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November 19, 2012
Nancy Pelosi Says Dems Will Accept No Fiscal Cliff Deal That Doesn’t Crush Small Business Owners With Tax Hike
Pelosi Says Dems Will Accept No Fiscal Cliff Deal That Doesn’t Crush Small Business Owners With Tax Hike…
House Democratic leader Nancy Pelosi says she’s hopeful lawmakers can come to a deal to avoid a year-end “fiscal cliff” but any agreement has to include tax rate increases for the wealthy.
She tells ABC’s “This Week” that she can’t accept a deal that caps deductions and closes some loopholes but does not alter current tax rates for the wealthy.
The California Democrat says “just to close loopholes is far too little money” and other ideas have to be considered. Republicans have suggested they are open to finding more revenues.
Lawmakers are facing expiration of the George W. Bush-era tax deductions and across-the-board spending cuts that automatically hit in January – the result of Congress’ failure to reach a deficit-cutting deal last year.
Wild Thing's comment...............
The socialist America will love this and all the things Obama will do.
Posted by Wild Thing at November 19, 2012 01:50 AM
This weekend Reuters proclaimed that Europe was back in recession. As the Bush tax cuts are replaced with higher more onerous taxes America will also reenter recession(if we ever got out which I doubt).This go-round it will be much worse as we are in a more weakened state than in 2008. If obama's and Reid's/Pelosi's plans are installed we may just see a real depression. Terrible unemployment and an almost zero growth economy. It looks rough ahead.
Posted by: TomR, armed in Texas at November 19, 2012 01:06 PM