Soylent Orange
Posted: December 2, 2010 Filed under: Democratic Politics, legislation, Surreality, Team Obama | Tags: Bush tax cut extensions, John Boehner 34 Comments
The next Speaker of the House appears to be full of himself and ‘it’. Here’s a sample headline form the column The Capitolist at Politics Daily: John Boehner Calls Vote on Middle-Class-Only Tax Cut ‘Chicken Crap’. Yup, that’s fairly succinct.
Although no Democrats have agreed with Republicans to make the Bush tax cuts permanent for everyone, 31 moderate House Democrats signed a letter this week calling for a temporary extension of the tax cuts for higher incomes while the country continues to fight its way out of recession.
“I’m tying to catch my breath so I don’t refer to this maneuver that’s going on today as chicken crap. But this is nonsense, right?” Boehner said. “The election was one month ago. We’re 23 months from the next election and the games have already started to set up the next election.”
The source of Boehner’s ire was a House vote earlier Thursday that will prevent Republicans from offering their own bill to make all of the Bush tax cuts permanent for all Americans, including the highest earners, when the full chamber considers the middle-class cuts later in the day. The House voted 213 to 203 to vote only on the middle-class tax proposal, with 32 Democrats voting with the Republicans to keep the process open.
Earlier, Rep. David Drier (R-Calif.), who offered the Republican alternative, called the Democrats’ plans to vote only on their bill “a joke.”
“I think it’s very evident that this House could, with a majority vote, ensure that we don’t increase taxes on any Americans during these very troubling, difficult economic times,” Drier said. “The fact of the matter is that any member of this House that votes in favor of the measure before us is voting for a tax increase. They are voting in favor of increasing taxes on American businesses and investors.”
No Rep. Drier, you’re voting to return tax levels for the extraordinarily rich back to the extraordinarily job-abundant and budget-balanced Clinton years. There is absolutely no evidence that those tax cuts created jobs and there’s no evidence that not extending them to the richest will harm the economy. This is especially true since corporate profits are attaining record levels and corporate executives are getting record bonuses while we also maintain an incredibly unacceptable unemployment rate. You’re expanding the deficit for your donor’s interests. We’re not buying your B.S. for one moment.
So, where is our illustrious POTUS on this? The ONE every one was waiting for? Try Dana Bash’s CNN Political ticker headline on for size: Tax deal getting close, Democrats worried Obama may cave. Now, that’ s leadership that can!!!
Multiple congressional Democratic sources tell CNN that a compromise to extend all Bush-era tax cuts temporarily is getting close, and that there is increasing concern among Democratic lawmakers that the White House will not fight hard enough to get Democratic priorities in return.
“The goose is cooked,” said one senior Democratic source, “the question is what the larger deal is going to look like.”
Many Democrats are unhappy at the prospect of giving up on their goal of permanently extending tax cuts only for those making $250,000 and less. Sources in both parties say a deal in the works would extend all expiring Bush era tax cuts for all income levels for two or three years.
In exchange, Democrats are hoping to squeeze out of Republicans a wish list of concessions. Democratic sources say that list generally includes: A lengthy extension of unemployment benefits, without having to find offsets to pay for them; extending college tuition tax credits set to expire at the end of the year; extending the so-called “make work pay” tax credits also expiring December 31st; and the HIRE act, tax credits for businesses that hire unemployed workers.
So, it comes down to Let’s Make a Deal for middle class livelihoods by maintaining the status quo for the aristocracy. We get the kibble, they get the banquet.
More from Politico on what’s likely to happen come January when Agent Orange actually gets the gavel. Ask not on whom the gavel falls, it falls on you.
House Republicans seem intent on blowing up the staid appropriations process when they take power in January — potentially upending the old bulls in both parties who have spent decades building their power over the federal budget.
The plans include slicing and dicing appropriations bills into dozens of smaller, bite-size pieces — making it easier to kill or slash unpopular agencies. Other proposals include statutory spending caps, weekly votes on spending cuts and other reforms to ensure spending bills aren’t sneakily passed under special rules.
On some level, their plans may create a sense of organized chaos on the House floor — picture dozens of votes on dozens of federal program cuts and likely gridlock on spending bills. And don’t forget that a lot of these efforts will die with a Democratic-led Senate and a Democrat in the White House.
Once again, it’s the worst government that corporate money buys working to make our lives miserable.
Breaking NEWS: The house just passed tax cuts for those families making up to $250,000. The measure is expected to die in the Senate.
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Sky Dancing 
BREAKING NEWS: House of Representatives Passes Middle Class Tax Cut Extension
I am trying to find more, but Fox News is reporting this….now it goes to the Senate.
yeah, it’s just on twitter and the news feeds as a blurb right now
House Censure Vote on Rangel is coming up soon.
