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 ...
More taxes + No cuts = MORE SPENDING INTO OBLIVION!!! CLOWARD & PIVEN; IRREVERSIBLE DEBT LEADING TO COLLAPSE IS THE GOAL.
f*ck him!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
“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.
Obama, via “Executive Orders,” is well on his way to dictatorship.
Damn it, CALL THE A-HOLE’S BLUFF!!
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.
In any compromise between good and evil, it is only evil that can profit.
-John Galt-
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.
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.
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.
At least sequestration actually cuts things. I can almost guarantee any compromise would be the usual tax hikes now cuts later, maybe.
FUBO
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.
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.
Fine. No Deal
We jump off Obama’s cliff.
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.
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.
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!!!!
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...]
For cryin’ out loud Boehner! Have the House go into recess until after January 1.
No income tax refunds for a year.
I believe he’s got an office boy hard at work at that very task.
Amazing how many idiots are willing to indulge the insatiable appetite of govt at the expense of the private sector.
Amen.
It's all live theatre anyway.
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.
That’s a good idea! No EITC and no refunds.
Mr. Speaker: Adjourn the House and say “We’ll see ya next year. And Oh, that cliff thingy? You OWN it.”
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).
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.
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.
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.
Sink the ship already! Enough of these games.
I am all stocked up on freeze dried food, water, guns and ammo.
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!
Raise the rate .001% ant tell the black bastard to sign it!!
No tax increases unless there are serious spending cuts to the departments and agencies that do not move our country, “forward,” Mr. President.
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."
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!!!!!
It’s time for Barry’s supporters to put a little “skin in the game”.
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.
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.
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!”
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.
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.
