Poll: To Reduce Deficit, Most Americans say Tax the Rich More

As Washington gears up for a fight over federal spending and the national debt, lawmakers may want to consider some new polling figures.

A survey from CBS News' "60 Minutes" and Vanity Fair magazine shows that most Americans, given a set limited choices for balancing the national budget, would prefer to see taxes increased for the wealthy.

As many as 61 percent said they would prefer increasing taxes on the rich over three other options: cutting defense spending, cutting Medicare or cutting Social Security. Another 20 percent chose cutting defense spending as the best option. Just 4 percent said they would cut Medicare, and just 3 percent said they would cut Social Security.

Congress Sends Tax Package to Obama; Estate Tax Kept at Lower Rate

Congress has sent President Obama a controversial bipartisan tax deal following its approval in the House. Just before midnight, the House voted to 277 to 148 to extend the Bush-era tax cut for the wealthiest Americans and reduce the estate tax in return for a 13-month extension of jobless benefits and a handful of tax credits for low- and moderate-income Americans. At least a quarter of the tax savings under the deal will go to the wealthiest one percent of the population. The only group that will see its taxes increase are the nation’s lowest-paid workers. A group of House Democrats failed in their attempt to block a provision that reduces the estate tax; their proposal to increase the estate tax was defeated in a stand-alone vote of 233 to 194.

Way to go US DEMS--- thanks (ass holes)

House Dems Reject Obama-GOP Tax Deal

The Senate appears headed toward approval of President Obama’s controversial fiscal deal with Republicans amidst an uproar by Democratic members of the House. This week, Obama agreed to extend the Bush-era tax cut for the wealthiest Americans and reduce the estate tax in return for a 13-month extension of jobless benefits and a handful of tax credits for low- and moderate-income Americans. According to the New York Times, at least a quarter of the tax savings under the deal will go to the wealthiest one percent of the population. The only group that will see its taxes increase are the nation’s lowest-paid workers. The Senate has scheduled a test vote on Monday after opening debate on the measure last night. Meanwhile in the House, the Democratic caucus passed a non-binding measure denouncing the tax deal. At the White House, President Obama urged lawmakers to drop their opposition.

President Obama: "The average American family will start 2011 knowing that there will be more money to pay the bills each month, more money to pay for tuition, more money to raise their children. But if this framework fails, the reverse is true. Americans would see it in smaller paychecks that would have the effect of fewer jobs. So as we meet here today to talk about one important facet of our economic strategy for the future, I urge members of Congress to move forward on this essential priority."

Senate GOP Blocks "Don’t Ask, Don’t Tell" Repeal, DREAM Act, 9/11 Settlement

The U.S. Senate has failed to advance a measure that would repeal the military’s ban on openly gay and lesbian servicemembers known as "Don’t Ask, Don’t Tell." On Thursday, the Senate fell three votes short of advancing a military spending bill with a repeal provision attached. The vote raises the prospect that the ban will not be repealed before Republicans take over the House and weaken the Democrats’ Senate majority next month. In another vote, Republicans also blocked a measure to advance the DREAM Act, a provision that would grant undocumented young people a chance at citizenship. Republicans also blocked a measure to provide up to $7.4 billion to workers sickened during the cleanup at the World Trade Center following the 9/11 attacks. The measure passed the House earlier this year.