Agreement has been reached on all tax issues, says Senate Minority Leader McConnell, speaking on...


Agreement has been reached on all tax issues, says Senate Minority Leader McConnell, speaking on the Senate floor. Stocks move to session highs, the S&P 500 +1.5%.
Comments (15)
  • barleycapital
    , contributor
    Comments (162) | Send Message
     
    We have a deal?
    31 Dec 2012, 03:12 PM Reply Like
  • SoldHigh
    , contributor
    Comments (991) | Send Message
     
    Sell the news imo
    31 Dec 2012, 03:14 PM Reply Like
  • wyostocks
    , contributor
    Comments (9113) | Send Message
     
    A sell out by the Republicans.
    31 Dec 2012, 03:18 PM Reply Like
  • tom_t
    , contributor
    Comments (318) | Send Message
     
    Funny, the Democrats say the same thing. That's how screwed up they all are. Although I guess if both sides aren't happy, then maybe that's the definition of compromise. Either way, this is just a tax Band-aid. Deficit will continue to grow.
    31 Dec 2012, 03:30 PM Reply Like
  • cstauffer
    , contributor
    Comments (542) | Send Message
     
    tom, the deficit has been falling over the last three years and is projected to continue to fall over the next several years assuming that we do not fall back into a recession during that time.
    31 Dec 2012, 03:34 PM Reply Like
  • Pampake
    , contributor
    Comments (2) | Send Message
     
    Out manned and out gunned....
    31 Dec 2012, 03:40 PM Reply Like
  • Johann Galt
    , contributor
    Comments (247) | Send Message
     
    cstauffer:

     

    Good point. The deficit almost got to one trillion dollars in 2012, down from 1.4 trillion in 2009.

     

    Of course, the deficit in 2008 was 458 billion, and in 2007-- 161 billion.

     

    No matter, the point is the deficit has decreased since 2009. At this rate, we'll be back to 2008 standards by . . . 2016? Only 8 years! Assuming everything I've assumed is correct.
    31 Dec 2012, 03:43 PM Reply Like
  • cstauffer
    , contributor
    Comments (542) | Send Message
     
    Welcome to a post financial crisis balance sheet recession recovery.
    1 Jan 2013, 11:07 AM Reply Like
  • dieuwer
    , contributor
    Comments (2924) | Send Message
     
    Is Boehner on board? If not, no deal.
    31 Dec 2012, 03:24 PM Reply Like
  • Mike Spelman
    , contributor
    Comments (84) | Send Message
     
    Forget Boehner (who probably is on board), how about his caucus that didn't vote for his own plan
    31 Dec 2012, 03:30 PM Reply Like
  • davidingeorgia
    , contributor
    Comments (2661) | Send Message
     
    Apparently a deal on all tax issues has been struck. No deal on spending cuts yet, though, which I would assume means no final deal yet. Judging from the reaction to the details are leaking, the left wing of the Dems is sounding more angry about this deal than the House Republicans are so it may be DOA, Boehner or no Boehner on board.
    31 Dec 2012, 03:30 PM Reply Like
  • dieuwer
    , contributor
    Comments (2924) | Send Message
     
    Dems have to do as the prez sayz.
    31 Dec 2012, 03:38 PM Reply Like
  • taxman100
    , contributor
    Comments (586) | Send Message
     
    Tax increases, new spending, and no cuts. In short, a complete sell-out by the Repibs. However, that is the will of the ruling and dependency classes, which is now the majority of Americans.

     

    A dead economy followed by an eventual default and/or hyperinflation will occur in our lifetime - I think 10 to 20 years from now
    31 Dec 2012, 03:34 PM Reply Like
  • Matt Jonza
    , contributor
    Comments (86) | Send Message
     
    Question: Have you heard of the Laffer Curve?

     

    Taxes need to go up. As much as I hate having less money deposited in my bank account every two weeks, the current path we are on isn't sustainable. So for the good of the country, my future, and my kid's future, we all need to pay a little more. This current deal doesn't do enough in my opinion.

     

    Reagan cut the top tax bracket from 60% to 50%. We continued to lower rates because it was politically appeasing, not because it was "stimulative" to the economy.

     

    That being said, entitlement are out of control and really need to be addressed. We need a whole lot more compromise going around if you ask me.
    1 Jan 2013, 01:24 AM Reply Like
  • Bear Bait
    , contributor
    Comments (922) | Send Message
     
    One day during what seems to be my directionless web surfing I ran across a graph of the deficit from sometime about the end of WWII to 2010 or so. The trend line representing the deficit since 1950 to 1982 was in an almost 45 degree downtrend. Of course in 1982 we had the Reagan tax cuts, at that time the trend line reversed and headed upwards in about a 45 degree angle. About 1992 the Reagan tax cuts were repealed and the deficit trend line again turned downward. In 2002 we had the Bush tax cuts, and you guessed it; again, the deficit trend line turn upwards and has been heading upwards ever since. Historically tax rates on the wealthy are the lowest they have ever been, period! I personally would be tickled to death to be making 400,000 a year so I could be paying that extra 5% in taxes.
    1 Jan 2013, 10:26 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs