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
Where Does it say that? No one has seen the bill yet.
Pure hysteria!
((( Ping! ))) Lists Here! AND, General Bump! Here Post #15
Filibuster w/ Lee, West Needs TEA, Rubio Quote, Expose Default Scare Fraud, End Dems Ponzi Economics
yo. Boehner sux.
“because a lot of the deficit reduction is provided by the expected increase in revenues due to the expiration of the Bush tax cuts. That is my understanding”
I’m not picking on what you are saying, but how can we predict that the additional revenue from the expiration of the Bush tax cuts will have an impact on deficit reduction? The way Washington works, that money will already have been spent or borrowed against by the time the first nickel clangs into the collection box at the IRS. Again, I’m not being cynical about your post, just wondering if you have information from the bill or elsewhere that the funds have to be used for deficit reduction.
Therefore, it is not something brand new in this bill which is what stories like this imply.
Fox Business Channel has the Speaker on now.
they are allowed to look into tax hikes.however, if the committee is deadlocked then the mandated cuts kick in. what are the chances of a tax hike getting out of committee much less getting through the house?
Zero.
Are we doomed yet?
Oh, that’s right, we’ve been doomed for several years.
Never mind, headed for the airport and Rome, will report from there on conditions in Italy.
He’s now faced with the prospect of raising taxes in an election year - by his own pen. That is a big loser for him and I doubt he’ll do it. He didn’t last time, earning him ongoing derision from the left.
The only part of what you said that is correct is the last sentence. You see, the Bush tax cuts automatically expire at 12:00 AM on 1/1/2013. No one in Congress or Obama has to lift a finger to kill it except Father Time, and we automatically get a big tax increase. That will accelerate our plunge into depression, as the economy is already weakening before the knowledge of this increase became general knowledge. Note that the CBO scoring of this bill include the baseline assumptions of whatever the law currently is for out years...meaning that for calendar year 2013 and beyond, the CBO scoring already included the expiration of these cuts. That is the ONLY way that they could arrive at the figures they did. Further, the "Super Congress" set up by this bill will never approve tax cuts, so there is no negotiating this later. This is baked into the cake.
Any Republican voting for this is voting for a huge tax increase in the middle of a severe recession/depression. Plays right into the Cloward/Piven strategy. Yup, we through Br'r Obama right into the briar patch.
No, I am only saying that the CBO will score the expiration of the Bush tax cuts as an increase in revenues. Which I grant you may not reflect reality.
I understand that any tax hike is not now a part of the plan, but that the “super committee” could approve a tax hike. The committee has 6 pubs and 6 dems. To pass the committee, a tax hike must have 7 of 12 votes, so one of them must be a pub.
Then it must pass both House and Senate with a majority vote in each house.
That makes it seem remote, but it isn’t impossible, either.
He’s now faced with the prospect of raising taxes in an election year - by his own pen. That is a big loser for him and I doubt he’ll do it. He didn’t last time, earning him ongoing derision from the left.
The only part of what you said that is correct is the last sentence. You see, the Bush tax cuts automatically expire at 12:00 AM on 1/1/2013. No one in Congress or Obama has to lift a finger to kill it except Father Time, and we automatically get a big tax increase. That will accelerate our plunge into depression, as the economy is already weakening before the knowledge of this increase became general knowledge. Note that the CBO scoring of this bill include the baseline assumptions of whatever the law currently is for out years...meaning that for calendar year 2013 and beyond, the CBO scoring already included the expiration of these cuts. That is the ONLY way that they could arrive at the figures they did. Further, the "Super Congress" set up by this bill will never approve tax cuts, so there is no negotiating this later. This is baked into the cake.
Any Republican voting for this is voting for a huge tax increase in the middle of a severe recession/depression. Plays right into the Cloward/Piven strategy. Yup, we through Br'r Obama right into the briar patch.
