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FOX NEWS: Tax Hikes 'Impossible' Under Debt Deal? Think Again ( Debt deal is indeed a BIG TAX HIKE!)
FoxNews ^ | August 01, 2011 3:20PM Eastern | Staff

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



TOPICS: Breaking News; News/Current Events; Politics/Elections
KEYWORDS: deception; democrats; liberalfascism; lies; morevanities; notaxes; notbreaking; notbreakingnews; notsourced; ohthehugevanity; taxcheatparty; taxes; troll; vanity
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1 posted on 08/01/2011 11:06:15 AM PDT by Kevin in California
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To: Kevin in California

FOX is reporting that this is the reason Boehner is :20 minutes late to the podium.

Guess ya gotta pass it before you can see what’s in it.


2 posted on 08/01/2011 11:08:02 AM PDT by Kevin in California
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To: Kevin in California

3 posted on 08/01/2011 11:08:30 AM PDT by TSgt (When in the Course of human events...)
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To: Kevin in California

This is the second thread today you have posted about something you’ve seen on TV.

Without a link.

As News.

I’m just saying...


4 posted on 08/01/2011 11:08:54 AM PDT by humblegunner (The kinder, gentler version...)
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To: Kevin in California

ooops


5 posted on 08/01/2011 11:09:18 AM PDT by novemberslady
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To: Kevin in California

When is the vote? Will the house vote and approve a tax hike?


6 posted on 08/01/2011 11:09:30 AM PDT by forgotten man (forgotten man)
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To: Kevin in California
Rush Limbaugh has been savaging him all afternoon. Looks like he didn't manage to pass it before we found out what was in it....
7 posted on 08/01/2011 11:09:39 AM PDT by apillar
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To: Kevin in California

please let this get out to the public before the Vote.


8 posted on 08/01/2011 11:09:39 AM PDT by RummyChick
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To: Kevin in California

It may be time to turn off the TV and find something to do.


9 posted on 08/01/2011 11:09:55 AM PDT by AppyPappy (If you aren't part of the solution, there is good money to be made prolonging the problem.)
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To: Kevin in California

“Guess ya gotta pass it before you can see what’s in it.”

Sure, that’s the Pelosi way. Well, it worked for them on Obamacare.


10 posted on 08/01/2011 11:10:17 AM PDT by citizen (Romney/Christie or Rubio!! Either would be great. Bachmann fading...No more Dick Obama in 2012!)
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To: Kevin in California
How about a crumb of a detail. What tax? When? By how much?

Or does this just lock in the end of the Bush tax cuts unless "paid for" by other tax increases/spending cuts?

11 posted on 08/01/2011 11:11:06 AM PDT by KarlInOhio (The Repubs and Dems are arguing whether to pour 9 or 10 buckets of gasoline on a burning house.)
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To: Kevin in California
In most instances, politicians can't be trusted.

Therein lies Sarah Palin's beauty. She is feared -- actually hated -- for having torn into, and jailing, corrupt politicians in Alaska

12 posted on 08/01/2011 11:11:23 AM PDT by OldNavyVet (One trillion days, at 365 days per year, is 2,739,726,027 years ... almost 3 billion years)
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To: Kevin in California

Paging Rep. Tom Reed, R-NY....


13 posted on 08/01/2011 11:11:28 AM PDT by mewzilla (Forget a third party. We need a second one.)
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To: Kevin in California
Guess ya gotta pass it before you can see what’s in it.

Not this sh!t again!

14 posted on 08/01/2011 11:11:34 AM PDT by EGPWS (Trust in God, question everyone else)
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To: apillar

>> Rush Limbaugh has been savaging him all afternoon.

With Mark Levin to follow in a few hours.


15 posted on 08/01/2011 11:11:57 AM PDT by Gene Eric (May our dreams converge for a free and prosperous nation.)
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To: Kevin in California
Guess ya gotta pass it before you can see what’s in it.

Did they pass it already

16 posted on 08/01/2011 11:12:24 AM PDT by jersey117
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To: Kevin in California

????

Any real details or just another “someone said XXXXX on TV” thread?


17 posted on 08/01/2011 11:13:00 AM PDT by RockinRight (If we're "teabaggers" then they're "d-baggers.")
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To: Kevin in California

outrage.


18 posted on 08/01/2011 11:13:05 AM PDT by ken21 (ruling class dem + rino progressives -- destroying america for 150 years.)
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To: Kevin in California

There better not be - else all hell is going to break loose.


