on families).
    - An increase in the estate tax (40% for estates valued above $5.1M)
    - Extends 15% capital gains tax rate for individuals making up to $400K, families up to $450K; rate increases to 20% for those making above these amounts.

    (Sidenote: See this theHill.com article on how the GOP plans to "save face" by claiming to cut taxes under the deal.



    Talk about political parlor tricks! )

    Democrats got:

    - Increased revenue via higher tax rate, higher capital gains rate and a phase-out on tax deductions on high wage earner above $400K (individuals)/$450 (families).
    - Preserving the EITC, Child Tax Credit, college education tax credits and renewable/alternative energy tax credits.

    A win-win for both sides....if it passes both the Senate and House.
    Most of those were offered compromises, not desired outcomes for the republicans. How is that a win-win? The only thing on there that even resembles a republican proposal was the phase out of tax deductions, but that was supposed to be coupled with spending cuts.
    One who makes himself a worm cannot complain when tread upon.

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    Re: Obama, Republicans reach deal on fiscal cliff; Senate vote expected tonight

    Quote Originally Posted by azgreg View Post
    We waited 365 days for this crap?
    Would you expect anything else at this point?
    One who makes himself a worm cannot complain when tread upon.

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    Re: Obama, Republicans reach deal on fiscal cliff; Senate vote expected tonight

    more of the same from the democrats, lets pay people to sit at home on the asses for another year instead of expecting them to go back to work.

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    Re: Obama, Republicans reach deal on fiscal cliff; Senate vote expected tonight

    Don't run out to the mailbox for your welfare check yet.

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    Re: Obama, Republicans reach deal on fiscal cliff; Senate vote expected tonight

    Quote Originally Posted by Fisher View Post
    i still don't see them getting this through the House
    I think it will get thru the house. There's still a few sane Representative left in that chamber.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: Obama, Republicans reach deal on fiscal cliff; Senate vote expected tonight

    Quote Originally Posted by Objective Voice View Post
    How? Exactly where do you see the spending side of this?
    I just told you, more stimulus spending. It adds five-years worth of stimulus spending to some of the president’s plans from 2009 and that is just for starters.

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