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
This is the umteenth time you have posted something that was only a complaint that someone else posted something, well within the guidelines, that you didn’t like.
Annoying!
LOL
So it explicitly states they make these recommendations and disband permanently? If so, that’s good.
Quelle surprise!
Obamacare coming up and expiration of Bush tax cuts. This deal does nothing about them.
But we get spending cuts that are actually spending increases! Yay!
Where does the bill repeal Obamacare? I must’ve missed that part.
Did we expect anything else?
“Guess ya gotta pass it before you can see what’s in it.
Not this sh!t again! “
Exactly like a stool sample!
That may be true, but this headline is a lie.
That tells me a lot about your judgment.
Can’t listen to it, heart broken betrayal.
Lara Ingram and all the other sell-outs, ug.
No it would be part of any appropiations package.
ALL:
RUSH IS DISCUSSING THIS NOW!
Apparently, the expiration of the Bush tax cuts is apparently considered as a loss to the govt .. thus ....
http://v4.player.abacast.com/player/player.php?pid=1187
zerohedge zerohedge
BOEHNER NEWS CONFERENCE POSTPONED UNTIL 3:30 P.M. Not enough votes again
2 minutes ago
Looks like it relies on the Congress to choose spending cuts or it forces this...
Not repealing it is far from “locking it in” as you put it.
Thanks
Of course it doesn’t:
Bush tax cuts are scheduled by law to expire. Irrespective of a deal.
Obamacare taxes are scheduled in law. Irrespective of a deal.
Super Committee of Congress can propose something, but unless it passes House and Senate and is signed into law, it doesn’t happen.
“Big tax hikes” are not “part of the deal”.
I proved it.
Dems NEVER cut government agencies like the EPA etc. They cut where it will hurt the people directly so they’ll quit yelling about taxes. Then they expand government, like the EPA.
Sorry MindBender but Shannon Bream did indeed say such.
When she broke the news that there was some kind of tax hike that was discovered in the bill, she said something in the context of;
“This may explain the reason the speaker is :20 late to the podium!”
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