Scarborough Pushes Family Farm Myth While Attacking the Estate Tax

Grab bag of goodies in Obama's $858-billion tax plan
WASHINGTON (Reuters) - President Barack Obama's $858 billion tax package is a grab bag of goodies for investors, the affluent and workers, but the richer you are the more you get. Congress passed the bill after Liberal Democrats lost their bid to make it less generous to the wealthy, and Obama signed it into law on Friday. There is something in the bill for virtually every Taxpayer. Low and moderate income workers see a Payroll Tax cut, and expansion of a Tax Credit for Working Families -- prior...

House passes Obama's huge tax-cut bill
(12-17) 04:00 PST Washington - -- Enraging the liberal wing of his party, President Obama won the biggest Bipartisan victory of his presidency Thursday as the House passed his $858 billion, two-year Compromise with Republicans that temporarily extends all the Bush-era Tax Cuts and Unemployment Insurance. Furious Democrats - who in one of their last acts in the House majority found themselves extending the policies of former President George W. Bush - delayed passage until late in the evening, ...

Obama signs massive tax-cut bill, hails compromise with Republicans
Capping a giant end-of-year victory, President Obama on Friday signed into law a bill preventing the largest Tax Increase in history by extending the bush-era Income Tax cuts across the board for another two years. At a signing ceremony with Democrats and Republicans alike, the president called the package a "victory" for the American People. "The Legislation I'm about to sign is a substantial victory for middle-class families across the country," said Mr. Obama, flanked on a stage by Vice Presi...

Symbolism outweighed revenue in estate tax battle
From MSNBC.com's Tom Curry: House Democrats unhappy with the Tax Cut deal negotiated by President Obama managed to tie up the lower chamber with a procedural roadblock for most of the day Thursday but were unable to stop final passage of the bill that will be signed into law Friday afternoon. So what was all the fuss about? In a last gasp of Rhetoric over tax policy, Democratic opponents of the deal were battling over just about one percent of federal revenue in 2011. That's the money that woul...

Krauthammer ♥ Obama
As someone who savors the ironies of life and politics, I have gotten a kick out of seeing my conservative colleague Charles Krauthammer emerge -- temporarily, no doubt -- as the Obama White House's favorite columnist. For two weeks running, he has argued how brilliant Obama's Tax Cut deal is, how he swindled Republicans in Congress, and how he has immensely strengthened his hand for the 2012 election. "Holding no high cards," Krauthammer wrote today of the president, "he nonetheless managed to ...

House sends tax deal to Obama unaltered
WASHINGTON — A sweeping plan to extend expiring Tax Cuts and jobless benefits for millions of Americans was on its way to President Obama for his signature after the House of Representatives voted late Thursday night to pass the bill despite opposition from Liberal Democrats. House Democrats, navigating an attempted revolt within their own party that threatened to derail the measure, joined Republicans in turning back proposed last-minute changes to the Estate Tax that would have sent the b...

Insurgent Democrats slow tax bill in House
WASHINGTON — The House struggled to overcome an uprising by insurgent Democrats late last night and pass an $858 billion package of Tax Cuts and stimulus spending that would save nearly all Americans at least hundreds of dollars. The vote is critical to President Obama, who has made the case for Compromise over complaints from the base of the Democratic Party, which has been pressing him to fight harder and keep a campaign promise to allow Tax Cuts to expire for wealthy Americans. The Sen...

What the Tax Deal Means to Your Wallet
The pressure is off -- at least for now. With the Bush-era Tax Cuts extended for all Americans for at least the next two years under the law signed today by President Obama, government leaders have managed to postpone some tough decisions to be made surrounding the U.S. tax code until 2012. The law has been labeled “Compromise” Legislation, and for good reason. In exchange for the tax-cuts extension, Republicans agreed to extend jobless benefits for the long-term unemployed. They als...

