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Obama-Republican Deal Could Mean Tax Hike For One In Three Workers

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  • The tax deal reached between President Obama and congressional Republicans could mean a higher tax bill for roughly one in three workers as a result of the Social Security tax cut Republicans pushed as a replacement for the current Making Work Pay tax credit.
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  • Olbermann Special Comment on the deal on the wealthiest Americans tax-cut extension
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Ryan Grim, Huffington Post

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If you like reading this article, consider contributing a cuppa jove to Evergreene Digest--using the donation button in the above right-hand corner—so we can bring you more just like it.

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The tax deal reached between President Obama and congressional Republicans could mean a higher tax bill for roughly one in three workers as a result of the Social Security tax cut Republicans pushed as a replacement for the current Making Work Pay tax credit.

The Making Work Pay credit gives workers up to $400, paid out at 8 percent of income, meaning that anybody making at least $5,000 gets the full amount -- and gets as much as anybody else. Its replacement knocks two percentage points off the payroll tax cut, meaning a worker would need to make $20,000 to get a $400 break. Of the nation's roughly 150 million workers, around 50 million make less than $20,000 and will see at least some increase as a result.

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Olbermann Special Comment on the deal on the wealthiest Americans tax-cut extension, Hissyspit, Democratic Underground

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  • In exchange for this searing and transcendent capitulation the President got just 13 months of extended benefits for those unemployed for less than a hundred weeks, and they got nothing, absolutely nothing, for those unemployed for longer, the 99ers.
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  • (It is) not disloyal to say Obama (is) 'Goddamned Wrong,' Republicans (are)  'Treasonous'.
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  • Mary Landrieu (D-LA): 'Obama-McConnell Plan' Is 'Almost Morally Corrupt'
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House Rejects Mine Safety Bill Prompted By West Virginia Disaster

Sam Hananel, Associated Press/Huffington Post

The House on Wednesday (Dec 8) rejected a bill that would have adopted sweeping changes in mine safety regulations in response to the explosion that killed 29 West Virginia coal miners in April.

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The measure would have made it easier to shut down problem mines, increased penalties for serious safety violations and offered more protection for whistle-blowers.

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Democrats brought up the bill under a special procedure in which debate was limited and no amendments were allowed. That procedure requires a two-thirds majority to pass. The vote – largely divided along party lines – was 214-193 in favor of passage, short of the two-thirds needed.

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Whitehouse says companies get a tax break for moving jobs overseas

"The law, right now, permits companies that close down American factories and offices and move those jobs overseas to take a tax deduction for the costs associated with moving the jobs to China or India or wherever."

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Sen. Sheldon Whitehouse (D-RI), PolitiFact.com

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Submitted by Evergreene Digest Contributing Editor Lydia Howell

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If you like reading this article, consider contributing a cuppa jove to Evergreene Digest--using the donation button in the above right-hand corner—so we can bring you more just like it.

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It's bad enough when companies take U.S. jobs and move them overseas to take advantage of lower labor costs. But does the U.S. tax code actually offer an incentive for firms to engage in such "offshoring?"

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That was the assertion of Sen. Sheldon Whitehouse earlier this fall when he went on the floor of the Senate to argue for a bill, designated S-3816<> and known as the "Creating American Jobs and Ending Offshoring Act."

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Unemployed and Unnoticed

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  • Today, Congress sets a new record; in the last 40 years, it has never allowed extended unemployment benefits to expire when the unemployment rate was above 7.2 percent.
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  • 2 million lose jobless benefits as holidays arrive
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  • Republican attack on labor goes way beyond Congress
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Progress Report, Think Progress

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Today (Nov 30), Congress sets a new record; in the last 40 years, it has never allowed extended unemployment benefits to expire when the unemployment rate was above 7.2 percent. But today, in an economy that faces a 9.6 percent unemployment rate, Congress will let the benefits expire and force 2.5 million Americans to lose their benefits in the midst of the holiday season. As the New York Times notes, such a "lack of regard for working Americans is shocking," especially when juxtaposed with decades of bipartisan support for similar measures.

But, in their pitch to obstruct any legislative progress, the Republicans of the 111th Congress have waged a two-year, all-out war against extending benefits, regardless of who it may hurt. The GOP's chief defense of its position is the $12.5 billion cost of a three-month extension, or $60 billion for a full year. Such feigned concern for the deficit is made all the more deceptive when considering the same Republicans are simultaneously demanding that Congress extend the Bush tax cuts for the wealthy. And, while these tax cuts for the rich provide very little economic stimulus, the unemployment benefits they obstruct have provided a vital economic boost to struggling families and businesses. By prioritizing the pocketbooks of the privileged over the needs of the American worker, Republicans are turning their back on their two alleged priorities: the American people and the economy.

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2 million lose jobless benefits as holidays arrive, Tom Breen, Associated Press/MSNBC
Even if Congress does lengthen benefits, cash assistance is at best a stopgap measure, said Carol Hardison, executive director of Crisis Assistance Ministry in Charlotte, N.C., which has seen 20,000 new clients since the Great Recession started in December 2007.

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Republican attack on labor goes way beyond Congress, Scott Marshall, People's World<>

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  • The coming attacks on labor are much more than big business's legislative program to roll back labor law. The Republican, tea party and corporate right-wing agenda is much broader than legislation.
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  • This article is Part Two of a series. Part One,  "Republicans target labor," appeared last week (Nov 7-13).
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