According to LVIndependent, Congressman Charlie Dent yesterday voted against extending the Bush tax cuts to middle class Americans. And a reader asks, "[D]id Dent put out a statement on why he voted 'no' on extending the 2003 tax cuts for taxpayers with income levels under $250k?" Below is an explanation from Dent's office:"U.S. Rep. Charlie Dent (PA-15) today opposed legislation that would pave the way for the implementation of destructive tax increases in the New Year. The bill, H.R. 4853, fails to prevent looming tax increases that will stunt economic growth and prolong the current recession.
"With tax relief enacted in 2001 and 2003 set to expire at the end of the 2010 calendar year, Congress must pass legislation extending the current rates before January 1, 2011 to avoid reinstating a top income tax rate of nearly 40 percent, a 55 percent death tax on family-owned small businesses and farms, and the tripling of taxes on investments. Instead of extending all of the relief provisions, the bill considered by the U.S. House of Representatives today will lead to tax increases on our nation’s job creators and investors.
"'Raising taxes on hardworking Americans will reduce investment, stifle opportunity and hinder economic growth,' Dent said following the vote. 'Particularly in these difficult economic times, we must extend the current tax rates for all Americans. I am especially frustrated that today’s legislation fails to prevent tax increases on small businesses – the very businesses Americans will rely on to create jobs and lead our economic recovery.'
"According to the National Federation of Independent Business (NFIB), the largest association of small businesses in the United States, the businesses most likely to experience tax increases as a result of Congress’s failure to act are those employing between 20 and 250 workers. These businesses represent more than 25 percent of the nation’s workforce. Moreover, approximately 50 percent of small business income would be impacted by the tax hikes.
"'I am hopeful the U.S. Senate will be able to produce a bill that does not impose higher taxes on any Americans,' Dent concluded."
Essentially, Dent is playing chicken in the hope of getting tax cuts extended for everyone.
“Despite hopes for more encouraging figures, the Bureau of Labor Statistics’ (BLS) latest jobs report has revealed the unemployment rate in the United States increased slightly in November. Reaching a 7 month high, the unemployment rate climbed to 9.8 percent last month. This figure is another sobering reminder Congress has failed to promote an economic environment that supports growth, investment and innovation.
"Yesterday, the House passed legislation that will pave the way for dramatic tax increases on American families and countless small businesses in 2011. Rather than considering misguided economic policies like this, Congress must support job creators by extending the current tax rates, established in 2001 and 2003. Preventing tax increases from taking effect in the New Year will allow small businesses to devote greater resources to job creation and capital improvements.
"It is my hope the Senate will pass legislation that extends existing tax rates before the end of the year. Without taking action, our economic recovery will languish and the nation’s unemployment rate will remain precariously high.”
23 comments:
He's doing the right thing on fighting an increase on tax rates that have held for 10 years. that's not temporary. It's 10 frickin years with the same rate.
44% of the over-$250K crowd are small businesses filing individual returns. Raise their taxes and they'll cut what they can control. This is usually headcount. So much for caring about private job development.
Instead, the feds will provide incentives for individuals to remain unemployed, while providing a disincentive to small businesses that might hire.
I think there's a master plan to keep us all more and more needy.
I don't want to hear the word deficit from Dent ever again. Extending any of the tax cuts is totally irresponsible, but that's politics. Holding out for the high-end tax cuts is just reckless. They won't do anything to boost growth and they never have.
Dent's a populist RINO spender, no doubt about that. But deficits are a spending problem; not a revenue problem.
When it no longer costs 90 cents to administer every dollar of federal aid, we should begin to discuss revenue.
Retired ASD teacher here.
Look, this whole discussion should be about reining in spending, not about extracting more taxes.
Leave the tax rates alone. Find progress in restricting government largess, NOT accommodating it.
Jon Geeting must be right! Why he provides hyper-links to other internet sites that agree with him!
They're hyper-linked and all that shit!
Signed,
Soros Internet Troll #77
Permission to Post:
Re: Nazareth Patch
Bernie-
Do you know what these editors earn?
The White House is panicking about the Capital Gains tax expiration and the effect it will have on the only metric they can go out to the populace and justify their sad administration, the value of the DOW.
What the President has an issue with is after the spanking his party took in November, which many in the party blame on him, they are less inclined to listen to him.
The other tax cuts are negotiable, the administration and Federal Reserve are crapping their pants about the potential for an end of year market liquidation for tax planning purposes.
Anon 6:56,
It is a nice salary with good benefits. I understand it is close to what most of them were making as reporters.
Mr Dent, can you explain to be why you voted against the small business jobs bill in October?
Where was your press release for that vote?
We do not want to hear from your campaign staff suggesting that the devil is in the detail. We all know no bill is perfect. You could have used that excuse for 8 years when you supported Bush.
The perception is that Republicans goal was to vote against anything Obama proposed for political reasons.
"Where was your press release for that vote?"
Um, it is specifically included in this blog. It is italicized and in red. Maybe I should put flshing signs next to it.
Jon Geeting said...
Extending any of the tax cuts is totally irresponsible...
-------------------------------
Emphasis on any.
But Jon, that would "cost"...
And I've read elsewhere that cost can be a real deterrent!
The editors at Patch make low 40's.
The dupes that do the actual work for them will need a bed at the rescue mission.
I have no problem with Dent's stand on this issue. The Bush Era tax cuts should be extended for all. Also, where is Dent on the Naked Body Scanners and Sexual Molestation of Citizens by the TSA? He has been quite on that one too.
