Biden Says White House Willing to Deal With GOP on Tax Cuts

No deals!!! LET THE TAX CUTS FOR THE RICH EXPIRE!!!! It is the average joes that keep this country running evry day but the republicans refuse to even consider a cut in taxes for us. But for the wealthy it is give them evrything they want as they did during the eight years that they were in control. Now when it is the peopls turn to try to better their lives just a little the republicans are fighting tooth and nail!!! Why??? The AMERICAN PEOPLE want to know!!!!!!!!

Extending all the Bush tax cuts will cost $4 trillion over the next ten years. Extending even just the middle class tax cuts will cost $3 trillion. Republican spending cuts will save only $100 billion. So the fiscally responsible thing to do is to let all the tax cuts expire.

You bet once the GOP pass a balanced budget amendment. When the deficit is below 1% of GDP cut taxes all you want so long as the deficit stays below the 1% level. I don't believe the GOP has wat it takes to do the right thing. (nor do the Democrats)

To seanprb: You may not be aware that the taxes on those making "more than $250 thousand per year"... is a tax on their Personal income, AFTER all business and personal expenses are deducted. A small business, such as a "Mom & Pop Market", a corner hardware store, or a small print shop... would be taxed according to NET... not gross... income. If the Store "grosses" $One Million... pays a couple of salaried workers, and deducts expenses for the products and overhead... perhaps "Netting" after expenses a 17% profit... which is equal to $170 thousand dollars for the owner... That's what they pay taxes on... $170,000... well BELOW the $250 thousand threshold. This is the tax code as prescribed by President Ragan in the early 80's, which is precisely what the current administration wants America to return to, rather than those small business owners paying excessive taxes, while the wealthy, whose final net income is above $250 thousand, cruise along on the Bush tax cuts... costing us approximately $1 trillion in revenues during that administration, while those same wealthy people almost doubled their average take-home pay... and most of us lost 20% to 40% of our take-home pay. RETURN the TAXES to the RAGAN Era!

Dealing with Biden is like Adam and Eve bargaining with the serpent....Nothing good will happen!!!

combatked16:18 PM Oct 23, 2010 WRONG! I am president of an S corporation and we pay TAXES! Lots of Taxes! Start your own business, then incorporate it, then tell me yhou don't pay taxes. ========================================================================== An S corp does not pay any tax. They are required to file Form 1065.There are no lines on this form for showing or paying tax. The S Corp gives the owners who earned money a Form K-5. The K-5 showing earnings is attached to individuals Form 1040 showing their earning as others attach their Forms W-2 or 1099. Another thing, One does not just start a business as an S Corporation. One starts as a C Corporation. One can request to be converted to an S Corp from one of the 10 IRS service Centers. Until the request is granted, you will file Form 2210. As for paying a lot of tax; most tax payers would be shocked if they ever saw a Form 4562. Most of your 179 property is payed for by the tax paying public, and you're allowed to sell it after 3 years for 10% of the cost of the item, including vehicles less that 6,000 pounds. Most have no idea about ACRS or MACRS. They would really be upset about the 20 year property and the DDB. (Double Declining Dalance.) I did not forget about Listed property or expensing. I've said enough. I'm just the son of two poor share croppers who grew up in the cotton fields of Coahoma County, Mississippi.

bitscho... just cause you got lots of money... not every one does....we need the tax cut to survive

Why in the world don't we vote on the tax cuts now and LET THEM ALL EXPIRE. Most of us average wage earners didn't get but a measly few dollars savings on our taxes anyway, and we sure won't miss not getting it back, if we know the wealthy fat cats of this country will have to start paying more of their own share. It isn't as though they are ever going to be paying a FAIR SHARE of taxes on their income. It doesn't matter how rich you are, you still should pay a fair percentage of your income for taxes, and Bush should never have given such a huge cut to these wealthy, greedy people anyway. They sure didn't spend any money to help the economy with it.

Conventional (Republican) wisdom holds that lower taxes create jobs. Logic doesn't support this idea. Lower taxes on businesses won't create jobs because businesses only hire new employees when and only when the current staffing level can't handle the workload. More money in the hands of the middle and lower income groups can stimulate business because those in this group spend what they get. extreme example... even a million or two to the Gates, Buffets, Jobs or Ellisons of the world isn't going to build a fire under the lagging economy and stimulate job creation.

Biden is out of the loop. Obama has been demonizing Republicians over the tax issue (pre-election) and has no interest in compromise on anything. It will be the same during the lame duck session - until the Congress balks at raising their own taxes. Then we will see compromise that will keep the Congress wealthy. But will Obama sign it?