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Compromised - Rumors fly that President Bush may be willing to raise taxes
The Wall Street Journal ^ | November 26, 2006 | Lawrence B. Lindsey

Posted on 11/25/2006 11:04:56 PM PST by Zakeet

During the recent off-year elections, the president repeatedly pointed to the booming economy and noted that his tax cuts were responsible. With growth strong and unemployment low despite the ending of the stock-market bubble, terrorist attacks and the war in Iraq, he had every reason to be proud. Moreover, both economic theory and the actual timing of the economic revival support his claims regarding the tax cuts.

That is why it is so odd that rumors swarm around Washington that the president may be willing to raise taxes as part of a "deal" on entitlement reform. In particular, the rumors suggest the president might be willing to get rid of the provision that caps the income level used to compute Social Security taxes and benefits. These rumors aren't without substance; last year the president would not rule out raising the cap when asked.

Doing so would raise the marginal tax rate on the entrepreneurs that Mr. Bush credits for having led the economic recovery by more than 10 percentage points. The new effective rate would be five percentage points above the level when he took office. Moreover, in 2011, the rate would go up a further 4.3 percentage points to an effective 53% marginal rate on entrepreneurial income. The president would thus be not just raising taxes on entrepreneurs to well above the levels that prevailed in the Clinton administration, but to a rate higher than that which prevailed in the Carter administration. Most of the improved incentives for entrepreneurship and work brought about under Reagan would be repealed.

Should the president do this, he doubtless would be thinking that saving Social Security would be worth the price. He would be wrong.

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


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: chickenlittles; economy; firedbushadvisor; increase; socialsecurity; tax
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To: alopurynol

McQueeg will NOT win the primary, n00b.


61 posted on 11/26/2006 1:01:18 AM PST by nopardons
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To: OldFriend
Ok, you consider me a traitor because I don't want Bush ( a republican) to cave to what the democrats want? I guess you are a traitor too, if you can support democratic agendas!

In case you haven't noticed, we are discussing the "WHAT IF" of this article! I guess no rumors should be posted here anymore, as we are not to discuss them!

62 posted on 11/26/2006 1:02:02 AM PST by blondee123
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To: nopardons
Well, that's what I keep seeing here on FR, of all places.

It is enough at times to make you wonder if we have been infiltrated by a unique and elite cadre of moonbats who can recognize cusswords and are 99% successful at editing them out of their posts...

63 posted on 11/26/2006 1:02:29 AM PST by Smokin' Joe (How often God must weep at humans' folly.)
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To: blondee123
Not from your and their replies!

And it would REALLY help all of you, to realize just who wrote this absurd drivel.

64 posted on 11/26/2006 1:03:38 AM PST by nopardons
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To: Repub4bush
In case you didn't notice......our own right wing talk show hosts did most of the heavy lifting for the demonrats for the past several years.

Bashed and slashed the President while their good friends, those great Americans, were treated to hugs and kisses.

Is it any wonder we are now faced with the unthinkable?

Betrayed our military, lost Rumsfeld, tax cuts in jeopardy, not a chance in hell of getting another conservative judge confirmed, any hope of a border fence GONE GONE GONE.

65 posted on 11/26/2006 1:06:41 AM PST by OldFriend (FALLEN HERO JEFFREY TOCZYLOWSKI, REST IN PEACE)
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To: Smokin' Joe
Ahhhhhhhhhhhhhh....but these moonbats are NOT editing them out of their post. Some leave a letter or two out of the word, some actually now post replies with cuss words and profanity in them...ALL SPELLED OUT! Which means that there are now a whole LOT of deleted posts, due to that reason alone.

We have been infiltrated by people who do not belong here at all!

66 posted on 11/26/2006 1:07:27 AM PST by nopardons
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To: FreeReign
Maybe "unacceptable" means something different to you, but to me, especially in diplo-speak, it means will not be allowed.

Well that's past tense now. It has happened and therefore allowed.

The solution to the impasse was move the goal posts.
67 posted on 11/26/2006 1:07:36 AM PST by DB
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To: nopardons
You are absolutely right

Did you see the thread last night that Kristinn put up?

It was pretty much on point. IMO

68 posted on 11/26/2006 1:08:05 AM PST by Repub4bush (FWF.....Speechless!)
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To: Stallone
Bush had the chance to change the world by confronting the enemies of freedom both foreign and domestic with skill and aplomb, and to earn the hearts and minds of his supporters.



And just exactly how was he expected to do that without any support from the right-wing pretenders he has to work with in DC? He's not Superman, he doesn't have a big "S" on his t-shirt.

