Posted on 12/19/2012 12:08:21 PM PST by Perdogg
Matt Drudge. Paging Matt Drudge. Please pick up the white phone in the lobby.
Is this supposed to be a problem for Obama? Those that voted for him, whether legally or not, won’t think so. As for the next presidential election, it may be cancelled.
Correct. One of the better moves in weeks.
The question is not whether Obama is going to get his tax increase. The question is whether the GOP can get anything in return.
Making the tax cuts permanent for 99% of the taxpayers is a decent start.
We are on much strong footing in 2013 with the debt limit expiration.
The fact is, Obama campaigned on raising taxes and won. He won a mandate to do exactly that. So let him have his damned tax increase.
46 posts before this got stated. Shows just how thick the smokescreen is on the issue. Thanks Hoodat!
The democrats seem to forget about state income taxes, which have a marginal rate of about 9.5% in several high-tax states. When you add the state tax rate in with a higher federal rate of 39.6%, even with the state tax deduction, you're now up to an effective margin rate of approximately 45.3%. That is a serious disincentive for business investment and expansion. Some of the lost investment and expansion will be offset by increased investment by corporations that pay the 35% corporate tax rate as those corporations expand where small businessmen decide not to expand. But not all of the lost investment will be made up by bigger corporations. Some of that lost investments is in small "niche" businesses or in small markets that are not big enough opportunities for corporations to bother with. Any time a business investment or expansion is canceled because the owners decide it's just not worth it due to high tax rates, there is then a substantial multiplier effect through the larger economy that is also lost. That is how US economic growth declines significantly because of higher tax rates.
The best way to raise revenue is to raise marginal rates only above $1 million and then limit itemized deductions to $100K, excluding charitable contributions. In the long run, that will get us more economic growth and more revenue than raising total marginal tax rates (which are already very high in many states) on business owners who earn less than $1 million.
Obama: Oh, boy. A no-brainer. Largest tax hike, here we come!
When the fiscla cliff happens, it will be blamed on the GOP. Remember this is about the agenda, not taxes.
If it’s a strong statement from Speaker Boehner, he made a mistake.
Speaker Boehner your getting more pathetic by the second. You have given in on every thing the Democrats wanted and they still didn’t accept the deal....Now you are Begging them to take the deal Pelosi approved??? Pass the Republican plan in the House now and send it to the Senate!!!!
Let’s hope that he has the votes. A tax rate increase on those making over $1 million is really not that significant IMHO, because people who have over a million a year in income can easily shift their income around between dividends, capital gains, deferrals, etc., such that they won’t pay that much more in the end. I think 60% of the public has bought Obama’s crap about “fairness” for the “millionaires and billionaires”, so cut it down to strictly them and let it go, while at the same time making the Bush tax cuts permanent for everyone else.
Why don’t the Republicans in the House pass Plan B TODAY? The Republicans need to assert now and every five minutes if necessary that THEY are the ones who want to preserve the Bush tax cuts for 99-plus percent of Americans.
If Obama and the Democrats refuse to support the Republicans, then the Republicans will be able to remind every taxpaying American next year that the reason there’s less money in their paychecks is because it was stolen from them by Ebenezer Obama and the 52 Democratic Scrooges in the Senate.
Then the House Republicans can pass another bill re-instating the lost tax cuts, and once again Obama and the Democratic Senate will have to make an important decision: Do they want to extend the biggest tax increase in American history which they allowed to happen, or will they show some sympathy toward the struggling middle class and join the Republicans in reinstating the Bush tax cuts?
If Obama allows the country to go over the cliff, he will be the one to fall the hardest.
Taxamageddon was upon us the moment Obama got re-elected.
Or how about my bumper sticker slogan from a few months back:
No Greece!
or
Democrats=Greece
“So are you saying you believe 0bama and not Boehner?”
Uh Yeh!! When was the last time Obama didn’t get exactly what he wanted out of Boehner? The answer is never.
All we have?! How about demanding the Senate PASS A BUDGET? Reminding everyone the OCare taxes? How about 1.5TRILLION budget deficits (baseline budgets)? Wasn’t there a report, not THAT long ago, outlining the duplicitous nature of Fedzilla itself (talk about a STARTING point)?
No, we have the RINOs cheering and championing a tax increase instead, shortly after Boner bend-over and handed O the KY, with NO plan on reducing the economic slavery D.C. is (again) forcing down our throats.
Reasonable....How about starting w/ ZERO? As in, zero out the budgets of extra-Constitutional departments, committees, etc.? I haven’t heard word ONE about that dusty ol’ piece of paper since Mittens accidentally brought it up in a debate.
The GOP doesn’t have the stones to do what’s right, lay it out (it’s called BROKE) and start rolling back the tide. But they’ll be there next year, with the hands out wondering why the $$ train is dry and they continue to lose at the ballot box...
So, some dumbass missed the 2010 results.
Perhaps the ballot box is no longer significant.
Pray for the republic.
In 2011 because of that election a “ grand bargain” was on the table for 10-1 spending vs revenue and the house repupublicans stopped it. Now we are looking at 1-1. For those who think the republicans are going to look good with this plan b kabuki theater I would point you to the polls which show a completely different story. This is the first time I think the left and Free Republic agree. The left is begging to go off the cliff. They think Obama is giving too much away. As a party we have to get past this. Short term we may claim some sort of victory long term it will be devasting for the party.
Remember policies and tax codes can be changed but if you are not in power then you are stuck deciding on which will suck the least. We need to get past this and think long term. Make the best deal you can and move on. Otherwise 2014 and beyond are going to be worse for our party and we will continue the march to the left.
We had a bad economy and still could not win. Obama ran on republicans pandering to the rich only. This is not going to end well for us no matter how much you try to say Obama tax increase.
Soap box is bought and paid for, ...ballot box has been hacked ... Jury box is filled with idiots ... Ammo box is last resort. They do not want to see the last resort....
Stay safe Glock Rocks.
Merry Christmas
They should be doing what the democrats like to do- run toward the nearest available microphone and camera and keep repeating the talking point, till every low information voter in the country hears this many time over.
The _resident will NOT own this tax.
his toadies in the MSM will make sure of that. They will blame the Republicans who would not tax the so called ‘2% rich’ causing the Bush Tax Cuts to sunset.
You and I will no better, but the morons who voted for him or those who just don’t understand, will blame the greedy republicans...
it is a given and lose, lose for the republicans
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.