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White House: No debt deal unless tax rates on top earners go up
The Hill ^ | November 29, 2012 | Amie Parnes

Posted on 11/29/2012 2:34:58 PM PST by yoe

White House press secretary Jay Carney said Thursday there will be no deficit deal unless Republicans agree to raise tax rates on the wealthiest households.

[snip]The president wants tax rates extended on all households below that threshold, but says rates above it should be phased out.

(Excerpt) Read more at thehill.com ...


TOPICS: Breaking News; Crime/Corruption; Front Page News; Government
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Obama is once again with the help of Sen. Reid, trying to shove something down our throats without taking the time to do it correctly.....Never forget Nancy Pelosi and her "pass it now so we can find out what is in the bill........." Obama demanded billions of dollars in bailouts intimating if he didn't get it the nation would fail......the people failed in allowing Obama and Washington, D.C. to bully them into paying off the Unions....where is the success of those bailouts today....anyone believe the AP or Obama? Most of what is coming out of Obama's office is pure BS....go after congress to stop spending and printing money!
1 posted on 11/29/2012 2:35:00 PM PST by yoe
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To: yoe

More taxes + No cuts = MORE SPENDING INTO OBLIVION!!! CLOWARD & PIVEN; IRREVERSIBLE DEBT LEADING TO COLLAPSE IS THE GOAL.


2 posted on 11/29/2012 2:37:39 PM PST by Obama_Is_Sabotaging_America (IMPEACH OBAMA)
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To: yoe
President Obama is an economic illiterate. A big attaboy to the first Pubbie who says it.
3 posted on 11/29/2012 2:41:39 PM PST by gov_bean_ counter (Hope and Change has become Attack and Obfuscate.)
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To: gov_bean_ counter

f*ck him!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


4 posted on 11/29/2012 2:45:33 PM PST by ldish (Give me Freedom and Liberty or let's kick some a**!)
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To: yoe

“The wealthiest households” can more easily defer spending and shift income than the Obama administration can stop spending money on food stamps and Obamaphones. They won’t raise any significant amount of money doing this.


5 posted on 11/29/2012 2:46:23 PM PST by Sooth2222 ("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)
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To: yoe

Obama, via “Executive Orders,” is well on his way to dictatorship.


6 posted on 11/29/2012 2:47:06 PM PST by OldNavyVet
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To: yoe

Damn it, CALL THE A-HOLE’S BLUFF!!


7 posted on 11/29/2012 2:47:24 PM PST by Marathoner (Our forefathers would be shooting by now.)
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To: yoe

I’d say sequestration is pretty much a guaranteed thing at this point. Maybe not the best way of handling the mess but it’s the only acceptable point. What the President might not want to admit in public....it was Harry Reid who drafted the whole sequestration text.

To get to the real three points here. First, you have a tax system (70k pages) that is corrupted and needs total reform. Neither party will touch the topic though.

Second...the game of running a government ‘candy-store’ only works if you have a booming or positive economy. We haven’t exactly been in positive numbers for a few years (we don’t manufacture that much anymore in our own country).

Third and final...the media’s attempt to explain everything is like asking a drunk to explain nuclear fusion. You eventually realize that you have to ask a ton of questions to figure out what the facts are, and then ration yourself to a few trusted sources.


8 posted on 11/29/2012 2:48:11 PM PST by pepsionice
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To: yoe
Good. Then we have no deal. Keep the debt ceiling where it is. Let the spending cuts begin.

In any compromise between good and evil, it is only evil that can profit.

-John Galt-

9 posted on 11/29/2012 2:48:11 PM PST by Hoodat ("As for God, His way is perfect" - Psalm 18:30)
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To: yoe

If and when Boehner caves, like he has for the last four years, thereafter pictures of him should show him wearing lipstick, and maybe a big gold earring.


10 posted on 11/29/2012 2:49:26 PM PST by yefragetuwrabrumuy (Pennies and Nickels will NO LONGER be Minted as of 1/1/13 - Tim Geithner, US Treasury Sect)
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To: All

Mayhaps Obama will be in more of a mind to cut a deal when he comes back in January from his seventeen day holiday vacation in Hawaii.


