Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

FOX NEWS: Tax Hikes 'Impossible' Under Debt Deal? Think Again ( Debt deal is indeed a BIG TAX HIKE!)
FoxNews ^ | August 01, 2011 3:20PM Eastern | Staff

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



TOPICS: Breaking News; News/Current Events; Politics/Elections
KEYWORDS: deception; democrats; liberalfascism; lies; morevanities; notaxes; notbreaking; notbreakingnews; notsourced; ohthehugevanity; taxcheatparty; taxes; troll; vanity
Navigation: use the links below to view more comments.
first previous 1-20 ... 141-160161-180181-200 ... 261-265 next last
To: what's up

“The free birth control has nothing whatsoever to do with this bill.”

You will be hard pressed to convince many here that this is true. For a lot of people here anything bad that happens from here to eternity will be because it was hidden deep inside this deal and Republicans were to stupid to spot it.


161 posted on 08/01/2011 12:04:21 PM PDT by WatchOutForSnakes
[ Post Reply | Private Reply | To 131 | View Replies]

To: txrangerette

The only way they are scoring a $2 Trillion decrease in the $8 Trillion increase in spending is by also accepting $3.6 Trillion tax increase by letting the Bush cuts expire.

This is a total catastrophe. More taxes to pay for some of the increase in spending.

Republicans are signing up for higher taxing and spending.

If they vote for this, they are finished as a party.


162 posted on 08/01/2011 12:04:21 PM PDT by LowTaxesEqualsProsperity
[ Post Reply | Private Reply | To 157 | View Replies]

To: GeronL
Interesting that you believe yourself to have perfect foresight.

I wonder how you became so convinced you were an oracle of the future.

163 posted on 08/01/2011 12:04:52 PM PDT by what's up
[ Post Reply | Private Reply | To 160 | View Replies]

To: what's up

Give it a rest .. I was looking for any hints, WH
or not, which stated there were ANY tax hikes,
especially since we’re being told repeatedly by
Boehner and Reid there are NONE.

Did you happen to glance at this piece before you
decided to launch on me?

~~~~~~~~~~~

Not Playing the Fool
Posted by Erick Erickson
Monday, August 1st at 4:46AM EDT

There are a lot of Republicans tonight willing to play the fool for the GOP in this debt ceiling plan. They say, for example, that there will be no tax increases from this super committee. Never mind that the Democrats are saying otherwise.

I can prove to you right now that there will be tax increases.

The Congressional Budget Office (CBO) expects the Bush tax cuts to expire. So all the commission has to do is two things: extend middle class Bush tax cuts and enact a permanent alternative minimum tax (AMT) patch.

Those two together would look like an increase to the deficit in CBO scoring. So then the commission can start out of the gate with the ability to create several trillion dollars in new tax hikes to equal out to the cuts — cuts that will happen even without the commission most likely.

And where will those cuts come from? Those making $250,000.00 or more, of course.

And probably the Gang of 6s ideas to eliminate most deductions to income taxes without revenue neutral rate reductions and the Gang of 6’s pièce de résistance — raising capital gains taxes from 15% to 28%.

Have people not been paying attention? In every single address the President has given on the debt ceiling, he has insisted on new tax revenue. John Boehner even put $800 billion on the table, so it is already there.

Rest:
http://www.redstate.com/erick/2011/08/01/not-playing-the-fool/

~~~~~~~~~~

Please be sure to omit me next time the foul mood overcomes.


164 posted on 08/01/2011 12:05:16 PM PDT by STARWISE (The overlords are in place .. we are a nation under siege .. pray, go Galt & hunker down)
[ Post Reply | Private Reply | To 135 | View Replies]

To: Kevin in California

I emailed Speaker Beohner this morning and asked him how he thought he would feel, knowing he was the Speaker who killed the Republican party?....


165 posted on 08/01/2011 12:05:35 PM PDT by Freddd (NoPA ngineers.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: jennings2004

166 posted on 08/01/2011 12:05:55 PM PDT by Lucky9teen (Peace is that brief glorious moment in history when everybody stands around reloading.~Thomas Jeffer)
[ Post Reply | Private Reply | To 52 | View Replies]

To: WatchOutForSnakes
For a lot of people here anything bad that happens from here to eternity will be because it was hidden deep inside this deal

We're moving from "Bush's fault!" to "Debt-bill's fault!"

