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

[Kevin in California]

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

[CodeToad]

The following table shows massive spending increases in the bill and this is not all of them.

In $ Trillions	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021
Total	$1,936	$2,107	$2,319	$2,570	$2,668	$2,854	$2,899	$2,945	$2,992	$3,039
Social Security	$623	$751	$924	$1,123	$1,166	$1,309	$1,309	$1,309	$1,309	$1,309
Health and Human Services	$270	$299	$329	$361	$395	$414	$434	$454	$475	$496
Discretionary Spending	$1,043	$1,057	$1,066	$1,086	$1,107	$1,131	$1,156	$1,182	$1,208	$1,234

[Syncro]

So you haven't read the bill?

And your comment "you claimed their(sic) were tax hikes in the bill" is a lie. Sorry, but you are so snarky with your comments that I had to be blunt.

My comment was "He (mike lee) found the tax hikes."

So if you wish to talk to someone who actually said they found the tax hikes, check with Sen Mike Lee

His name is a hotlink to his website.

Excuse me, you claimed their(sic) were tax hikes in the bill and I simply asked you for the proof of this.

So find it and direct me to the location so I can read it also. [Wow you sure are pushy!]If you cannot then simply admit you have no evidence of tax hikes being in the bill.

Let's see, I addressed the first sentence, a false statement.

You should do your own research, I have given you one link to start with.

I never said I had evidence that there (their?) are tax hikes in the bill.

But just to help you our, there are.

The Bush Tax Cuts weren't addressed in the bill by adding text that said "this bill also extends the Bush Tax Cuts,: therefore they will expire. That will be a tax hike. 13,000 or so for someone making 250,000/yr.

Plus the stupid committee that was agreed to can propose more tax hikes.

You can find evidence for that too If you don't get the truth of that. Oh you will find pols that say that is not true, but they are playing you.

Stay tuned to what happens next, taxes will go up.

[Lucky9teen]

No....you can’t stun someone when they knew it all along. It’s about time though, that other ding bats and sheeple started realizing it....on HIS side too.

[101voodoo]

The Bush Tax Cuts weren't addressed in the bill by adding text that said "this bill also extends the Bush Tax Cuts,: therefore they will expire. That will be a tax hike. 13,000 or so for someone making 250,000/yr.

Sure they will, unless they are extended. Besides that, since when can a current congress impose it's will on a future Congress in the form of passing legislation which the yet to be convened Congress MUST abide by?

Plus the stupid committee that was agreed to can propose more tax hikes.

Which have to be approved by the House (no chance)

You can find evidence for that too If you don't get the truth of that. Oh you will find pols that say that is not true, but they are playing you.

Proof please or is it your OPINION?

Stay tuned to what happens next, taxes will go up.

Or not. Bottom line is you are guessing and have not one shred of evidence to support your position nor does your source. You have posted opinion as fact, a no no.

[Syncro]

Voodoo economics