Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: steve harris who wrote (382365)	9/13/2010 7:34:18 PM
From: FJB	3 Recommendations Respond to of 794157

WRAPUP 3-U.S. Senate Republicans firm on tax cuts for rich Mon Sep 13, 2010 7:16pm EDT * McConnell vows to introduce tax-freeze bill * Senate back from recess with short session * Bitter debate ahead of November congressional elections (Adds options to vote or delay, capital gains tax question) By Kim Dixon and Andy Sullivan WASHINGTON, Sept 13 (Reuters) - Republicans in the U.S. Senate poured cold water on Monday on hopes for a compromise with President Barack Obama that would have allowed Bush-era tax cuts for the wealthiest Americans to expire. Taxes have become a flashpoint going into a Nov. 2 election in which Republicans are seeking to wrest control of Congress from the president's fellow Democrats. Obama says the cost of keeping the tax cuts for the rich is too high as the United States emerges from recession with a massive budget deficit. The uncertainty over tax policy is hanging over the slow economic recovery and is keeping investors guessing about what will happen to taxes on capital gains and dividends. Prospects faded for breaking the deadlock when Republicans gave a cool reception to a signal on Sunday by John Boehner, their party's leader in the House of Representatives, that he might be willing to bend. In a political gambit, Senate Republican Leader Mitch McConnell proposed a freeze on all tax brackets, insisting that cuts for wealthier Americans, as well as for the middle class, must be kept in place. "I'm introducing legislation today that ensures that no one in this country will pay higher income taxes next year than they are right now," McConnell said on the Senate floor.