Let's face facts, the country is in big trouble. No way to make up the deficet, two unwinnable wars, employment about to drag us under completely. Social security cuts, and medicare cuts, would cause senior riots. Unemployment insurance cuts reduces spending to nothing and increases crime rate (people need cash).
Fact is there is no proof whatsoever that high end tax cuts create jobs. Or that they have ever created jobs. There is no correlation between the two except in personalized logic and folklore.
David Stockman Reagan's budget guru, the author of "Reaganomics", has said so himself.
He laments the irresponsible attitude of both Republicans and Democrats, regarding the US economy.
He is deeply concerned about the run away spending but he is equally concerned about the selfish non-science of tax cuts that even Ronald Reagan would have found silly.
The Nation is in a crises mode and only a combination of responsible restrained spending and raising necessary revenue will bring us back from the brink.
Both Parties are playing to their "crazy" bases and ignoring the hard truth of pain and sacrifice to save the country.
The Smart One in the room.
"He has been quite on that one too."
LV Congressman Charle Dent has not been quiet on that issue, just as he has not on this one. This post sets forth his position on the tax cut extensions. It is in red and italicized. He's made no secret how he feels.
He has taken a position on TSA body scanners, too. As long as a year ago, he was advocating tightened airport security, including the use of body scanners, with restrictions that prevent the face from being seen or images being transmitted.
Here's his press release on that subject.
http://dent.house.gov/index.cfm?p=InNews&ContentRecord_id=66276f58-b59d-4377-85f5-99f80cb36f27&ContentType_id=71ddec0d-fe7b-4416-b801-e6dbabb5cf30&Group_id=903354fb-f943-492e-846a-7517c21efa95
Feel free to disagree with Dent, but don't say he does not take stands. That's Callahan's department.
Publius, Thanks for your insight. It is appreciated. I'd like to post it as a separate blog, with your permission.
there is no excuse in my mind for holding middle-class tax cuts hostage to tax cuts for the wealthy. 90% of Americans could already have their taxes cut as we speak.
as for unemployment, the whole rationale that people are just sitting around twiddling their thumbs disturbs me, because this is not the 80s or even the 90s, where jobs were readily available like low-hanging fruit. you can't tell people to go get jobs that aren't there yet. the current JOBLESS rate is 17.5%. keep in mind that anyone on unemployment once had a steady job and is the kind of person who likes having a steady job. if you cut millions of people off unemployment when there are no jobs available, it will have a serious negative impact on the economy--those millions of people will not be able to spend their checks on the goods and services they need, and a huge group of formerly middle-class workers will be forced into foreclosure, off health insurance, and across the poverty line onto food stamps and other welfare until the economy recovers.
those workers earned that money throughout their lifetimes and it was taken out of their checks along the way. the idea that wealthy people are "job creators" or that companies will use the money they save on extended Bush tax cuts to hire more people is a proven fallacy. 700,000 jobs were already lost BEFORE this president ever took office, and that was during the Bush tax cuts. they are holding on to their money, not hiring.
and all this rhetoric about "small businesses" and "tax cuts for ALL Americans" is just a way of dressing tax cuts for the rich in a populist cloak.
and there is no politician under high heaven that truly cares about American small businesses if they are fighting to defend tax cuts and loopholes for companies who are shipping American jobs overseas for cheap labor to increase their profit margins, and giving them an unfair advantage over American small businesses.
it is all a populist rhetoric as political theater--it is a cloak. the vast majority of republicans in congress (and a handful of democrats as well) are fighting for tax cuts for the rich and for big banks and corporations who ship jobs overseas because those are the people that make the biggest campaign contributions--they are holding middle-class tax cuts and our unemployment benefits hostage to benefit personally from making their buddies richer.
it is unconscionable.
CUT TAXES FOR THE MIDDLE-CLASS NOW. if you want to fight for tax cuts for the rich, hash that out later--don't try to make it us think it's all or nothing--republicans had the power this week to secure 90% of us a tax break and they failed, as did the democrats who joined them.
and if you're going to fight for tax cuts for the rich--adding billions to our deficit--have enough integrity to take the political hit and name the programs you will cut to pay for it. you can't claim to be concerned about the deficit without explaining how you will pay for a tax cut for corporations which will add TREMENDOUSLY to the deficit.
You mean to tell me Charlie agrees with the current TSA policy of naked body scanning and groping!! Wow, wow, wow... I find that amazing. I thought Charlie was about upholding the Constitution all the while he seems to be a bit socialistic. While many in this area do not fly regularly, I can see why he is not taking a hard stand like those in the more metropolitan areas.
Small businesses like Exxon and Verizon and the 75% of corporations that don't even pay taxes. They need that extension. Can't you people understand? Thank god Charlie and the wackadoodles will save corporate America. May Exxon can distribute a few turkeys to the unemployed to demonstrate the charitable Christian principles of their CEOs with their bonuses.
Wayne: "emphasis on any"....I agree...for decades Americans have wanted their programs, but don't expect to pay for them....spending needs cut, and revenues should pay for ordinary expenditures...from what I've read of the rejected debt committee report, it sounds like a responsible start.
Re 11:39pm and 10:09am...while I have seen the Ron Paul House speech on the matter, and am familiar with the paraphrase of Franklin's quote that "He who would trade liberty for some temporary security, deserves neither liberty nor security", your assertion of the unconstitutionality of the searches hinges on the 4th amendment word "unreasonable." Considering the lack of Thanksgiving protest, it seems safe to assume that most would find it more reasonable to be scanned than blown out of the sky, especially considering we've already had one attempted "underwear bomber."
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