19 posted on 08/01/2011 11:13:05 AM PDT by Godzilla (3-7-77)
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To: Kevin in California

20 posted on 08/01/2011 11:13:05 AM PDT by Yo-Yo (Is the /sarc tag really necessary?)
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To: Kevin in California

Just reported on Fox News that Bret Braier will be reporting on this hidden tax agenda that is in the bill in a few min.


21 posted on 08/01/2011 11:13:10 AM PDT by Red_Devil 232 (VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!)
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To: Kevin in California; BufordP

Oh, crap! This being August 1, I was in support of it, but now I cannot support it.

Sh*t.


22 posted on 08/01/2011 11:13:41 AM PDT by Tolerance Sucks Rocks (It's the Tea Party's fault!)
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To: EGPWS

ChadPergram Chad Pergram
GOP Conference meeting still going. House will start 3 votes at 2 pm which tells me they should start debate on the rule around 2:45 pm.


23 posted on 08/01/2011 11:13:49 AM PDT by RummyChick
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To: Kevin in California

Torpedo this Marxist POS!!

HOLD THE LINE!!

Rebellion is brewing!!


24 posted on 08/01/2011 11:14:22 AM PDT by Jim Robinson (Rebellion is brewing!! Impeach the corrupt Marxist bastard!!)
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To: Kevin in California

25 posted on 08/01/2011 11:14:30 AM PDT by null and void (Day 921. When your only tools are a Hammer & Sickle, everything looks like a Capitalist...)
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To: Red_Devil 232

We need details because I saw no such tax hikes.


26 posted on 08/01/2011 11:14:52 AM PDT by Peter from Rutland
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To: Kevin in California
FoxNews has just learned what Freepers figured out 15 hours ago. If this gets passed, then the GOP will have lost it's platform for the 2012 Congressional elections. I can hear the DNC ads right now.

The Republican House voted for the biggest debt ceiling increase in US history . . .

27 posted on 08/01/2011 11:15:19 AM PDT by Hoodat (Yet in all these things we are more than conquerors through Him who loved us. - (Rom 8:37))
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To: Yo-Yo

Darn you...


28 posted on 08/01/2011 11:15:42 AM PDT by null and void (Day 921. When your only tools are a Hammer & Sickle, everything looks like a Capitalist...)
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To: RummyChick

JimPethokoukis James Pethokoukis
Back of the envelope: If CBO’s 2011-2016 forecast falls short by 0.5 pct pt, debt cuts disappear


29 posted on 08/01/2011 11:16:06 AM PDT by RummyChick
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To: Kevin in California

You need to get the title fixed. As the details unfold, this is a POS bill.


30 posted on 08/01/2011 11:16:17 AM PDT by Indy Pendance
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To: Kevin in California
Everyone knows there will be big tax hikes on Dec 31, 2012 when ALL the Bush tax cuts expire.
Obama didn't throw it in this “deal” because he knows he wouldn't get a “deal” and besides he figured he could just wait a year and a half and get it automatically.
31 posted on 08/01/2011 11:16:17 AM PDT by tobyhill (Real Spending Cuts Don't Require Increasing The Debt)
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To: KarlInOhio

It will be in a FNC Breaking News item reported Live by Bret Baier in just about a min.


32 posted on 08/01/2011 11:16:25 AM PDT by Red_Devil 232 (VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!)
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To: Kevin in California

We need links.


33 posted on 08/01/2011 11:17:07 AM PDT by digital-olive
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To: Hoodat
Yep

34 posted on 08/01/2011 11:18:35 AM PDT by RummyChick
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Comment #35 Removed by Moderator

To: RockinRight
This is from Heritage....

Morning Bell: Liberals Force Choice Between Economic and National Security

36 posted on 08/01/2011 11:18:49 AM PDT by mewzilla (Forget a third party. We need a second one.)
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To: Kevin in California

You have a severe case of knee jerk.


37 posted on 08/01/2011 11:19:20 AM PDT by verity (The Obama Administration is a Criminal Enterprise.)
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To: Kevin in California

I think what’s happened is that the budget deal takes into account the end of the Bush Tax Cuts in 2013. They probably couldn’t get the extra $2.4 trillion without that.

Certainly not if they leave out reform of Medicare. And Obama couldn’t offer any more on that because he already gutted it by $500B.


