WASHINGTON — The Senate overwhelmingly approved a deal early Tuesday that would prevent automatic income tax increases and briefly delay deep spending cuts, accelerating a scramble to spare the nation a possible recession.
The 89-8 vote, which came about two hours after a year’s end deadline, capped four days of stop-and-start negotiations. The deal would avoid tax hikes on nearly all working Americans while raising taxes on the wealthiest.

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McConnell asked Biden to join the negotiations, according to the New York Times. I knew Biden was greatly respected in the Senate, but such an initiative from McConnell was a surprise to me.
Thanks to everyone on both sides for getting this done. I think it might make it through the House with a combination of Democratic and Republican votes. Boehner may not be able to get the majority of Republicans to go along, but all he needs is enough.
Exactly!
What a joke, these CLOWNS wait to the last minute of the last day to conclude their games at our expense. How is it the richest country in the world worries more about helping other countries than insuring their own citizens are taken care of. This Fiscal Cliff was another example of getting elected, not doing the right thing. We deserve what we get because we again and again elect and reelect politicians who only take car of themselves. How is it possible that our representatives vote to give themselves a full pension for life after one term in office and free healthcare forever (not the health care they forced on their constituents) ? Now the Republicans will blame the Democrats and vise versa while we the people twist in the wind.
The political problem has *nothing* to do with self-aggrandizement by members of Congress. It has everything to do with a political divide based on ideology. If you don't understand that then you haven't been paying attention. Congressional pensions or healthcare are completely beside the point.
Thank goodness scooter brown has cast his last vote. He couldn't even do that without putting out a smarmy selfserving statement for nis next failed attempt at office.
And happy new year to you as well.
Mitch McConnell and Joe Biden showed some class during these negotiations. This is good news. Now, let's see what the House does.
So after months of contrived hubris and angst, a compromise is reached where people who still don't have to worry about where their next meal is coming from have their taxes raised back towards the level they were paying when they were accumulating wealth and the economy thrived better than it does now.
Is that about it in a nutshell?
I support the president and Democrats should too! IF he could have done the best liberals wanted he SURELY would have. No president ever with the exception of perhaps Lincoln had to deal with the most obstructionist opposition in the history of this nation. They are utterly intractable and every absolutely every cent Democrats raise should be to the purpose of unseating Republicans at both the national and most importantly at the state level in 2014. Republican especially Tea Bags would rather see people die than government help those who through no fault of their own cannot help themselves .
Our president is light years better than a Mitt Romney ever would have been. Count your blessings. Democrats and other progressive independents too do NOT betray a president that has worked his hardest for us under HUGELY difficult circumstances and often racist animus. He is, in my view, a SAINT and has the patience of Job! Yes, I often see things as other critical progressives do BUT I am also a pragmatist. I want the best we can do playing the ball where it lies.
Now we must hope the part horrible House says aye. I will believe it when I see it but it may happen. Here's hoping it does! Here is also what one blogger iterated explaining what we got. I believe his assessment at least for now is correct and YES, of course I worry about the House accepting it. It is not law until it does. HAPPY NEW YEAR TO ALL!! I hope it stays happy.
OPPS forgot the bloggers entry explaining the potential deal. He said:
WHAT COMPROMISE LOOKS LIKEThe GOP did not want to raise income taxes on anyone.
The GOP wanted to tie deep spending cuts into any deal.
The GOP did not want to see extensions in key Democratic favored programs.
It did not get what it wanted.
It did get $150,000 increase in the tax ceiling, and it joined the democrats in supporting several tax credit extensions,
The Dems did very well
Here is what the deal does:
A) All wage earners will see their payroll taxes return to 6.2 percent on earnings up to $113,700 in order to return the funding stream to Social Security and Medicare.
B) Individuals who earn more than $400,000 and couples who make more than $450,000 will see income tax rates increase from 35% to 39.6% For people at those income levels, tax rates on capital gains and dividends are expected to rise to 20%, up from 15%. In addition to the capital gain and dividend rates, health care reform will levy a new surtax of 3.8% on capital gains for wealthy Americans, pushing up the top capital gains rate to 23.8%.
C) Estate tax rates are poised to rise from 35% to 40% for estates valued at more than $5 million.
D) Creation of a permanent inflation "patch" that would shield millions of middle class taxpayers from the AMT (Alternative Minimum Tax that is supposed to guarantee that wealthy taxpayers pay a minimum amount of federal income tax, regardless of deductions, credits or exemptions. In essence, it is a flat tax with two brackets -- 26% and 28%)
E) Extended Measures/Programs:
- Unemployment extended for one year, preserving benefits for 2 million Americans who were at risk for losing benefits at year's end.
