Romney: Why tax cut is a bad deal

Romney Opposes Tax Cut Deal
Mitt Romney writes: Death and taxes, it is said, are life’s only two certainties. But in the wake of President Obama’s tax Compromise with congressionalRepublicans, only death retains the status of certainty: The future for taxes has been left up in the air. And uncertainty is not a friend of investment, growth and Job Creation. The deal has several key features. It reduces Payroll taxes, extends Unemployment Benefits and keeps current Tax Rates intact. So far, so good. But intermi...

Romney opposes tax deal, with care
Mitt Romney, in an op-ed whose delay -- the tax deal has been out for a few days now -- reflects the exquisite care he's taken with his position, opposes it: The deal has several key features. It reduces Payroll taxes, extends Unemployment Benefits and keeps current Tax Rates intact. So far, so good. But intermixed with the benefits are considerable costs of consequence. Given the unambiguous...

Pence Wont Vote for Tax Compromise
Rep. Mike Pence (R., Indiana) just announced that he will not vote for the tax Compromise. Saying that “the American People did not vote for more stimulus,”  and higher Deficits and Debt, Pence told Sean Hannity, “I will not vote for this tax deal.” “I’ve no doubt in my mind that the first order of business for the new Congress [if the compromise does not pass] … will be to enact a bill that extends all the current Tax Rates on a permanent basis,&r...;

Owens op-ed in support of tax-cut compromise
Rep. William L. Owens, D-Plattsburgh, has offered the following editorial about why he will be supporting President Obama's Compromise on the extension of the 2001 and 2003 Tax Cuts when it comes to the House floor for a vote soon. Like many of my Democratic colleagues, I have long supported making the Bush-era Tax Cuts for the Middle Class permanent while letting the Tax Cuts for the ultra wealthy expire. But unlike many in Washington, I have urged leadership of both parties to Compromise on ...

Romney comes out against Obama's tax cut deal
Former Massachusetts Gov. Mitt Romney (R) announced on Tuesday that he opposes the Tax Cut deal making its way through Congress. Romney, one of the top contenders for the 2012 GOP presidential nomination, said that President Obama's deal on tax cuts with congressional Republicans wouldn't add enough certainty to a struggling economy. "Given the unambiguous message that the American People sent to Washington in November, it is difficult to understand how our political leaders could have reach...

GOP contenders extra careful on tax deal
For a host of Republican presidential hopefuls, the White House-backed Compromise to extend the Bush Tax Cuts presents an unlikely dilemma: How to agree with President Barack Obama. That unfamiliar struggle unfolded Tuesday on the Senate floor, in media interviews and on newspaper op-ed pages, as the potential Candidates sought to play the angles, with some taking bright-line positions in opposition and others hedging their bets with statements notable for their caution. Continue Reading Te...

Romney announces opposition to tax deal, in major blow to GOP's united front
Republican presidential hopeful Mitt Romney on Tuesday came out against the tax deal reached between President Obama and congressional Republicans, saying the temporary nature of the Tax Rate extension would limit the positive economic impact and correspondingly make the Deficit worse. Romney’s move has the potential to spur broader opposition to the deal among Republican lawmakers than has previously been seen, and is clearly intended by the former Massachusetts Governor as a play for sup...

Romneys Triangulation
I understand the politics of Gov. Mitt Romney’s opposition to the tax deal. In an oped in the Dec 14 USA Today, Romney has aligned himself with Rush Limbaugh and the Wall Street Journal against the dealmakers in Congress. That’s the safest ground for Romney to stand, given (1) Republican Conservatives don’t trust him and need to be wooed and that (2) Republicans do trust him and expect him to govern responsibly whatever he may say on the Campaign Trail. If the deal were to fa...

Romney whacks tax deal
I must admit, when I saw that Mitt Romney took aim at the tax Compromise (NRO - The Corner), I was initially encouraged to support it. Then I read Romney’s column (USA Today), and I must admit, I think - finally - he understands supply-side economics. Here’s the money quote (emphasis added): In many cases, lowering taxes can actually increase government revenues. If new businesses, new investments and new hiring are spurred by the prospects of better after-tax retu...

