The idea that the Republicans even bother to think about economic effects of tax cuts is laughable. If it's good for rich people, it ipso facto is good for America. To them (and to more than a few Democrats) rich people ARE America. The rest of us are just servants/bums.

Maybe my understanding is wrong, but the Bush tax cuts sunset automatically on December 31, 2010, unless they are renewed prior to that. The sunset will have taken place BEFORE the new congress is sworn in in January, unless their is some action taken in the lame duck or before the mid-terms.

If this is correct, what the hell is Pence even talking about? They would be too late for an extension, and would have to enact completely new legislation.

For a year and a half, Pence and his ilk said deficit reduction was the key priority -- won't someone please think of the children? -- and two months before the midterms, Republicans are already abandoning their alleged principles.

Not really. As Pence and the rest have stated repeatedly over recent months, SOCIAL spending programs MUST be slashed and paid for. but TAX CUTS never, ever ever need to either be paid for or even expensed. Never. So Pence's statement really is true to the most deeply held Republican principles.

Out of curiosity, which president do they think is going to sign off on that tax giveaway?

It would be easier to laugh if I didn't suspect that Pence will get most of what he wants. Seen any backbones lately?

Obama should just repeal all taxes and see what happens. :)

And another thing: Rich people donate large sums to the GOP, to assure that money won't be taken from them by the IRS. -Money that will benefit society as a whole, and could also increase the rich person's (taxable) income. . .

Too bad John Edwards turned out to be such a scumbag. That "Two Americas" campaign rhetoric would come in handy right about now.

It's not just Republicans. Democrats Evan Bayh, Kent Conrad, and Ben Nelson have expressed support for extending the cuts. Of course, it means their taxes won't go up.

How can we expect Republicans to go along when we can't even get out own party to agree?

But don't you know that tax cuts "pay for themselves"? It is conservative theology, and they never can be wrong.

Back in the Bush days, one conservative told me regarding the record deficits that followed the 2001/3 tax cuts and Iraq invasion, "I don't believe in the deficit". When I asked if she didn't believe she should make any sacrifice to pay for the war she strongly supported, she told me she had -- she had baked a casserole for a soldier's family!

we...want to look at the kind of across-the-board tax relief ... that will encourage capital formation."

There is already huge amounts of capital sitting in banks -- and the banks won't invest because of the poor current recession. Increasing the amount of capital ready for investment will actually hurt the economy because right now what is needed is some consumption.
Money is in a near deflationary state. Things, particularly houses, are getting cheaper not more expensive. The supply side theory under which the republicans pretend to operate works by increasing supply. Increasing supply in a deflationary market only drives prices down further beginning a spiral that becomes more and more difficult to control. The corrective mechanisms (limit governmental spending, decrease taxes, reserve even more money for capital) the republicans propose will drive us further into recession if not depression.

Mike Pence may be the single dumbest congressman in the House, and some Republicans actually think he'd be a good presidential candidate.

Let's make a deal. Extend the cuts for another year and sign off on a 500 billion dollar stimulus which would include extended unemployment benefits with additional tiers and would be paid for by closing tax loopholes and cutting defense. What say you Pence?

So once the bush tax cuts expire, it would take a new law to reenact them. Do the Republicans imagine that the Dems woudn't filibuster the shit out of anything like that? Filibusters don't require a backbone -- just a turned-down thumb.

Not that I am an expert, and I know that running on a "reform the tax code" is not likely to win elections, but isn't much of the tax code slanted to benefit people who do not, you know, WORK, for a living ? Once you get into the upper 2 %, seems like the tax laws favor people who take "risks" with their money, as opposed to the poor bastards drilling for oil who risk - their lives ... and have to pay all the regressive payroll and income-based taxes.

Asked about his party's priorities, Pence insists his top goal is renewing a policy that we already know didn't work.

It hinges on the definition of 'work' -- his is 'provides a morality play, with a satisfying narrative arc, and familiar, archetypal characters, that the audience likes, and will keep buying tickets for'. There's no more quantitative, economic content than there is in, say> Jaws, nor is there supposed to be.

since i assume paygo will still be in effect jan 2011, couldn't the obama admin demand that the gop find cuts in the budget to fund this?

Well, since he's their clown prince and part of the revolting causes to be held responsible if Rebooblicans take the House: see Corn Pone about Glenn Beck. Well LATOC can be too pessimistic and too bitter, but they sure can do a cynical and bracing takedown of a boob and his followers.

However, I consider it wrong to conflate Beckerheads, Kochtopussoisie, and "teapartiers" in the whole. I agree with the Coffee Party Movement, enough of them can be worked with and there is some common ground (like audit the Fed, transparency demands, cut corruption and wasted, eventual deficit control and cut real pork, etc.) That's my personal impression of select members as well.

"Simple thoughts are for simple minds."

Link didn't work:
Corn Pone

neil b': Nice link!

me--paygo is a congressional rule and can be replaced or modified by the congressional majority at the start of the next term. Those deficit "hawks" in the GOP HATE paygo because it forces them to account for lost revenues due to tax cuts. Much better to pretend that tax cuts pay for themselves and blame deficits on the Dems.

Why should letting people keep money that they have earned be "paid for"? It's their money, not the governments.

"Out of curiosity, which president do they think is going to sign off on that tax giveaway? "

You're joking, right? You think all of a sudden Obama, after 19 months of being completely cowed by the right and trying over and over to suck up to them, will become a powerhouse of liberal principles?

He'll sign it immediately and grovel all the while about how he's the right's friend.

re: Tlaloc's 5:45 PM post.
I knew it was too good to last!
"You're joking, right?"
No, I rather doubt she was. You however, I'm not so certain about.
"...after 19 months of being completely cowed by the right..."
Really, Tlaloc, should you be typing without benefit of your medications? I would hate for you to posst something that might embarass you. After all, anyone with such a fragile ego obviously should avoid confrontations. Or perhaps you're just hoping for that always-to-be-sought-after thrill that provoking commenters on this blog with your inane, juvenile and obviously fake "leftist" tripe provides? I call "fake" because a real "leftist" would have something realizable to offer rather than mere mouthings.
"...Obama...will become a powerhouse of liberal principles?" Bigger chance of that than of you providing us with anything worth reading...

ps: I'm really, really sorry that you didn't get your pony. Maybe next time?

"Second, note that Pence and those who agree with him have learned literally nothing in recent years."

Oh yes they have. They've learned that no politician ever lost a race endorsing tax cuts.

They've learned they will never be called out, except on lefty blogs and MSNBC, for their fiscal hypocrisy.

"...the Bush tax cuts sunset automatically on December 31, 2010, unless they are renewed prior to that. If this is correct, what the hell is Pence even talking about?"

You're right, and the politicians and pundits are ignoring this for political and stupidity reasons.

Pence is, as usual, blowing smoke out of his rear end.

"Since i assume paygo will still be in effect jan 2011, couldn't the obama admin demand that the gop find cuts in the budget to fund this?"

That's why the "Bush" tax cuts had to expire. But if ReThugs take the house, they will NOT include paygo in the rules for the next Congress.

The question is whether Obama would veto PERMANENT repeal. Given his history so far, I doubt it.