While I'm at it, his name is GEORGE not Jorge and his title is PRESIDENT BUSH. Show some respect to his position, that is if you know what 'respect' is.

Perhaps you could look the meaning of 'respect' up and at the same time look up the meaning to the word 'Rumor'.
69 posted on 11/26/2006 1:10:15 AM PST by AmeriBrit (Soros and Clinton's for Responsibility and Ethics in Washington = SCREW.)
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To: Repub4bush
Saw it? I was on it!

And let me tell you, there are more damned trolls on that thread, who should all be banned, than I can remember seeing in a VERY long time! The guy I was fighting with was banned and perhaps one other, but that still left many, who were posting as though that thread was on DU.

70 posted on 11/26/2006 1:12:21 AM PST by nopardons
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To: AmeriBrit

BRAVA!


71 posted on 11/26/2006 1:13:46 AM PST by nopardons
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To: nopardons
I read through part of it. Txsleuth pinged it for me on another thread.

I was tired last night and after reading about 2 pages, I was done with it!

I was shaking my head the whole time, and my blood was boiling so I just left without posting!!

Glad you were over there!

72 posted on 11/26/2006 1:14:49 AM PST by Repub4bush (FWF.....Speechless!)
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To: Repub4bush
It was SO bad, no, wait a minute.....it was so HORRID, that I was there for hours, fight with the morons.

I bet you missed the posts that called for America to be NUKED, so that we would then "turn Mecca into glass", etc. These cretins want millions of their fellow Americans nuked ( of course, they NEVER think that perhaps they and/or their friends and relatives just might be amongst those murdered or maimed ), so that finally, FINALLY the president will kill off every single Muslim in the entire world.

It makes you wonder why parents are letting their 12 year olds post to FR at 2 in the morning.

73 posted on 11/26/2006 1:21:52 AM PST by nopardons
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To: nopardons
I think they missed this part on the Home page:

Welcome to Free Republic!

Free Republic is the premier online gathering place for independent, grass-roots conservatism on the web. We're working to roll back decades of governmental largesse, to root out political fraud and corruption, and to champion causes which further conservatism in America. And we always have fun doing it. Hoo-yah!

I'd add bold emphasis, but then, I'd end up putting darned near the whole quote in boldface...

74 posted on 11/26/2006 1:22:29 AM PST by Smokin' Joe (How often God must weep at humans' folly.)
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To: jveritas
IMO, it's a typical dirty trick the RATS play every chance they get. President Bush has been out of the country for about 2 weeks now so what better time for them to act as the sleaze balls they all are and float as many false rumours as they can cram in. They know the right wing pretenders in DC are not going to show any backbone and stand up to them and call them the liars we all know they are.
75 posted on 11/26/2006 1:23:26 AM PST by AmeriBrit (Soros and Clinton's for Responsibility and Ethics in Washington = SCREW.)
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To: Smokin' Joe
Sadly, I think that a whole LOT of people haven't ever read FR's Home Page and IF they ever did, never took it to mean what it says. :-(
76 posted on 11/26/2006 1:25:12 AM PST by nopardons
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To: jveritas
This is an impossibility.

I agree. This is not even a "trial balloon" - - it is utter horse manure, likely planted by a rat operative. No matter what anybody thinks about George W. Bush, to believe for a second that he would suddenly attempt to eradicate the Republican party with a "compromise" like this is playing with himself.

It is extremely disappointing to see a normally reputable paper like the Wall Street Journal let a writer run hog wild with an obviously bogus rumor like this, even though the writer, ignoring political reality and writing as if the rumor might be true, wastes his time discussing why such a "compromise" would harm the economy.

Regards,
LH

77 posted on 11/26/2006 1:26:16 AM PST by Lancey Howard
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To: nopardons
I am glad I missed that!

I don't think I could stomach reading such apparent ignorance and stupidity, not to mention it's down right scary!

Going to bed now, so I can get up and read more gloom and doom from the FWF (Fair Weather Freepers)and trolls in the morning!!!!

Nighty night, or um Good morning...LOL

78 posted on 11/26/2006 1:27:29 AM PST by Repub4bush (FWF.....Speechless!)
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To: nopardons

I read it back in '99 and that was like a breath of fresh air. I was so sick of the MSM cable news spin then...at least I get to take the 'edge' off that here.


79 posted on 11/26/2006 1:28:00 AM PST by Smokin' Joe (How often God must weep at humans' folly.)
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To: nopardons
"hilst giving a foreign nation the SOLE ability top sell a commodity we have in abundance,"

I thought I knew almost every reason I hated Clinton but don't know what that one is. Can you fill me in on the commodity you mention?
80 posted on 11/26/2006 1:29:10 AM PST by JSteff
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