Nancy Pelosi: Screw The Rich!
By Wyatt Earp | December 4, 2010
Pelosi and most of the Democrats in Congress voted to extend the Bush tax cuts to the middle class, while eliminating them for those making over $250,000.
Thanks to her dogmatic rigidity and unquenchable passion for class warfare, House Speaker Nancy Pelosi continues insisting on extending the Bush tax cuts only for those who make less than $250,000. Mrs. Pelosi doesn’t have the votes to pass her proposal using a special House rule, the suspension calendar, which requires a super-majority and does not permit amendments. She might well lose if the bill proceeds through normal House rules—Democrats could join with Republicans to offer an amendment allowing an up-or-down vote on extending all the Bush-era tax cuts, which could pass.
Since neither Mr. Obama nor Mr. Reid seem willing to force her to back down, Congress could go home without stopping the largest tax increase in the nation’s history.
Class warfare at its finest. The silver lining? Harry Reid doesn’t have the votes to ram this through the Senate.
Now, I know what you’re thinking: “Wyatt, you’re not wealthy, so why do you care?” Here’s why. First, raising taxes during a recession is suicide. . When you raise taxes on the wealthy, they keep their money close to the vest and out of the economy.
Secondly, who do you thinks hires folks like you and me? The poor? When business owners – especially small business owners who will be affected by this – see their taxes raised, they cannot hire new employees and they cannot make payroll on their current employees. That means layoffs, kids.
Finally, these cuts are not just going to affect the eeeeevil rich:
The impact would be dramatic. H&R Block’s Tax Institute, for example, has estimated that a married couple earning $80,000 will receive $221.48 less in each bimonthly paycheck starting in January, just when Christmas bills show up.
We’re a one-income family. The missus is a stay-at-home mom, and while I make a pretty good living, I don’t make six figures. I am close to the above listed number, though, and with four kids, taking a $200 loss will really hurt. Personally, I would keep the Bush tax cuts for everyone, and work on something completely off the wall, like cutting spending. But that’s just me.
Topics: Politics | 16 Comments »
December 4th, 2010 at 2:38 pm
That picture…is Nancy auditioning for a remake of “Deep Throat”?
December 4th, 2010 at 3:09 pm
Proof, I thought she was auditioning for “the invasion of the body snatchers”. Donald Sutherland in the lead with Nancy, aka the wicked witch of the west.
December 4th, 2010 at 3:45 pm
Proof – Yeah, she’s swallowing our tax money.
Ralph – Or “V.” She’s about to eat a mouse.
December 4th, 2010 at 4:00 pm
I think the toadest snagged a fly out of mid-air. Couldn’t resist a passing treat
December 4th, 2010 at 4:27 pm
She’s giving Steny a demo…
December 4th, 2010 at 4:32 pm
If you had to choose one of the following, which would you choose:
A. Tax cuts continue for individuals with incomes over $200,000 and couples over $250,000. Everyone over this level goes back to the old tax rate.
B. Tax cuts expire for everybody.
December 4th, 2010 at 4:43 pm
Crusty – *slurp*
GroovyVic – Oh, that’s nasty. Thanks.
Randal – I would obviously go with “A,” but I don’t think there’s any way in Hell they would let these expire. It’s political suicide.
December 4th, 2010 at 4:49 pm
Let them posture Jan 4th the new congress swears in and votes retroactive return to Bush tax levels…… just goes to show you how much the dems hate the American people….
December 4th, 2010 at 5:08 pm
And why does it have to be just those two choices, Randall?
Care to explain how letting small businesses keep more of their money is adding to the defecit?
December 4th, 2010 at 8:25 pm
The V comment cracked me up. For some reason the Dems wanted to be on record as saying they want to raise taxes. Doesn’t seem smart to me, but then again most of what they do in Congress doesn’t seem smart to me.
December 4th, 2010 at 11:43 pm
Hey Randal… many small businesses are taxed at the individual rates at Subchapter S… You want to hit them with a 25 percent tax increase?
I thought so.
December 5th, 2010 at 12:08 am
Fenway, it’s two choices because that’s how I posed the question. You’re certainly free to ask your own questions.
Bob, yes I’m fine with it. Because those who make
$250,000I mean $1 million a year can find a way to afford it; but instead, hold Wyatt hostage for $200 bi-monthly. And you should thank me for deleting my long winded reply.December 5th, 2010 at 11:01 am
Randal – oh they’ll find a way to afford it, alright. by laying off people.
December 5th, 2010 at 11:05 am
oh, and it’s not just 250k+ or million plus, if the tax cuts expire, people making 50k could pay $2900 more, 100k could be paying $4900 more, 500k could be paying 10k more, and the 1 million bracket would be paying 50k more.
December 9th, 2010 at 2:08 am
– Agreed. They will find a way to afford it. Also, if they want to stay competitive and grow their businesses they’re going to keep hiring people or they’re going to become obsolete.
I totally doubt the argument that the rich pump more money into the economy than the middle class does. Give all us poor schlubs an extra $2K and we’ll go out and blow it on a flat screen tv. Give it to the rich and they’ll stuff it in their money market fund. That’s why they’re rich, because they’re not numbskull spend-a-holics like us.
Yeah, we all want to be rich some day. Well, I do anyhow. I just think that if you benefit from this awesome capitalist system of ours in order to get rich, then you have more of an obligation to give back to the system to keep it running smooth.
So pony up, Richy Rich. I want that damn TV before the next Superbowl comes along.
December 9th, 2010 at 2:12 pm
4 Master Baiter – You’re either mocking Randal’s ignorance, or clearly an idiot.
What on earth would posses that pea-sized mind of yours to believe that if you work harder and achieve something, you should be penalized more for it, by paying a higher percentage that someone else that didn’t achieve as much?
You contradict yourself, praising the concept of “this awesome capitalist system” of ours, by then espousing a socialist statement right after it.
Your class-envy “gimme gimme gimme” entitlement mindset makes you a spineless leech, living off the work of others.
Do you also live with your mom, in her basement? playing WoW and PS3 games all day? (while wishing you could do it on a big flat screen)
Cowboy the f*ck up and grow a set…
oh by the way – I have a nicely sized flat screen at home (50″), and I’m most certainly not rich. I bought it, myself, with my own money, that I worked for.