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Analysis says Reid’s budget plan contains gimmicks that could result in tax increases
Daily Caller ^
| July 30, 2011
| Amanda Carey
Posted on 07/30/2011 7:20:45 AM PDT by bobsunshine
click here to read article
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To: bobsunshine
Frankly, maybe the GOP should stop fighting so hard to save the hides of obama and reid
I am prepared to face higher tax bills, which will stop virtually all of my discretionary spending and probably also cut into essentials. Life will change, Maybe that is OK if it proves once and for all, certain economic realities
It will be a grim satisfaction to watch these progressive fools totally ruin the economy.
Maybe Boehner should have faced down obama and invited him to to abolish the Bush tax cuts. Now. Just do it. Separate addendum, to be signed if the President chooses to do it.
The “Obama Fair Tax Amendment”
I am so sick of the democrats campaigning against the “Bush Tax cuts for the rich”
I challenge the left wing of the democrat party to just stay in control of the US economy. Do it your way. Drop the “Bush Tax rates” and go back to the tax tables for 2000.
Please progressives, Raise taxes. Just do it.
Do it NOW, while unemployment is over 9% and the economy is “growing” at less than 1% a quarter.
RAISE TAXES. If that's the progressive solution, then let's just try it, shall we? GOP, stand back. Let obama take full credit for the outcome. There is not a more deserving man in the uSA, for what will be the result of higher taxes in a recession/depression
21
posted on
07/30/2011 8:35:14 AM PDT
by
silverleaf
(All that is necessary for evil to succeed, is that good men do nothing)
To: bobsunshine
Reid is an out right liar and should be called on it.
22
posted on
07/30/2011 8:36:10 AM PDT
by
y6162
To: bobsunshine
From the article,
....."Congress acts to fix or raise the AMT patch every year, "............."Reids proposal assumes Congress will not act to fix the AMT at the end of 2011.
All told, the expired tax cuts would cost $3.8 trillion."........
....."Another questionable measure is $1 trillion in savings achieved by cutting the defense budgets for the wars in Iraq and Afghanistan. The analysis questions that claim of $1 trillion in savings, saying that the related spending is not even supposed to occur. ".......
WOW.....talk about DISHONEST. Further into the article, Jeff Sessions brings up more things wrong with this bill:
......"First, section 301 of the amendment directs the Joint Select Committee to reduce the deficit to 3 percent of GDP which is a weak and insufficient goal. The amendment further states that the Joint Committee may include recommendations and legislative language on tax reform. This invites tax increases ".........(to cover this loss in 3.4 Trillion loss in AMT if extended)
........." Second, Reids amendment would deem a budget resolution for fiscal years 2012 and 2013 "........That means that legislation to extend any of the tax cuts would be harder to enact because it would face a point of order under section 311 of the Budget Act for reducing revenues.".........
23
posted on
07/30/2011 8:38:03 AM PDT
by
Girlene
To: Son House
>>Cavuto still fears everyone will drop their securities if they are not AAA.<<
A lot of brokerages have rules that they cannot invest in anything lower than AAA.
24
posted on
07/30/2011 8:38:55 AM PDT
by
B4Ranch
(Allowing Islam into America is akin to injecting yourself with AIDS to prove how tolerant you are..)
To: bobsunshine
Was there ever any doubt?
They’re dimocRATs.
25
posted on
07/30/2011 9:08:22 AM PDT
by
TribalPrincess2U
(I pledge allegiance to the flag of the United States of America.. VOTE out the RATS!)
To: bobsunshine
COULD contain gimmicks that would raise taxes???
Ya DON’T say...
A Democrat? Doing ANYTHING possible to raise taxes? Why, that’s practically unheard of! ;-P
26
posted on
07/30/2011 9:24:02 AM PDT
by
J40000
To: bobsunshine
FOLKS! THE TAX INCREASES AND ADDITIONAL SPENDING ARE BUILT INTO CURRENT LAW!!!!
Obamacare contains scheduled tax increases and scheduled new spending. The 'Bush Tax Cuts' are scheduled to expire in 2012. Social Security & Medicare spending increase dynamically with Baby Boomers reaching their 60s.
Avoiding new taxes and spending in the 2012 budget will accomplish nothing. The new taxes and spending are already in the laws.
Not increasing the debt limit is the same as a 'Balanced Budget'. If the government can't borrow, it must live on current revenue flow. So, stall!! Don't pass an increase in the debt limit.
To: bobsunshine
Harry POS Reid ALERT! “Everything about socialism is sham and affectation.” 23.11 Ch23; Evil; Economic Harmonies; Frederic Bastiat 1801-1850
28
posted on
07/30/2011 11:52:43 AM PDT
by
PGalt
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