What the Tax Deal Means to Your Wallet
The pressure is off -- at least for now. With the Bush-era Tax Cuts extended for all Americans for at least the next two years under the law signed today by President Obama, government leaders have managed to postpone some tough decisions to be made surrounding the U.S. tax code until 2012. The law has been labeled “Compromise” Legislation, and for good reason. In exchange for the tax-cuts extension, Republicans agreed to extend jobless benefits for the long-term unemployed. They als...

Your Tax Dollars at Work
Your Tax Dollars at Work On Friday, the House approved the $801 billion "Compromise" tax bill, sending it on to the White House for President Obama's signature. Over the next two years, that Budget-busting, gilded class giveaway will cost the Treasury $70 billion in revenue lost from the top 2% of Taxpayers and another $25 billion uncollected from the Richest estates in America. But sooner or later (sooner, if born-again Deficit hawks get their way), that bill come due and it will be paid by e...

Obama Salutes Compromise, Signs Tax Bill
(WASHINGTON) — President Barack Obama saluted a new spirit of political Compromise Friday as he signed into law a huge tax bill extending cuts for all Americans — including benefits for the rich that he and congressional liberals had denounced — along with billions of dollars in help for the Middle Class and jobless workers. "It's a good deal for the American People; this is progress and that's what they sent us here to achieve," Obama said as a rare Bipartisan assembly of lawma...

Obama could cash in on compromised U.S. tax-cut deal
President Barack Obama (3rd-L) flanked by Vice President Joe Biden (L) and members of Congress including Senate Minority Leader Mitch Mc Connell, signs the middle-class Tax Cut bill in the South Court Auditorium December 17, 2010 in Washington, DC. The measure would extend tax cuts for families at every income level, renew jobless benefits for the long-term unemployed and enact a new one-year cut in Social Security taxes that would benefit nearly every worker who earns a wage. Sheldon Alberts, P...

Returning NM congressmen vote against tax-cut bill
Two of New Mexico’s returning congressmen, Reps. Martin Heinrich and Ben Ray Luján, voted against the tax-cut bill passed late last night by a 277-148 vote, while the congressman who lost in November’s Elections, Rep. Harry Teague, voted in favor. The tax-cut plan, which already passed the Senate, came after an amendment to reduce the cut on the Estate Tax failed to garner enough support to be added to the bill. This would have most likely doomed the bill as it would have needed...

Obama signs tax package, clearing way for tax breaks, bigger paychecks -- and more federal debt
WASHINGTON -- President Barack Obama on Friday signed the sweeping tax package passed by Congress, the final step in clearing the way for continued Tax Breaks, extended Unemployment Benefits and other incentives aimed at letting you keep and spend more of your money. J. Scott Applewhite, AP President Barack Obama, joined by Republican and Democratic lawmakers, signs the Bipartisan tax package that extends Tax Cuts for families at all income levels, during a signing ceremony at the Eisenhower Ex...

What Will The New Tax Law Mean For You?
H&R; Block breaks it down Associated Press The law extends most of the Tax Cuts for two years, including lower rates for the rich, the Middle Class and the working poor, a $1,000-per-child Tax Credit, Tax Breaks for College Students and lower taxes on capital gains and dividends At the request of The Associated Press, The Tax Institute at H&R Block developed detailed estimates for how the new law will affect families at various income levels next year : —A single Taxpayer making $50,...

New tax Law: What it means for you
The new tax law signed by President Barack Obama Friday will spare millions of Americans from a big Tax Increase on Jan. 1. It also includes a new cut in Social Security Payroll taxes next year. Taxpayer: A single person with no Children, making $50,000 a year in wages. The taxpayer rents an apartment and pays $3,500 in college expenses. Tax bill without the law: $9,255. Tax bill with the law: $5,975. Why: Income taxes would be lower because of lower Tax Rates and a more generous Tax Credit ...

New tax Law: What it means for you
The new tax law signed by President Barack Obama Friday will spare millions of Americans from a big Tax Increase on Jan. 1. It also includes a new cut in Social Security Payroll taxes next year. A look at how typical Taxpayers will fare in 2011: ------ Taxpayer: A single person with no Children, making $50,000 a year in wages. The taxpayer rents an apartment and pays $3,500 in college expenses. Tax bill without the law: $9,255. Tax bill with the law: $5,975. Savings: $3,280. Why: Income taxes w...

