Posted on 12/06/2012 8:54:15 PM PST by Red Steel
RICHMOND, Va. -- Democratic Sen.-elect Tim Kaine on Thursday implored President Obama and Democrats to compromise with congressional Republicans to avoid taking the country over the "fiscal cliff" in January.
"Neither side is going to walk over to the other and say, 'You know what, you're right. We're going to do it exactly the way you said,' " Kaine told reporters at a daylong gathering hosted by the Associated Press. "So you have to find that middle ground."
Kaine sounded an alarm over the Obama administration's claim that it was willing to go over the fiscal cliff -- allowing massive tax increases and spending cuts to take effect in January -- if congressional Republicans refuse to meet the president's demands, chief among them a tax increase for those earning more than $250,000 a year.
Kaine, who led the Democratic Party under Obama, said even a temporary deal that only delays the threat of the fiscal cliff is preferable to no deal.
Obama could move closer to a compromise by agreeing to raise taxes only on those earning at least $500,000 a year, said Kaine. He offered a nod of approval to a Republican proposal that would raise new revenues by capping income tax deductions rather than raising tax rates.
"As part of a larger discussion about the longer-term deal, I think that's a good thing to do," Kaine said.
Gov. Bob McDonnell, a Republican, cautioned that the uncertainty surrounding deficit-reduction negotiations in Washington is severely hampering his ability to craft a budget proposal for the upcoming General Assembly session. He said he'll submit a bill that assumes the worst and make adjustments after seeing what Congress and the White House agree to.
"Even if [federal cuts] are eliminated and replaced in some way, even if these cliff issues are resolved, there is going to be less money coming from the federal government to every state in the country," McDonnell said. "And Virginia will be disproportionately affected because we are a disproportionate recipient [of federal money]."
Offering few details, McDonnell said he'll propose to the legislature a plan that raises $500 million a year for roads and legislation requiring teachers to be evaluated, two proposals that failed in this year's legislative session.
"Legislators deserve the right to be smarter today than they were yesterday," McDonnell said. "It's a different year
The tax increases are automatic. Republicans don't have to help O raise any taxes because of this. Extend the tax cuts to $250K.
While extending them to $500K instead sounds tempting there is a better chance that the economy slows at Obama's demand $250K, and he owns the tax increase over that because that was his major promise.
But first thing is Rs need to stop talking about themselves raising taxes, this is so stupid, They are automatic, Stop shooting yourself. especially YOU Bohner.
Next election cycle, we need to focus on electing only women. At least then we would have some guts on the Republican side of Congress.
Go to Hell Kaine.
Yall own it.
Boehner supports raising taxes no matter what he calls it or how he spins it.
“Half a cliff is better than none, dear Rats.”
The GOP, which keeps losing these budget battles so far, could take a lesson from martial arts: Use the opponent's force against him. This kind of thing happens in politics all the time. One side wins an election, the other side uses that against them.
Of course, in a real martial arts match, the media does not take sides. This is certainly worth a try, although it seems to me that in 2012 voters really ignored the damage O had done to the economy.
While extending them to $500K instead sounds tempting there is a better chance that the economy slows at Obama's demand $250K, and he owns the tax increase over that because that was his major promise.
We may discover that there are also important business owners whose income is greater that $1M, and who would be at a disadvantage even if the bush tax rates were extended for up to that number. Many of them may hold on to their money or move offshore when the rates go up.
But do enough US voters really want a job now? I wonder if it's going to take a serious economic crash to get rid of the Dems now. Obama's tax hike, even the 250K version, might not cause that soon.
Lets put this into prospective.
There are hundreds, if not thousands, of various interest groups within each state who are discussing matters with their senator (either Republican or Democrat). Most are a bit worried because this isn’t a great method of fixing the debt problem (a controlled method is the desire of most folks).
So the President and his agenda team may desire the cliff-method....but I suspect that half of the Democrats in the Senate are bound and determined to conclude this mess before Christmas and will tell Harry Reid of internal negotiations shortly. I don’t think Harry can control the President’s agenda, and in fact....he might be under a fair amount of pressure from his own state to hustle up a real solution here.
The President may think he’s got everyone lined up....but some Democratic senators are running for office in 2014, and really don’t want this as a reminder in their campaign. You won’t win votes with a happy face and a fiscal cliff as an accomplishment.
He isn't even sworn in and he's gone squishy on Democrat stuff ~ they'll NEVER give him a decent committee assignment now ~ probably won't even respect his staff inquiries into constituent services.
There are between 60 and 80 thousand people regularly employed by these folks ~ right here ~ in Fairfax, Arlington and Alexandria.
Ever see a DC address as a place to send your donations? That's where the mail goes ~ the business is over here!
