Day: December 4, 2010

Sen Repubs block extend tax cuts for those making under $1-million

Posted on by Bobby Broadway

According to White House correspondent Mark Knoller Senate Republicans have also voted against extending tax cuts for people making under $1 million dollars. So far today Senate Democrats and President Obama are 0 for 2 when it comes to permanent extension of Middle Class tax cuts.

Mark Knoller noted that the president stated it was, “absolutely essential” to middle class families & the economy that their taxes don’t go up on January 1st.

President Obama also said,

“it makes no sense to hold tax cuts for the middle class hostage to permanent tax cuts for the wealthiest 2% of Americans.”

Obama says, “it is simply wrong” to give tax breaks to the wealthy while denying extended unemployment benefits to unemployed millions (via Mark Knoller).

As always….
If there is something to be said, “It’s On Broadway” to step up and say it!!!

Derek Jeter to sign new deal with Yankees on Sunday?

Posted on by Bobby Broadway

Derek Jeter

As being reported by ESPN, looks th Yankees nd Derek Jeter aka “The Captain” have agreed on a deal that will be announced Sunday.  The Yankees originally offered Jeter 3 year contract worth $45 million ($15 Mil a year).

A 36-year-old Jeter felt he was worth more years guaranteed and more money.  Jeter and his agent never officially announced what type of deal he was looking for but word on the street was that he was looking for something in the range of 6 years around $20 million a year.

Luckily for Yankees fans both the Yankees and Jeter seem to have met a middle ground.  It’s being reported that the Yankees will now offer Jeter 3 years at $17 million a year (total $51 million) with a 4th year option (lower salary) that can be picked up by the Yankees.

This is a good deal for both sides as the Yanks were able to avoid committing to a 4th year (and paying Jeter $20 mil a year) and Jeter becomes the 2nd highest paid shortstop in baseball behind Troy Tulowitzki (something like $24 million a year).

Once again all is well in Yankee land; in the words of Derrick Coleman, “Whoop–de–damn–do“ 

LOL, back to my Yankee hating ways.  LET’S GO METS!!!

As always….

If there is something to be said, “It’s On Broadway” to step up and say it!!!

Senate Republicans block extension of Middle Class tax cuts

Posted on by Bobby Broadway

In not so shocking news Senate Republicans successfully blocked the permanent extension of the Middle/Working Class tax cuts.  This will be 1 of 4 test votes Democrats in the Senate will attempt to see what version of the bill will garner the most votes.

The following versions of the legislation will also be tested:

  1. Senator Schumer (D-NY) has proposed a middle/working  class tax cuts where the cap would be raised to $1 million dollars.  Meaning if you make less than or equal to $1 million you will receive a permanent tax cut.
  2. Senator McConnell (R-KY) make tax cuts for upper wealthy and middle/working class permanent
  3. Permanently pass middle/working class tax cuts and temporarily pass tax cuts for upper wealthy fo the next 2-3 years.

Word is the Senate will vote on Senator Schumer’ proposal next and that is als expected to be voted down by Republicans.  The only plan that will more than likely to receive the most support from Republicans will Senator McConnell’s proposal of permanent extension of tax cuts for both Rich and Middle Cass (#2).  That proposal will also fail as it will not have the necessary support from Democrats as they do not support tax cuts for the Uber Rich.

The only proposal that will more than likely have enough support from both sides of the aisle will be the 3rd proposal listed above:

Permanently pass middle/working class tax cuts and temporarily pass tax cuts for upper wealthy for the next 2-3 years. 

This plan will also be reluctantly be supported by President Obama; he campaigned back in 2008 on letting the Bush Era Tax Cuts expire for he Upper 2% wealthy.  Letting those tax cuts expire will bring revenue of $700 billion over the next 10 years.  That money could be used to pay down our spiraling out of control National Debt ($13 trillion dollars)

The next couple of days will be interesting in the senate as there will be heavy negotiations to include an extension of unemployment benefits that will soon expire for 2 million Americans at the end of the year. 

Republicans are hell-bent on doing whatever it takes to stop President Obama even if that means hurting the nation.  tax cuts fo the Middle/Working class would have more of a positive impact on our economy than any tax cut for the Upper 2%  wealthy.  Extending the tax cut for the rich will set this country back as we will have to borrow $700 Billion dollars from the Chinese so tat the RICH CAN GET RICHER!!

So while Republicans campaigned on lowering the National Debt, in this case lowering the debt is not important when it comes to making sure the Uber Rich can make more money while the rest of the nation suffers.

Republicans will hold unemployment benefits and tax cuts for the Middle Class hostage so the rich can save more money t put into their savings.  It’s very simple folks the Middle Class (you and me) drives this economy…

NOT DIDDY!!!  

Update:  According to White House correspondent Mark Knoller The Senate has also voted against the Senator Schumer’s proposal:

  • Senator Schumer (D-NY) has proposed a middle/working  class tax cuts where the cap would be raised to $1 million dollars.  Meaning if you make less than or equal to $1 million you will receive a permanent tax cut.

    • As always….

    If there is something to be said, “It’s On Broadway” to step up and say it!!!