Posted on 08/01/2011 11:06:13 AM PDT by Kevin in California
Edited on 08/01/2011 12:52:01 PM PDT by Admin Moderator. [history]
Just reported that in this debt deal is indeed a BIG TAX HIKE!
This is breaking....:
Tax Hikes 'Impossible' Under Debt Deal? Think Again ...
Published August 01, 2011
| FoxNews.com
The debt-ceiling deal moving toward a vote in Congress could easily pave the way for tax increases despite Republican claims that tax hikes are "impossible" under a deal struck with the White House to reduce spending in exchange for a debt-limit increase.
But as everyone knows, "impossible" isn't really in Washington's vocabulary.
Here's how it could happen:
After Congress enacts more than $900 billion in spending cuts to give President Obama a $900 billion lift in the nation's $14.3 trillion debt ceiling, a bipartisan committee will be formed to find roughly $1.5 trillion in additional deficit savings over the next decade.
To get there, the committee is free to look at virtually anything -- including "revenue" -- even though House Speaker John Boehner said Sunday night that current budgeting guidelines make it "impossible" for the 12-member group to approve tax hikes.
Other officials and analysts beg to differ.
"The suggestion that it is impossible for the joint committee to raise tax revenue simply is not accurate, it's false," White House Press Secretary Jay Carney said Monday.
Tea Party-aligned Sen. Mike Lee, R-Utah, said that's one of the concerns stopping him from supporting the deal.
"Certainly, tax increases could be something that we could face," Lee told Fox News.
Boehner is able to claim no tax hikes are possible because the committee would work off the assumption that the Bush tax cuts -- all of them -- will expire in 2013. Combined with other expiring provisions, that adds up to $3.5 trillion in tax hikes over the next decade, without the committee taking any action
Excerpt, read more: here
FOX is reporting that this is the reason Boehner is :20 minutes late to the podium.
Guess ya gotta pass it before you can see what’s in it.
This is the second thread today you have posted about something you’ve seen on TV.
Without a link.
As News.
I’m just saying...
ooops
When is the vote? Will the house vote and approve a tax hike?
please let this get out to the public before the Vote.
It may be time to turn off the TV and find something to do.
“Guess ya gotta pass it before you can see what’s in it.”
Sure, that’s the Pelosi way. Well, it worked for them on Obamacare.
Or does this just lock in the end of the Bush tax cuts unless "paid for" by other tax increases/spending cuts?
Therein lies Sarah Palin's beauty. She is feared -- actually hated -- for having torn into, and jailing, corrupt politicians in Alaska
Paging Rep. Tom Reed, R-NY....
Not this sh!t again!
>> Rush Limbaugh has been savaging him all afternoon.
With Mark Levin to follow in a few hours.
Did they pass it already
????
Any real details or just another “someone said XXXXX on TV” thread?
outrage.
There better not be - else all hell is going to break loose.
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