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Yarmuth says he'd be OK only raising taxes on those making more than $500k
cn|2 Pure Politics ^ | 11/27/2012 | Nick Storm

Posted on 11/28/2012 9:08:46 AM PST by Republican Wildcat

U.S. Rep. John Yarmuth, D-Louisville, is holding out hope Congress can come to an agreement before the end of the year to avoid the fiscal cliff – a mix of mandatory spending cuts and the expiration of the Bush-era tax cuts.

Unlike others, such as Democratic Sen. Patty Murray of Washington, Yarmuth said he doesn’t want to see Congress wait until after the first of the year to take up the tax issue. Murray has said Democrats might have a better chance to keep the cuts only for the middle class if the cuts are allowed to expire so Congress returns in January and votes to reduce the rates.

Yarmuth told Pure Politics he hopes Congress can deal with extending the Bush era tax cuts to the middle class and fight it out over income taxes on the highest earners – something he said could be done in January.

He also said he’d be open to raising the threshold for the cuts to those earning more than $500,000, which is what Warren Buffett suggested Monday, according to Politico.

“Where we can compromise is probably on the income threshold. I wouldn’t have a problem on saying we’re going to raise the rates on people making over half-a-million-dollars, 250,000 may be a little too low a number,” Yarmuth said Tuesday at a public event before leaving for Washington.

Yarmuth said either way passing a tax cut now or doing nothing that ultimately Congress will deal with part of the spending cuts and income tax deal and deficit reduction during the 2013 session.

(Excerpt) Read more at mycn2.com ...


TOPICS: Business/Economy; Extended News; News/Current Events; US: Kentucky
KEYWORDS: fiscalcliff; taxes; yarmuth

1 posted on 11/28/2012 9:08:55 AM PST by Republican Wildcat
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To: Republican Wildcat

I am so glad I left the Peoples’ Republic of Louisville before this putz got his claws deeper into the district - and my bank account.


2 posted on 11/28/2012 9:15:28 AM PST by Old Sarge (We are officially over the precipice, we just havent struck the ground yet...)
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To: Republican Wildcat

Freepers,

Call/email your congressmen now and ask why they are allowing the discussion to be about revenues and tax cuts as opposed to SPENDING. $86 trillion in unfunded liabilities/$16 trillion debt. Tell them to go on offense for once and not let BHO split the party by getting some to vote for tax increases.


3 posted on 11/28/2012 9:15:36 AM PST by madameguinot
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To: madameguinot
$86 trillion in unfunded liabilities

Which is more money than exists in the entire world - so no amount of tax increases, even assuming they all raised revenue - which they don't, will solve that problem. In addition, if the debt continues to be added to at the current rate, any spending cuts or increases in revenue will be swallowed up by the debt service and a downward spiral ensues like we have going on in places like Spain right now.

4 posted on 11/28/2012 9:19:49 AM PST by Republican Wildcat
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To: Republican Wildcat

How about we increase the taxes on all government employees making over $100,000 year. That ought to take care of the problem.


5 posted on 11/28/2012 9:20:19 AM PST by spawn44 (moo)
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To: Old Sarge

The media will probably refer to him as the intellect of the Kentucky Congressional delegation.


6 posted on 11/28/2012 9:20:46 AM PST by Republican Wildcat
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To: Republican Wildcat

We know that the Democrats will raise the tax rates. The truly rich will find a way to not pay the increase. The Democrats always knew this. They know they won’t get more tax money out of the rich. The Democrat and media leaders are rich. The middle class will pay more taxes. The lower class will receive more money from the middle class. The Democrats will crow about getting even with the rich and helping the poor. The Republicans will stand their holding an empty bag while the media says the Republicans are only for the rich.


7 posted on 11/28/2012 9:24:24 AM PST by blueunicorn6 ("A crack shot and a good dancer")
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To: Republican Wildcat

Why not $498,564.34? That seems more reasonable.


8 posted on 11/28/2012 9:25:11 AM PST by mykroar (BAD-ANON: One Game At A Time)
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To: Republican Wildcat
I say Let the Democrats have what they want.

Republicans should announce that they will NOT oppose a tax increase.

But they should name the bill something like "ObamaCURE - a bill to solve all the country's problems."

