A senior White House adviser says it is time to move forward with the compromise. CNN Wire Staff Washington (CNN) — Senators are expected to open debate on the tax compromise reached by President Barack Obama and Republicans Monday, but House Democrats will likely try to change the deal, one of their leaders said … Read More
Tag Archives: Barack Obama
“I Now Hope This Deal Fails”: Conservatives Divide
“I Now Hope This Deal Fails”: Conservatives Divided on Tax Compromise
http://mediamatters.org/research/201012120006
In the wake of last week’s announcement of a compromise between the Obama administration and congressional Republicans on the extension of the Bush tax cuts, the leaders of the right-wing media has fractured into a camp that supports the deal and a camp that fervently opposes it.
Gingrich, Kristol, Wall Street Journal Line Up In Favor Of Deal That Is “Good For The Economy”
Newt Gingrich: Tax Deal Is “A Great Victory For American People And GOP Leadership.” From former Speaker Newt Gingrich’s Twitter feed on December 7:
Bill Kristol: “This Is A Very Good Deal From A Conservative Point Of View.”
CHRIS WALLACE: Is this deal good for the economy? And what about the question of adding basically another trillion dollars to our debt?
KRISTOL: Yes it’s good for the economy. Keeping– Some of us have been arguing for a year that keeping current tax rates where they are is much better than allowing them to rise. A cut in the payroll tax cut– the payroll tax has been something conservatives have always thought was one of the best taxes you could cut on labor, especially– It’s a tax cut on labor in a time of high unemployment. The estate tax is what Jon Kyl, a leading Senate conservative, has been for, that tax cut, the estate tax compromise is what he’s been arguing for for years. So, there are a few things in the deal that most of the conservatives won’t like, but this is a very good deal from a conservative point of view. Jim DeMint, who’s against the deal because he’s against sort of any deal, I think honestly, Jim DeMint said that Senator McConnell had gotten “the best deal we could get,” he said. I agree with that. [Fox News Sunday, 12/12/10]
Wall Street Journal: “This Deal Is Superior To Anything We Could Have Imagined Six Months Ago.” From an editorial in the December 8 edition of the Wall Street Journal:
Should Republicans have held out for more, since they would return in January with a stronger position? We wish they had won a longer extension, kicking the next possible tax hike further into the future. As it is, Mr. Obama made clear on Monday that he’ll try again to raise taxes in 2013, figuring he’ll be politically stronger if the economy improves. The growth policy victories here are partial and temporary.
Yet this deal is superior to anything we could have imagined six months ago. Much credit goes to Mitch McConnell and Senate Republicans for holding together against the class war attacks of Chuck Schumer and other Democrats. By holding firm, they divided the opposition. This proves again that Republicans win the economic debate when they make the case for lower taxes for everyone in the name of faster growth and job creation. [Wall Street Journal, 12/8/10]
Limbaugh, Palin And Others Say “Tax Compromise Must Now Die”
Erickson: “The Tax Compromise Must Now Die.” In a December 10 post on RedState.com, blogger and CNN contributor Erick Erickson said that the tax deal reached by President Obama and the Republican Party was “loaded up with budget busing pork of ridiculously absurd levels” and urged readers to call their senators and tell them to oppose it. He wrote:
But the deal must now die. It must now be opposed by Republicans. Released now in print, the legislation is loaded up with budget busting pork of ridiculously absurd levels. The attachments to the compromise represent everything wrong with Washington. Many of them mirror the same porkulus spending in TARP.
The GOP must now say no. GO TO THE REDSTATE ACTION CENTER RIGHT NOW and call your Senator.
The legislation contains a huge amount of pork, some in the form of tax extenders that only the most coin-operated of conservatives can really defend. It even has ethanol subsidies. Put it to you this way — with the logic of those vocally calling for support of these earmarks, if the Democrats gave a tax credit for abortion, you’d have these same conservative groups defending them. No, that is not an exaggeration.
The tax compromise already busted the budget with the unemployment extension. Ultimately, all the Republicans were getting anyway was keeping current income tax rates.
They now need to walk away from the table. Call now. [Redstate.com, 12/10/10]
Limbaugh: “I Now Hope This Deal Fails.” From the December 10 edition of Premiere Radio Networks’ The Rush Limbaugh Show:
It’s hard to break old habits, folks. Especially in Washington. Even the Republican leaders have been part of this system for decades. False deadlines, foolish deals: they’ve become the rule, and it need not be. I now hope this deal fails. I say it, directly and officially.
