will the Bush tax cuts of 2002 be allowed to sunset?

[Just Win]

i am sure many of you that pay your taxes and pay them on-time (see geithner, treasury secretary for not and half of the barry cabinet for that matter) are aware that the Bush tax cuts of 2002 sunset after 10 years. with the MASSIVE pork bill being passed will these tax cuts be allowed to sunset? look for barney frank and chris dodd to cook up some excuse that these tax cuts will be allowed to sunset in order to service the MASSIVE obama debt from this pork bill presently before congress. dust off that old 2001 tax code law book and regs. we are going back to the future

for whom does the national government tax bill toll for? the bill tolls for thee.

[NCVol]

There never was an actual tax cut under Bush.  It was a tax shift, funded by borrowing $5 Trillion, from this generation to the next. 

Obama is doing the same thing, but at least the rhetoric from folks like you has changed and deficits and debt appear to matter again.  Maybe after the crisis passes, we'll get back to responsible budgeting again. 

[Just Win]

There never was an actual tax cut under Bush.  It was a tax shift, funded by borrowing $5 Trillion, from this generation to the next. 

Obama is doing the same thing, but at least the rhetoric from folks like you has changed and deficits and debt appear to matter again.  Maybe after the crisis passes, we'll get back to responsible budgeting again. 

How about it NVC. You told us you are a tax expert. Now that we are on our third Ways and Means Committee Chair in about four days, what is the status on those Bush tax cuts scheduled to sunset after next year?

[native]

NC, it's funny to me how 2 yrs ago the obstructionist's claimed not only did deficit's and debt not hurt the country but were actually good for America. Now they keep bitching and moaning aboutdebt and deficit's even though the economy is on the rebound. I talked with someone from the DOL the other day, she said 6years ago they seen the economy starting to go into a recession and now they are starting to see it turn around. Truth is our plant announced it's closing and the loss of all jobs, within 2 day's we found out that another company is set to hire everyone at a much higher wage and better benefits.

[Just Win]

NC, it's funny to me how 2 yrs ago the obstructionist's claimed not only did deficit's and debt not hurt the country but were actually good for America. Now they keep bitching and moaning aboutdebt and deficit's even though the economy is on the rebound. I talked with someone from the DOL the other day, she said 6years ago they seen the economy starting to go into a recession and now they are starting to see it turn around. Truth is our plant announced it's closing and the loss of all jobs, within 2 day's we found out that another company is set to hire everyone at a much higher wage and better benefits.

Let NVC speak for herself. She is a big girl. BTW, you have deficts and then you have Obama/Pelosi/Reid Deficits. Those are two different things.

The planned Obama destruction of the American capitalist markets.

[Flummoxed Lummox]

Just Wind,

Serious question for you. Of our current national debt (some $11 TRILLION plus and rising), how much of it came from Republican administrations?

[native]

FL, I doubt Just Wind will answer that.

[Dementia_Madness]

Here's a better question

In the end who is most responcible for the federal budget congress or the president?
The president submits his budget plan...Then congress gets it's "budget resolution".... CONGRESS sets  spending limits on discretionary government programs. I will admit that much of the Republican's are almost as bad as Democrats when it comes to spending....and GWB's spending was one of my biggest gripes against him...

Bush 43, and the congress with him, added $4 to $5 trillion to the national debt..shameful.

we are now above 12 trillion   In Bush's 8 years he added 5 trillion....Obama in ONE YEAR added over two trillion...so far it looks like the numbers favor Obama's debt being MUCH higher than Bush's.... and IF we add to the fact that congress which hs been under democrat control for a while now just keeps spending away...republicans and democrats....sad.

