Posted on 07/20/2011 1:43:08 PM PDT by SeekAndFind
The compromise “Gang of Six” plan to get out of the debt ceiling crisis was blasted Wednesday by conservatives angered that any Republicans would be considering a plan that calls for $1 trillion in taxes -- under the guise of balancing the budget.
Paul Ryan, the Republican chairman of the House Budget Committee, said the gang’s numbers don't add up. He described the plan as “a backroom bill."
And Grover Norquist, president of Americans for Tax Reform, complained that the gang plan was not written down. “Nothing [to] praise or criticize,” he tweeted before sending another message slapping down the National Journal for saying his organization had backed the plan.
“Absolutely not,” he wrote. “Obama did . . . makes you wonder how big the tax hike is.”
House Majority leader Eric Cantor said "the plan fails to significantly address the largest drivers of America's debt, and it is unclear how the goals of tax and entitlement reforms would be enforced."
The proposal to cut the debt by $3.7 trillion was greeted warmly by a few lawmakers inside both parties and President Barack Obama called it “broadly consistent” with his approach to solving the long-running impasse.
But, like all other plans to find a way out of the stalemate, it is still a long way from a done deal with just two weeks left before the Treasury’s Aug. 2 deadline for default.
(Excerpt) Read more at newsmax.com ...
Good! Blast the plan away!
They have nothing...no Pontius Pilate Act, no Gang of Six..all there is ...is the Cut Cap and Balance plan.
That’s why Obama is changing course and signalling he will take a short term deal
For those who can’t wade through the hundreds of pages in the Gang of Six Plan,
* It prposes that government spending should be cut by $500 billion immediately as a start on the deficit reduction plan.
* It calls for marginal income tax rates to be lowered and an eventual abolition of the alternative minimum tax.
* Three new tax brackets — 8-12 percent, 14-22 percent, and 23-29 percent — would be introduced in a bid to raise $1 trillion in revenue, the part of the plan that is bound to anger many Republicans in the House.
In the meantime, Tom Coburn said he had returned to the gang because it had a proposal to cut entitlement programs, including slashing $116 billion from healthcare. He called that move “significant.”
just like TARP and Health Care you have to pass it to see whats in it.
Is this the plan that aims to “create revenue” by eliminating the mortgage deduction and the employer paid insurance deduction? Good way to hurt the average taxpayer.
I haven’t had time to dig through this (not really worth the time anyway) but I’m curious; are the “Bush Tax Cuts for the Rich” rolled back under this plan?
The fact that they are even putting up these trial balloon plans show they should not even be in congress.
What pages? There have been numerous threads today stating the "plan" is nothing but a framework, and won't be ready for a vote in time.
Boehner should get that giant gavel and declare “Cut, Cap and Balance” a historic event and that “The Era of Having to Pass a Bill to Know What’s In It” is over.
The devil is always in the details...which is why Obamajaad always makes everything a crisis passed at the nth hour before anybody can analyze the details.
I hope our guys have the strength of mind to hold fast for us.
I just can’t figure out where these people think we OWE them another $1 trillion in taxes to spend. Every dollar confiscated by the government is a dollar that we the people don’t have an opportunity to earn ourselves.
Yes he wants a short term deal so he can open the door again - when the short term deal runs out - to a “grand compromise”
I say give them something to pass w/ cuts - like CCB without the amendment - and take it all the way to election.
Easing off on the amendment will be seen as compromise - helping w/ the media battle. And taking it to the election keeps the bungler from opening the door to further increases or new tax hikes.
I think I heard that Obama praised it, which to me means it’s worthless.
IMHO, “eventual abolition” of any tax = never.
Does anyone know where I can view the video or the transcript from last nights vote.
Coburn should be tarred and feathered when he gets back to OK. Same goes for Chambliss from GA and Crapo from Idaho. We expect such dirty tricks from Democrats, but Republicans should know better.
Chambliss is gonna get an earful when he gets home. I promise.
The Gang are Judenrat. Look it up.
Crapo, Chambliss and Coburn should be run out of office by their constituents.
This isn’t the FIRST time these idiots have sucked up to the Dems. They have done it on other issues. They are light weight versions of Lindsey Graham, John McCain, Olympia Snowe, Susan Collins and Luger.
Is that considered opposition?
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