Posted on 11/26/2012 3:35:47 PM PST by tobyhill
The talks between President Obama and congressional Republicans to avoid looming tax hikes and steep spending cuts regressed Monday to the same old sticking point — raising taxes on wealthier Americans.
Although both sides had expressed optimism before Thanksgiving that they would reach a deal to prevent a serious blow to the economy in January, the post-holiday pronouncements from the White House showed a re-emphasis on the president’s position that tax rates must rise for families earning more than $250,000 per year. And some top Republican lawmakers again insisted they won’t raise tax rates on anyone, arguing that enough revenue could be raised for deficit reduction by closing tax loopholes and limiting deductions.
With six weeks to go before the government reaches the so-called “fiscal cliff,” Mr. Obama had no meetings with lawmakers Monday and none were planned for the rest of the week. Instead, White House officials suggested Mr. Obama would continue to appeal to the public to pressure Congress to agree with his preferred approach.
(Excerpt) Read more at washingtontimes.com ...
Sure, the Senate GOP will cave and the House leaders will cave but hopefully it won’t pass the House
If this whole business REMAINS stalled, then the tax rates revert to the level they were BEFORE the “Bush tax cuts” were instituted.
And sequestration kicks in.
That is already the standing law.
Nothing, really, has to be done.
The Democrats get their higher tax rates on the “wealthy”.
But the lower economic levels ALSO get to send in their “fair share”.
The Democrats get the cuts to the military they are so dearly beloved of.
But other descretionary spending ALSO gets a bite taken out of it, and voluntarily or otherwise, this includes Obamacare.
For the Republicans, the way forward is simple. Hang tough, and stay the course.
Chicken is a wickedly delightful game, if played right.
Even if played wrong, its outcome is still spectacular.
Go over the cliff now! Whatever happens we will blamed for it anyway. Everyone needs to feel the pain of this imposter’s failed policies!
“ObamaCliff” - his team came up with the concept, he signed it.
exactly right
Exactly. It’s the only way to get people’s attention on the real problem, entitlements. When the Bush Tax Cuts expire for ALL then maybe they’ll realize it didn’t make a dent in the deficit.
Of course they will cave. They just wait til the last minute to make it look like they really really tried. Then Tammy Faye will come out boo hooing in his hankie and tell us it was the best deal they could get. As usual.
Agree completely. And when we go over the Senate will come begging for a deal because they have a lot more (contributions) to lose.
Well, nice theory, but if we go overr the “cliff” as you surmise, taxes rise on everyone, and then Obama will campaign for lowering taxes for the middle class and become a hero. The pressure to enact some such legislation will be driven by (1) politics, and (2) the declining state of the economy and (3) more job losses, which going over the fiscal cliff will ensure. Keep in mind that sequestration alone will result in the losses of hundreds of thousands of jobs, many military-related. As much as we might like everything to fall apart on Obama’s watch in the hope that the devastation will bring him down, he will find a way to blame Republicans. Keep in mind, as well, that unemployment benefits run out for more than 2 million people on January 1. More chaos. Can they extend benefits (again) in the face of sequestration? Sounds like planned chaos to me, as if Obama is bringing us down one way or another, all by design.
The GOP will get the blame no matter what so they might as well go scorched earth to get what they want.
Oh, I tend to agree. I’m just predicting what will follow. And it sure ain’t gonna help me sell my house!
I’d like to see Boehner tell Barry that they will work on a compromise only if Barry does a national primetime TV address on what exactly happened at Benghazi. No Benghazi, no compromise.
Libs heads would explode and laughter would ensue.
I with you.
Let all the Bush era tax cuts expire. When all the current freeloaders have to start paying in not be too soon.
Blame game is already going on so we might as well have the moochers with some skin in the game and paying their fair share like the Boy King wants.
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