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Maryland Democrat Chris Van Hollen Says "Unsure Whether Obama-Republican Deal Can Pass House In Current Form"
Reuters headlines that Maryland Democrat, and ranking member on the House Budget Committee, Christopher Van Hollen is saying "I'm not sure that this bill can pass in this form in the House of Representatives." Is this just the start of political bickering within the democratic party?
We will bring more as we see it.
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No this is the pack crying out for their free goodies.
That's all this thing was ever about.
We have to pass it or the market/economy will crash so here's your pork.
Nah, he just wants to see a little more pork for his district and personal pet "charities". Don't worry, he'll come around.
Nice to see he's found a career in politics, though, after David Lee Roth left the band and breaking up with Valerie Bertinelli and all those tough times that followed. :P
you mean eddie van halen!
"Everybody wants some!! I want some too!!"
Gridlock bitchez!!
Gawd I hope so. It's a terrible deal no matter how you look at it unless you are extremely wealthy.
I am of the state of mind that we are fucked no matter what. Rasie or lower taxes, or tax us 100% they are broke no matter what.
Expect a rally.
I'm not so sure that passage of this deal is a slam dunk. There are reasons to hate this deal across a wide spectrum of political viewpoints.
Have no doubt at all about all this . . . the estate tax item was 100% off the radar this time last week. It was thrown in ONLY AND SOLELY to have something to throw out to buy votes.
It's all a sham.
Pass it now, or it passes in late January. The Democrats in Congress are holding few cards, now.
Kinda what I was thinking. If the GOP really wants it, why not wait 'til they're in charge in January, then make it retroactive to Jan. 1st?? Seems like it would save some headaches right now.
I'm not supporting the idea, just saying.
Because the GOP wants political cover, and Obama is giving it to them.
As for "not holding many cards", the Dems, if they showed some backbone, could prevent the GOP from getting anything done in January if they wanted to. But they're so used to bending over for Republicans I don't see that stopping.
I didn't junk you, fyi.
Nor did I.
The only Democrat with cards is the President. The ones in Congress are pretty much on the rail. Obama is the one that would have to show this so-called backbone here, not those in Congress.
what's the point of a two year plan? whatever the outcome, it should be permanent.
what's the point of a two year plan?
Someone evidently read their history and realized that a "5 year plan" has a negative connotation.
I didn't see any language in the bill about a pony. And I want a pony. This is America, after all.
All the ponies in China are reserved for internal consumption
yes...isn't it terrific?!
That presser yesterday with Obama was classic. Readers here need to know that he was as angry with his own party as he was with the republicans. Clearly OB does not like the fact that his liberal elitism is now not working with his own party...imagine Ob not liking something written about him in the New York Times!
Hopefully even the serious banksters are taking notice. This WH has no clue how policy impacts financial markets and economics; rank-and-file dems know even less.
I am amazed that more people inside the beltway don't realize that the OB proposed deal amounts to yet another massive stimulus bill.
This may be the dems last chance to foolishly spend other people's money. If they were smart, they'd count their votes, allow Members in tough races to vote 'no' then come up with just enough votes to let this through because I think its all austerity all the time from here on out.
The only time the dems are going to get a chance to vote to spend more money will be because the #$%^ has really hit the fan again and they will have to bail-out, Spain, Italy, Illinois, California, New York, The Postal System, FNM, FRE, AIG, or some other unpopular vote.
Van Hollen is an idiot. This is the "Hail-Mary" bill. If this doesn't work the Congress and the White House are out of bullets which means Bernanke will become the most important person in Washington.
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You don't have a clue. The reason why Democrats are pissed about this latest boondoggle is that he just broke a huge promise to let the millionaire tax cut expire. So instead, we have the Republics going on about cutting the deficit on one had, but demanding tax cuts for millionaires on the other. What a fuckin' bunch of crooks, the lot of 'em. There's not a dimes worth of difference between Obummer and the Repubs.
weiner,
You sound JUST like the damned MSM.
There are NO TAX CUTS.
As I am sure you know, they are not allowing the Bush cuts to expire.
Period,end of story.
No one is gaining one more DIME than they did last year.
I do not think Americans can afford anymore bending over.
Esp at the rates Obiwan has proposed.
We're screwed if we do, and we're screwed if we don't, just at a different speed.
I just read a list of 202 Exempted bitchez, from the Obumma Care.
I got nailed with a 15% increase,thanks to Obumma Care.
Go there and see WHO is getting the passes.
Not J6P,friggin Ins Co's, and Health Care Co's,and Unions for the most part.