“at the end of 2012..”.....2013
Right in time (planned) for the new “Stamp Act” this “Stamp Act” not levied through all print material, but instead levied directly against the human body, every-BODY...
The “Vampire-Care-Stamp-Act, against the temple of the Holy Spirit. Against every-BODY....What effects the body? EVERYTHING. The new overt “work-camps.”
And watch for new business regulations through this, such as all employees must be retained without direct govt. approval. “Work-camps.”
“Thou Shall Not Steal” Exodus 20:15
“Know ye not that the body is the temple of the Holy Spirit....”
Rush clearly explained why it is a guaranteed tax hike no matte what. Since all the assumptions and calculations are based on the Bush tax cuts going away, increased taxes will have to come either via the Bush tax cuts not being renewed or the equivalent of those “lost monies” having to be obtained via other increased taxes (i.e., call it what you want, taxes will be increased under this bill).
This is a sham.
Except they were set to automatically expire on 12/31/2010 but they didn't. All the same pressures to extend them will still be in place next year. Plus, it's an election year.
Why would you post that?
A tea party caucus house R (Mike Lee)got it at 2am and read it.
He reported on it early this morning on the fox show with hemmer and that nasal conderitti woman.
He found the tax hikes.
He also mentioned the rule they passed over that it was promised no bill would go for a vote until it had been available for 3 days.
It's a dem Pelosi tactic, if you want to know what is in the bill you have to pass it first.
Worked for Obamacare.
All this scare tactic stuff, defund the military and don't pay seniors, what a crock.
They could cut about a trillion in waste and redundancy today if they wanted to.
The GOP isn't much better than the dems.
I don’t trust Dems to the point I’ve been worrying that they are pretending to hate this “deal” because they have already figured out how to use it to their advantage...to raise taxes and/or spendmore.
LAST UPDATED ON AUG. 1 at 3:41 p.m.
HOUSE LAWMAKERS WHO SUPPORT DEAL OR WHO WILL LIKELY SUPPORT IT (45)
Robert Andrews (D-N.J.)
Judy Biggert (R-Ill.) – Issued statement on Sunday suggesting she will back it.
Brian Bilbray (R-Calif.)
John Boehner (R-Ohio) – Speaker working to minimize defections, but there will be plenty.
Kevin Brady (R-Texas)
Vern Buchanan (R-Fla.)
Dave Camp (R-Mich.)
Eric Cantor (R-Va.) – House majority leader expressed support in Sunday GOP conference call.
Shelley Moore Capito (R-W.Va.) — Put out supportive statement Sunday night.
Lois Capps (D-Calif.) — Leaning yes.
Tom Cole (R-Okla.) – A team player for the House GOP conference.
Gerry Connolly (D-Va.) – Leaning yes.
Charlie Dent (R-Pa.) – Tells The Wall Street Journal new deal sounds similar to “what I voted for the other day.”
Mario Diaz-Balart (R-Fla.)
Bob Dold (R-Ill.) — Spoke out in favor of it on the floor.
David Dreier (R-Calif.)
Renee Ellmers (R-N.C.)
Jo Ann Emerson (R-Mo.)
Chaka Fattah (D-Pa.) – Says he will support the deal.
Jeff Fortenberry (R-Neb.)
Barney Frank (D-Mass.) – During appearance on “Morning Joe,” Frank said he believes deal could have been worse, though he favors the military cut provisions. Asked for comment, Frank’s office said he is withholding comment at this time.
Sam Graves (R-Mo.) – Has told local media he will vote yes.
Tim Griffin (R-Ark.)
Michael Grimm (R-N.Y.) — A yes vote.
Richard Hanna (R-N.Y.) — A yes vote.
Jeb Hensarling (R-Texas) – Member of GOP leadership team.
Steny Hoyer (D-Md.) – House minority whip did not rave about bill, but sounded supportive on Monday in TV interviews.
Darrell Issa (R-Calif.)
Mike Kelly (R-Pa.)
Pete King (R-N.Y.)
