Skip to comments.THE GRAND CAPITULATION
Posted on 12/18/2012 8:32:43 AM PST by massmike
Last week, Heritages J.D. Foster said, In the debate over the fiscal cliff, the Presidents position is simple: The Republicans must capitulate on income tax rate hikes, and all other serious issues are not up for discussion. That statement has been proven painfully accurate time and time again, and things have gone downhill over the weekend.
According to reports, Speaker John Boehner (R-OH) has offered $1 trillion in higher tax revenue over ten years and an increase in the top tax rate on people earning more than $1 million a year. $450 billion in revenue would come from raising the top rate of million-dollar-plus income from 35 percent to the Clinton-era 39.6 percent. The rest of the $1 trillion on revenue would come from a rewrite in the tax code next year and by slowing the inflation adjustments made to tax brackets.
Liberals and conservatives know very well that raising taxes is not enough to fix our nations fiscal problems, problems like a deficit of $1.1 trillion and publicly held debt of $11.3 trillion or 73% of GDP.
While conservatives are calling for spending cuts (which would actually fit the definition of the word solution), liberals want to extend the governments borrowing cap to fund the government for one year before the issue must be revisited. In his latest proposal, Speaker Boehner has obliged. But that is no real solution at all.
In fact, even when President Obama was demanding the mind-blowing $1.6 trillion in revenue, the national debt [would] still go up by about $7 trillion over the next ten years.
(Excerpt) Read more at heritageaction.com ...
I don’t think anybody capitulated, naively compromised, was outmaeuvered, tricked or outsmarted. The people who control both parties have been working for the collapse of the US for a long time so world governance can be ushered in.
this is the same snookering job Obama has been using in the eleventh hour crisis he has engineered every year since the job took the House
translated it - every year - has come down to the same thing:
“give up and give me something now, just to move passed the crisis, and we promise to work on the rest, and what you want, ‘next year’ “
and ‘next year’ never comes until the eleventh hour ‘next year’, when again it’s crisis time and again Boehner is asked to “give in, just for now”
why is he so f*ing stupid!!!!!!
Obama does not want, need or intend to deliver on true spending reductions or spending reform.
He only needs the automatic or last-minute-crisis delivered increases in the national debt, so that he can continue to spend on the spending plans of the 2009 Pelosi budget with its automatic built-in spending increases.
That’s what he has been doing for 3 plus years and stupid and treasonous Boehner seems poised to continue to provide.
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