If the deal fails, the Democrats are in control, so it is they who will be raising taxes. Let the tax rates go up on January 1. Let ’em go up. Wait for our cavalry to show up and deal with this the right way. They had two years to deal with this. They’ve had the two years of Obama’s presidency to deal with this. And they haven’t. On purpose. They want the tax rates to go up. And we’re buying– They’re selling, really, in any great shakes, we agree to two years of the tax rates not changing? How about permanently, the tax rates not changing? Then we’ll talk to you.
Two years? And we’ve got thirteen more months of unemployment? But that– The only way you can describe that thirteen months is, look at all the spending that is. That’s new spending. Three years. Now, of unemployment compensation benefits. In exchange for a 35% death tax, a 2% cut in the payroll tax, and two years of tax rates on income not changing.
They had two years to deal with this. The new Congress coming in will fix it. If the GOP leadership will allow it. [Premiere Radio Networks, The Rush Limbaugh Show, 12/10/10]
Krauthammer: Tax Cut Deal Is “The Swindle Of The Year.” In a December 10 Washington Post column, Krauthammer wrote “Barack Obama won the great tax-cut showdown of 2010.” He went on to write:
If Obama had asked for a second stimulus directly, he would have been laughed out of town. Stimulus I was so reviled that the Democrats banished the word from their lexicon throughout the 2010 campaign. And yet, despite a very weak post-election hand, Obama got the Republicans to offer to increase spending and cut taxes by $990 billion over two years. Two-thirds of that is above and beyond extension of the Bush tax cuts but includes such urgent national necessities as windmill subsidies.
No mean achievement. After all, these are the same Republicans who spent 2010 running on limited government and reducing debt. And this budget busting occurs less than a week after the president’s deficit commission had supposedly signaled a new national consensus of austerity and frugality.
Some Republicans are crowing that Stimulus II is the Republican way – mostly tax cuts – rather than the Democrats’ spending orgy of Stimulus I. That’s consolation? This just means that Republicans are two years too late. Stimulus II will still blow another near-$1 trillion hole in the budget.
At great cost that will have to be paid after this newest free lunch, the package will add as much as 1 percent to GDP and lower the unemployment rate by about 1.5 percentage points. That could easily be the difference between victory and defeat in 2012.
Obama is no fool. While getting Republicans to boost his own reelection chances, he gets them to make a mockery of their newfound, second-chance, post-Bush, Tea-Party, this-time-we’re-serious persona of debt-averse fiscal responsibility.
And he gets all this in return for what? For a mere two-year postponement of a mere 4.6-point increase in marginal tax rates for upper incomes. And an estate tax rate of 35 percent – it jumps insanely from zero to 55 percent on Jan. 1 – that is somewhat lower than what the Democrats wanted. [Washington Post, 12/10/10]
The Hill: Palin “Came Out Against The Tax-Cut Deal President Obama Brokered With Republicans.” From a December 8 blog post on TheHill.com:
Former Alaska Gov. Sarah Palin (R) on Wednesday came out against the tax-cut deal President Obama brokered with Republicans.
The potential 2012 presidential candidate endorsed a Twitter post that applauded Sen. Jim DeMint’s (R-S.C.) criticism of the deal.
“Thank you, @JimDeMint – DeMint comes out against tax deal, says GOP must do ‘better than this,'” reads the message from conservative commentator Jedediah Bila. [TheHill.com, 12/08/10]
From Sarah Palin’s Twitter feed, December 8:
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INTERNATIONAL RELATIONS: START To End
One year ago today, President Obama accepted the Nobel Peace Prize, which was given in large part because of his commitment to nuclear arms reduction. Today, the administration’s signature foreign policy achievement, the successful negotiation of a new Strategic Arms Reduction Treaty (START) with Russia, which has been essential to rehabilitating relations between the two countries, is languishing in the Senate. Why? Republicans have consistently sought to delay and obstruct the treaty, but this opposition has now faded. It is now a question of time and whether Majority Leader Harry Reid will bring New START to the floor of the Senate. The treaty, if brought up, likely has the 67 votes to achieve ratification. But thus far, START has been put off. Meanwhile, the Senate is taking the weekend off with just one week left to go until the scheduled end of the session. START is critical for our national security and advances a major progressive priority of reducing the number of nuclear weapons in the world. Today, leaders from the national security, scientific, and religious communities are sending a letter to Reid urging him to “take up and approve New START now, if need be by extending the Senate in session beyond December 17.”
