Fiscal cliff deal reached

[brettdale]

Im reading conflicting info.

Some are saying, President Obama was masterful and was presidential, others are saying he is a pussy and a puppet of the GOP,
who caved in to their demands.

I guess the truth is inbetween.

[RomneyLies]

1. Since the RWNJs are saying he was a tyrant who dictated the policy

I guess the "masterful and presidential" is the truth in between the extremes.

[W_HAMILTON]

5. RWNJs would say that regardless of the deal.

Oh, and know that even though this supposed deal resulted in Democrats caving on the tax issue and compromising with Republicans, the deal will pass almost entirely with Democratic-support in both the Senate and House; the Republicans will claim that this tax deal is their compromise and in two months when it comes time to debate spending cuts and the debt ceiling, they will boast that they've already compromised with the tax deal and demand that the Democrats cave (again...). And cave again the Democrats will, because they will have no leverage and are trying to negotiate in good faith with insane people.

And when none of these half-assed agreed-to tax increases really does much to address our debt/deficit, the Republicans will use this "deal" as proof that raising taxes doesn't solve our debt problem.

[RomneyLies]

7. The Far Left would be calling Obama a sellout regardless of the deal, too.

So again, we are at stasis.

[W_HAMILTON]

11. I'm proud to be "Far Left"

And I would have said nothing. I haven't actually even jumped in this discussion much until today. I was happy with going off "the fiscal cliff" and negotiating piece-by-piece what to add back (e.g., we'll reduce the military cuts if you give us an extension of the unemployment benefits, etc.). Hell, I might even be okay with this deal if it permanently pushed back sequestration / debt ceiling fights for as long as the tax provisions are in effect. I'm a Democrat -- I've learned to lower my expectations (albeit not at the same pace Democrats are able to find ways to pull defeat from the jaws of victory...).

I've yet to see any from the "Far Left" be as mentally insane or plentiful in number as those from the "Far Right." The small handful from the left that would be unhappy no matter what is the fringe of the fringe. The majority of the right that would be unhappy no matter what is called the Republican base. This is another case of the false accusal of the "both sides do it" defense.

[RomneyLies]

12. That tells me a lot about you. n/t

[DMacTX]

2. He made some sacrifices to protect the most needy

and I respect him for that.

Some on here want the Nuclear Option at every given opportunity, and that is borderline Tea Partyesque.

President Obama and Joe freakin Biden,....two of the VERY best in my book!

[hfojvt]

8. yep, just like George W. Bush

he only cut taxes for the rich to help the most needy.

"Yes, I'm worried about the deficit. I'm worried about the deficit, but I'm more worried about the fellow looking for work. I'm worried about the deficit, but I'm more worried about the single mom who's worried about putting food on the table for her children, so she could find work. And that's where the focus of this administration is going to be." May 12, 2003

And we used to wonder about Bush "What does he have to do to get these fools to quit supporting him?"

[R. Daneel Olivaw]

3. "I guess the truth is inbetween."

I don't believe that truth necessarily meets in the middle between two points.

[hfojvt]

4. you sure have a funny way of deciding what the truth is

For me, it depends on what your goals and ideals are.

If you oppose tax cuts for the rich, then it is probably a bad deal.

If you don't mind tax cuts for the rich, then you might applaud it.

I guess when we got fired up to support Obama it was because we wanted to keep most of the Bush tax cuts.

Myself, I don't understand how anybody can be happy about this capitulation.

[golfguru]

6. Here are some details of the deal...

The income threshold for higher taxes is extended from $250k Obama wanted to $450k
for marrieds and $400k for singles.

The death tax was going to go up with the fiscal cliff (FC) for estates over $1 million to 55%.
With the "deal" that amount will increase to $5 million exemption from death tax for single,
and $10 million for marrieds. That exemption amount will be indexed for inflation in future years.
Over the exemption limit, the estate will be taxed at 40%.

Capital gains tax increases from 15% to 20% for joint incomes over $450k & single income over $400k.

Those are some of the highlites.

[LeftyLucy22]

9. Do we have any information on mortgage interest?

Just curious. Thanks!

[xxxsdesdexxx]

10. i don't think that the mortgage interest deduction is part of the deal and it's still there.