38 posted on 08/01/2011 11:19:57 AM PDT by bigred44
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To: RummyChick

Jamie Dupree
jamiedupree Jamie Dupree
GOP lawmakers emerging from meeting say concerns over defense cuts were addressed in meeting
5 minutes ago
»
Jamie Dupree
jamiedupree Jamie Dupree
Tea Party favorite Rep Allen West (R-FL) says he will vote for debt limit plan
8 minutes ago
»
Jamie Dupree
jamiedupree Jamie Dupree
Rep Tom Graves R-GA says GOP should keep fighting for Cut, Cap & Balance rather than the debt deal
10 minutes ago


39 posted on 08/01/2011 11:20:24 AM PDT by RummyChick
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To: Kevin in California

On Fox: bill assumes Bush tax rates expire in 2013 as a baseline. Bill is worded so that it could repeal ALL tax rates — AMT, others — and make them much higher — a huge tax hike. Bottom line: will taxes jump because they assume ALL tax breaks will expire in 2013. Much confusion. Added to huge defense cuts and there may not be the votes in the House to pass.


40 posted on 08/01/2011 11:20:56 AM PDT by pabianice (")
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To: All; Kevin in California
Boehner's office has released an outline addressing many issues:

http://www.speaker.gov/UploadedFiles/3-7-31-11-Debt-Framework-Boehner.pdf

On taxes and the committee, it says this:

Under the framework, the Joint Committee of Congress will work off a current-law baseline, as required by the 1974 Budget Act, effectively making it impossible for Joint Committee to increase taxes.

41 posted on 08/01/2011 11:21:07 AM PDT by newzjunkey (Next: coalescing behind ONE "Balanced Budget Amendment" (BBA))
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To: mewzilla
Does the deal raise taxes or not?

And if ya hafta ask...

42 posted on 08/01/2011 11:21:07 AM PDT by mewzilla (Forget a third party. We need a second one.)
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To: Tolerance Sucks Rocks

They are better off just passing a debt hike with the first round of cuts, and calling it a day. On to 2012 without creating this monstrosity of a super committee with all the fallback provisions. This is looking to be the turkey we all feared it would be.


43 posted on 08/01/2011 11:21:19 AM PDT by ilgipper (political rhetoric is no substitute for competence (Thomas Sowell))
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To: KarlInOhio
How about a crumb of a detail. What tax? When? By how much?

Details do not matter. Any sucking of money for any sector, rich or otherwise, results in you paying more in taxes. Is that hard to understand since it has been explained time and time again.

Here is one: If you raise taxes on the super rich, you will have that tax passed along in higher service cost or products that this rich person provides. Therefore you are paying the tax. Get it.

Many more examples but just to lengthy to explain such as health care. Pure forced tax. And if you think your employer pays them for you, watch your pay check grow. Crickets!!!!!!

44 posted on 08/01/2011 11:21:42 AM PDT by Logical me
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To: Kevin in California

Tell Me Lies, tell me sweet little lies
~Tell Me Lies, Tell me tell me lies~
Oh no no, you can’t disguise
~You can’t disguise, no you can’t disguise~
Tell me lies, tell me sweet little lies


45 posted on 08/01/2011 11:21:47 AM PDT by tumblindice (No one's life, liberty or property is safe while Congress is in session. MT)
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To: RummyChick

there is no time to read it. We are in a crisis!!!


46 posted on 08/01/2011 11:22:07 AM PDT by paul51 (11 September 2001 - Never forget)
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To: Kevin in California; 3D-JOY; abner; Abundy; AGreatPer; Albion Wilde; AliVeritas; alisasny; ...

If this passes, we are apparently screwed.

PING!


47 posted on 08/01/2011 11:22:07 AM PDT by Tolerance Sucks Rocks (It's the Tea Party's fault!)
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To: bigred44

Add in the AMT Fix to The Bush Tax Cuts expiring!


48 posted on 08/01/2011 11:22:35 AM PDT by Red_Devil 232 (VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!)
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To: newzjunkey

Yeah sure.....and how many times have you heard one thing..and something else happens.

They are monkeying around with the Baseline to make their claims.


49 posted on 08/01/2011 11:22:53 AM PDT by RummyChick
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To: newzjunkey
That is such a crock.

Baseline Budgeting Makes Real Cuts Impossible in Washington

Speaker Boehner, you are a poltroon.

50 posted on 08/01/2011 11:23:09 AM PDT by mewzilla (Forget a third party. We need a second one.)
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