With 'fiscal cliff' looming, officials say House to convene Sunday evening

  • Article by: Associated Press
  • Updated: December 27, 2012 - 2:25 PM
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  • 1 - 10 of 10
endothermDec. 27, 12 2:38 PM

The Republican House has displayed utter selfishness and incompetence in these budget negotiations. Boehner is willing to let taxes on a family making less than $40,000 a year rise up to $1000 in order to prevent taxes on millionaires going up by even a single penny. We need to give up on the myth that Republicans actually represent the American people. They serve their wealthy donors, and don't care at all about the rest of the country.

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tooty123Dec. 27, 12 2:41 PM

The house should have been in session yesterday! This last minute legislating is not good leadership! This mess is what happened with the debt-ceiling debacle. Don't let the t-party do this again!

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mplsjimDec. 27, 12 2:44 PM

They will meet to say they did -- they are all hat, no cattle.

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pitythefoolsDec. 27, 12 2:53 PM

Boehner's waiting on the Senate? What, to tell him how to govern and lead his own party?

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firefight41Dec. 27, 12 3:10 PM

We need to give up on the myth that Republicans actually represent the American people. They serve their wealthy donors, and don't care at all about the rest of the country. ********** Don't mean to pop your bubble, but neither party cares about the country. Their actions speak louder than their words.

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evldedDec. 27, 12 3:19 PM

Oh they'll all get together for cocktail parties, but this gaggle of yahoos hasn't been in anything even close to a session in the last four years... Why would they start now?

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rmoore1754Dec. 27, 12 6:49 PM

Civics Lesson: All tax legislation must originate in the House of Representatives. From there, it goes to the Senate where it is either passed and forwarded onto the President or amended and sent back to the House for passage or further amendments. The House completed its tax legislation package in August. The Senate has had 4 months to pass or amend the legislation. They have failed to act which has taken us to the fiscal cliff. It is time for Harry Reid to follow the legislative process and take up the House bill. If unhappy with it, amend it and get the process moving forward.

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rmoore1754Dec. 27, 12 6:58 PM

endotherm - I am one of those you would like to see have their taxes raised. As a small business owner, I have stopped hiring and investing in new equipment because of the increasing tax burdens placed on my business. Do you really think raising taxes on someone like me is going to help the economy or reduce the deficit? A 10% growth in my business will generate more tax revenue than the 21% increase in my tax rate from the combination of Obamacare taxes and Federal Income tax rate increases. This does not even take into consideration the additional employees hired and their tax revenues to the government or the suppliers of equipment, etc.

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chavistaDec. 27, 12 7:26 PM

rmoore1754 Dec. 27, 12 6:58 PM - Based upon your post and lack of knowledge of the tax code and business finance I seriously doubt you are a business owner. Research shows that when taxes go up, business invest more because it lowers their tax burden and the hiring of additional employees has nothing to do with taxes, it has to do with product demand. Nice try with the Republican misinformation, but it doesn't work if you don't tell the truth.

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rmoore1754Dec. 27, 12 7:46 PM

chavista - Nice try. I employ 16 people in a multi-million dollar company. We have a profit margin of 8%. Every decision that is made in terms of investing in people or equipment is a made on a risk reward analysis. As risk rises, you expect your return to increase or you do not make the investment. When taxes go up, my risk rises but my reward is reduced, hence I am less likely to make the investment. I cancelled a $1.4 million expansion in November following the election results because it became obvious government was going to continue to increase spending and taxes. This puts our economy at further risk as more money is siphoned off the private sector into government spending. As for Republican talking points, I vote Libertarian. You need to go back to Econ 101. As more employees are hired, the income they receive generates tax revenues. Further, the investments in equipment, contractors, etc generate economic activity all of which lead to further tax revenue for the government. The supply demand scenario presumes stable risk. As a small business employer in an unstable economy with the probability of tax increases, we will forgo risk until the risk reward equation is more favorable even if it means forgoing some level of growth in the business.

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