- The Child Tax Credit, Earned Income Tax Credit and Obama Opportunity Tax Credit (college tuition credits) will all be extended for five more years.
- One-year extension of the Research and Experimentation Tax Credit and Production Tax Credit, Alternative Energy Credits, along with an extension of the 50 percent Bonus Depreciation for businesses' capital expenditures.
- One-year extension of the DocFix current Medicare reimbursement rates, shielding participating doctors from a potential 27% cut in reimbursements.
AND...It would also temporarily delay the sequester -- i.e., billions of dollars in across-the-board spending cuts -- for another two months....when the debt ceiling debate will be a full force.
It will pass the Senate in a bipartisan vote and Boehner is going to have accept Democratic support in the House.
So, here is a list I found that reportedly contains the names of the senators voting against the deal: The 8 Senators to vote against the fiscal cliff bill were Bennett D-CO, Carper D-DE, Grassley R-IA, Harkin D-IA, Lee R-UT, Paul R-KY, Rubio R-FL, Shelby R-AL.
never about spending cuts. Great job Republicans.
President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion—a 41:1 ratio of tax increases to spending cuts.I love that you don't even bother to tell people you're quoting Brietbart anymore.
http://www.breitbart.com/Big-Government/2012/12/31/Fiscal-cliff-deal-41-1-in-tax-increases-to-spending-cuts-ratio
According to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion—a 41:1 ratio of tax increases to spending cuts.
You are such a moron. That is the number, Would you like to see my math?
term limits
too bad the "problem children" are all first term Tea Baggers.
Obama certainly has transformed America -for the worse.
Foodstamps
Disability rolls
Labor force particiaption
Pverty levels
Debt
Drones
Tracking US citizens - warrantless wiretaps
Ignoring the Constitution
Wages
Taxes on all of us
Unemployment rate
Class/gender warfare
Foreign policy disarray
Obamacare
Unemployment levels for those under 35
Black unemployment rates
Housing
ZIRP
Gas prices
Consumer confidence
And more: http://www.zerohedge.com/news/2012-12-21/75-economic-numbers-2012-are-almost-too-crazy-believe
Yes, all Bush's fault.
Nice cut and pasted list of words. here's betting if we click through the link, it's equally content free. Everything is Obama's fault. He's probably even the reason you're incapable of writing your own posts.
So Obama takes the blame again. Now Washington can get back to important matters like verbally beating up Hillary Clinton.
Globewriter said "For Brown, the vote in favor of the package contradicted pledges he made during his failed reelection campaign not to increase taxes on the wealthy." Now why did he say that? Is he MOCKING Scott Brown? Is he suggesting that Scott should not have voted in favor?
Meanwhile, the :Fiscal Cliff" is actually the OBAMA CLIFF. Obama created it last year. He REJECTED the recommendations of his own Simpson-Bowles deficit commission. And he JOKED about it at his White House Campaign Party (that's what it really was) yesterday. In Minnesota the voters put a Saturday Night comedian into the Senate. We put a CLOWN in the White House...And it's interesting that the Globe says "WASHINGTON — The Senate overwhelmingly approved a deal early Tuesday that would prevent automatic income tax increases and briefly delay deep spending cuts, accelerating a scramble to spare the nation a possible recession". The Globe and Liberals are always blaming Bush for signing off on those tax cuts. But if so, why are they claiming that allowing them to expire would cause a recession?
Call people clowns when you've done more with your life than they've with theirs.
Whether it's Obama or George W. Bush, they work for the nation. Political idologies aside, they sacrifice much of their lives for all of us. At some point, and this is a good one, we should recognize that.
Yes, Brown had a choice of voting AGAINST the bill, resulting in a tax increase on 99% of taxpayers, or FOR the bill, resulting in a tax increase of 1%, or abstaining from the vote. Which of those 3 choices would the Globe NOT have slammed him on? Which of these would they have not used to paint him as a flip-flopper in a future Senate / Governers campaign ... of course without providing proper context as to what his choices were ?
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ann coulter (to really drive the left loonies nuts):
"When your party is controlled by a billionaire rootless international financier who expresses ‘no sense of guilt’ for collaborating with the Nazis, you might want to ease up on lecturing the rest of us about the evil rich."
That's your problem, not ours. Here we are at a moment of bipartisanship, which could be an aberration or possibly a first step toward more Congressional cooperation.
And what do you do in response? You're your same old polarized, destructive self, trying to bait people who disagree with you, long lists of meaningless "sound bites." You're a blight on the politics of nation. Are you proud to be that? You care more about your far out political views than you do about the future of the country.
lol
Alinsky would be proud
Why do you say that? Having read his works, I think he'd be dismayed, especially at the putting politics above country.