Posted on 11/14/2011 5:17:52 AM PST by upchuck
With a little over a week left to reach a deal, members of the congressional deficit reduction panel are looking for an escape hatch that would let them strike an accord on revenue levels but delay until next year tough decisions about exactly how to raise taxes.
Under this approach, the panel would decide on the amount of new revenue to be raised but would leave it to the tax-writing committees of Congress to fill in details next year, well beyond the Nov. 23 deadline for the panel itself to reach an agreement. That would put off painful political decisions but ensure that the debate over deficit reduction stretched into the election year.
If the panel falls short, a series of automatic cuts, split evenly between military and civilian programs, would take effect, starting in 2013.
A recent proposal by Republicans on the panel, to raise $300 billion in tax revenue over 10 years, led to some optimism that the committee might at least come up with a partial deal that could reduce the amount of Advertisement automatic cuts.
Sen. Richard J. Durbin of Illinois, the No. 2 Senate Democrat, said the Republicans' willingness to discuss higher tax revenue was "a breakthrough." But as Democrats studied the offer, they found much to criticize.
Until now, the main obstacle to a deal had been Republicans' unwillingness to raise taxes and Democrats' unwillingness to make significant cuts in the growth of Medicare, Medicaid and Social Security without tax increases. To shave deficits by $1.2 trillion without raising revenue or touching entitlement programs could require deep cuts in domestic spending, the military or both.
(Excerpt) Read more at mercurynews.com ...
This whole process, as we figured all along, is a gigantic frigging joke. Think of all the money wasted on this garbage.
Taxed Enough Already.They're not listening.
The government can cut spending a heck of a lot easier than we can.
(The only way to kill the beast is to starve it to death. Instead of allowing them to control us through our wallets, how about WE control THEM through our wallets ??)
...Looking for John Semmons again...
The problem with this government and this country hasn’t a thing to do with insufficient taxation or regulation.
Unfortunately, its looking like We the People in Flyover Country may need to do some schooling.
They claim that corporate profits are up and they just have to tax more.
Republicans and Conservatives usually sit there with their thumbs up their ***** and say nothing other than "small businesses make jobs." It doesn't fly. Democrats keep it up with their "increase revenue" BS again and again.
So I had this idea and I want to share it with FReepers.
I suggest that Republicans say "OK, we favor increasing revenues to reduce the debt. We propose targeted revenue enhancements. We will draft our "Fair Revenue Enhancement for Employed People Act" which taxes at a modest 45% (forty five percent) of the assets of such businesses and groups as:
Like Bruce Springsteen who claims his estate as a farm in order to take a big tax cut,
Talk about the rich. Who is richer than these creeps?
Who can deny that members of the above are:
Rush? Hannity? Quinn? Sarah? can we hear this from you?
I'll say it myself -
targeted revenue enhancements
targeted revenue enhancements
targeted revenue enhancements
Anybody agree? Disagree?
Remember a few months ago when the GOP was not going to agree to any raising of the debt ceiling without dollar for dollar matching cuts in spending? I do.
Remember when Boehner was saying new taxes were off the table and not up for negotiation? I do.
Remember when the GOP was not going to back off the balanced budge ammendment? I do.
Revenues = taxes.
The GOP is going to agree to raise our taxes in exchange for minimal spending cuts that will in effect be meaningless. Meanwhile the Federal debt is already about to reach its ceiling again so they will have to raise the debt ceiling again. And so on and so on.
Anybody who still thinks our financial system is not going to collapse raise your hand.
the panel would decide on the amount of new revenue to be raised but would leave it to the tax-writing committees of Congress to fill in details next year, well beyond the Nov. 23 deadline for the panel itself to reach an agreement. That would put off painful political decisions but ensure that the debate over deficit reduction stretched into the election year.
Abso-stinkin-lutely NOT. Decide on the cuts then MAYBE decide on the revenue “increases”. Don’t play this stupid game, pubbies...you will LOSE...unless you really want to raise taxes....
I think he wants to have his imprimatur on tax raises as part of his campaign's platform plank.
I predict this joke of a process is going to re-energize the Tea Party in a massive way.
Letting us peek under the covers at the process which gave us Obamacare was a major energizing factor. When people get a good look at this it won’t be any different.
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