Posted on 08/01/2011 11:06:13 AM PDT by Kevin in California
Edited on 08/01/2011 12:52:01 PM PDT by Admin Moderator. [history]
Just reported that in this debt deal is indeed a BIG TAX HIKE!
This is breaking....:
Tax Hikes 'Impossible' Under Debt Deal? Think Again ...
Published August 01, 2011
| FoxNews.com
The debt-ceiling deal moving toward a vote in Congress could easily pave the way for tax increases despite Republican claims that tax hikes are "impossible" under a deal struck with the White House to reduce spending in exchange for a debt-limit increase.
But as everyone knows, "impossible" isn't really in Washington's vocabulary.
Here's how it could happen:
After Congress enacts more than $900 billion in spending cuts to give President Obama a $900 billion lift in the nation's $14.3 trillion debt ceiling, a bipartisan committee will be formed to find roughly $1.5 trillion in additional deficit savings over the next decade.
To get there, the committee is free to look at virtually anything -- including "revenue" -- even though House Speaker John Boehner said Sunday night that current budgeting guidelines make it "impossible" for the 12-member group to approve tax hikes.
Other officials and analysts beg to differ.
"The suggestion that it is impossible for the joint committee to raise tax revenue simply is not accurate, it's false," White House Press Secretary Jay Carney said Monday.
Tea Party-aligned Sen. Mike Lee, R-Utah, said that's one of the concerns stopping him from supporting the deal.
"Certainly, tax increases could be something that we could face," Lee told Fox News.
Boehner is able to claim no tax hikes are possible because the committee would work off the assumption that the Bush tax cuts -- all of them -- will expire in 2013. Combined with other expiring provisions, that adds up to $3.5 trillion in tax hikes over the next decade, without the committee taking any action
Excerpt, read more: here
“The free birth control has nothing whatsoever to do with this bill.”
You will be hard pressed to convince many here that this is true. For a lot of people here anything bad that happens from here to eternity will be because it was hidden deep inside this deal and Republicans were to stupid to spot it.
The only way they are scoring a $2 Trillion decrease in the $8 Trillion increase in spending is by also accepting $3.6 Trillion tax increase by letting the Bush cuts expire.
This is a total catastrophe. More taxes to pay for some of the increase in spending.
Republicans are signing up for higher taxing and spending.
If they vote for this, they are finished as a party.
I wonder how you became so convinced you were an oracle of the future.
Give it a rest .. I was looking for any hints, WH
or not, which stated there were ANY tax hikes,
especially since we’re being told repeatedly by
Boehner and Reid there are NONE.
Did you happen to glance at this piece before you
decided to launch on me?
~~~~~~~~~~~
Not Playing the Fool
Posted by Erick Erickson
Monday, August 1st at 4:46AM EDT
There are a lot of Republicans tonight willing to play the fool for the GOP in this debt ceiling plan. They say, for example, that there will be no tax increases from this super committee. Never mind that the Democrats are saying otherwise.
I can prove to you right now that there will be tax increases.
The Congressional Budget Office (CBO) expects the Bush tax cuts to expire. So all the commission has to do is two things: extend middle class Bush tax cuts and enact a permanent alternative minimum tax (AMT) patch.
Those two together would look like an increase to the deficit in CBO scoring. So then the commission can start out of the gate with the ability to create several trillion dollars in new tax hikes to equal out to the cuts — cuts that will happen even without the commission most likely.
And where will those cuts come from? Those making $250,000.00 or more, of course.
And probably the Gang of 6s ideas to eliminate most deductions to income taxes without revenue neutral rate reductions and the Gang of 6’s pièce de résistance — raising capital gains taxes from 15% to 28%.
Have people not been paying attention? In every single address the President has given on the debt ceiling, he has insisted on new tax revenue. John Boehner even put $800 billion on the table, so it is already there.
Rest:
http://www.redstate.com/erick/2011/08/01/not-playing-the-fool/
~~~~~~~~~~
Please be sure to omit me next time the foul mood overcomes.
I emailed Speaker Beohner this morning and asked him how he thought he would feel, knowing he was the Speaker who killed the Republican party?....
We're moving from "Bush's fault!" to "Debt-bill's fault!"
LOL!! Dittos. I saw this reported as well, but this thread had me convinced I was hallucinating! Glad someone confirmed I hadn’t lost my marbles.
The reality is....the Dems went spend crazy with things like GM, Union support etc ...and we're left with the bill..and need that cap to be raised.
Rush just said “The Hill’s” whip count has the vote currently FAILING 212 to 219.
By way of explanation.....Star wasn't giving an opinion on the posted. Star was just posting to give others info on what's being said out there. Sheesh!
Nate Silver: 87 GOP against. 112 Dems Against. They are short right now.
You aren’t losing your mind layback.
I just posted what I heard and Baeir on FOX reported on it as well.
Doesn’t seem terribly difficult to overcome for Boehner/Pelosi to flip 5 votes
There is no budget for 2012
Therefore, there is no realistic baseline. The change will occur within 60 days when the government really runs out of money for real
The House passed a budget. The Senate let it lay. No budget, no money
And there's your first mistake.
I've got a clue for you:
The WH will take every opportunity to frame everything in "tax hike" rhetoric to try to win back a base which is furious at their weakness.
Another clue:
ALWAYS ALWAYS believe the opposite of what Plouffe says...yes even when he appears on FOX!
Your fox news link is no good.
If there is one thing the dems are really good at it’s getting their people to vote the way they want them to. They will get the votes.
They couldn’t just cut spending without creating a Rube Goldberg machine, like the way they did with Health Care Deform.
Rush reports Boehner is short votes, needs 4-6 more.
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