No-one can deny that there is ONE thing driving our national debt above all others...that is spending. Now we can ask who is responsible for our current debt...the answer would be most simplified by the answer to the question just exactly who is responsible for creating the spending status quo that resulted in our current nation's debt?
Who's been in control of congressional spending, virtually unopposed, for much of the last 75 years? The republicans have some part of the blame this is true..but if you want to see where YOUR debt comes from, look at what you are spending....and you will indeed see where your debt comes from, and who spends the most, is indeed the biggest culprit in creating the debt.

http://www.washingtonexaminer.com/politics/Obamas-trillions-dwarf-Bushs-dangerous-spending.html

Back in 2006, when Democrats were hoping to win control of the House and Senate, party leaders worked themselves into a righteous outrage over the issue of out-of-control federal spending. Rep. Nancy Pelosi, D-Calif., called the Republican budget “irresponsible” and “unpatriotic” because it increased the amount of U.S. debt held by foreign countries. Sen. Harry Reid, D-Nev., accused Republicans of going on “an unprecedented and dangerous borrowing spree” and declared GOP leadership “the most fiscally irresponsible in the history of our country … no other president or Congress even comes close.”

Read more at the Washington Examiner: http://www.washingtonexaminer.com/politics/Obamas-trillions-dwarf-Bushs-dangerous-spending.html#ixzz0i4D7MVfw

Now, under Obama, the national debt — and the interest payments — will increase at a far faster rate than during the Bush years.

“We thought the Bush deficits were big at the time,” Senate Minority Leader Mitch McConnell, told me this week as he prepared to attend Obama’s Fiscal Responsibility Summit. “But this is going to make the previous administration look like rank amateurs. We could be adding multiple trillions to the national debt in the first year.”

At some point last week, the sheer velocity of Obama’s spending proposals began to overwhelm even experienced Washington hands. In the span of four days, we saw the signing of the $787 billion stimulus bill, the rollout of a $275 billion housing proposal, discussion of Congress’s remaining appropriations bills (about $400 billion) and word of a vaguely-defined financial stabilization plan that could ultimately cost $2 trillion. When representatives of GM and Chrysler said they might need $21 billion more to survive, it seemed like small beer.

The numbers are so dizzying that McConnell and his fellow Republicans are trying to “connect the dots” — that is, to explain to the public how all of those discrete spending initiatives add up to a previously unthinkable total. Obama’s current spending proposals, Republicans point out, will cost more than the United States spent on the wars in Iraq and Afghanistan, the general war on terror and Hurricane Katrina in the last seven years. And that’s before you throw in the $2 trillion fiscal stabilization plan.

“This is big government, man,” McConnell exclaimed, his matter-of-fact manner giving way to sheer amazement. “It makes previous attempts at big government pale in comparison — they’re going to go beyond the New Deal and the Great Society by far.”

The new spending guarantees that the problems that so disturbed Pelosi and Reid just a couple of years ago — high interest payments and an increasing number of foreign debt-holders — will get worse. Yet so far, the Democratic leaders have refrained from using words like unpatriotic, irresponsible and dangerous to describe Obama’s budget.

Of course, they would never use such phrases to attack their own team. But the most important thing to understand about Pelosi and Reid is that while their rhetoric has changed, their substance hasn’t. Back in the Bush days, when they were denouncing Republican over-spending, they were also pushing the congressional leadership to spend more, not less, on just about everything. Now, returned to power, they’re doing the same thing. Only bigger.

Read more at the Washington Examiner: http://www.washingtonexaminer.com/politics/Obamas-trillions-dwarf-Bushs-dangerous-spending.html#ixzz0i4DhjC2k

I can promise you this, I will not support any republican who spends like a democrat...If I have to vote third party..or if you can find  me a pro-life, small government, spend cutting, freedom loving, constitutional conservative democrat he or she will get my vote.

[plumbervol]

The economy is not a Democrat or a Republican thingie, it is an American thing. To much money and equity is leaving America for overseas.  The only way to keep it here is to TAX and require American investment to receive tax relief. Right now American money that is supposed to create jobs is running overseas chasing profit. The only way to stop the hemorrhage is to TAX and give relief to American investment.