Rangel is speaking. This is sad.
I’ve been listening to it stream on CSPAN.
Yeah, I am watching Rangel now.
I like what Rep. Bobby Scott is saying. Pointing out the double standard about Newt only getting a reprimand.
yeah, he’s really doing an an excellent job
Jeepers!!! Peter King says he’s voting against censure!!!
Yes. Good on him. (i.e. Peter King)
Wow, King is getting so emotional…
On the cat food commission report, Coburn, Crapo Support Debt Panel Report, when I saw this article come through on the memorandum feed…I thought the headline read Cockburn and Crapo…
cockburn and crapo… heh
Here’s some good gossip: Graham: Feingold ‘may run against Obama in 2012’
Ooooooh!
Ohh, please, please, please…
BREAKING Just now: Speaker Pelosi just censured Rangel.
I think what they are doing to Rangel is disgusting! He already lost his chairmanship. That was huge.
That’s just not right.
It’s not right at all. I was disappointed in Rangel for quite some time when I found out, because it’s just never pleasant to have that veil removed , but then this process played out so political in recent months. Rotten and imho he’s obviously a scapegoat for a convergence of interests here.
They never censured DeLay and he’s been found guilty of all kinds of things.
I think of a certain politician nobody here would know who said “Everybody hates me except the people.”
I think of Bill Clinton, who suffered serious, deserved oprobrium. But look where he is now.
And I think of Charlie Rangel. Not quite everybody hates him: the people out there don’t hate him.
In the long run, Charlie’s rep will be as good or better than the characters who went in for overkill.
At least I hope so, and so I believe.
I love the title of this post.
thx
Yes me too…”Soylent Orange is Chicken Crap!” (Think Charlton Heston.)
Catfood Commission recommends death panels:
You know she won’t say anything because it’s got Republican written all over it.
Dak – interesting article in Bloomberg
China Is `Scared’ U.S. Policy Is Debasing Currency, Rogoff, Rickards Say
http://www.bloomberg.com/news/2010-12-02/china-is-scared-u-s-policy-is-debasing-currency-rogoff-rickards-say.html
I think this says that the China investment in our bonds is devaluing – could this be the confirmation of the currency dispute / war?
Could this mean interest will go up on our national debt held by off shore countries
No the interest rate for national debt depends on the going interest rates which the FED is holding low and could continue to do so.
China doesn’t like the decrease in the dollar’s value because of the way they peg currency to be worth less than ours. They have a lot of problems right now with inflation and a black market for currency because they’re trying to do the impossible. Peg currency, restrict capital flows, and have independent monetary policy. That’s called the Impossible Trilemma. They’re having trouble with hot money too. It’s forcing them to choose between pegging their currency and floating its value or experiencing these problems. This effectively checks their beggar thy neighbor policy that leeches growth from other countries through exports. It means they have to stimulate demand in their own country rather than snatch ours. They’re not keen on that.
If memory serves me right, China pulled 2 Billion out of Fannie and Freddie and invested in short term Treasuries. In general they have shifted from long term to short term treasuries gaining flexibility. I think that triggered the Fannie and Freddy take over. I think Paulson talked about it in his book
If they now start pulling their money, the FED would have to make up by printing more money and purchasing treasuries through the investment banks. I suspect that gets people nervous from inflation which is absolutely not the problem now.
Also – is China stimulating demand with infrastructure spending into the interior?
The term “State Capitalism” seems to be gaining prominance. Has that been a subject in economics? Of course Communism and Socialism is a form of State Capitalism, but the recent Chineese brand seems to be expanded into the capital markets which seems to be much more effective. They get forign capital to build their industry to enable thier export profits
Do we have academics that can discuss State Capitalism? I suspect our government is not capable of discussing it.
Complex subject, but I think you are the gal that can help us unravel this stuff.
Yes, state capitalism is getting some play in some circles but not the real mainstream journals yet. China’s not stimulating demand yet like it could because of the inflation problem but they are better than they were about that. A lot of folks are still studying the liberalization occurring right now in the Asian countries like Vietnam. That has more play in the US journals.
OT: Just noticed, with some surprise, the Confluence included in the links here. Went to the Confluence and saw Sky Dancing included in their links, with equal surprise.
Well good, I am glad SD and TC are not sworn enemies!
I missed watching ‘The Kennedy Detail’ series starting on the Discovery Channel last night. The program features interviews with JFK and Jackie Kennedy’s secret service detail. It’s based on the book by Gerald Blaine.
Going to go watch it now at 9 ET. Been gone, have not read much – dealing with mine own little toxic oil spill courtesy of my oil company spraying the outside of my home and several shrubs with #2 oil – a little more than 10 gals. Gawd it smells. bbl
oh, sheesh, I remember that small. be careful cleaning it up!