11 posted on 11/29/2012 2:49:34 PM PST by SamKeck
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To: yoe

I’ve long wondered why it’s so dang important to Dems that the rich “pay their fair share,” “fair” being several orders of magnitude more than other classes, when we all know it’d barely dent the debt. Aside from how that’s just the way they talk and they don’t know any better, all I can come up with is that it’s a smokescreen for the fact that the largest class and the class whose votes everyone’s always wooing, the middle class, will inevitably end up paying for whatever we don’t default on.

I don’t mean the feds will raid their retirement funds, though probably they will. I mean most of it will be paid with the secret tax of inflation. So publicly going after Fat Cats makes it all the secreter.


12 posted on 11/29/2012 2:51:13 PM PST by Tublecane
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To: yoe

Never!
13 posted on 11/29/2012 2:53:09 PM PST by onyx (FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
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To: pepsionice

At least sequestration actually cuts things. I can almost guarantee any compromise would be the usual tax hikes now cuts later, maybe.


14 posted on 11/29/2012 2:53:55 PM PST by Tublecane
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To: yoe

FUBO


15 posted on 11/29/2012 2:54:42 PM PST by RWB Patriot ("My ability is a value that must be purchased and I don't recognize anyone's need as a claim on me.")
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To: yoe

Republicans are so helpless.

Go on interviews everywhere and say whoa, these are the hated “Bush tax cuts” which Obama opposed. Can we now get an admission they are a good thing?

They are actually letting Obama take credit for wanting to extend these tax cuts. Absurd.


16 posted on 11/29/2012 2:57:47 PM PST by Williams (No Obama)
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To: yoe

The FIRST thing to do {if they want re-election} would seem to be slash the Travel and Junketing budgets of ALL elected Federal Office holders.

ONLY “tourist class flights”; until a budget is in place.


17 posted on 11/29/2012 3:01:23 PM PST by PizzaDriver ( on)
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To: yoe

Fine. No Deal

We jump off Obama’s cliff.


18 posted on 11/29/2012 3:18:25 PM PST by eyedigress ((zOld storm chaser from the west)/?)
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To: yoe
The "wealthiest households" can easily arrange to have no income without sacrificing their standard of living, which negates the whole argument.

If what the politicians want is revenue growth, they need to cut taxes radically across all income levels and tax the people who aren't paying any income taxes.

19 posted on 11/29/2012 3:27:26 PM PST by elkfersupper ( Member of the Original Defiant Class)
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To: PizzaDriver
I believe it is within the power of the Congress to ground Air Force One and limit presidential air travel until a plan to reduce spending is submitted. Obama should be grounded until the work is done.

Likewise, Congress can cut the money being spent on the Executive Office of the President (staff). By cutting the funds Congress could shut down or squeeze departments and agencies like EPA, Education,and even Obamacare itself.

Congress has the power to inflict great pain and embarrassment on a president that will not play ball. They can charge the president with dereliction of duty for not submitting a budget as required by law. The House can bring charges against the president. The Senate would have nothing to say (no vote) on bringing charges.

20 posted on 11/29/2012 3:35:41 PM PST by Rapscallion ( OBAMA: You own it now. See if you can govern it.)
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To: yoe
Jay Carney said Thursday there will be no deficit deal unless Republicans agree to raise tax rates on the wealthiest households.

Okay. That is it. Take him at his word and wait. When the cuts automatically begin be sure to tell the public WHY this is happening and lay on the blame as Obama has done so readily!!!!

21 posted on 11/29/2012 3:40:35 PM PST by Rapscallion ( OBAMA: You own it now. See if you can govern it.)
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To: Sooth2222

Thasts only a small tax...just a leetle more...Plus the surtax plus the zerocare taxes plus plus plus...the wealthy in this country are going to get a huge screwing.

Once.

Then there will magicly be no wealthy folks..

Shut the damn thing down. DARE them to do something. Just stop ALL spending.

See who blinks.