Foreign money is buying real estate and using it for equity for foreign investment. Chances are that they will never payback the money and the property ends up in forclosure against the loan. It is a major problem GIC's and mutual funds are jumping on the bandwagon chasing the paper profit. Tax cuts are encouraging this behaviour, this is bad for the US future and the economy. I am sorry the free ride is over one way or another. One way ruins the US economy as we allow this practice, time to tax and give breaks based on American friendly investment.

This crap started in the early 80's and it must stop NOW!! We are in a position that tax increases is the only way to force American investment....... You either pay taxes or invest at home..... My old man a Buy American Union guy even bought Mutuals aimed at overseas investment trying to hedge his position. He was right to do that to preserve his capital, but the move by the government to encourage state side investment would stop this trend. Money needs a lunch pail to go to work to earn a paycheck for its owner. Our system encourages over seas investment without some tweaking. Make it profitable to invest in America.

You damn Republicans support anti American investment strategy. Some terrorist use bombs, others use their investment capital. In the end that capital investment strategy is much more harmful than a dirty bomb for America's future

[Flummoxed Lummox]

FL, I doubt Just Wind will answer that.

native,

I never thought he would. He, like his boy toy OMG, is a coward. He makes outrageous posts with no facts or reality to back them up. Then when his statements are exposed, he invariably changes the subject or ignores the counter post. OMG and JW are the two most pusillanimous posters on this forum.

Some 80% of the current national debt we have was the product of REPUBLICAN Presidents. Every Republican since Richard Nixon has added to the national debt. Clinton, a Democrat, has been the only President since before Nixon to actually do something to try to reduce the debt.

So, when I hear the conservatives whine and moan about Obama I just laugh. If McCain were President right now, these same clowns would be silent. It is their side that just claimed a few short years ago that "deficits don't matter" (Dick Cheney). But suddenly, when a Democrat is in office, they go apoplectic. Hypocrites all.

[Flummoxed Lummox]

Here's a better question

In the end who is most responcible for the federal budget congress or the president?
The president submits his budget plan...Then congress gets it's "budget resolution".... CONGRESS sets  spending limits on discretionary government programs. I will admit that much of the Republican's are almost as bad as Democrats when it comes to spending....and GWB's spending was one of my biggest gripes against him...

D   M,

What part of a veto do you not understand? No one put a gun to Nixon, Reagan, George H. Bush, or W to force them to sign any of those budgets. EVERY REPUBLICAN SINCE NIXON HAS ADDED TO THE NATIONAL DEBT. EVERY ONE OF THEM! If maybe there had been just one Republican in that time that actually tried to reduce the deficit you clowns might have some credibility. But the last 24 years + of Republican administration has seen the deficit explode, not decrease.

What possibly makes you think things would be any different if Republicans regain power? History says they will continue to expand the deficit, reduce the middle class, and help the wealthiest among us at the expense of everyone else. You live in an alternate reality if you think things will change the next time we have a Republican President. But then again, you do live in a world that few of us know. So I guess I shouldn't be surprised.  

[Dementia_Madness]

And...no-one puts a gun to Congress' head either, there is such a thing as actually working towards political solutions rather than simply stomping your feet and saying "Nein! Nein! Nein! Nein!" The TRUTH of the matter is that the PRESIDENT is not the sole authority, nor the final word when it comes to the budget..that is why Congress has the ability to CHANGE it and add to it and take out of it as they see fit, and vote on it, in the end BOTH have the ability and responsibility in the matter to control what is spent and what is not...

Silly people want to believe that the president has sooooo much power and authority....I guess that is because in the end they want him to have that power and authority...that is as long as he is a democrat. Just like the IRAQ war, Congress approved it...and yet somehow, you people think it is all the workings of Bush... ask your friend Ncvol about Balance of power....that USED to bell he talked about during the Bush years...funny how a democrat in office changes peoples worries.