Tax Cut Package Clears Key Senate Hurdle
A Controversial bill to renew Tax Cuts for all Americans cleared a crucial, procedural hurdle in the Senate Monday, setting the stage for a vote on final passage later this week. The vote was 83 to 15. Senate rules require at least 60 votes to defeat a Filibuster and advance the Legislation to a final vote. A majority of House Democrats will likely oppose the $858 billion bill when it reaches the House later this week. But House Majority Leader Steny Hoyer, D-Md., still believes that it will ult...

Tax package heads toward passage in Senate
President Barack Obama pauses during a statement on the Tax Cut bill at the White House on Monday, Dec. 13, 2010, in Washington. The tax package negotiated by President Barack Obama and GOP lawmakers is headed toward passage in the Senate even as House Democrats consider changes to the Estate Tax. The bill could be passed and sent to the House by Tuesday. The Senate voted 83-15 Monday evening to advance the package, which would provide a two-year reprieve from Tax Increases scheduled to take ef...

Thune: 'Easy' and 'expedient' to criticize negotiated tax deal
GOP Sen. John Thune on Tuesday hit back at opponents of President Obama's tax-cut Compromise, saying that their position represents support for higher taxes. Thune (S.D.) — a potential 2012 Presidential Candidate — appeared to take a veiled shot at some high-profile members of his own party, warning that the country cannot afford to let "the perfect becom[e] the enemy of the good" when it comes to the expiring Bush Tax Cuts. "Now, it's easy to stand on the sidelines and to criticize this...

Deficit Fraud Romney: Jobless Benefits Are Too Expensive, But The Bush Tax Cuts Increase Revenue
Yesterday, the Senate approved the tax deal that President Obama negotiated with Congressional Republicans by an 83-15 vote. The Legislation now moves to the House, where Democrats are saying that they might tinker with the Estate Tax cut that Republicans are insisting upon. But it isn’t only on the left that opposition to the deal exists. A few House Republicans have disparaged the deal for including too few Tax Cuts and too much help for the jobless. In a USA Today op-ed today, former ...

Dem Senators Want Last-Minute Changes To Tax Deal
WASHINGTON (AP) — The tax package negotiated by President Barack Obama and GOP lawmakers is headed toward passage in the Senate even as House Democrats consider changes to the Estate Tax. The bill could be passed and sent to the House by Tuesday. The Senate voted 83-15 Monday evening to advance the package, which would provide a two-year reprieve from Tax Increases scheduled to take effect on Jan. 1 at all income levels. “This proves that both parties can in fact work together to g...

Romney and Rove divided over tax cut deal
Republicans are increasingly divided on the deal to extend the Bush Tax Cuts that was hammered out by the Obama Administration and the Republican Congressional leadership. Potential 2012 Republican Presidential Candidate Mitt Romney urged Congress to vote against the bill in an op-ed published Tuesday in USA Today. The temporary nature of the deal is Romney’s main objection, he writes. He acknowledges the traditional Republican argument that all Tax Cuts are good because they spur economic...

Tax-cut deal clears big hurdle in Senate
In an overwhelming Bipartisan vote, the Senate on Monday cleared a path for the tax-cut deal President Obama struck with congressional Republicans last week, with even former staunch opponents of the Bush-era Tax Cuts voting for their extension. The 83-15 vote ends a Filibuster attempt by Liberal Democrats and gives a boost to the deal ahead of an expected showdown in the House this week, where Democratic leaders have said they will try to alter the $857 billion package. "This proves that both p...

Obama applauds Senate test vote on tax cut plan
(12-13) 14:45 PST WASHINGTON (AP) -- President Barack Obama is praising a test vote in the Senate supporting the Compromise tax plan he negotiated with Republicans. He says it proves both parties can work together. The president spoke at the White House on Monday after the Senate surpassed the 60-vote threshold it needed to advance the Legislation toward final passage. A vote that would send the proposal to the House is expected Tuesday. Obama says the plan would help create jobs by providing ...

