Opposition Grows to ‘Gang of Six Plan’ ($1 Tril. in taxes under guise of balancing budget)

NewsMax ^ | 07/20/2011 | Martin Gould

[Steelfish]

Actually, we need to know what they mean by “immediately” since another report in the Washington Times says that $500 billion cuts will take place after 2012. The elimination of mortgage deductions is confined to mortgages balances exceeding $500,000.00

[Principled]

GOP voting NO: Bachmann, Broun (GA), Canseco, DesJarlais, Griffith (VA), Jones, Mack, (Ron) Paul, Rohrabacher.

DEM voting YES: Boren, Cooper, Matheson, McIntyre, Shuler.

from http://www.freerepublic.com/focus/f-news/2750970/posts

see post 17

[KC Burke]

Another good way to describe this One Trillion in tax hikes is to explain that the Bush era “tax cuts” provided tax savings of approximately $550 Billion to all tax payers of which 85% went to households making less than $250,000. Look it up on CNN Money.

These increases are double the entire Bush Tax cut tax savings to individuals which still allowed overall revenues to grow.

The members of congress are criminally stupid.

[NRG1973]

The way I see this playing itself out is that the “Gang of Six” will ultimately come up with a debt ceiling plan that passes the Senate and is blessed by 0bama. Then the House of Representatives will vote on, and defeat the “Gang of Six” proposal. After defeating the “Gang of Six” proposal, the House will then begin altering that bill via amendments, adding some more spending cuts to it, making more of the Senate’s spending cuts immediate and moving more of the tax increases in the out years. It will ultimately pass the House and be sent back to the Senate. If Boehner handles it right he should be able to make alterations to the “Gang of Six” bill that will be passed in the Senate and signed by 0bama.

This is gonna really tick off a lot of folks on both side of the ideological spectrum but the House can pull off a minor coup de ‘etat while still avoiding the “extreme” label.

[Terry Mross]

President Barack Obama called it “broadly consistent” with his approach

Nobody knows what his approach is no matter what the left wing liberal mouthpiece press says.

[RummyChick]

I should have been more specific..I actually want to see the debate that led up to the vote..or a transcript.

[Principled]

HA sorry.

let me know if you find it

[Paine in the Neck]

* It prposes that government spending should be cut by $500 billion immediately as a start on the deficit reduction plan.

Even this is fake cuts - the usual DC game of calling reduced increases "cuts".

[B4Ranch]

>>the “Bush Tax Cuts for the Rich”<< were for the Middle Class not the jet setters.