Tax Hikes 'Impossible' Under Debt Deal? Think Again ...

Fox News ^ | August 01, 2011

[Sopater]

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...

[Sopater]

Who'da thunk it?

[ken21]

gosh,

not me.

/s

[newzjunkey]

We'll see.

Rep. Louis Gohmert (R-TX) speaking on Hannity's radio show (Aug 1, hour 2, 2nd quarter hour) says he got a private commitment from Boehner (and Paul Ryan who Gohmert expects to be on the Select Committee) to bring a *critical* change to a vote.

That change will do away with baseline budgeting (with its 7.5% automatic increases) and move to zero-base budgeting.

With zero-base budgeting all departments start at $0 each budget year and must justify the full budget request.

If passed it would be GAME-CHANGING. That's a bill to look out for this year.

The vote will put Dems & RINOs on record for wanting the status quo of automatic increases.

Gohmert says Ryan supports the change and Boehner said several times publicly last week it's a budgeting change he'd like to see happen.

[org.whodat]

Cry baby and his band of merry men seemed to have been willingly rolled on this one.

[org.whodat]

ROFLOL, BS, boob bait, there is no must pass legislation to attach it to and if there was a real chance of passage the rinos would vote against it. This congress is dead, it needs to fold up its tent and go home.

[New Jersey Realist]

I pray that this $2*h% bill gets voted down. Bring it on!

[GailA]

What a crock of BS, yes it is FR posted

http://www.dailymail.co.uk/news/article-2020959/US-debt-ceiling-crisis-Obama-Boehner-face-backlash-fudged-minute-deal.html

“GOP lawmakers said the super committee could well recommend a rise in taxes, which would be passed by the House.”

*In addition, financial experts warned the U.S. credit rating was still likely to be downgraded, as figures revealed the U.S. has entered a double-dip recession and the Dow Jones average today fell to a level barely above the point indicating growth. *

“would be the largest increase in the debt limit in U.S. history by a margin of half a trillion dollars”

[Chode]

they already have... wait till you see your W2 for 2012 with your company insurance listed as income

[CodeToad]

There must be tax hikes to support this massive spending increase. I was looking at the actual bill and found the following increases enumerated in it. I also found the debt increase for this year, alone, can be $1.8 trillion. The following table shows the ADDITIONAL spending authorized in the bill for each year. It adds 5% more every year.

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