[Not that the pubbie leadership has the ballz to do it...its still what should happen...]


22 posted on 11/29/2012 3:42:50 PM PST by Adder (No, Mr. Franklin, we could NOT keep it.)
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To: Rapscallion
They need to tax the people who aren't paying any income taxes. Start there. That will get their attention!
23 posted on 11/29/2012 3:44:54 PM PST by Rapscallion ( OBAMA: You own it now. See if you can govern it.)
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To: elkfersupper
Interesting that the press is finally inserting a hint of honesty it “terms”. Up until now, “tax increases” for the rich were labeled “expiring Bush Tax Cuts”. Now, when the middle class might be involved, the White House is labeling those same “expiring Bush Tax cuts” as “tax increases” since they effect the middle class.
The republicans have neither language skills nor the balls for this fight.
24 posted on 11/29/2012 3:47:39 PM PST by blues-train (blues train)
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To: yoe

For cryin’ out loud Boehner! Have the House go into recess until after January 1.


25 posted on 11/29/2012 3:50:35 PM PST by Enterprise ("Those who can make you believe absurdities can make you commit atrocities." Voltaire)
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To: Rapscallion

No income tax refunds for a year.


26 posted on 11/29/2012 4:00:12 PM PST by blueunicorn6 ("A crack shot and a good dancer")
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To: ldish

I believe he’s got an office boy hard at work at that very task.


27 posted on 11/29/2012 4:01:32 PM PST by Eleutheria5 (End the occupation. Annex today.)
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To: yoe

Amazing how many idiots are willing to indulge the insatiable appetite of govt at the expense of the private sector.


28 posted on 11/29/2012 4:04:22 PM PST by Gene Eric (Demoralization is a weapon of the enemy. Don't get it, don't spread it!)
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To: blues-train
The republicans have neither language skills nor the balls for this fight.

Amen.

It's all live theatre anyway.

29 posted on 11/29/2012 4:11:27 PM PST by elkfersupper ( Member of the Original Defiant Class)
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To: pepsionice

I think sequestration is the best thing. Once the economy stumbles and slows there will incredible pressure on the liberals to reduce marginal tax rates and broaden the base. The “tax the rich” argument is nonsense, but it plays well to the people.

Let the spending be cut. We can afford it and it’s necessary.


30 posted on 11/29/2012 4:17:07 PM PST by 1010RD (First, Do No Harm)
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To: blueunicorn6

That’s a good idea! No EITC and no refunds.


31 posted on 11/29/2012 4:18:57 PM PST by dinodino
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To: yoe

Mr. Speaker: Adjourn the House and say “We’ll see ya next year. And Oh, that cliff thingy? You OWN it.”


32 posted on 11/29/2012 4:41:55 PM PST by lgjhn23
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To: yoe
The House Republicans must stand strong and refuse to raise the top ordinary income rate of 35%. That is the marginal rate paid by a lot of small business owners and raising that rate would definitely slow down economic growth and job growth. All reputable economists agree on that principle--the only question is how much a marginal tax increase slows down growth. Boehner and McConnell need to bring in some top conservative economists to help make that case for them publicly.

Democrats often bring up the Clinton administration and point to the strong economic growth in Clinton's second term despite higher tax rates at that time. What that economic history demonstrates is simply that marginal tax rates are not the ONLY key factor affecting economic growth. After the Clinton tax increase, economic growth was slow and steady in Clinton's first term, mainly because of very strong demographics in America at that time. The mid-point of the Baby Boom generation turned 29 years old in 1993, the first year of the Clinton Adminstration. During the next eight years almost all the Boomers moved into their 30s and early 40s, which are the years when people buy the most big-ticket items, such as houses, appliances, furniture, and motor vehicles. Strong demographics kept growth going in Clinton's first term, despite the tax increases, and then our economy got a big break in Clinton's second term: the rapid initial build-out of the commercial internet occurred in Cinton's second term. The growth of the internet, combined with strong demographics, was powerful enough to overpower the economic drag from higher tax rates. But today we are an older country with much weaker demographics, and the internet has been almost completely built out in America and is no longer a big source of economic growth. There's no Big New Thing on the horizon to spark economic growth. So today we can't afford the economic drag from higher marginal tax rates on business owners. The democrats need to get their economics straight and stop using politically-oriented polling to determine their tax policy. Raising marginal rates on business owners and top professionals is a really bad idea for our economy today. We're already growing very slowly and higher marginal tax rates on business owners will only slow our economy even more.

