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Wednesday, May 03, 2006

Your children's campaign contribution to Congressional Republicans
Posted by Jill | 4:42 AM
These guys will do ANYTHING to try to keep their seats -- including continuing to saddle America's children -- the children they claim to worship -- with debt they'll never be able to pay off:

President Bush and congressional Republicans agreed yesterday on a $70 billion package of tax-cut extensions that they hope will help halt the deterioration of their political fortunes.

The package would extend the 2003 cuts to the tax rates on dividends and capital gains, continue tax breaks for small-business investment and the overseas operations of financial service companies, and slow the expansion of the alternative minimum tax, a parallel income tax system that was enacted to target the rich but is increasingly snaring the middle class.

But the agreement cannot come to a vote until House and Senate negotiators agree on a second piece of legislation containing many of the proposed tax breaks left out of the compromise, according to legislative aides. And the compromise is sure to spark a new round of recriminations from Democrats, who say the Republican Party continues to favor wealthy investors over lower- and middle-income workers, without regard to a budget deficit that is expected to reach $370 billion this year.

For the Republicans, the tax cuts may have to substitute for other measures proposed last week to help consumers cope with gasoline prices. Proposals including a federal gas tax holiday and a $100 rebate have run into a buzz saw of opposition from businesses and oil interests as well as consumers. House Majority Leader John A. Boehner (R-Ohio) dismissed the Senate Republicans' proposed $100 rebate as "insulting," adding that his own constituents considered it "stupid."

With little progress on the energy front, Bush summoned Republican leaders and tax writers to the Oval Office yesterday to force an agreement on a tax bill that has languished since late last year. The president is scheduled to speak today on the economy and taxes, and he implored lawmakers to deliver an agreement he could tout.


Because after all, it's all about the politics, right? The fact that this will plunge this country even deeper into debt, and even MORE beholden to the Chinese, doesn't come into play at all...
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