Republicans Ready to Block Obama Plan to Let Tax Cuts for the Wealthiest Expire

Mitch McConnellSenate Republicans will likely block President Barack Obama's plan to effectively increase taxes for the wealthiest U.S. citizens by allowing a tax cut enacted by George W. Bush's administration to expire at year-end. Reuters reported that Republicans have enough votes to prevent Obama from letting the tax cuts expire while extending those cuts for the middle class, citing Don Stewart, a spokesman for Senate Republican Leader Mitch McConnell (R-Ky., pictured).

No. 2 House Republican Eric Cantor (R-Va.) today suggested a vote on whether to extend the Bush tax cuts. In a statement, he called the prospect of raising taxes "a nonstarter," Reuters said.

The Obama administration and Senate Republicans are deadlocked on the issue of where to direct tax cuts, while some Senate Democrats have expressed concern that letting the Bush tax cuts expire would further hamper efforts to get the U.S. economy recovering more strongly, according to Reuters.

The administration has estimated that extending tax cuts for the two top income groups would cost the country $700 billion over the course of a decade, the wire service reported. Obama last week said Republicans were "holding hostage" middle-class tax cuts in order to benefit wealthier taxpayers.


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wolfpack130

THE BELIEF THAT THE WEALTHY NEED NOT BE TAXED NOR GOVERNED, BECAUSE THEY ARE NATURALLY BENEVLENT, AS THEY REALIZE THEY ARE TRULY BLESSED,HAS OUT LIVED ITS HYPOCRACY, THE TRUTH IS, THE COUNTRY RELIES ON THE TAXES OF THE WEALTHY TO KEEP OUR WELL OILED MACHINE RUNNING SMOOTHLY AND EFFICIENTLY. WE THE PEOPLE ARE READY WILLING AND ABLE TO GIVE OUR BLOOD, SWEAT AND TEARS, BUT WE NEED THE WEALTHY TO PUT SOME CASH IN THE OLD COFFERS. SO THAT ALL OUR LABOR IS NOT IN VANE.

September 19 2010 at 7:57 AM Report abuse rate up rate down Reply
sh101175

Vote democrat in the next election, if you vote republican the middle class will be screwed. Vote democrat,democrat,democrat,democrat.

September 18 2010 at 4:17 PM Report abuse rate up rate down Reply
jeffcsgrnd

this country would be alot better if media and goverment employes would just quit there jobs to do something more productive in society. this country is full of nitwits trying to make an easy buck

September 18 2010 at 4:15 PM Report abuse rate up rate down Reply
rp5599

WAY TO GO REPUB.....DON'T LET HIM GET AWAY WITH ANOTHER THING!!!!

September 18 2010 at 3:29 PM Report abuse rate up rate down Reply
jdrumerrnr

The rich are saving their tax credit, not spending it.

September 14 2010 at 7:43 AM Report abuse rate up rate down Reply
jdrumerrnr

Of course they are.

September 14 2010 at 7:36 AM Report abuse rate up rate down Reply
phillyboy

It's AMAZING that the GOP just does not UNDERSTAND that TAX CUTS FOR THE RICH DO NOT CREATE JOBS even after 8 YEARS OF THE BUSH FAILURE.

September 14 2010 at 3:43 AM Report abuse rate up rate down Reply
1 reply to phillyboy's comment
Ross

The sick thing is that they do - and their goal is to destroy the middle class. We'll have a return to the "company towns". No more government controls - get rid of OSHA, the FDA, and all bank regulations. Steal from the middle class to give to the rich. The new GOP motto.

September 30 2010 at 5:42 PM Report abuse rate up rate down Reply
purple

The Left/Right paradigm stinks!

September 13 2010 at 8:31 PM Report abuse rate up rate down Reply
otterdad48

Does anyone actually expect the republicans to downsize government? They have not done so in the past when they controlled everything. Only Beckerheads and tea party nitwits think that laying off public workers into high unemployment would boost the economy. My favorite republican quote about the deficit came from Cheney who said, "Deficits don't mean anything."

September 13 2010 at 7:53 PM Report abuse +3 rate up rate down Reply
itala2

It is interesting that the Republicans that use the word "elitist" so freely as an insult, keep on protecting their elitist corporations over and over again. They also have mega rich candidates running, like the one in California who owned Ebay as an example. Supproting them are people like Beck who is worth a few hundred million, Palin who must be laughing all the way to the bank and Fox news who is owned by Murdoch and the Saudi prince who is the single largest contributor to the mosque.

September 13 2010 at 6:27 PM Report abuse +7 rate up rate down Reply
2 replies to itala2's comment
gilbert513

Just who are these elitist corporations you refer to? I worked for a big corp for 30 years.....these comapanies are nothing more than thei remployees, retirees and shareholders...most of whom are holding shares of stock in their retirement plans. STOP demonizing what you don't understand!

September 13 2010 at 6:50 PM Report abuse -4 rate up rate down Reply
jdrumerrnr

Sure, and HP can let thousands go from their job and turn around and buy yet another company for 1.5 billion dollars.

September 14 2010 at 7:39 AM Report abuse rate up rate down Reply