Holiday tax bill is law _ help for rich and poor
WASHINGTON (AP) - President Barack Obama signed into law a huge, holiday-season tax bill extending cuts for all Americans on Friday, saluting a new spirit of political Compromise as Republicans applauded and liberals seethed. The benefits range from Tax Cuts for Millionaires and the Middle Class to longer help for the jobless. The most significant tax Legislation in nearly a decade will avert big increases that would have hit millions of people starting in two weeks on New Year's Day. Declared ...

Obama signs tax cut bill
Published: Dec. 17, 2010 at 5:18 PM U.S. President Barack Obama signs the middle-class Tax Cut bill in the Eisenhower Executive Office Building adjacent to the White House in Washington on December 17, 2010. Behind him are members of his administration and Members of Congress. UPI/Roger L. Wollenberg WASHINGTON, Dec. 17 (UPI) -- U.S. President Barack Obama Friday signed Legislation that extends Bush-era tax cuts for two more years and gives the unemployed 13 months more of benefits. The measure ...

And now what? Life after the tax deal
With the Obama-Republican tax deal having passed the Senate and the House as well, I guess I’ve gotten the Compromise I’ve been asking for. To be honest, I’d thought I’d feel better about it. In short, the tax deal gives both the Republicans and the Democrats the one thing they wanted most. For the Republicans, that one thing was extending the Bush Tax Cuts to everyone, especially protecting those making over $1 million a year in income. I emphasize the protection of thos...

Democratic no-shows as interesting as attendees at Obama tax signing
(CNN) - Not being in the picture at a Presidential bill signing may well speak a thousand words. Standing alongside President Obama as he signed the bill extending the Bush-era Tax Cuts into law on Friday were several members of Congress including Senate Majority Whip Dick Durbin, D-Illinois, and Senate Minority Leader Mitch McConnell, R-Kentucky among others. Yet there were many members of the Democratic Caucus who were noticeably absent from the ceremony- Speaker of the House Nancy Pelos...

Now its the Obama tax cut
Displaying a new style of compromising, President Barack Obama invited Democrats and Republicans alike to the White House on Friday for the signing of a massive tax package that frayed his relations with liberals, caused him to abandon a pledge not to extend Tax Cuts to the rich and heralded a new balance of power in the capital. The package retains Bush-era Tax Rates for all Taxpayers, offers 13 months of extended Unemployment benefits to the jobless and attempts to stimulate The Economy with a...

Immigration enforcement won't shift if DREAM fails
WASHINGTON—Immigration officers are unlikely to take extraordinary steps to arrest Young People in the country illegally should the DREAM Act fail in the Senate. Assistant Homeland Security Secretary John Morton said Friday in a Conference Call with reporters that immigration officers will continue their focus on immigrants who have committed crimes or are a threat to the public. He said they will handle cases of non-criminal immigrants on a case-by-case basis. The Senate has scheduled a ...

Reps. Paul Ryan, Chris Van Hollen Talk Policy, Politics; Justice Stephen Breyer on New Book
VAN HOLLEN: Yeah. WALLACE: I understand that you want to say, "Well, it's them blocking it," but the president has made a deal with Republicans. You're the odd man out -- you, the House Democrats. VAN HOLLEN: Well, the president made a deal with the Senate Republicans. WALLACE: Right. VAN HOLLEN: There's no doubt about that. As somebody who was involved in the official talks, not the back-channel discussions, I know -- and to the credit of the Republicans, they did not say that this better deal ...

Obama to sign tax package Friday afternoon
WASHINGTON -- President Barack Obama plans to sign the tax package passed by Congress at about 4 p.m. Friday afternoon, the final step in clearing the way to give Americans continued Tax Breaks, extended Unemployment Benefits and other incentives aimed at letting you keep and spend more of your money. Rep. Johnson defends Wikileaks founder Ga. Politics news, helpful links Every Georgian will feel the effects of the tax package. The centerpiece, of course, is the extension of current tax bracke...