Posted on 08/07/2011 11:02:33 AM PDT by SeekAndFind
A week later and we are still amazed at how the Republicans in Congress pulled it off. They held the economy hostage, won some cheap political points, and all of us will spend the next decade paying the ransom as government programs — $900 billion over 10 years in the first round — are slashed and the recovery is put at risk.
The only glimmer of hope is that the battle is not completely over — if President Obama is finally willing to fight.
Under the terms of the ill-conceived debt agreement, Congress has to propose another $1.5 trillion in deficit reduction measures by December. Just to ensure that rationality does not have a chance, Republican leaders said they would not put anyone on the deficit-cutting “super-committee” who might entertain the idea of raising taxes.
A week later and we are even more amazed by the failure of Mr. Obama and the Democratic leadership to stand up to this intransigence. If they do not start pushing back, with the same ferocity, the results will be disastrous.
Standard & Poor’s made its judgment about both the political standoff and the all-cuts, no-new-revenues deal on Friday when it lowered the country’s long-term debt rating one notch, down from AAA. And while “no new taxes” pledges are almost always big political winners, Americans are also figuring out that the country cannot keep on this way. According to the latest New York Times/CBS News Poll, 63 percent support raising taxes on households that earn more than $250,000 a year to help address the deficit.
If that is not enough to energize the White House, here are a few more facts. To avoid across-the-board cuts, Congress must enact at least another $1.2 trillion in deficit reduction measures over the 10 years.
(Excerpt) Read more at nytimes.com ...
The Time’s Advise to Obama:
* LET THE BUSH CUTS EXPIRE.
Letting all of the cuts expire at the end of 2012 would save $3.8 trillion over the next decade. Letting the tax cuts expire for those making more than $250,000 would save $700 billion.
* MAKE REAL REFORMS
Streamline the code, make it fairer and — most important — raise more revenue.
* TARGET TAX BREAKS AND LOWER RATES
Wealthier taxpayers get the greatest benefit. The process needs to be reformed so that most of the help flows to those who most need it: low- and middle-income taxpayers.
Tax breaks that have outlived their purpose must be ended, starting with subsidies for the oil industry, which is making billions in profits.
* VAT AND CARBON TAXES
A value-added tax is conducive to saving, and a carbon tax helps protect the environment.
I thought the Times told us that “the rich” WANT to pay more taxes. What’s this “fight” crap all about? You shouldn’t have to “fight” for something if the idiots WANT to give it to you. Just make taxes VOLUNTARY. After all, isn’t paying taxes “patriotic”? LOL! The “media” types are a bunch of fools.
The notion of spending cuts has the left squealing like PIIGS.
I always have to laugh when I see the same Left wing political class that claims they can reduce smoking by raising taxes on tobacco products turns around and argues that raising taxes on income will have no impact on economic growth.
Go directly to Hell, Old Grey Whore.
THERE ARE NO SPENDING CUTS! Just more spending from here to eternity.
The most frightening thing about this article is the comments, which are 95% in favor of Democrat policies.
No one seems to wonder whether the increase in federal government expenditures from 18% to 25% over the past several years is to blame. Almost everyone takes that increased level for granted and lobbies for increased taxes. Some visionaries even ask for direct taxes on accumulated wealth.
It’s going to be a tough slog to get rid of Obama and clean up this mess if this is representative of the American public. On the bright side... you’ve got to be a committed idiot to comment, because you have to be registered for the site. Who but a committed liberal would register for the NYT website?
Obammy can propose all he wants.
Congress has the power of the purse and me thinks the congress is about done giving obammy money to give to his union budds.
Only The Slimes could turn *not raising taxes* into *costing us*!
Obammy can propose all he wants.
Congress has the power of the purse and me thinks the congress is about done giving obammy money to give to his union budds.
Trying to balance the budget by means of raising taxes is destructive of saving and capital formation to the degree that the additional taxes fall on saving and productive expenditure. Ironically, it is precisely taxes that fall heavily on saving and productive expenditure that today;s advocates of balancing the budget through tax increases favor. The taxes they wish to increase are precisely those which land on corporations and the so-called rich,.
Can we get a law passed that states “If you don’t pay income taxes personally you cannot be asked your opinion on the level of taxation for other tax paying citizens.”
When four non-tax paying persons vote to take the wealth of the fifth - we have fallen under the rule of the mob. We are no longer a legitimate democracy, we are a kleptocracy. America will fail, the socialists will run out of other peoples’ money and they will do what they did through out history and that is confiscate other people’s property. Once that happens the productive class will be arrested or shot and their nations will become useless hell holes - Soviet Union, Cuba, North Korea, Eastern Europe - all take a bow..
Can we get a law passed that states “If you don’t pay income taxes personally you cannot be asked your opinion on the level of taxation for other tax paying citizens.”
When four non-tax paying persons vote to take the wealth of the fifth - we have fallen under the rule of the mob. We are no longer a legitimate democracy, we are a kleptocracy. America will fail, the socialists will run out of other peoples’ money and they will do what they did through out history and that is confiscate other people’s property. Once that happens the productive class will be arrested or shot and their nations will become useless hell holes - Soviet Union, Cuba, North Korea, Eastern Europe - all take a bow..
Pull the triggers...
I want to see the Kenyan lizard cut entitlements and defense just to watch him die. (apologies to Johnny Cash)
Pull the triggers...
I want to see the Kenyan lizard cut entitlements and defense just to watch him die. (apologies to Johnny Cash)
What bilge. I suppose this a sample of the full-tilt marxist propaganda we can expect between now and Nov. 2012. I can’t wait to see what the times editors write after the stock market continues to collapse this week.
The NYT is the equivalent of the Communist Manifesto, only Dems hang out on that website, hence I'm surprised anyone was against what the Times says.
I wish I had the YouTube of Obama in 2007. Some courageous interviewer pressed Obama hard on the progressive tax structure and how come Reagan got more revenues out of lower tax rates. Obama thrown off his talking points and has a “Spread the wealth” moment, he in his pissy tone fired back, veins popping..”Well it’s not about revenues it’s about fundamental fairness.”. See there you have it, Liberals want and do use the tax code to punish and instigate social unrest. If the Old Grey Lady was interested in “Fairness” they would advocate a flat tax. But see they will never do that, they use language deviously. If you couched their philosophy as “Well we think the rich should carry the poor in perpetuity, that theft if it done by the state is moral…” they would be out of business tomorrow. But the way liberals word things the average union blue collar slob or black urban vampire just laps it up. Next to sex, the urge to steal from ones neighbor for your own enrichment is a tough sin to intellectualize out of people.
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