IT HAS THE VOTES: Early in the lame duck session, Sen. Jon Kyl (R-AZ) “blindsided” the White House when he broke off months of negotiations and insisted on a delay of New START. Instead of caving, the White House fought back. The reaction was fierce. In the last month, more than 40 editorial boards from newspapers around the country urged ratification and ripped Kyl for putting politics above America’s national security. Republican threats to delay also exposed a deep rift within the Republican establishment, as a who’s who of Republican officials have come out urging ratification now, including this week President George H.W. Bush and former Secretary of State Condoleezza Rice, who joined Henry Kissinger, Colin Powell, James Baker, among others, in support of New START. These Republican officials join the U.S. military establishment and our Eastern European allies that live in the shadow of Russia in support of START. A recent CBS News poll found that 82 percent of the American people support the treaty. Against this wave of support, Republican intransigence has softened and now a split has emerged with a significant number of the Republican caucus favor a vote on START in the lame duck session — more than enough to ratify the treaty. Just this morning Olympia Snowe and Susan Collins said they will support START.
REID CAN FORCE A VOTE: Unlike normal Senate legislation, which can be blocked by a filibuster that requires 60 votes to overturn, a treaty only requires 50 votes to proceed to debate and a vote. The New START treaty was therefore not included in the letter from the Senate GOP caucus that threatened to block any legislation that was brought up before tax cuts. Unlike Don’t Ask Don’t Tell, where Republican senators who claimed to support repeal voted to filibuster on process grounds, on START, Republicans will have to vote on the actual treaty and can’t hide behind procedure. However, Foreign Policy’s Josh Rogin reported last night that some Republicans attempt to offer a number of “treaty killing” amendments that would alter the treaty and therefore require renegotiating with Russia. Yet, these amendments can be voted down by 50 votes and were already overcome during the vote in the Senate Foreign Relations Committee through the work of Sen. Richard Lugar (R-IN). Republicans could use the amendment process in an effort to drag out the process, but this is why Reid should make clear that they would only be delaying their Christmas vacation.
DANGER OF DELAY: Some Republicans have suggested that START should be delayed for just a few months until January or February when a new Senate is sworn in. This is a ruse. At every step of the ratification process, Republicans — led by Kyl — have urged delay. Kyl was actually for holding a vote during the lame duck session, until, of course the lame duck session arrived. Furthermore, the willingness to offer treaty-killing amendments only further casts doubt on Kyl’s intentions. At the very least a delay in the treaty ratification process, which has taken nine months, would start from scratch. The new make up of the Senate would also make getting the 67 votes for ratification much harder and would make the ratification process much more dependent on Kyl, likely leading to only more leverage to extort nuclear pork funding. In the end, a delay would in all likelihood mean the death of the New START treaty. This would have huge consequences for our relationship with Russia, which is critical to dealing with Iran and supplying our troops in Afghanistan. Furthermore, the collapse of the verification measures that monitor Russia’s nuclear arsenal were in place under the original treaty, could eventually upset nuclear stability and lead to significant uncertainty in nuclear relations. Failure to ratify START would also send shockwaves around the world and would be seen as the U.S. putting a knife in the back of the whole nuclear non-proliferation regime. The consequences of delay and defeat of New START are grave.
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Stop the Slaughter
| The Japanese fleet is planning to slaughter more than 1,000 whales this season.
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As you read this e-mail, the Japanese whaling fleet is steaming towards the Southern Ocean to begin their annual whale slaughter. Their planned death “quota” this season: nearly 1,000 minke whales, 50 humpback whales, and 50 endangered fin whales.
We must stop this massacre now.
During the 2008 campaign, then-Senator Obama said, “As president, I will ensure that the U.S. provides leadership in enforcing international wildlife protection agreements, including the international moratorium on commercial whaling.” Three more whaling seasons have come and gone since Obama spoke those words, and no change has been made.
Please rush your most generous contribution as we put pressure on President Obama to fulfill his campaign promise!
“Allowing Japan to continue commercial whaling is unacceptable,” as President Obama himself has stated, and Greenpeace is rallying support to put a stop to the slaughter, once and for all.
Commercial whaling is not only unacceptable—it’s a violation of international law.
Picture a Japanese harpoon ship speeding through the Southern Ocean. Suddenly, the harpooner spots a mother whale and her calf. The sounds of the ocean are drowned out by the blasts of exploding-tip harpoons being fired at the whales.
The pair struggles to free themselves from the harpoon lines for nearly an hour, desperately thrashing their tails in the water, before a gunman finally steps onto the deck and shoots them dead. The mother whale and her baby are dragged up the ship’s slipway, leaving a long trail of blood behind them.
Much to our frustration, in a few days time this tragic scene will play out in the Southern Ocean over and over again. Greenpeace needs your help, and the help of President Obama, to put an end to the slaughter of our oceans’ most unique, intelligent, and emotional creatures.