Here's what I suggest the House Republicans offer in this deficit-reduction deal--Keep the top rate on ordinary income at 35% and then offer to: 1) Limit total itemized deductions to $100K for everyone, regardless of how much mortgage interest people are paying, 2) Raise the top rate on dividend income to 19% from 15% on income above $500K (with the Obamacare tax added in that takes the total rate to about 23% on income above 500k), 3) Increase the rate on the lowest bracket to the rate for the second lowest bracket for people earning more than $500K, 4) As a final offer, bump up the rate on long-term capital gains and carried interest on private equity investments from 15% to 17% (before Obamacare taxes). I would make that offer and say: that's all you get and additional revenue has to be generated through stronger economic growth.

Score that proposal, see how much increased revenue it generates, and then make sure you get spending cuts equal to that amount. Start by cutting the vast Obamacare bureaucracy that I've read about--which reportedly has a planned workforce of 150,000 government employees, IN ADDITION to all the people who already work in health care administration in the health insurance companies. That 150,000, if correct, is absolutely mind-boggling. They couldn't possibly need more than 8,000 people, using good information systems, to administer the entire Obamcare law (in addition to the people already working for health insurance companies).

33 posted on 11/29/2012 4:43:57 PM PST by socialism_stinX (Boycott all shows on ABC, CBS, CNN, NBC, and MSNBC, and report your boycott in your Nielsen survey.)
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To: yoe

I don’t think Obama/Reid/Pelosi have any intention of cutting entitlement spending for the 47% ever. They intend to cut spending that they perceive as beneficial to Republican supporters. The United States are no longer united. Democrats have killed the union.


34 posted on 11/29/2012 4:47:51 PM PST by af_vet_1981 (The bus came by and I got on, That's when it all began,)
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To: socialism_stinX

Correction to item 4 above: I forgot to say that this increase in the long-term capital gains rate and the rate on carried interest should only be on income above $500K.


35 posted on 11/29/2012 4:48:23 PM PST by socialism_stinX (Boycott all shows on ABC, CBS, CNN, NBC, and MSNBC, and report your boycott in your Nielsen survey.)
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To: Rapscallion

Bonehead and co in the house can cut off funding to everything.

They won’t.

but they could.

There is a reason the founders put control of the money in the house. Sadly, they never realized that at some point the house would be full of spineless Rino’s.


36 posted on 11/29/2012 4:48:33 PM PST by cableguymn (The founding fathers would be shooting by now..)
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Let's Put This Baby To Bed!! Less than $2.7k to go!!

The Place for Conservatives
270 FReepers with $10 or 27 FReepers with a $100 and we are over the top. How about it FReepers. Any takers?


37 posted on 11/29/2012 5:11:28 PM PST by RedMDer (Please support Toys for Tots this CHRISTmas season.)
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To: yoe

Sink the ship already! Enough of these games.

I am all stocked up on freeze dried food, water, guns and ammo.


38 posted on 11/29/2012 5:58:26 PM PST by Red in Blue PA (Read SCOTUS Castle Rock vs Gonzales before dialing 911!)
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To: Rapscallion
I agree with everything you said about Congress (the House) grounding 0dumb0's travel especially his freguent (weekly) boon doggles, etc., etc.

Now if only the Pubbies had the balls of a one-celled organism, it might work. However the Pubblies will never do it. They (especially the Pubbie leadership) are scared SHITLESS of 0dumb0 & the demoRATs.

Let the country go down the crapper is what I say!
Bring it on!
Fiscal cliff, go for it!
Rioting in the streets, hilarious (especially when the blacks burn down their own neighborhoods)
Vigilante squads to patrol our neighborhoods, sounds great, sign me up!

