Posted on 07/19/2011 1:44:00 PM PDT by Qbert
The Gang of Six “Bipartisan Plan to Reduce Our Nation’s Deficits” claims their tax reforms would be scored by the Congressional Budget Office as a $1.5 trillion net cut. But no details are provided on how they arrive at this number other than saying they will abolish the Alternative Minimum tax. So how can this plan claim to be a “balanced approach” (which means higher revenues), yet also claim to be a $1.5 trillion tax cut?
This probably means they are using a CBO baseline that assumes the AMT continues as written today and that the current Bush rates expire. Last August, the CBO said those policies would amount to a $4.8 trillion tax hike. Which means the the Gang of Six plan probably raises taxes by about $3+ trillion over current rates.
This “plan” will destroy the middle class.
They’re going after our retirment (401k and IRA), our health insurance (employers can’t deduct what they pay), and raises taxes on dividends, interest and capital gains.
This plan is death to the middle class and anyone trying to save for their family.
It should be political death for any Republican that supports this tax grab.
They appear to be headed in the wrong direction.
Yep. It will also further destroy the already-decimated housing market, with what I’m hearing about the proposals involving the mortgage interest deduction.
Hang ‘em.
Anytime they say “gang of” I know something bad is coming.
Riots in the streets are in our future.
Cloward and Piven coming to life.
I'm guessing doom for our country if it passes.
Tax legislation must initiate in the House, pass the ways and mean committee then the house vote, before it gets to the Senate. This duck ain’t gonna fly but does paint the colors on the Rino turncoats quite plainly !!
Elections have consequences and the last one spoke loudly. Let the House members hear your voice again before it’s too late !
Lead, brass, copper, mayber some silver and gold for balance.
Huckleberry Finn, chapter 23:
“We are sold — mighty badly sold. But we don’t want to be the laughing stock of this whole town, I reckon, and never hear the last of this thing as long as we live. NO. What we want is to go out of here quiet, and talk this show up, and sell the REST of the town! Then we’ll all be in the same boat. Ain’t that sensible?”
Works for me.
The six senators backing the deficit initiative are Tom Coburn, R-Okla., Mike Crapo, R-Idaho, Saxby Chambliss, R-Ga., Kent Conrad, D-N.D., Mark Warner, D-Va., and Dick Durbin, D-Ill.
Contact the GOP criminals and tell them what you think of them.
Contact that unctious weasel McConnell, and tell what to think about this since he doesn’t know.
http://chambliss.senate.gov/public/index.cfm?p=Email
http://coburn.senate.gov/public/index.cfm/contactsenatorcoburn?p=ContactForm
http://crapo.senate.gov/contact/email.cfm
http://mcconnell.senate.gov/public/index.cfm?p=ContactForm
Liberals will NEVER get rid of AMT.
This is just a smokescreen to get Republicans to support it and then do a bait and switch.
6 jerkof@$&’s plotting the fate off 300,000,000+ minions. Why do we let them do that. Thought it was We The People. Not My Gang of 6 Shi($?ds.
People in this country have been had. Maybe it’s too late. This USMC is losing faith.
“There is no Gang of Six plan”
By: Conn Carroll | Senior Editorial Writer Follow Him @Conncarroll | 07/19/11 3:33 PM
A five-page document titled “Bipartisan Plan to Reduce Our Nation’s Deficits” was distributed to 49 senators by representatives of the Gang of Six today. President Obama quickly endorsed the document as being “broadly consistent with the approach that I’ve urged.”
A quick read of the document provided by the Gang of Six (which is composed Senate Minority Leader Dick Durbin, D-Ill., Senate Budget Committee Chairman Kent Conrad, D-N.D., and Sens. Mark Warner, D-Va., Mike Crapo, R-Idaho, Saxby Chambliss, R-Ga., and Tom Coburn, R-Okla) shows that virtually no real details have been agreed to.
The plan claims to achieve a $500 billion “aggressive deficit reduction down payment,” but outside of a repeal of Obamacare’s CLASS Act, no specifics are identified. Instead the plan calls for “discretionary spending caps” (meaning no scpecific cuts have been agreed to) and other “numerous budget process reforms.”
The rest of the plan just kicks all decisions down the road to Senate committees. For example, the Senate Finance Committee would be charged with reporting legislation that “would permanently reform or replace the Medicare Sustainable Growth Rate formula ($298 billion) and full offset the cost with health savings” and “find an additional $202/$85 billion in health savings,” and “maintain the essential health care services that the poor and elderly rely upon.”
In other words, Finance would have to increase payments to doctors by $298 billion over the next ten years, find the money from other government health care programs to pay for it, then cut another $85 billion from government health spending, and accomplish all of these cuts without rationing care for those on government health programs. That isn’t a plan, its a fantasy.
The Armed Services Committee is then charged with finding $80 billion in cuts, Homeland Security $65 billion, Agriculture $11 billion, Energy $6 billion, and Commerce $11 billion. All this budgeting from Democratically controlled committees that haven’t produced a budget in over 800 days!!!”
http://washingtonexaminer.com/blogs/beltway-confidential/2011/07/there-no-gang-six-plan
Certainly by now people are aware of “Newspeak.” A tax increase is named a tax cut, getting out the vote means stuffing the ballot box, freedom means slavery etc. etc. It works!
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