Skip to comments.Debt ceiling: Key Republican bolts debt ceiling talks (RATS demand tax increases)
Posted on 06/23/2011 10:19:18 AM PDT by Libloather
Debt ceiling: Key Republican bolts debt ceiling talks
Jeanne Sahadi, On Thursday June 23, 2011, 12:22 pm
The bipartisan debt ceiling negotiations led by Vice President Joe Biden were thrown into question Thursday when a key Republican lawmaker pulled out of the talks.
House Majority Leader Eric Cantor said in a statement the group had made progress in identifying "trillions" in spending cuts, but that Democrats "continue to insist that any deal must include tax increases."
Taxes have been a central roadblock from the beginning: Democrats say they are a necessary part of any debt-reduction plan, and Republicans say they will not pass a plan that increases taxes.
On Thursday, Cantor -- one of two Republicans of the group -- said any proposal to raise taxes won't fly in the House. The tax impasse must be resolved before negotiations can continue, he added.
The only person Cantor believes who can resolve it is President Obama. "I believe it is time for the president to speak clearly and resolve the tax issue."
House Speaker John Boehner echoed Cantor's message during a news conference broadcast on CNBC. "These conversations could continue if they take tax hikes out of the conversation."
The White House did not issue an immediate response.
(Excerpt) Read more at finance.yahoo.com ...
Ok, let’s raise taxes — abolish the ethanol tax credits!
Bone Head said this?”These conversations could continue if they take tax hikes out of the conversation.”
Wrong you Douche Bag, drunken failure ,there can be NO talk of raising anything,that is NOT why you got the Job rummy!
Could someone please tell John Boehner that he needs to end every sentence with the phrase:
TAX INCREASES ARE WHAT KILL JOBS!
(EVERY DOLLAR THAT GOES TO TAXES IS A DOLLAR THAT CAN’T GO TO PAYROLL)
I can hear Obama now. “if I make a hole in one on this par 5 546 yard hole that is playing into the wind, I will support no tax hikes”
Why don’t they just go through the budget and cut out some of the more obvious examples of government wasteful spending. It might not solve the problem but it would show good faith and be a start.
- $200,000 for a tattoo removal program in Mission Hills, California.
- $190,000 for the Buffalo Bill Historical Center in Cody, Wyoming.
-$75,000 for the Totally Teen Zone in Albany, Georgia.
- The Securities and Exchange Commission spent $3.9 million rearranging desks and offices at its Washington, D.C., headquarters.
- Washington spends $25 billion annually maintaining unused or vacant federal properties.
- The Federal Communications Commission spent $350,000 to sponsor NASCAR driver David Gilliland.
- The Defense Department wasted $100 million on unused flight tickets and never bothered to collect refunds even though the tickets were refundable.
- Taxpayers are funding paintings of high-ranking government officials at a cost of up to $50,000 apiece.
- San Jose unified school district approved the purchase of a $725,000 pizza machine it claimed would produce 800 pizzas a day to sell at schools in its district. The machines produced 2,000 pizzas in two years which works out to roughly $360 per pizza.
Anyone want to go into the Pizza Machine business?
I agree with you but ask this question for discussion purposes: Is there a point where a government financial crisis is so bad that an increase in taxes in necessary. For example, interest on the debt. If it were paid down quickly, would that free up more money in the economy, thereby reducing governments drag on the money supply?
Now nobody blast me. This is a question for discussion. It came up in an offline conversation I had recently. Posting it here to get a serious response.
It will be paid down if trillions are cut from entitlements.
In addition, businesses would begin hiring again which would bring in more revenue to pay down the debt further.
That's what Boehner is saying.
Unfortunately, most Freepers are still harping on something that should have happened YEARS ago. At this point, we may have to do a ball crunch to get the debt into manageable levels, but it’s not fitting with the mantra of “lower taxes.... lower taxes....” and on and on.
While as a basic principle, lower taxes IS better for the economy, but some Conservatives haven’t grasped that we are in dire traits right now in this economy. Just because THEY are doing ok doesn’t mean everyone else is. And while they shrug those folks off as ‘parasites’ and such, they should recognize that these were fine and hard working people who probably didn’t pay attention to politics as much as they should have, but it doesn’t mean they are welfare parasites either. Most would probably prefer a job, but “lower taxes” when you are barely paying a light bill doesn’t computer for the average citizen. Even if it make them angry that the average citizen could have cared less three, four, 10 years ago...
The dems are trying to do the same thing today. They know that if they can get a majority of Republicans to sign off on any tax increases whatsoever. They can use it against them in 2012, not to mention getting the tea party to run 3rd party challenges against the republicans that vote for it.
You make a good point. My wife and I went through a process a few years ago where we cut out recurring payments on stuff we really did not need. It was $30 here, $20 there and included stuff like a land line (we only do cell phones and have for some time), comcast (we get free wi-fi from a nearby business), netflix, etc.
We ended up saving an additional 460 AFTER TAX DOLLARS a month!
The FedGov needs to cut spending in all the small places and it WILL add up.
Exactly. If you want less of something, tax it.
Sounds like why we don't tax to pay for wars and nation building [other than our own, that is].
They had damned well better have bolted! I don’t want them to initiate (budget bills) or pass ANYTHING this Muslim Poser wants. Bring the government to a standstill if need be.
“The only person Cantor believes who can resolve it is President Obama. “I believe it is time for the president to speak clearly and resolve the tax issue.”
Dream on Eric.
“there can be NO talk of raising anything,
That’s what Boehner is saying.”
He was talking about tax hikes,Before raising the Debt Ceiling!
If tax inreases actually started paying down the debt, the democrats would find a way to spend it.
We have seen it time after time. Believe it.
House Majority Leader Eric Cantor said in a statement the group had made progress in identifying “trillions” in spending cuts, but that Democrats “continue to insist that any deal must include tax increases.”
Yea the dumb-o-crat will agree to one trillion reduction if they can raise taxes by three trillion.
“I agree with you but ask this question for discussion purposes: Is there a point where a government financial crisis is so bad that an increase in taxes in necessary.”
Sure. A war, for example, would be an unexpected increase in expenses that might require a TEMPORARY tax increase in order to fund. There would still be negative consequences on the economy, but if a tax increase is temporary and the public clearly knows what it is needed for, then at least there is not this dreadful uncertainty about what the government will decide to hose us on next.
The current “government financial crisis” is a lot different than war debt though, since it was foreseeable and completely self-inflicted. If we have to raise taxes TEMPORARILY to get out from under this debt, I would support it, but ONLY after we have cut as much waste out of the federal budget as we possibly can, and put measures in place to prevent this from ever happening again. The government brought this mess about, so they should be the first ones to feel the pain from any belt-tightening, before they ask the American public to pitch in.
BTW, it seems to me that politicians will always prefer debt spending vs temporary tax increases, if they are allowed to do it. With debt spending, they can pass on the burden of paying for things to the next crop of politicians, instead of having to answer for raising taxes to their constituents back home.
Why even post anything from Yahoo they are further left than moveon.org...it amazes me that anyone even reads the crap they post
Understand that any tax increase is going to reduce economic activity. Money that the government confiscates, for whatever reason, is not available to the private sector for investment in economic growth.
Consequently, no tax increase should be considered until the economy is relatively healthy -- when it can withstand a downtick.
Speaking of tax increases now is nothing less than insanity. Or malevolence.
Then its about time everybody works extra hard pointing out that lower taxes and less regulation is exactly what will get businesses once again in the mood to expand and start hiring. Right now businesses are holding back because they dont know what is coming. The regulations in place increase their costs as well as the uncertainty of what taxes etc will be cause them to hold back.
If those you know want jobs again they had better be calling their Congress Critters to NOT increase taxes and reduce the regulations and make it easier and more profitable for businesses to expand.
Dont underestimate Cantors tactic on this. If, for some reason, there are any increases in taxes he MUST make sure that Obama owns it. He is forcing Obama to own both an increase in the debt ceiling and any increases in taxes.
Where does interest paid on the national debt (or any government debt) play into the drag on the economy? In other words, if there were no interest payments on the debt, would that free up more money for the private sector?
I guess the question is, can the debt rise to such a problem level that even though a tax to reduce would be bad for business, so to speak, is there a point where that would be better than the alternative.
All this presupposes that the money would actually be used to reduce the debt, over which I have no confidence that it would be. We are speaking hypothetically here. And please, again, do not confuse my raising these questions as my taking a position in favor or higher taxes. I've already got a sunburn from golf today. I am not looking for a further roasting.