You may be correct. With unemployment going up from 9.6 to 9.8 (not the real unemployment but who's counting right?) and other factors showing our economy continuing in it's slowing, Obama couldn't go out and ask for another QE3 after the one they started a month ago. They are using this as stimulus, but it won't work. All they are doing is throwing inflationary money after inflationary money. Next year is going to be a very nasty year. I see cuts being done on the state and local level in regards to benefits and in pension outpay. I see cuts on the federal level, (job freezes, layoffs, budget cuts, cuts to benefits, etc. etc.) just cuts everywhere. They have to because the states are broke and the 3 biggest money states make up a quarter of our GDP and they are essentially broke.
Well, see, there's a lot going on.
But without question, the Estate Tax stuff was not even mentioned a couple of weeks ago. They tossed it in so the left wing can get it extracted and claim victory.
Of somewhat more importance to the WH, if this bill doesn't go through, then 1 January Obama raises taxes on the middle class and a campaign promise is obliterated.
Do not think this is not a huge issue.
Obama has long supported raising the 2011 exemption level on the Federal Estate Tax to $3.5 million and a max rate of 45%. That is nothing new. The $5 million exemption level and the max rate of 35% being proposed in this measure is more generous, but Obama apparently thinks he needs some Republican support to get the whole package passed.
I don't know where you are getting the idea that the Estate Tax portion of this proposal is going to get tossed out. I rather doubt it. It needs to be resolved this month.
This is last minute posturing. There is NO WAY that Congress will refuse to pass a tax cut extension bill this month. As a whole, neither party (Republican or Democrat) has the guts not to extend UE compensation. This foot dragging is about getting perks in exchange for for votes.
I am glad there will be some resolution re. the Federal Estate Tax. Whether you believe in the merits of Federal Estate Tax, it was absurd to have let it waffle this long without letting people know how to plan for it. Allowing it to revert back to a $1 million exemption and a 55% max rate in 2011 would have been too stringent (imo).
If they don´t there is going to be a lot of capital gains selling and dividend trading in the market...
I do not like they say the tax rate extension..tax cut to a Democrat...will cost 700 billion...what about the revenues it raises....they do not track that.....people spend and invest money...it creates tax revenues all across the board...
In the end it is all smoke and mirrors. If they leave the tax cuts in, our national debt is going to spiral towards default since they refuse to cut spending. Raise taxes and the economy is going to get choked even more than it is eventually leading to a default. Pick your poison?
From the d-bag democrats position, they have nothing to lose by telling Obummer to kiss their arses since they are losing their seats anyways. He went behind their backs kissing up to the Repubs selling his own party down the river. Obama should eat this one.
Obummer is indeed a douchenozzle, but the question I want to know is where are our teabagging friends? I thought deficit reduction is important? So are douchenozzle Republics that ignore the deficit different than douchebag Dems that do the same?
Totally Correct. I wouldn't junk you, I'd +1 you.
Tea Party doesn't start till January! Check your premises.
Frankly, I hope it doesn't pass! This tax travesty is the primary reason for the bond sell-off. After they realized that this tragedy would result in $900 billion more in debt over the next two years, the formerly-asleep bond vigilantes are finally awakening to the reality that this debt will never be paid, and are now just beginning to extract their pound of flesh.
The problem with the tax back-room deal is that it still doesn't address SPENDING!
If half that new deficit is for this fiscal year, then it will guarantee a new record deficit before the end of this year's insanity, somewhere in the neighborhood of $1.75 trillion. That's HALF the federal budget for this year!
Please, someone! Wake me up! I'm in a living nightmare!! The America I used to live in has become an episode of the Exorcist. I'm in Linda Blair's bedroom watching that horrible spinning head and ugly engorgement, and I can't pinch myself and wake up!
You have used the correct word here - SPENDING. Up until now, the purpose of the proposed legislation was not to increase revenue. As such, it is incomplete. There must be increased SPENDING. Let the pork roll!
The Chris Van Hollen that predicted a democrat landslide in November 2010? That Chris Van Hollen? That paragon of objective, nonpolitical and unbiased prognostications?
I've got to buy more popcorn. If they vote this sucker down we'll see a nice 5 or 6 handle down move in the Dow.
...and fuck Van Hollen.
And fuck the rich bitch douchebags that have been paying next to nothing on dividend and cap gain income for years, laughing all the way to the bank.
Tax Negotiations: No help for 99ers
http://www.calculatedriskblog.com/2010/12/tax-negotiations-no-help-for-9...
Question?.
How will this affect IRA's?, if it passes, or if it doesnt?.
Any help appreciated.Need to move on this.
Thanks!