Posted on 07/03/2011 7:30:30 PM PDT by TigerLikesRooster
July 3, 2011
2 Republicans Open Door to Increases in Revenue
By JOHN M. BRODER
WASHINGTON — Two senior Republicans said Sunday that they might be open to raising new government revenue as part of a deal to resolve the dispute over the federal debt ceiling, but they warned that there was little time to enact a comprehensive deal.
One of the senators, John Cornyn of Texas, said he would consider eliminating some tax breaks and corporate subsidies in the context of changes in the tax code, provided there was not an overall increase in taxes.
“I think it’s clear that the Republicans are opposed to any tax hikes, particularly during a fragile economic recovery,” Mr. Cornyn said on “Fox News Sunday.” “Now, do we believe tax reform is necessary? I would say absolutely.”
But he insisted that any changes in taxes be “revenue neutral,” meaning that the government would not take in any more money from individuals or businesses than it does now.
(Excerpt) Read more at nytimes.com ...
Even if he felt that he had good reasons, as a Republican, to explore alternative options on the economy and the budget, he should never go out and undercut his Republican colleagues like he consistently does. He should meet with them privately and discuss what he thinks.
That he doesn't do this is very telling. It says that McCain, at best, puts his self-interest above conservatives and his party. Much worse, it suggests that maybe his agenda is contrary to the interests of conservatives and the Republican party. Selfish jerk, or Machiavellian saboteur. It's a scary consideration.
Cornyn will be getting a phone call Tuesday morning from this fed up voting citizen.
>he would consider eliminating some tax breaks and corporate subsidies in the context of changes in the tax code<
not necessarily a bad thing, depending on the overall change in the code they are looking for....
Why don’t we reduce revenue to the government and put it back in the hands of the people?
For what? I would love to reduce rates and reduce deductions/subsidies. Isn’t that what Cornyn wants?
I agree that Cornyn needs to go, but a tax reform that lowers the rates and the complexity of the Code is a good thing if it is revenue neutral. Of course, there would be winners and losers, but the losers would more likely be government farming corporations like GE and ADM. The winners would tend to be smaller companies.
Broder is wishing.
I had to go to the link to get this. Our buddy McCain again has to stand out.
“Cornyn will be getting a phone call Tuesday morning from this fed up voting citizen.”
I’m sure he’ll be quaking in his boots since he’s next up for re-election in 2014. In his capacity as Senate campaigner, I guess he’s afraid of what might happen to GOP Senate takeover if the debt ceiling bit turns out to be a public relations fiasco for GOP.
Nevertheless, it’s a sellout and he’s turning out to be a less and less reliable conservative.
Could well be. Oh joy!
Cornyn is a huge dissapointment, like KBH and all the other statewide officials who lean moderate
I’m confused. I’d be in favor of eliminating all the phony special interest deductions in exchange for a lower rate on all taxpayers that did not raise total taxes collectied by the Gubmint. That’s called a Flat tax and all conservatives should consider supporting that. How is this different. Why couldn’t they eliminate the airplane, ethanol, oil deduction and simultaneously lower the tax rate on all companies by say 1% (whatever it takes to break-even). The government breaks even (no new taxes) but it’s more efficient and less need to pay lawyers and accountants. This isn’t bad if that’s what happens (Is everybody worried they’ll lie and just drop the deductions without simultaneously lowering the rate—Is that the issue?)
I googled it; sourcewatch says they are not related.
I’m getting tired of posting this, I’ve posted it so many times and no one has responded, not even once.
The Democrats in the Senate have a whole slew of bills sitting in the committees, bills that will affect a lot of different special interests in different states. These bills amount to a third stimulus bill, but are broken down into individual grants and subsidies, so as to create a problem for various Republicans in red states.
In the Northwest, its a coal terminal that will also ship grain from farmers who have been receiving payments in lieu of growing crops. The Democrats have promised to lift the farm regulations in exchange for shipping the grain and soy beans through a Goldman Sachs terminal in Whatcom County, WA. There are other schemes like this all over the country, from Maine, to South Carolina, to Oklahoma and Montana.
“and that if overall rates were reduced, then current special deductions and credits could also be reduced to produce a revenue neutral result on a static scoring”
That stuff almost always works out to a revenue net plus. Sneaky devils.
Sen. Cornyn can start planning his next career...
Article content = no increase in taxes, revenue neutral
NYT headline = 2 Republicans Open Door to Increases in Revenue
Article content does not match the headline...and it is evident most of these comments were made without reading the article.
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