Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Senate Democrats draft debt-reduction plan (only a "modest" $2 trillion in new taxes)
http://www.washingtonpost.com/business/economy/senate-democrats-draft-debt-reduction-plan/2011/07/08/gIQAFQbS4H_print.html ^

Posted on 07/09/2011 10:03:22 AM PDT by quesney

Senate Democrats have drafted a sweeping debt-reduction plan that would slice $4 trillion from projected borrowing over the next decade without touching the expensive health and retirement programs targeted by President Obama.

Instead, Senate Democrats are proposing to stabilize borrowing through sharp cuts at the Pentagon and other government agencies, as well as $2 trillion in new taxes, primarily on families earning more than $1 million year, according to a copy of the plan obtained by The Washington Post.

With debt-reduction talks under way between Obama and congressional leaders, Senate Democrats are unlikely to adopt the blueprint. However, it has gained broad support among those eager to chart a path to solving the nation’s budget problems without making politically painful cuts to Social Security and Medicare.

“The very strong feeling was we needed to get this into the conversation, because it provides an alternative view,” said a Senate Democrat familiar with the blueprint, who spoke on condition of anonymity because it has not been publicly released. “What’s striking is how modest the changes need to be to get us back on track.”

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Breaking News; Front Page News
KEYWORDS: debtceiling; mccain2012; taxes
Navigation: use the links below to view more comments.
first 1-2021-4041-44 next last
More like the economy-reduction plan.
1 posted on 07/09/2011 10:03:28 AM PDT by quesney
[ Post Reply | Private Reply | View Replies]

To: quesney

Sounds like a shell game to me.


2 posted on 07/09/2011 10:07:19 AM PDT by Eric in the Ozarks (Eh ?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: quesney

How many friggin’ times do these morons have to be told it’s NOT A REVENUE PROBLEM... God help me, I loathe these vile, perverted liberal scum!


3 posted on 07/09/2011 10:07:32 AM PDT by Common Sense 101
[ Post Reply | Private Reply | To 1 | View Replies]

To: quesney

What’s this?!?!?

Senate Democrats threatening to create an actual budget ?!?!?!


4 posted on 07/09/2011 10:07:34 AM PDT by glorgau
[ Post Reply | Private Reply | To 1 | View Replies]

To: quesney

Any “savings” past the actual year you are budgeting for is pure hogwash. We can only accept and act on what we’re doing THIS year; this budget. All this, “Oh, we’ll cut down later,” is like saying I’ll quit smoking tomorrow.


5 posted on 07/09/2011 10:08:18 AM PDT by Gen.Blather
[ Post Reply | Private Reply | To 1 | View Replies]

To: quesney

What a great idea! First, make the country helpless to outside aggression. Second, tax the daylights out of the segment of the population that already pays the bulk of the taxes. And third, don’t touch the two failing Ponzi schemes that largely led to the situation in the first place. Makes perfect sense!


6 posted on 07/09/2011 10:10:37 AM PDT by immadashell
[ Post Reply | Private Reply | To 1 | View Replies]

To: quesney

It’s time to leave “the rich” alone and demand that the damn, lowlife politicians start paying for their BIG government out of THEIR OWN POCKETS! They want it, they can pay for it!


7 posted on 07/09/2011 10:11:08 AM PDT by FlingWingFlyer (When the going gets tough, the tough check themselves into "rehab".)
[ Post Reply | Private Reply | To 1 | View Replies]

To: quesney
This 10 yr planning horizon is fine, only just report this year's and next year's numbers as line items.

Who cares about the sum of the 10 yr numbers as it'll never work out that way.

8 posted on 07/09/2011 10:12:30 AM PDT by Paladin2
[ Post Reply | Private Reply | To 1 | View Replies]

To: Pride in the USA; Stillwaters

FYI, the new Democrat debt reduction plan: they’re proposing to cut $2 trillion, primarily from defense spending, and add $2 trillion in new income taxes. Yep...that will definitely make our nation safer and more prosperous going forward. They won’t be satisfied until we’re Zimbabwe.


9 posted on 07/09/2011 10:15:14 AM PDT by lonevoice (Life is short. Make fun of it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: quesney

Here’s the plan: we’re going to take your money AND your freedom.