Obama's tax increase is going to hurt these guys two ways ~ (1) Their executives will get hit, and (2) Donations will dry up ~ which means the other employees will get laid off.
Bet somebody thought federal employees would be damaged in all this ~ sorry, most of them work somewhere else ~
Since the fund raising folks are mostly Leftwingtards they are in constant, chronic contact with members of the Senate, and with Representatives nationwide, but it's with the Senate that they push their agendies with the most vigor.
Since Bernie Madoff disappeared into the maw of the federal prison system these guys have to actually work to get major funding ~ and that's been really tough during the Great Obamugabe Recession ~ so you can imagine the pressure all the senators are under EXCEPT FOR HARRY REID. He has only one charity with which to be concerned ~ the Latter Day Saints ~ just hand over his 10% every year and he's on his way to his own planet ~ or so he believes.
There's a very good chance in this that Harry Reid could find himself odd man out with a majority of Democrat senators ~ we should watch for that.
Why would that be? You mean those earning $2M? (so they pay higher taxes on half of it?)
Do they file for the $2M after deductions and business deductions?
RE :" But do enough US voters really want a job now? I wonder if it's going to take a serious economic crash to get rid of the Dems now. Obama's tax hike, even the 250K version, might not cause that soon.
Especially if O can mandate what spending the Houses passes to prop up the economy. Right now they demand unlimited debt limit, no filibuster and more stimulus spending, but to votersO says he just wants 'tax increases on the rich. This will be ugly.
I think thiis is what the Rush's, Hannity's and Norquists are terrified of and why they urge Republicans to self destruct over this middle class tax cut/upper tax automatic increases. What if when those rates go up the economy still appears (to voters) to improve as it did in the 1990s? (of course its not the 90s)
If we are going to elect somebody that doesn't have any balls, might as well be a woman.
What is this word that our President has no concept of?
At some point the GOP will recognize that they are negotiating with 0bama who will not now or EVER compromise.
Maybe someone should get Beohner the book “Negotiating with people who can't compromise for DUMMIES”.
I somehow get the feeling that what one would find in such a book is quite similar to what they teach people about negotiating with terrorists.
To be more blunt about this, the GOP is going to the proverbial gun fight with a knife.
Anything from 1,000,001 up. Different businesses and individuals have different profit margins and individual circumstances. If you are just barely making a profit or breaking even in 2012, then facing O-care and taxes on medical devices, you might have to lay off some people, or even go out of business. Now that we are on the road to Greece, the ratio of producers to takers is getting smaller, and producers include employees who might not have a job next year.
Obama is making welfare more attractive than ever (and the GOP's solutions for entitlements are not much better -- both parties are counting on unsustainable borrowing and money printing). By one estimate, 66 million Americans are receiving food stamps and/or Medicaid, and 21 million working for the government. Total 87M. 109M are working in the private sector. What's wrong with this picture?
Do they file for the $2M after deductions and business deductions?
Some with that that level of income will make it. I suspect others may not. You can argue that such businesses should not exist if they can't make adjustments to survive, but I think this economy is a lot worse than the one Clinton raised taxes on.
But let's assume that the GOP allows taxes for those above 250K to go up, the economy gets a lot worse, and the voters elect Jim DeMint POTUS in 2016. I have no confidence whatsoever that a GOP congress would save us from becoming Greece.
Maybe a super rich elitist snob like Romney was not the best person to convince voters of the merits of tax cuts for himself, err 'job creators' (acceptable code word) .
Hell, back with 2004 Kerry, Republicans despised those same qualities, GWB was the guy you wanted that beer with..
I know many Republicans told me :”I dont care. I love rich guys like Mitt. I want to be one myself someday so I want someone like Romney as POTUS”
See yourself as like Mitt someday??, by winning Lotto.?? No wonder O rules the country now.
Republicans brought their own problems on themselves.
Has ANYONE established what creates the $250,000 number?
GROSS income?
ADJUSTED GROSS income???
TAXABLE income?
These are 3 different numbers on your tax return.
It can be a big difference between GROSS income and TAXABLE income.
Does anyone know????
Democrats want to loot the country for the benefit of their supporters. They have the power to do the looting. If we ‘play alone’ with them their ‘big brother muscle’ - the MSM - will tag us with blame for the whole mess.
There are ways to walk away... we need to find those ways.
You are entertaining :)
I knew Republicans were very stupid picking an elitist snob like Romney to lead the fight on tax cuts, but nothing prepared me for the current insanity of many Republicans demanding that the House take a stand against tax cut (extensions) for the middle class because Mitts and Rushes taxes are going up (and R+H want revenge on the voters for it), and then claiming voters wont figure out who did it and will reward them (Rs) for it.
When the House extends the tax cuts below $250K income (this year) you think those Rs who vote for that tax cut will get primary challenges for doing it, ala Norquist?
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