Posted on 07/04/2011 12:47:04 PM PDT by yoe
Sorry, but we all know how this ends.
There is NO WAY the current elected officials are going to do the right thing.
IF they were then we would know that already. It isn’t happening
They will give the house away - we already know this.
And you know this because...I don’t think I’d place my bet on this one.
What is all the hand wringing and complaining about? Cornyn insisted that whatever the size of the debt ceiling increase, there will be a dollar-for-dollar match in spending cuts, including IMMEDIATE cuts for FY 12.
The GOP knows it is on a short leash and the House will not accept a bad deal.
Many conservatives believe that we should have a series of these smaller deals between now and November 2012 - the American people will learn on multiple occasions who the spenders truly are, and who is serious about the debt, and who is not.
All of this instantaneous hand-wringing is stupid, unwarranted and unbefitting FR.
Brilliant. Punish the people who have worked and saved. Take capital out of the economy. Force people to liquidate stocks and bonds. Crash the markets. Force the producers to leave.
Speak for yourself, FRiend. WE THE PEOPLE have NO "moral obligation" to pay debts racked up by career politicians spending money we don't have to buy votes from the moocher class in order to gain reelection/more personal power.
We CANNOT pay back the debt we already have amassed - Hell, we can barely maintain debt service. Our Nation is bankrupt. Time to default and reorganize.
>> My proposal is extremely painful for the short-term, a massive, ONE-TIME draconian tax, retroactive on unearned income
My guess is, this tax you propose for US would affect *you* not in the least.
Anyway, without *drastic* cuts in the rate at which we’re SPENDING money, it would be a worthless, futile gesture. And I notice you said absolutely NOTHING about CUTTING SPENDING. Why?
Those should be the FIRST things to go. Anything paying for anything outside our borders.
Assuming it in fact is dollar-for-dollar, I’d rather see these small mini-steps over and over - it keeps it right in the public eye.
“You can bet Bachmann will be in on this cave-in too.”
Gee, that’s weird- she was one of the Conservatives who voted against the 2011 FY budget deal. Apparently voting the right way is “caving in” now...
http://reddogreport.com/2011/04/bachmann-among-27-republicans-voting-against-budget-deal/
No, we must cut spending! This is a serious situation; sacred cows on both sides of the ideological debate must be BBQ’d, with the primary focus on eliminating the debt.
Producers (”earned income”) should be protected under the plan.
I have a moral obligation to feed my children. I won’t be able to do that if a “draconian” tax is imposed on me.
I’m not willing to pay one more penny for most of the garbage they are spending OUR money on. Let them cut EVERYTHING and see how it goes from there. But they are too concerned about their re-election prospects, not the plight of the country and its citizens.
Another thing, also not a popular topic but one which can no longer be avoided, is the overall lack of innovation in our country. So many rely on passive income, looking for a free buck for doing essentially nothing. We ought to reward productivity.
We ought to cut spending - repeal ObamaCare.
We ought to cut the earned income tax rate to 10% - leave unearned at 15% or even raise it. The point is to encourage people to get up off their duffs and quit expecting free rides whether they come in the form of a government handout or through dividends.
Sorry for the take-no-prisoners approach here, but we're going to have slay everyones' sacred cows if we want to save this economy and restore our prestige.
Barring that, here's a better review from the Wall Street Journal:
Republicans want major spending cuts before they agree to increase the debt cap. Many insist the budget deal can't include any tax increase. But like Mr. Cornyn, some have opened the window to raising federal revenue. That could pave the way for an agreement.Mr. Cornyn said Sunday he wanted any broad revamp of the tax code to be revenue neutral, meaning it shouldn't bring in more cash than the current system. There may not be enough time to strike such a tax deal before Aug. 2, he said.
"But it ought to be the first thing we turn to, to make our tax code more rational. We could bring down rates, eliminate a lot of the tax expenditures and loopholes," he said.
If the sides don't reach a long-term budget accord this month, Mr. Cornyn said Congress may have to approve a short-term deal.
"The big problems aren't going to go away if you cut a mini-deal, all it does is delay the moment of truth. So I'd say better now than then, but if we can't, we'll take the savings we can get now and we will re-litigate this as we get closer to the election," he said.
GOP tries hard to surrender
You'd be able to feed your children as earned income is not affected under my proposal for precisely this reason. Only unearned is impacted.
Yes, let them cut EVERYTHING - provided we can get popular support for that...
Do you have other ideas for paying off the debt? Keep in mind, the interest accumulates at such a rate that it's best to take a big bite out of the principal sooner rather than later...
The answer is to cut the fat from the federal government, that is at least 20% of the budget and maybe up to 50% depending on your definition of “fat”.
We are not udnertaxed.
The Debt Ceiling is a sham, a farce, it never stops anything.
Now it comes in a “Mini” form.
Next it will be a “micro-mini” form, and so on. They will continue to find more ways to steal from us than a teenager comes up with excuses for not doing their homework.
Nothing will stop this run away freight train of a Government.
Nothing.
I would propose, following this, a 10% earned income tax rate (sticking with 15% for unearned).
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.