Together, we can let Japan know that commercial whaling has no place in the 21st Century.
| For the whales, |
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| John Hocevar Ocean Campaigns Director |
PS: Greenpeace cannot save the lives of these whales—or continue our campaigns to stop global warming, protect our forests, and defend our oceans—without your support. Please rush your emergency contribution today!
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The Obameter: Tracking Obama’s Campaign Promises …from PolitiFact
PolitiFact has compiled about 500 promises that Barack Obama made during the campaign and is tracking their progress on our Obameter. We rate their status as No Action, In the Works or Stalled. Once we find action is completed, we rate them Promise Kept, Compromise or Promise Broken.
No. 2: Eliminate all oil and gas tax loopholes
“Eliminating special tax breaks for oil and gas companies: including repealing special expensing rules, foreign tax credit benefits, and manufacturing deductions for oil and gas firms.”
No. 3: Eliminate capital gains taxes for small businesses and start-ups
“Barack Obama understands that small businesses are the engines of our economy, and he will eliminate all capital gains taxes on investments in small and start-up firms.”
No. 4: Extend child tax credits and marriage-penalty fixes
Will extend aspects of the Bush tax cuts such as child credit expansions and changes to marriage bonuses and penalties.
No. 5: Expand the earned income tax credit
Expand the earned income tax credit for workers without children and taxpayers with more than three children. Equalize threshholds for married filers and head of household filers.
No. 6: Create an Advanced Manufacturing Fund to invest in peer-reviewed manufacturing processes
“Will create an Advanced Manufacturing Fund to identify and invest in the most compelling advanced manufacturing strategies. The Fund will have a peer-review selection and award process based on the Michigan 21st Century Jobs Fund, a state-level initiative that has awarded over $125 million to Michigan businesses with the most innovative proposals to create new products and new jobs in the state.”
No. 7: Double funding for the Manufacturing Extension Partnership, a program that encourages manufacturing efficiency
“The Manufacturing Extension Partnership (MEP) works with manufacturers across the country to improve efficiency, implement new technology and strengthen company growth. This highly-successful program has engaged in more than 350,000 projects across the country and in 2006 alone, helped create and protect over 50,000 jobs. But despite this success, funding for MEP has been slashed by the Bush administration. Barack Obama and Joe Biden will double funding for the MEP so its training centers can continue to bolster the competitiveness of U.S. manufacturers.”
No. 8: Include environmental and labor standards in trade agreements
“He will use trade agreements to spread good labor and environmental standards around the world”
No. 10: Expand the child and dependent care credit
Expand and make refundable the child and dependent care credit.
No. 11: Require publicly traded financial partnerships to pay the corporate income tax
Require publicly traded financial partnerships to pay the corporate income tax.
No. 12: Create an international tax haven watch list
Create an international tax haven watch list of countries that do not share information returns with the United States.
No. 14: Close loopholes in the corporate tax deductibility of CEO pay
Congress has set rules regarding the tax deductibility of the salaries of CEOs, but forms of non-salary compensation have become popular. Obama would look at revamping definitions of compensation.
No. 15: Create a foreclosure prevention fund for homeowners
Create a $10 billion fund to help homeowners refinance or sell their homes. “The Fund will not help speculators, people who bought vacation homes or people who falsely represented their incomes.”
No. 16: Increase minority access to capital
“Strengthen Small Business Administration programs that provide capital to minority-owned businesses, support outreach programs that help minority business owners apply for loans, and work to encourage the growth and capacity of minority firms.”
No. 17: Require economic justification for tax changes
Adopt the economic substance doctrine, a policy that states that tax changes must have significant economic justification, as a federal law.
No. 18: Provide option for a pre-filled-out tax form
Will direct the Internal Revenue Service to “give taxpayers the option of a pre-filled tax form to verify, sign and return to the IRS or online. This will eliminate the need for Americans to hire expensive tax preparers and to gather information that the federal government already has on file.”
No. 19: Create a mortgage interest tax credit for non-itemizers
Create a refundable tax credit equal to 10 percent of mortgage interest for nonitemizers, up to a maximum credit of $800.
No. 20: Make permanent the Research & Development tax credit
The Research & Development tax credit and the renewable energy production tax credit are intended to spur innovation in the private sector, but the tax credits have expiration dates under current law. Obama would make them permanent.
No. 21: Require automatic enrollment in 401(k) plans
Automatic enrollment in 401(k) plans for workers whose employers offer retirement plans.
No. 22: Require automatic enrollment in IRA plans
Require employers who do not offer retirement plans to offer their workers access to automatic IRAs and contribute via payroll deduction.
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