But when the vote comes up, every Republican should vote PRESENT.

As soon as the Democrats realize that the upcoming fiscal collapse will be blamed entirely on them, they will quickly change their votes and the thing will be defeated.

9 posted on 11/28/2012 9:31:56 AM PST by eCSMaster (2012 elections: American Coup d'etat!)
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To: Old Sarge

Congradulations. I tried to get out years ago. Not in the cards I guess.


10 posted on 11/28/2012 9:32:22 AM PST by MachIV
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To: Republican Wildcat

I have ended all Charity donations I have made for years. When they call I simply tell them look, the American people believe this should be government funded and since I already pay more in taxes I will leave it up to the government to fix.

Please contact them for your share.


11 posted on 11/28/2012 9:42:46 AM PST by edcoil (It is not over until I win.)
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To: spawn44

How about we increase the taxes on all government employees making over $100,000 year. That ought to take care of the problem.

Good idea...we never hear about that kind of talk do we.


12 posted on 11/28/2012 9:44:51 AM PST by sanjuanbob
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To: Republican Wildcat
$86 trillion in unfunded liabilities Which is more money than exists in the entire world

here is one way to collect it: Doorbell a 'ringin...

13 posted on 11/28/2012 9:53:37 AM PST by C210N (In favor of private rights and public happiness)
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To: Republican Wildcat

Mandatory spending cuts.LOL he’s high.


14 posted on 11/28/2012 10:26:39 AM PST by Vaduz
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To: Republican Wildcat

Glenn Beck said it this morning... 16 TRILLION dollars in stacks of one dollar bills would reach from Earth to the Moon and back again... TWICE!

LLS


15 posted on 11/28/2012 10:34:23 AM PST by LibLieSlayer (WOLVERINES!)
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To: MachIV

I wouldn’t wish upon you the route I took. But the end of the trail was almost worth the road traveled.


16 posted on 11/28/2012 10:38:35 AM PST by Old Sarge (We are officially over the precipice, we just havent struck the ground yet...)
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To: Republican Wildcat

GO GALT

it’s the only legal way to stop paying them

(no, leaving the country will still require you to pay, if you can believe that)


17 posted on 11/28/2012 10:56:29 AM PST by sten (fighting tyranny never goes out of style)
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To: Republican Wildcat

Congress person: “Hello? Is this my accountant? I need to know exactly how much I steal, er, earn per year. (Pause) Okay! Then I’ll vote to raise taxes on people making more than that.”


18 posted on 11/28/2012 12:04:46 PM PST by Terry Mross (I haven't watched the news since the election. Someone ping me if anything big happens.)
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To: Republican Wildcat

!


19 posted on 11/28/2012 12:12:51 PM PST by skinkinthegrass (Anger a Conservative by telling a lie; Anger a Liberal by telling the truth....RWR 8-)
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To: Republican Wildcat

Public opinions are nearly all about the tax issue and not much at all about the needed spending cuts. No-vote for 2014! No-vote for 2016, if need be! And personally, don’t spend. Save, and become more self-sufficient.


20 posted on 11/28/2012 12:41:22 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
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To: Republican Wildcat

At least Yawnmouth realizes $250K is going to hurt any (unlikely) housing recovery, given that same range is where the unsold surplus is at. That said, he is a dirtbag.


21 posted on 11/28/2012 12:46:06 PM PST by StAnDeliver (Own It.)
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To: Republican Wildcat

Well, I’m okay with only raising taxes on politicians.


22 posted on 11/28/2012 1:20:39 PM PST by Boogieman
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To: Republican Wildcat

The Republicans are doing better than usual, but will still cave (almost certainly). They need to let the Bush tax cuts expire and then tell Obama it’s all or nothing. No middle ground.

What they DO NOT understand is that Obama will cave. He has to. Tens of millions of his voters (legitimate and otherwise) will want his scalp if the Bush tax cuts expire, and they WILL NOT blame Republicans - who are more than ready to extend them.

...of course the Republicans are TOO STUPID to realize this.


23 posted on 11/28/2012 3:05:40 PM PST by BobL (You can live each day only once. You can waste a few, but don't waste too many.)
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