You can thank us now. :)


10 posted on 07/09/2011 10:15:19 AM PDT by Tzimisce (Never forget that the American Revolution began when the British tried to disarm the colonists.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: quesney

It occurs to me that congressional Democrats don’t know what a trillion is - I’m serious.


11 posted on 07/09/2011 10:15:46 AM PDT by Havisham
[ Post Reply | Private Reply | To 1 | View Replies]

To: quesney
The country is presently borrowing approx 40% of what we are spending. If a friend or family member asked you for help in getting their finances squared away, and told you they were spending 40% more than what they were making, would you advise them to get some more credit/credit cards? I think not.

The BOehNER and his buds better read loud and clear what the people are demanding... CUT SPENDING...or their DC employment will be short lived.

12 posted on 07/09/2011 10:16:10 AM PDT by JPG (Elect Sarah Palin in '12. America won't get another chance.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Havisham

I think any more taxes to DC will capsize the country into the Atlantic Ocean.


13 posted on 07/09/2011 10:24:24 AM PDT by Paladin2
[ Post Reply | Private Reply | To 11 | View Replies]

To: JPG

“or their DC employment will be short lived.”

The problem is all these POSs have their future set in stone, they don’t have to worry about continuing employment. We need term limits as soon as possible so these asshats don’t get to rely upon their connections to cover their future. The are representatives, not career employees, at least, that is the theory.


14 posted on 07/09/2011 10:30:02 AM PDT by Mouton (Voting is an opiate of the electorate. Nothing changes no matter who wins..)
[ Post Reply | Private Reply | To 12 | View Replies]

To: FlingWingFlyer

We need to echo what Marco Rubio said this week...we need more taxpayers!
$2 trillion from millionaires? That is bull merd of the highest stinkiness.


15 posted on 07/09/2011 10:34:25 AM PDT by Shady (Capitalism works for men who do. Socialism works for men who don’t The numbers do not lie.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Eric in the Ozarks
"$2 trillion in new taxes, primarily on families earning more than $1 million year, according to a copy of the plan obtained by The Washington Post."

The analysis of the word PRIMARILY has signifigant importance in this statement.

16 posted on 07/09/2011 10:40:40 AM PDT by blackdog (The mystery of government is not how Washington works but how to make it stop)
[ Post Reply | Private Reply | To 2 | View Replies]

To: quesney
Soo...tax-paying citizens that still do have jobs are running out of money, have houses worth less than than they owe on the mortgage, energy costs..blah blah blah, and so taxi-paying citizens are going to be twisted and squeezed like a damp wash rag so government can have more press parties and talk about elections and the economy. Great.

Keep in mind, mindless myopic Feds, the locals are working every angle from combing through past tax records to traffic cams to get even more out of citizens who pay their taxes and have real license plates on their cars. When every citizen is on the government dole, will the pols then figure out the math?

17 posted on 07/09/2011 10:40:44 AM PDT by Voter62vb
[ Post Reply | Private Reply | To 1 | View Replies]

To: Common Sense 101
How many friggin’ times do these morons have to be told it’s NOT A REVENUE PROBLEM...

No sense in telling them, they totally reject your premise. These people cannot be convinced, they must be defeated. Unfortunately, we are led by a weak, effete, Republican elite who believe they can reason and compromise with the enemy, who they see as fellow "club" members.

It doesn't look good.

18 posted on 07/09/2011 10:46:38 AM PDT by Prokopton
[ Post Reply | Private Reply | To 3 | View Replies]

To: Voter62vb

This is just like what’s going on in Greece.

The socialist politicians promise austerity yet do not seem to have the nerve to really do what’s needed


19 posted on 07/09/2011 10:48:30 AM PDT by LMAO ("Begging hands and Bleeding hearts will only cry out for more"...Anthem from Rush)
[ Post Reply | Private Reply | To 17 | View Replies]

To: LMAO

NO DEALS

NO taxes


20 posted on 07/09/2011 10:50:58 AM PDT by JaneNC (es.)
[ Post Reply | Private Reply | To 19 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-44 next last

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.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson