default avatar
Welcome to the site! Login or Signup below.
Logout|My Dashboard

What will happen with a Democratic Congress?

Font Size:
Default font size
Larger font size

Posted: Friday, October 13, 2006 10:00 pm

What can we expect if we elect a Democratic Congress in November? WSJ, Oct. 3: New York Sen. Chuck Schumer said that silence is the Democrat strategy because laying out an agenda "gives Republicans a target." So we are to elect a pig in a poke.

Charlie Rangel, the 36-year House veteran from New York City, who will chair the powerful Ways and Means Committee, has explained his own agenda.

"In a recent interview with Bloomberg News, Mr. Rangel was asked specifically if any of the Bush first term tax cuts were worth preserving and he answered that he 'cannot think of one.' Then last week asked by the Congress Daily whether he'd consider tax increases across the spectrum, 'No question about it' he said, 'Everything has to be on the table.'"

That means repealing the 10 percent low-income tax bracket, the child tax credit and marriage penalty relief, all of which passed in 2001 and expire in 2010 because the Democrats would not vote for making them permanent. The Treasury Department estimates that repealing these provisions would raise taxes by $2,000 a year on the average middle-income family.

WSJ, 10/6: The federal budget for the 2006 fiscal year will report that the budget deficit fell to about $260 billion. This tidal wave of tax revenue comes from tax collections that have increased by $521 billion in the last two fiscal years, the largest two-year increase in revenue in American history.

Tax collections from corporations are up by 76 percent over the past two years, thanks to greater profitability.

"Personal income tax payments are up by 30.3 percent since 2004, despite the fact that the highest tax rate is down to 35 percent from 39.6 percent. The IRS tax-return data just released last month indicates that a near-record 37 percent of those income tax payments are received from the top one percent of earners - 'the rich,' who Washington regularly derides for not paying their 'fair share.'" The budget deficit at $260 billion is now about 2 percent of our $13 trillion economy, well below the 2.7 percent average of the last 40 years.

Phyllis Roche


First published: Saturday, October 14, 2006

Rules of Conduct

  • 1 Use your real name. You must register with your full first and last name before you can comment. (And don’t pretend you’re someone else.)
  • 2 Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually oriented language.
  • 3 Don’t threaten. Threats of harming another person will not be tolerated.
  • 4 Be truthful. Don't lie about anyone or anything. Don't post unsubstantiated allegations, rumors or gossip that could harm the reputation of a person, company or organization.
  • 5 Be nice. No racism, sexism or any sort of -ism that is degrading to another person.
  • 6 Stay on topic. Make sure your comments are about the story. Don’t insult each other.
  • 7 Tell us if the discussion is getting out of hand. Use the ‘Report’ link on each comment to let us know of abusive posts.
  • 8 Share what you know, and ask about what you don't.
  • 9 Don’t be a troll.
  • 10 Don’t reveal personal information about other commenters. You may reveal your own personal information, but we advise you not to do so.
  • 11 We reserve the right, at our discretion, to monitor, delete or choose not to post any comment. This may include removing or monitoring posts that we believe violate the spirit or letter of these rules, or that we otherwise determine at our discretion needs to be monitored, not posted, or deleted.

Welcome to the discussion.

Recent Comments

Posted 18 hours ago by Ed Walters.

article: Letter: Michael Brown started events th…

Barrow, no need to retract the truth, and I can pretend all I like. I spoke of useless lives of which Charlie leads the mob, followed by …


Posted 21 hours ago by robert maurer.

article: Letter: Michael Brown started events th…

Shhh, Ed; my post using the word thug will probably be removed now ... On another note: Jien; I was not referring to M.Brown in my post at …


Posted 21 hours ago by Ed Walters.

article: Lodi Electric Utility announces 2015 So…

Navarro: a three legged horse at the Kentucky Derby has a better chance to win than you do, best of luck anyway. [wink]


Posted 22 hours ago by Eric Barrow.

article: Letter: U.S. suffers from total lack of…

This is a recurring theme among conservatives that by helping those in need liberals are somehow hurting those same people. I suppose it he…


Posted 22 hours ago by Mike Adams.

article: Letter: U.S. suffers from total lack of…

Robert: A strange car on a dark lonely road while may be suspicious is not probable cause to be pulled over. Anytime we drive outside of o…



Popular Stories



Your News

News for the community, by the community.

Mailing List

Subscribe to a mailing list to have daily news sent directly to your inbox.

  • Breaking News

    Would you like to receive breaking news alerts? Sign up now!

  • News Updates

    Would you like to receive our daily news headlines? Sign up now!

  • Sports Updates

    Would you like to receive our daily sports headlines? Sign up now!

Manage Your Lists