CEOs Warn Congress of 'Grave Consequences' in Taxmageddon

ATR ^ | 2012-10-18 | Rhett Brooks

[92nina]

CEOs fear of recession and high interest rates resulting from Taxmageddon.

[Gaffer]

If that SOB wins again, Ima convert my 401K before December 31 and hide it in Simmons National Bank and Trust (Simmons mattress company, that is).

[Delhi Rebels]

If Obama wins then the GOP will filibuster anything he proposes. If Romney wins then the Democrats will filibuster anything he proposes. Either way we’re hosed.

[sten]

I can either have a company in the US and pay massive taxes on all monies received (35 + 5 + 6.1 + state + ss x 2) or have the company based in a low tax country (low == 10%) and only pay US taxes on (wages + bonus + distribution) pushed to the employee... leaving money in the corporate account for the following year

hmmm... tough choice

Americans get paid... and the company has funds for the following year

of course, the govt doesn’t get it’s pound of flesh to buy votes with (or clunkers, or 0bamaphones, or etc)

[nickcarraway]

I am very scared “Read my lips” Romney will sign off on a huge tax increase.

[Defiant]

A good reason for the new Senate to rewrite the filibuster rules. Right now, they require a supermajority that is not provided for in the Constitution. Filibusters should be allowed for a limited duration, but then a vite must be allowed. This is especially true with appointments.

[Delhi Rebels]

I am very scared “Read my lips” Romney will sign off on a huge tax increase.

I wouldn't be the least bit surprised if he did. I honestly believe that Romney may be the first sitting president in 160 years not to be renominated by his party.

[E. Pluribus Unum]

Ubama should just implement his father's dream, a 100% tax rate.

That way he can take from everyone according to their abilities, and give to those who deserve it, and starve the ones who don't.

[who_would_fardels_bear]

Dear President Obama,

We officially declare ourselves traitors and enemies of these United States of America. We tried to destroy the economy with willful greed and mindnumbing incompetence.

Please intern us now at Guantanamo for our guilt and for the future safety of the American economy.

Yours Sincerely,

The Financial Services Sector

[Roccus]

If that SOB wins again, Ima convert my 401K before December 31 and hide it in Simmons National Bank and Trust

With the new $100 bills coming out next year, you might have a problem.

[Delhi Rebels]

A good reason for the new Senate to rewrite the filibuster rules. Right now, they require a supermajority that is not provided for in the Constitution. Filibusters should be allowed for a limited duration, but then a vite must be allowed. This is especially true with appointments.

True, but it won't happen. One, that assumes that the GOP takes the Senate, not a done deal. Two, under the Senate rules even rule changes can be filibustered. Three, even if the GOP ran the Senate I don't see Mitch McConnell having the spine to use the nuclear option to force a rule change by simple majority vote.

[Gaffer]

Lotsa 20s then

[Defiant]

At the start of a new Senate, the new Senate cannot be bound by the rules of the old one. They can create whatever rules they want and pass them by a majority. Once they have done that, they have to live with whatever supermajority rules they have created. The time to fix the filibuster is at the start of a new session.

Two, Republicans will win the Senate. It is a lock.

Three, you are right, the Republicans won't do it. They are too cowardly. The Washington Post will say bad things about them.

[Delhi Rebels]

At the start of a new Senate, the new Senate cannot be bound by the rules of the old one. They can create whatever rules they want and pass them by a majority. Once they have done that, they have to live with whatever supermajority rules they have created. The time to fix the filibuster is at the start of a new session.

I believe you are wrong on that.

Two, Republicans will win the Senate. It is a lock.

Nothing is a lock.

Three, you are right, the Republicans won't do it. They are too cowardly. The Washington Post will say bad things about them.

If you were right on number one then it'd be automatic. But Senate rules apply until they are modified or revoked regardless of whether it's a new Senate or not. So there is no way filibuster rules will change.

[mrsmith]

Financial Services Forum is concerned about the machinery of government...

[Defiant]

It is a fundamental principle that a newly constituted Senate, with 20 or more new members, is not bound by whatever agreement the prior Senate chose to use as its organizing principles. The losing side may say otherwise and scream about it. The winners can vote, get a majority, and change the rules however they want.

[RipSawyer]

Better convert it to precious metals like brass and lead and put it in the Dirt Bank and Trust.

[Delhi Rebels]

The Senate Standing Rules apply until repealed, regardless of change of Senate. Or even change of senate leadership.

[Defiant]

That does not bind new members unless they choose to be bound because the wapo and ninnies like you tell them to. We have this discussion every two years. The bottom line is, the organizing resolution can be passed by majority vote, and no court can review the rules.

[Delhi Rebels]

That does not bind new members unless they choose to be bound because the wapo and ninnies like you tell them to.

I'm amazed that the U.S. Senate hasn't contacted you by now to come help them get their house in order. Obviously you have been hiding your genius too long and too well.

And here's the </sarcasm> tag. I can't imagine you recognizing it otherwise.