McCain and Kyl vote with Democrats in support of Obama scheme
If you’ve been wondering which U.S. Senators voted this morning in favor of allowing income taxes to rise sharply for the first time in two decades — fulfilling Barack Obama’s class warfare/redistribution pledge to raise taxes on American achievers and job creators — you can see their names and votes here.
The bill, HR 8, previously known as the Tax Relief Extension Act, should more aptly be called the Tax Relief Extortion Act, since it included $600 billion in tax hikes. It now carries the far more politically correct title: American Taxpayer Relief Act of 2012.
This scheme will add $3.9 trillion to the deficit, with a mere $1 in spending cuts for every $41 in tax increases. That translates to $15 billion in spending cuts while increasing tax revenues by $620 billion—a 41:1 ratio of tax increases to spending cuts
As an unrestrained Obama continues to spend at breakneck speed, this deal brokered by VP Joe Biden and Senate Minority Leader Mitch McConnell (R-KY), passed 89 to 8. It now heads to the House, where leaders have not guaranteed passage, but top officials believe it could win passage in the next few days.
In the House, political realities have repercussions at the ballot box in less than two years. Senators are safe for six long years. They are counting on American memories getting clogged with football and lulled into submission by their favorite Hollywood celebrities, who coincidently are mostly high-dollar donors to liberal causes and candidates.
House GOP surrender to tax increases and spending increases; AZ Republican contingent stays the course
Republicans in the House of Representatives abandoned any semblance of leadership to add spending cuts to the farcical “fiscal cliff” bill and agreed last night to a undemanding yes-or-no vote on the bill that passed the Senate earlier yesterday.
The bill’s passage on a 257-167 vote in the House of Representatives, a chamber controlled by Republicans, bestows a major victory on Obama, who crafted a class warfare scenario to win re-election — campaigning on higher taxes on what he termed “the wealthiest Americans” or those who needed to “pay their fair share.” After all, they “didn’t build that.”
Arizona’s resolute Republican Congressional contingent voted against the monstrosity which is the first Republican vote in favor of increased taxes in two decades. AZ Dems voted in support. The final House vote can be seen here.
Among myriad other spending, the bill extends unemployment benefits at a cost of $30.1 billion for two million Americans — who have already received 99 weeks of payments. It insured a raise of the death-tax paid on inheritances from 35% to 40%, and also extends a liberal favorite: stimulus-era tax breaks.
A report released by the non-partisan Congressional Budget Office Tuesday indicates that the Senate-passed vote would add nearly $4 trillion to the federal deficit over 10 years.
The clear lack of leadership evidenced by capitulating to this pork-laden behemoth, should signal the defeat of Republican House Speaker John Boehner as he faces reelection after the new House is seated on Thursday. Nancy Pelosi called it “a happy start to a new year.” That probably tells you all you need to know.
This two-month stop-gap is just the tip of the rushing-headlong-into-becoming-Greece iceberg. The debt ceiling looms.
And Obama? He’s off to resume his Hawaiian vacation. Never one to let serious business get in the way of his good times, Obama signed the bill using an autopen, a mechanical device that copies his signature.