Jack Kingston (R-Ga.) – Gave deal positive reviews in interview with Politico.
James Lankford (R-Okla.) — Says he will vote yes
Donald Manzullo (R-Ill.)
Kevin McCarthy (R-Calif.) – Expressed support during GOP conference call on Sunday night.
Gary Miller (R-Calif.) — A yes vote.
Bill Owens (D-N.Y.) – Tells Watertown (N.Y.) Daily Press he’s likely to vote yes.
Scott Rigell (R-Va.) — Inclined to support deal, according to Virginia-Pilot.
Dana Rohrabacher (R-Calif.)
Paul Ryan (R-Wis.)
Heath Shuler (D-N.C.) – Voted in favor of “cut, ap and balance” and says he will vote yes.
Mike Simpson (R-Idaho)
Debbie Wasserman Schultz (D-Fla.) – Head of the Democratic National Committee; she could play key role in whipping effort.
Allen West (R-Fla.) – Leaning yes.
Steve Womack (R-Ark.)
Bill Young (R-Fla.)
HOUSE LAWMAKERS WHO WILL VOTE NO OR ARE LEANING NO (25)
Michele Bachmann (R-Minn.) – White House hopeful announced Sunday she is a no. She voted no on Boehner bill.
Mo Brooks (R-Ala.) — A no.
Paul Broun (R-Ga.) – Voted no on Boehner bill.
G.K. Butterfield (D-N.C.) — Leaning no.
Jason Chaffetz (R-Utah) – Possible Senate hopeful said he is a probable “no” vote. He voted no on Boehner bill.
Emanuel Cleaver (D-Mo.) – Head of the Congressional Black Caucus called it a “sugar-coated Satan sandwich.”
Peter DeFazio (D-Ore.) – Said on the House floor there are “no jobs” in the package. Voted against stimulus and has not been shy in criticizing President Obama. Said Monday he would vote no.
Jeff Duncan (R-S.C.) – Told ABC he is a no. Voted no on Boehner bill.
Donna Edwards (D-Md.) – On Sunday, she tweeted, “Nada from million/billionaires; corp tax loopholes aplenty; only sacrifice from the poor/middle class? Shared sacrifice, balance? Really?”
Eliot Engel (D-N.Y.) — A strong no.
Louie Gohmert (R-Texas) – Says he is leaning against and would like more time to consider bill.
Raúl Grijalva (D-Ariz.) – Co-chairman of the Congressional Progressive Caucus has ripped deal, saying on July 31 that it was crafted for “right-wing radicals.”
Tom Graves (R-Ga.) – Voted no on Boehner bill. Will vote no again.
Jesse Jackson Jr. (D-Ill.) – Has told his party he’ll oppose the deal.
Jim Jordan (R-Ohio) – Firm no. Voted no on Boehner bill. But aide says conservative won’t whip against measure.
Marcy Kaptur (D-Ohio) — Will vote no, according to WUPW TV in Toledo, Ohio.
Jeff Landry (R-La.) — A no vote.
Connie Mack (R-Fla.) – Voted no on Boehner bill.
Jim McDermott (D-Wash.)
Jerrold Nadler (D-N.Y.) – On MSNBC, Nadler said 80 percent of House Democratic Caucus would reject any bill to the right of Senate Majority Leader Harry Reid’s (D-Nev.) debt measure. Tells gaggle of reporters on Monday that he’ll vote no.
Ron Paul (R-Texas) – White House hopeful expected to reject bill. He voted no on Boehner bill.
Charles Rangel (D-N.Y.) – Tells reporters he is “disappointed” in the deal.
David Schweikert (R-Ariz.) – Leaning no.
Joe Walsh (R-Ill.) – “We can do better, and we have to do better,” he told CBS News. Voted no on Boehner bill.
Maxine Waters (D-Calif.)
http://thehill.com/homenews/house/174649-whip-count-house-leaders-seek-votes-to-pass-debt-limit-deal
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