Originally Posted by Taichiliberal
Once again the Dixie Dunce ignores history and FACTS that he does not like in favor of his own version of reality:
In 2001 and 2003, Congress passed tax cuts proposed by President George W. Bush. At the time, Mr. Bush and the Republican leaders of Congress certainly believed they were rewriting the tax code permanently, but the laws they passed actually gave the cuts an expiration date at the end of 2010.The question of what would happen then became more relevant after Republicans lost control of Congress in 2006, and the two parties have been fighting about them ever since, with Republicans pushing to make them permanent and Democrats seeking to end them for upper-income households. Their fate now seems likely to play a significant role in the 2012 presidential campaign.
In 2008, Barack Obama campaigned on a promise to roll back the high-end cuts, but a Democratic Senate balked at muscling through that change. After making huge gains in the November 2010 midterm elections, Republicans announced they would block all legislation in the lame-duck session that followed until all the cuts were extended.
In December 2010, Mr. Obama reached a deal with Republicans that extended the tax cuts at all income levels through the end of 2012 (they expire Jan. 1, 2013) as part of a package that would also keep benefits flowing to the long-term unemployed, cut payroll taxes for all workers for a year and take other steps to bolster the economy. It also continued tax breaks on dividends and capital gains, and lowered the estate tax.
http://topics.nytimes.com/top/refere...uts/index.html