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
It’s long past time and quite frankly, I think it’s too late to do any good.
Did anyone expect anything different?
Forgive me oh great greek god who issues pronouncements from on high, but no taxes occur unless passed by House, Senate and signed by Prez.
So, like Republicans are going to pass a big tax hike right before the 2012 elections, uh huh.
All of this is tortured thought. Bret B can show no such thing...that the deal includes big tax hikes. He will twist himself into a pretzel broken into a zillion pieces trying to show it, if what you posted is true, but he cannot do it.
I oppose the “deal”; it’s silly on its face that we went through all this angst for virtually nothing that addresses the issues we face.
It stands or falls on the truth of it, though, not the imagined stuff.
This deal does not guarantee it.
The 2nd half of the deal is to be decided in committee and then Congress votes on it.
http://twitter.com/#!/SatanSandwich
SatanSandwich Sugar Coated
Apparently Krugman wants the House Dems to vote me down. nyti.ms/mUqmZw Please. How about a Beezlebub Croissant, hippie?
28 minutes ago
No.
The deal also locks into place the Obamacare tax hikes.
All my best to you, GOP Freshmen, from up here in the Last Frontier.
Sincerely,
Sarah Palin
P.S. Everyone I talk to still believes in contested primaries.
ATM Fix goes away also.
The market tank this morning because the manufactures index is the weakest it has been in 2 years. That would seem to indicates our no recovery summer is about to become an extended recession
Amazing how many hysterical and uninformed people there are here
August 01, 2011
WH Says Deal Includes Tax Hikes
###
White House senior adviser David Plouffe said on Monday that he believes the newly minted deal to raise the U.S. debt ceiling will pass both houses of Congress and be signed into law by President Barack Obama.
Plouffe also appeared to clash with House of Representatives Speaker John Boehner, who said on Sunday that the deal included no tax hikes.
“That’s just not true,” he told NBC’s Today show. “If we’re going to do additional deficit-reduction in the fall, it should be tax reform, closing loopholes for the wealthy and big corporations.” Read more at Reuters.com.- http://www.reuters.com/article/2011/08/01/us-usa-debt-plouffe-idUSTRE77025620110801
There will be tax increases. The Deficit Commission will have at least one weak kneed Republican and the commission will only be as strong as its weakest link. The Bush tax cuts will also absolutely expire and not be renewed.
The alternative for the GOP would be seeing massive defense cuts and being blamed for senior citizens seeing their Medicare cut. “But,” House Republican leaders exclaim, “the cuts would not be to beneficiaries.”
True, the cuts would be punishing doctors who will respond by denying access to Medicare patients.
The Democrats are happy to force through taxes in the committee and then, when the GOP opposes them, claim the GOP would rather hurt our soldiers and seniors than raise taxes on “fat cat millionaires.” Read more at RedState.com.-
http://www.redstate.com/erick/2011/08/01/not-playing-the-fool/
http://nation.foxnews.com/debt-crisis/2011/08/01/wh-says-deal-includes-tax-hike
“Any taxes recommended by the super commission must be voted on by the Congress.”
How? Packaged into one take it or leave it bill? Voice vote?
even if they ARE extended the “bi partisan” (read obama victory team) will say the extension is a cut that must be paid.
IOW DC is back to “it DC’s money they allow us to have.”
No it does not.
This is the umteenth time you have posted something that was only a complaint that someone else posted something, well within the guidelines, that you didn’t like.
Annoying!
But the debt deal will leave in place tax hikes and ensure the reasons for more.
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.