Tax Cuts: 'Chicken Crap' or Compromise?

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Transcript by Newsy BY MALLORY PERRYMAN You're watching multisource economy video news analysis from N...
Transcript by Newsy BY MALLORY PERRYMAN You're watching multisource economy video news analysis from Newsy. House Speaker Nancy Pelosi drew a line in the sand and told her colleagues--pick a side. That’s how the House passed an extension of the Bush-era tax cuts for every body who makes less than a quarter mil. But let’s call this what it was: a symbolic vote, or well, flipping the bird to the GOP. Speaking of birds... JOHN BOEHNER (R-Ohio): “I’m trying to catch my breath so I don’t refer to this maneuver going on today as ‘chicken crap’ all right?” (MSNBC) Infuriating Republicans, and adding fuel to an already blazing debate. GERALDO RIVERA: “If Republicans don’t allow tax cuts to lapse on these truly wealthy people while at the same time allowing unemployment benefits to lapse for the poorest people, I think that is so inconceivably unjustifiable.” (Fox News) Now—it’s the Senate’s turn to juggle this political hot potato. ABC reports Majority Leader Harry Reid tried to bring four votes to the floor—two Democratic proposals and two Republican ones. But at the bargaining table—one unnamed Republican Senator objected—so instead, Reid will only bring the two blue bills to the Senate floor. But MSNBC reports -- the reality is—Democrats don’t have the votes to extend the middle class tax cuts without giving Republicans the 250-and-above cuts as well. Joe Scarborough says a compromise has gotta come from somewhere—and congressional Democrats aren’t a part of the negotiations. JOE SCARBOROUGH: “Because the bipartisan deal is between Barack Obama and Republicans in the House and the Senate. For the Democrats this is like a political rapture. Democrats just got left behind on Capitol Hill.” And Fox News’ Geraldo Rivera suggests, in order for the president to compromise, first he’s got to figure out what he wants. GERALDO RIVERA: “Let’s hear the President’s compromise. Let him and Boehner act like grownups for God sakes. Stop staking out a position on the left or right or in Obama’s case, not staking out a position at all. Spell it out and let us now compromise.” And back on MSNBC, Meet the Press host David Gregory says President Obama needs to use the tax cut debate as a political lever. DAVID GREGORY: “Then he has the opportunity perhaps to emerge as a more fiscal conservative when he says to the Republicans ‘Ok. You’re serious about taxes and spending…where are we going to cut?’…If Republicans aren’t willing to make the tough choices then perhaps he’s got a lever there.” The president’s willingness to compromise may prove to be a powerful bargaining chip. CNN’s Dana Bash reports—Democrats have a lame-duck wish list—temporarily extending all tax cuts could help them check-off some of their priorities. But right now, Democrats are losing faith in their leader. DANA BASH: “Things like unemployment benefits, work-pay tax credits, college tuition tax credits, things like that. But again, Democrats here I talked to say they are very, very worried that the President is not going to push hard enough for that. There really is growing mistrust of the president among Congressional Democrats on this issue.” A new poll from CBS News suggests 26 per cent of those surveyed want the tax cuts to continue for all. 53 per cent want cuts continued for only those families who make less than $250,000. And 14 percent want all tax cuts—totally cut. Gallup, AP, and CNN polls had similar results. Get more multisource economy video news analysis from Newsy.
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