167 posted on 08/01/2011 12:06:47 PM PDT by what's up
[ Post Reply | Private Reply | To 161 | View Replies]

To: novemberslady; Kevin in California

LOL!! Dittos. I saw this reported as well, but this thread had me convinced I was hallucinating! Glad someone confirmed I hadn’t lost my marbles.


168 posted on 08/01/2011 12:07:15 PM PDT by LaybackLenny (Palin-________ Overdrive 2012 - Holy Flippin' Crap!!)
[ Post Reply | Private Reply | To 149 | View Replies]

To: EternalHope
The option is for the Repubs to set off the international markets by not passing this "blackmail" plan.

The reality is....the Dems went spend crazy with things like GM, Union support etc ...and we're left with the bill..and need that cap to be raised.

169 posted on 08/01/2011 12:08:22 PM PDT by Sacajaweau
[ Post Reply | Private Reply | To 143 | View Replies]

To: LaybackLenny

Rush just said “The Hill’s” whip count has the vote currently FAILING 212 to 219.


170 posted on 08/01/2011 12:09:17 PM PDT by truthkeeper (Vote Against Barack Obama in 2012!)
[ Post Reply | Private Reply | To 168 | View Replies]

To: what's up; STARWISE
Plouffe is quoted as a source. You really believe Obama's campaign guy?

By way of explanation.....Star wasn't giving an opinion on the posted. Star was just posting to give others info on what's being said out there. Sheesh!

171 posted on 08/01/2011 12:09:26 PM PDT by CAluvdubya
[ Post Reply | Private Reply | To 135 | View Replies]

To: LaybackLenny

Nate Silver: 87 GOP against. 112 Dems Against. They are short right now.


172 posted on 08/01/2011 12:09:30 PM PDT by rjeffries
[ Post Reply | Private Reply | To 168 | View Replies]

To: LaybackLenny

You aren’t losing your mind layback.

I just posted what I heard and Baeir on FOX reported on it as well.


173 posted on 08/01/2011 12:09:49 PM PDT by Kevin in California
[ Post Reply | Private Reply | To 168 | View Replies]

To: truthkeeper

Doesn’t seem terribly difficult to overcome for Boehner/Pelosi to flip 5 votes


174 posted on 08/01/2011 12:10:38 PM PDT by rjeffries
[ Post Reply | Private Reply | To 170 | View Replies]

To: Kevin in California

There is no budget for 2012

Therefore, there is no realistic baseline. The change will occur within 60 days when the government really runs out of money for real

The House passed a budget. The Senate let it lay. No budget, no money


175 posted on 08/01/2011 12:10:57 PM PDT by bert (K.E. N.P. +12 ....Flash mobs are trickle down leftwing REDISTRIBUTION))
[ Post Reply | Private Reply | To 1 | View Replies]

To: STARWISE
Give it a rest .. I was looking for any hints, WH or not,

And there's your first mistake.

I've got a clue for you:

The WH will take every opportunity to frame everything in "tax hike" rhetoric to try to win back a base which is furious at their weakness.

Another clue:

ALWAYS ALWAYS believe the opposite of what Plouffe says...yes even when he appears on FOX!

176 posted on 08/01/2011 12:11:28 PM PDT by what's up
[ Post Reply | Private Reply | To 164 | View Replies]

To: STARWISE

Your fox news link is no good.


177 posted on 08/01/2011 12:11:53 PM PDT by TheBattman (They exchanged the truth about God for a lie and worshiped and served the creature...)
[ Post Reply | Private Reply | To 75 | View Replies]

To: rjeffries

If there is one thing the dems are really good at it’s getting their people to vote the way they want them to. They will get the votes.


178 posted on 08/01/2011 12:12:10 PM PDT by WatchOutForSnakes
[ Post Reply | Private Reply | To 172 | View Replies]

To: ilgipper

They couldn’t just cut spending without creating a Rube Goldberg machine, like the way they did with Health Care Deform.


179 posted on 08/01/2011 12:13:25 PM PDT by Tolerance Sucks Rocks (It's the Tea Party's fault!)
[ Post Reply | Private Reply | To 43 | View Replies]

To: WatchOutForSnakes

Rush reports Boehner is short votes, needs 4-6 more.


180 posted on 08/01/2011 12:13:54 PM PDT by RitaOK (We hang together or will hang separately. 2012, or bust)
[ Post Reply | Private Reply | To 178 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-20 ... 141-160161-180181-200 ... 261-265 next last

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.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson