Skip to comments.First cracks in GOP resolve on tax rates
Posted on 11/28/2012 11:21:45 AM PST by John W
WASHINGTON (AP) The first cracks are developing among Republicans over whether to accept a quick deal with President Barack Obama on allowing the top two income tax rates to expire.
Conservative Oklahoma GOP Rep. Tom Cole told GOP colleagues in a private meeting on Tuesday that it's better to make sure that tax cuts for the 98 percent of taxpayers who make less than $200,000 or $250,000 a year are extended than to battle it out with Obama and risk increasing taxes on everyone.
Cole's remarks are noteworthy because he's a longtime GOP loyalist and a confidant of House Speaker John Boehner, R-Ohio. They were made in a meeting of the House GOP Republican whip team, which is a sounding board for GOP leaders.
"If we don't believe taxes should go up on anybody, why can't we accept a deal that takes 98 percent out and still leaves us free to fight on the other grounds," Cole said in an interview on Wednesday. "I'm not for using the American people for leverage or as a hostage."
(Excerpt) Read more at news.yahoo.com ...
Towers of Jell-O, they are.
It’s the spending, stupid.
I've voted GOP all my life. I will NEVER vote for any GOP candidate again. Ever. And that's a promise.
Aren’t they? We all know they’ll fold.
There will be tax increase. Big ones, on everyone.
There will be no meaningful cuts to the budget.
Both will continue till the war or break up.
At which point we will see just what strong man steps into power.
Sorry, that is what is going to happen. The debt is to big, the State is to big, for any meaningful reform to happen.
I concur. It is coming.
A Leaf in the Wind
This Marxist “progressive” income tax garbage makes me want to puke. What part of the Communist Manifesto don’t they understand?
There are degrees of eunuchs...partially castrated...no cojones whatsover, total wimpoids, and Republican leaders.
Bye bye, Repubs, should you bend over and get “Obama’d.”
I’m off to a different party. Don’t know what it is, but it NO LONGER IS YOU, you b*stards.
There are no cracks. There was no resolve. Or the nature of that resolve was misapprehended.
That didn’t take long.
Well, now there's two of us.
I am telling you, the media is working with Obamugabe to discourage all of us.
This is their only chance to get more people to pitch in on paying taxes. It’s Bush’s fault that 47% don’t pay Federal taxes!
Lose at all costs RINO File.
If you believe that taxes will only increase for those who make over $200,000 per year, than you are in for a rude awakening.
Its the spending, stupid.
There is bukkoo revenue,, they just need to rein the damn spending in .. cutting the rate of the increase in every dang budget is strangling us slowly but surely.
Time to take baseline budgeting, earmarks and capital gains taxes and and estate taxes..kick all of them to the curb..
This nation needs a gubamint committing to grow the nation’s economy, not the size of the gubamint blobocracy instead and a further reach for control of your every bodily function.. or so it seems.
Actually they do hear us, they just don't give a damn.
Taxes are going up. Had Romney been elected he was going to raise them as well. He might have slowed spending growth some. Obama is going to raise taxes and spending with Republican assistance.
Once the higher marginal income tax rates are in place, as well as higher capital gains rates and possibly higher taxes on dividends they will move on to new forms of taxation. We are already seeing the trial balloons floating in the press to start getting the sheeple used to the concept when it is trotted out. Here’s what is coming:
1) Carbon tax. Some of the proceeds will filter to the United Nations to help third world development.
2) IRA and 401K restructuring. IRA’s and 401K’s represent a huge pot of money for the redistributionists to “manage”. The concept will be to roll them into social security and then guarantee the retiree an annuity. Of course, the annuity payment will be below what the retiree would earn in the market over time. Plus when the retiree dies, the remaining funds go to the Treasury instead of heirs, just like the social security money.
3) Wealth tax. A tax on net worth for people with assets over $500,000.
4) VAT. European style hidden “value added tax” that can be ratcheted up every year with out being visible.
5) Transaction tax. This one has been floated before. Charge 1 cent for every financial transaction. Every check cashed, every share of stock bought or sold, every mortgage application processed.
Obama’s goal is redistribution and he’s got 4 years to get it accomplished. Now that the takers have won the election, and we know the tax warfare game now plays for the American people, expect the “soak the wealthy” taxes to come fast and furious, particularly if the GOP House caves on the marginal rates. We know the Senate filibuster won’t act as a brake because Harry Reid is going forward with the nuclear option to eliminate the filibuster.
No doubt the FBI files are being waved in front of a number of Republicans who know if they don’t vote for taxes, their dalliances with interns and questionable personal financial dealings will be exposed. Not surprising Saxby Chambliss and Lindsay Graham were two of the first to fold. Look carefully at each one of the Republicans coming forward to renounce his tax pledge and wonder what information Holder has used to bring him in line. The anti Grover Norquist media spin and the sudden tax conversions are all part of a bigger orchestrated game as is Romney’s upcoming private lunch with Obama. Could it be that Romney will come out of his Obama meeting urging his fellow Republicans to give on taxes for the good of the country? He’d have nothing to lose since his political career is dead.
And the Democrats will gleefully do exactly what they did to George Bush Sr.. Smile and pat the Republicans on the back while praising them for being “bipartisan” and passing tax increases, then turn right around next election and beat them over the head mercilessly as untrustworthy liars for breaking their “no new taxes” pledge. Ask Bush Sr. what compromise with democrats will get you....
As I was walking past the TV (Fox news) I heard that Obama is trying to get the Republicans to agree to a tax increase now and a spending cut later.
I bet they go for it “hook, line and sinker!”