39 posted on 11/29/2012 7:22:14 PM PST by rcrngroup
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To: rcrngroup
Vigilante squads to patrol our neighborhoods, sounds great, sign me up!

Well, I know lots of places are losing police protection and the sort, I often said that maybe we need volunteer police departments. Me, I'd buy a 1965 Ford Galaxie and/or 1968 Mercury park Lane (like McGarrett from Hawaii Five-O), shove in a VHF/UHF and/or CB radio, carry a .38 revolver and off we go. B-)

I would not mind a 1967/68 Chrysler made car like in "Adam-12" or perhaps a 1969 Plymouth like the Penna State police used.
40 posted on 11/29/2012 8:51:51 PM PST by Nowhere Man (It is about time we re-enact Normandy, at the shores of the Potomac.)
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To: yoe

Raise the rate .001% ant tell the black bastard to sign it!!


41 posted on 11/29/2012 8:53:33 PM PST by dalereed
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To: yoe

No tax increases unless there are serious spending cuts to the departments and agencies that do not move our country, “forward,” Mr. President.


42 posted on 11/30/2012 3:26:49 AM PST by EBH (0bama is guilty of willful neglect of duty.)
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To: yoe
White House press secretary Jay Carney said Thursday there will be no deficit deal unless Republicans agree to raise tax rates on the wealthiest households.

And the response should be, "There will be no deficit deal until Democrats offer up spending cuts and the spending cut bill is passed into law. Democrats have broken promise after promise and proved they cannot be trusted to do what they say they will do. In order to ensure a bipartisan solution, Democrats must act first."

43 posted on 11/30/2012 3:31:07 AM PST by trebb (Allies no longer trust us. Enemies no longer fear us.)
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To: yoe

I would like to see a tax increase for everyone who voted for and supported the Kenyan gangsta and his nightmare for America. It’s time those freeloading bass turds started paying THEIR “fair share”. This should be a “starting point” for Republicans.


44 posted on 11/30/2012 3:57:14 AM PST by FlingWingFlyer (Don't tax me bro! Tax that guy over there!)
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To: FlingWingFlyer
I would like to see a tax increase for everyone who voted for and supported the Kenyan gangsta and his nightmare for America. It’s time those freeloading bass turds started paying THEIR “fair share”. This should be a “starting point” for Republicans.

AMEN!!!!!

45 posted on 11/30/2012 5:05:30 AM PST by yoe
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To: yoe

It’s time for Barry’s supporters to put a little “skin in the game”.


46 posted on 11/30/2012 5:14:07 AM PST by FlingWingFlyer (Don't tax me bro! Tax that guy over there!)
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To: yoe

The solution to the revenue side of the equation is to decrease the Standard Deduction. That is the fair and equitable revenue solution.

Any other deduction fiddling for those who itemize and neglecting those who do not itemize is blatantly unfair.


47 posted on 11/30/2012 5:17:49 AM PST by bert ((K.E. N.P. N.C. +12 .....The fairest Deduction to be reduced is the Standard Deduction)
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To: yoe

I can honestly say “I hate them all”. Other than a select few, Paul Ryan being just about the only one I can think of at the moment, I truly hate them all. They discust me, both parties.


48 posted on 11/30/2012 6:33:58 AM PST by southernindymom
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To: Rapscallion

Congress ran in 2010 saying they would defund obamacare. Of course, they didn’t defund it. But apparently they have the power otherwise the dems and their media would have screamed constantly that “They’re lying! They can’t defund it!”


49 posted on 11/30/2012 8:58:35 AM PST by Terry Mross (I haven't watched the news since the election. Someone ping me if anything big happens.)
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To: blueunicorn6
No income tax refunds for a year.

You want the federal monster to keep my money that was withheld in excess of my tax liability? I thought the idea was to lower tax rates, but you want to increase effective tax rates. Now, if you mean, no 'refundable' tax credits that 'refund' money in excess to the amount paid, I can jump on board with that.

50 posted on 11/30/2012 10:00:24 AM PST by tnlibertarian
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