Pelosi, Sanchez, Ron Paul and House Dems pass major Tax Cut for all Americans!


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I know that most lazy news outlets are going to say “House Democrats pass Middle-Class Tax Cuts” which is true – but the fact is EVERYBODY gets these tax cuts – if you make over a quarter-million a year, you still get the tax cut UP TO THAT AMOUNT.

I was happy to see two decent Republicans join the Democrats in this vote – the only two real mavericks in the House GOP – Ron Paul and Walter “Freedom Fries” Jones. Was this because they OPPOSE the tax cuts for OVER a quarter-million income?  NO.  It’s just because these two are above partisan game-playing, and know how important it is right now for the VAST BULK of us to have these tax cuts.  Ron Paul and Walter Jones do not PLAY CHICKEN with the well-being of the nation, for partisan gain. Shame that there were only TWO such Republicans, and that TWENTY DINOS crossed over to do the bidding of billionaires and the GOP.

I propose calling this the Pelosi Tax Cut of 2010.  I suppose now it goes to the House of Death, known as the Senate, to probably be killed by Republicans and Fake Dems there.  Hopefully not.  But even if so, I hope Americans are watching and can see which Party’s on the side of 98% of us, and which Party ONLY cares about millionaires and billionaires.

We really can not afford to extend the tax cuts for incomes over a quarter-million.  It is absolutely KILLING us deficit-wise.  The Republicans insist that continuing these huge Bush cuts for the very wealthy will create jobs – they even have a new catch-phrase if you’ve noticed – instead of “the wealthy” or “the rich” they call them “the Job Creators.”  Um, no.  They’ve had these Bush cuts for ten years now.  If they were Job Creators we would have jobs, NOW.

Some friends have been trying to get me to do an Econ 101 post just to explain this basic stuff to some of you rubes and stubborn people.  I’ll judge by the comments on this post whether or not I have to do that.

How did I learn about this news before anyone else in the OC?  From a press release from Loretta, boasting about how she had voted in favor of this “Middle Class Tax Cut.”  Irritatingly, the newly engaged Blue Dog didn’t bother to mention whether the measure had passed or not, but I’m sure that’s because she’s busy planning her nuptials.  Well, apart from that, her press release is worth reprinting here… and make sure to thank Loretta for helping pass the Pelosi Tax Cut of 2010, and give Campbell, Rohrabacher, Royce, Miller and Calvert a rash of grief for holding the country hostage so that the very rich can hoard even more of their money in these difficult days.

REP. LORETTA SANCHEZ VOTES TO EXTEND
CRITICAL TAX CUTS FOR MIDDLE CLASS FAMILIES

WASHINGTON, D.C. – Congresswoman Loretta Sanchez (CA-47), a member of the bipartisan Joint Economic Committee, today voted to extend middle-class tax cuts that will spur economic growth in Orange County and across the country. The Middle Class Tax Relief Act of 2010, an amendment to the Senate amendment to H.R. 4853, would extend tax cuts for millions of families and small businesses without the deficit-busting baggage of new tax cuts for the wealthiest Americans. Unless Congress acts, tax cuts for middle class families will expire on January 1.

“Extending these tax cuts will save middle-class families in my community nearly $1,000 per year,” said Rep. Sanchez. “That kind of money matters when you’re struggling with a tough economy. The fact that Republicans would hold these tax cuts hostage for 97% of small businesses and working families really shows how out-of-touch they are with the American public.”

Under the Middle Class Tax Relief Act, 97% of American families and small businesses will get tax cuts of $1.5 trillion over 10 years. For all families making less than $250,000 a year, the bill permanently extends the 2001/2003 tax cuts, including current tax rates, marriage penalty relief (including the Earned Income Tax Credit), capital gains and dividend rates, and $1,000 child tax credit for earnings above $3,000. The bill also protects more than 25 million taxpayers from the alternative minimum tax by extending the alternative minimum tax (AMT) patch through 2011 and permanently extends small business expensing.

The bill also allows the fiscally irresponsible, Bush-era tax cuts for the wealthiest 3% of Americans to expire. If extended, these budget-busting tax cuts would saddle our children with more than $700 billion in debt, nearly 80 percent of which would be used to provide millionaires and billionaires with an average bonus tax cut of $100,000 a year (Joint Committee on Taxation, 8/10/10). Economists say extending these cuts is the wrong way to strengthen the economy and create jobs, especially at a time when the U.S. debt exceeds $13 trillion.

Congresswoman Loretta Sanchez is proud to represent California’s 47th Congressional District, which includes the cities of Anaheim, Garden Grove, Santa Ana, and parts of Fullerton in Orange County. She serves as Vice Chair of the House Homeland Security Committee and Chair of the House Armed Services Subcommittee on Terrorism, Unconventional Threats, and Capabilities. Rep. Sanchez is also a member of the fiscally conservative Blue Dog Coalition and sits on the bipartisan, bicameral Joint Economic Committee.


About Vern Nelson

Greatest pianist/composer in Orange County, and official troubador of both Anaheim and Huntington Beach (the two ends of the Santa Ana Aquifer.) Performs regularly both solo, and with his savage-jazz quintet The Vern Nelson Problem. Reach at vernpnelson@gmail.com, or 714-235-VERN.