Skip to comments.WH plan for how to pay for jobs bill: Half a trillion dollars, Let the Super Committee figure it out
Posted on 09/12/2011 4:32:33 PM PDT by SeekAndFind
Or, I guess, we could borrow another $500 billion, with offsetting spending cuts to come in, uh, “the out years.”
Knowing the GOP’s steadfast opposition to tax increases, why would The One shove an allegedly bipartisan-minded jobs plan at them that’s paid for entirely with new revenue? Take three guesses, and the first two don’t count. Yuval Levin:
The White Houses proposed means of paying for the jobs bill the president called on Congress to adopt last week really sheds light on the cynicism and confusion at the heart of the presidents new campaign theme. In order to be able to insist that he is proposing ideas but Republicans are unwilling to act, the president will apparently propose exactly the same set of massive tax increases that even Democrats in a Democratically-controlled Congress were unwilling to consider in the midst of the Obamacare debate in 2009. Obviously, having proven unable to persuade his own party to raise those taxes by that much during his prime, the president will be unable to persuade Republicans to do so now. But since evidently his re-election strategy will involve arguing that he is incapable of persuading congress to act, the Republicans rejection of massive tax hikes should help him make his case.
Via Andrew Stiles, here’s a Times story from April 2009 about the Democratic Congress’s verrrry lukewarm reception at the time for a similar Obama proposal that would have funded ObamaCare by eliminating $318 billion in certain itemized deductions for wealthy taxpayers. Today’s proposal would fund the new jobs plan with $400 billion via the same sort of deduction rollbacks for the affluent, including the one for charitable contributions. (They won’t go into effect until 2013 lest the new taxes slow any new recovery.) Why would Obama push a revenue plan that his own party ran away from? It makes zero sense if his top priority is to get a bill passed ASAP since it guarantees yet another protracted partisan war over the merits of tax hikes without so much as a whiff of new spending cuts to sweeten the proposal. But it makes perfect sense if his top priority is to improve his chances at re-election by making the GOP choke on raising taxes on the rich, an issue on which the public consistently sides with Obama in polling.
At first blush it may seem irrational that O would play hardball on a new stimulus, not merely because the economy desperately needs help but because his own election fortunes are tied to recovery. But if you assume that the economy won’t recover by Election Day — and the White House does assume that at this point, remember — then the politically shrewd move is to do triage by passing the buck as much as possible. Hence today’s plan, as presented below by Obama budget guru Jack Lew: House Republicans should go ahead and add half a trillion dollars in new revenue by endorsing a bill to which they’re ideologically opposed, and then, if the Super Committee’s up to it, they can start thinking about some spending cuts or whatever. The One checked the box by offering a bill and, much to the delight of his base, he’s not trying to cut anything this time, so his work here is done. On to the campaign.
QE I and II worked well - as did ‘cash for clunkers’... what’s the problem? /s
Excuse me, but I don’t believe the Super Committee has authorization to handle Obama’s additional debt.
obamma, the supper committee cannot be ordered to figure it out. The vote to authorize the super committee has no authorization by the rest of congree to tackle your pet projects.
This is the same as the “I Love Lucy” episode where Ricky gets her a business manager to handle the household finances (pay the bills, make the budget, etc.). She goes into business 2nd-hand selling groceries billed to the home account.
Her response about the double-dipping? “That is the business manager’s problem.”
obamma, the supper committee cannot be ordered to figure it out. The vote to authorize the super committee has no authorization by the rest of congress to tackle your additional pet projects, as you so command.
The bill is written just as the debt ceiling increase bill with a trigger. This time instead of triggered spending cuts, it is triggered tax increases. So the super committee now has to come up with $2 trillion instead of 1.5 trillion.
[But it makes perfect sense if his top priority is to improve his chances at re-election by making the GOP choke on raising taxes on the rich, an issue on which the public consistently sides with Obama in polling.]
Btw, the rich in Obama’s new bill is anyone making over $200,000 a year.
Oh, that’s the name of the game alright.
Obama promised that the last two “stimuluses” were all about INFRASTRUCTURE and SHOVEL READY JOBS. Still waiting; and now more promises.
He KNOWS the Republicans are not going to rubber stamp his tax increases and MORE spending.
So, the name of the game is “blame the Republicans and re-elect me”. Right out of the Democrat Leftist Playbook.
“...then the politically shrewd move is to do triage by passing the buck as much as possible... House Republicans should go ahead and add half a trillion dollars in new revenue by endorsing a bill to which theyre ideologically opposed, and then, if the Super Committees up to it, they can start thinking about some spending cuts or whatever. “
We waited 3 years for a jobs program , then another 2 weeks after a Vacation in Martha’s Vinyard for this .. your kidding , .. right ??/sarc
After 2 years waiting for a Federal budget , and still counting ,.. and waiting,..and waiting ...
Zero’s leadership from behind leaves much to be desired .
Zero is in over his head.
The bill as presented gives it to them.
Trying to double down on stupid.
I think it’s as simple as this: Barry has no interest in creating jobs——for ANYONE. He merely wishes to bankrupt the country, impose martial law when people come with pitchforks and reign as dictator.
Where is Bo the dog? Did they eat him?
I think the reason people want a Rick Perry (a Sarah Palin would be better but there you go) is because we want someone who isn’t afraid to call out Obama on this... we know Sarah isn’t afraid...and it looks more likely that RIck Perry isn’t afraid to speak his mind about Obama. Romney isn’t up to the task.
Let Obama blame the REpublicans....the likely candidates are NOT CONGRESS...I don’t think Obama’s tactic is going to work because he’s trying to play the outsider when he IS Washington, but let’s face it...it’s the ONLY thing he can do at this point.
Why would they want too? They would have to find the $1.2 billion first.
I think that the total charitable contributions for the USA is somewhere close to $300 billion how much by "rich" people I don't know. If Obama gets his way he'll have to borrow money before the election.