Tax cuts or reduce deficit
Tax cuts or the Deficit? Cut taxes or pay down the Deficit? The option we face is whether to cut taxes in an attempt to boost The Economy by boosting spending. This includes Unemployment Benefits because the only way to have consumers is to create demand and we can only have demand if we have people with money to spend and things they need or want to buy. Unemployment benefits would result in an increase in demand which would help to grow the economy. On the other hand we have the deficit hawk...

Poll Watch: Washington Post/ABC News Survey on Negotiated Tax Deal
Washington Post/ABC News Survey on Negotiated Tax Deal For each item I name, please tell me if it’s something you support strongly, support somewhat, oppose somewhat or oppose strongly. Extending the Bush-era Tax Cuts for all Taxpayers, including wealthy people as well as the Middle Class Strongly support 30% Somewhat support 24% Somewhat oppose 16% Strongly oppose 27% Funding an additional 13 months of Unemployment Benefits for people who are out of work Strongly support 49% Some...

Tax plan to hit Mass. wallets
The political battle still raging in Washington over Tax Cuts could have a dramatic effect on Bay State billfolds no matter how it is resolved, local experts said. Beacon Hill Institute boss David Tuerck noted that the Bay State economy relies heavily on high-tech investment, which theoretically will be fueled by maintaining the tax cuts. “It’s important for taxes to be kept low and to be kept low with predictability going into the future,” Tuerck said. But it isn’t as m...

Al Franken Holds His Nose And Votes For Obama's 'Bad Policy'
Sen. Al Franken (D-MN) voted to end debate on the Bush Tax Cut Compromise yesterday, but he's not happy about it. In a strongly-worded statement sent to his supporters today, Franken pokes at President Obama for negotiating the deal, which he called "bad policy." "A lot of people are unhappy that the President punted on first down, and I'm one of them," Franken wrote in the message to supporters. "Extending the Bush Tax Breaks for the super-wealthy will explode our Deficit over the next two ye...

Franken, Klobuchar back unemployment extension/tax-cut compromise
Supporters of President Obama’s Tax Cut Compromise with GOP Senate leadership defeated a threatened Filibuster by mostly Liberal Democrats through the use of Cloture Monday evening. Minnesota Democratic Sens. Al Franken and Amy Klobuchar were among those voting for cloture. The bill could see an Up or Down vote as soon as today. Klobuchar said she voted to advance the bill because of the middle-class tax cuts contained in it. Franken said he supports the measure reluctantly, citing an exte...

Thune: Tax deal critics want higher taxes
South Dakota Sen. John Thune took a veiled swipe at Mitt Romney on the Senate floor Tuesday, saying it’s “easy” and “possibly even politically expedient to stand on the sidelines and criticize” the Tax Cut proposal backed by President Obama and GOP congressional leaders. “Inaction is not an option, and advocating against this proposal is no different than advocating for higher taxes,” Thune said in a Tuesday afternoon Speech. Thune voted to advance th...

Conservatives Against the Tax Cut Deal
There is growing conservative opposition to the Tax Cut deal, to the point that some are speculating the Tea Party will punish Republicans who vote yes. Of the Republican senators who voted against the deal, only George Voinovich has a history of voting against tax cuts. The rest were Conservatives like Tom Coburn and Jim DeMint. The trouble is the Deficit spending that has been included to win Democratic votes: an unfunded Unemployment extension, an Ethanol boondoggle, and other government go...

Senate Moves Ahead on the Tax Deal (Updated)
The Senate is taking its first step to preserve the Bush-era Tax Cuts — and extend Unemployment Benefits for millions. At least 62 senators have voted to start debating the bill that keeps Tax Cuts in place for the Middle Class and the wealthiest Americans, meaning the measure will not be filibustered. The bill also cuts inheritance taxes and ensures emergency Unemployment relief will last another 13 months. It also includes a 2% tax holiday on Social Security Payroll taxes, and would ad...