Posted on 11/15/2011 10:23:32 PM PST by rabscuttle385
Republican leaders have started laying the groundwork to persuade GOP lawmakers to support a compromise on a tax increase, an issue that has deadlocked a congressional "super committee" pressed to come up with a deficit-reduction plan by next week.
GOP leaders on Tuesday presented to their rank-and-file members a scenario under which Republicans would agree to $250 billion in new tax revenue over the next 10 years, largely by limiting itemized deductions for upper-income households.
(Excerpt) Read more at latimes.com ...
Here we go, tax increases.
We’re getting Sanduskied.
If our deficit is 1 trillion every year, in ten years thats 10 extra trillion in addition to the 14 trillion we are already in debt.
How is collecting 250 billion more over those ten years going to help?
This is all just arguing over how to arrange the deck chairs on the Titanic. Its all for show. Even if they collected a trillion a year in extra taxes we would still be going deeper and deeper in debt.
..250 billion? Over ten years?
Oh, my, how impressive. That’s Obama’s deficit in, what, 76 days? And just what will this..25 billion per year actually net in spending cuts? Because this is just dribble compared to one and a half trillion dollars in deficit spending.
Let me guess - even more deficit spending!
Once again :~(
They should’ve never agreed to this debt deal and Supercommittee BS in the 1st place, since it was just going to inevitably play out in Obama’s favor.
The Stupid Party strikes again.
Lol, well the good news is that the can so big it’s gonna real hard to kick it down the road very far. I am thinking open warfare in D.C. withing 60 days. I think the debt ceiling will have to be increased within 60 days and that fight should get things going nicely.
It's not, we are very close to the point where math kicks in. Once that happens nobody will be able to do anything to prevent a collapse. In fact it might already be to late.
HELL, NO!
If this is conservatism, I’d hate to see what socialism is like.
Let me make it clear: I didn’t create the mess in Washington and I shouldn’t have to pay out of my pocket to clean it up.
Greek-style austerity policies don’t have my support, period.
I’m opposed to austerity if it means we bail out the politicians from making tough decisions.
Tax increases are just a way of passing the buck. They blame us for not giving Washington more revenue.
I’m fed up with being nickled and dimed to death. And nothing has changed in the way the federal government is run.
What I’m sick of is the political class playing their games on the deck of the Titanic.
C’mon now. Is this really a surprise to anyone here?
Did anyone expect that Boehner wouldn’t fold up like a cheap tent in a gale?
We all know that Boehner is a liar and fraud on the subject of cutting spending. He’s proven that with his actions in the past. He’s all talk, no walk.
A tax increase will be a blow to the already tottering economy.
It won’t raise new revenues and it will end up widening the deficit.
GOP leaders are stuck on stupid and have no grasp of economics and they’re ready to ditch principle in order to get a deal with Democrats who hate their guts.
With friends like them, conservatives don’t need enemies.
Surrender monkeys getting their freak out!
Tax increases?
Are you foe a flat tax? How about Cains 9-9-9 plan?
If you do then you cannot logically be against increasing of tax revenue through elimination of deductions because that is EXACTLY what the simplified flat tax and 9-9-9 are all about.
Too many people here are of a knee jerk mentality and grab onto the lib media headline without bothering to read the story which clearly states what I have said above.
My understanding is that in many states, as a matter of proper accounting practice, it is the rule that "tax breaks" are an expenditure.
Here's what the Republicans should be saying:"Our Country has a Spending Problem. Tax Breaks are Spending. Eliminating Tax Breaks is a Reduction in Spending".
Keep in mind that the extra income from this spending cut, i.e. elimination of tax breaks, would be offset by lowering all the individual tax rates.
Closing loopholes does just that and that is what Boehner is proposing.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.