December 17, 2010, 06:10 pm
By Rep. Tom McClintock (R-Calif.)
Yesterday, the House debated HR 4853 -Tax Relief
Compromise. I voted AYE.
According to the CBO, this bill comprises $136 billion in
additional spending and $721 billion in tax relief. That means 15 percent of
this bill is spending – the other 85 percent is tax relief:
• No across the board increase in income tax rates next
• No AMT biting deeper into middle class families.
• A Death Tax that’s a third less of what it would
otherwise have been — threatening far fewer family farms and family businesses
The deal cut between President Obama and Republicans may
make sense in the short term; but it is expensive and will expand the deficit
without adding many jobs or fueling the economy. A divided Congress must now focus
on pro-growth policies, other than tax cuts. To that end, here are five ideas
which both parties could embrace as short-term economic measures, without
adding much to the debt.
When President Obama meets with business leaders at the
White House today, one thing will be clear: The United States is now an
economic superpower on the verge of decline. This is not an observation based
on casual public perceptions such as the current unemployment rate or tax
debates in Washington, but an analytical one stemming from real socioeconomic
trends, key performance indicators and the fact that policymakers are increasingly
looking the other way. In short, we’re losing ground and we’re letting it
Consider the following: The United States remains the
world's largest economy by multiples over even fast growing China. We are home to
the world's best universities and the most entrepreneurial, diverse and skilled
population to be found anywhere. Yet, governments across the globe have and
continue to spend billions of dollars trying to replicate global innovation
centers like those in Silicon Valley, manufacturing hubs like those in the
Midwest and worldwide financial markets similar to ones housed out of New York.
And they are succeeding.
December 13, 2010, 07:52 pm
By Senate Republican Leader Mitch McConnell (R-Ky)
Senate Republican Leader Mitch McConnell delivered the following remarks on the Senate floor Monday regarding a bipartisan agreement to prevent tax hikes:
Over the past few years, the American people have been engaged in a great national debate about the proper role of government. This debate is as old as our nation itself, but it has reemerged with new intensity amidst a prolonged economic downturn that continues to affect millions of Americans.
On the one side are those who argue that the solution to our present troubles lies in giving more to Washington. They say that if only Washington had had more power, we could have averted these challenges altogether; and that the only way to get us out and put us on a stronger economic footing is to hand over more of our freedoms — and more of our paychecks — to Washington.
On the other side of this debate are those who say that in order for individuals to prosper and move up the economic ladder, they must be free to take risks and they must be free to fail. They argue for government limits and restraint and for making as many decisions as possible close to home.
December 13, 2010, 04:22 pm
By Rep. Michele Bachmann (R-Minn.)
The current lame duck session should never have been necessary. Had Democrats taken their leadership of Congress seriously, they would have never pushed the crucial issue of tax increases to December.
Our nation is only weeks away from the largest tax increase in American history, but Democrat leaders in the House have yet to bring the extension of the current tax rates for all to a vote. Across the country, small business owners have been holding off on hiring new workers because they don’t know how large of a tax increase they’ll face in January. This massive tax hike should have been stopped months ago. Unfortunately, instead of addressing an issue that could have created jobs, the leaders of the House majority adjourned in September so their members could focus on saving their own jobs.
Even during this lame duck session, Democrats have failed to see the urgency of getting tax increases off the table. They’ve dithered with dozens of bills naming post offices and honoring athletes, while around kitchen tables, in company offices, and on family farms, taxpayers still don’t know what the tax rates will be in just a matter of weeks.
Republicans played President Obama like mortgage hustlers
played homeowners. Focus on the teaser rates, borrow more than you need and
trust us to work with you to refinance later.
December 10, 2010, 03:51 pm
By DNC Chairman Tim Kaine
ago, middle-class Americans were anticipating a painful hit to their personal
finances. Many faced the abrupt termination of unemployment benefits. The vast
majority faced the real pain of higher taxes and smaller paychecks. Republicans
were ready to inflict that pain — and, indeed, to blow a giant hole in
America’s fragile economic recovery — simply to secure tax cuts for the wealthiest
December 10, 2010, 02:20 pm
By Rep. John Lewis (D-Ga.)
hearing the details of the deal President Obama struck with Senate Republicans,
I arrived at my office dressed in black; a black suit, black shirt, black tie,
and even a black hat. At first
glance my staff thought I had adopted a new sleek GQ-look. I informed them that
my dress for the day was not a new look. I was dressed in all black to mourn
the American taxpayer. A bit dramatic perhaps but I am sincerely concerned.
Nevertheless, as I am ever the optimist, this op-ed is not a eulogy; it is a
9-1-1 call for emergency assistance.
The extension of President Bush’s tax break for the
richest 2 percent of taxpayers is the least popular part of the deal between
President Obama and the Republican congressional leadership. However, the plan
for a temporary reduction of 2 percentage points in the Social Security payroll
tax is by far the most dangerous.
December 09, 2010, 05:42 pm
By Rep.-elect Rob Woodall (R-Ga.)
The American voter is in control. If you have any doubt,
look at the presidential election of 2008 and the congressional election of
2010. When the American voter talks, the political elite listens, and we need
to look no further than this week’s tax cut compromise to see the result.