Skip to comments.McConnell slams the door on raising tax rates in deficit deal
Posted on 11/29/2012 9:26:30 AM PST by Kaslin
Senate Republican Leader Mitch McConnell (Ky.) slammed the door Thursday morning on Democratic demands to raise tax rates on families earning more than $250,000 per year.
Were insisting on keeping tax rates where they are, first and foremost, to protect jobs and because we dont think government needs the money in the first place, McConnell said on the Senate floor.
The problem, as Ive said, is that Washington spends too much. But if more revenue is the price that Democrats want to exact, then we should at least agree to do it in a way that doesnt cost jobs and disincentivize rates, as we all know raising rates would do, he said.
McConnells comments came a day after Speaker John Boehner (R-Ohio) shot down a proposal by a senior GOP lawmaker, Oklahoma Rep. Tom Cole, to agree to extend tax rates only for families earning below $250,000 and resume the battle against higher tax rates on the wealthy next year.
Boehner said President Obama and Democrats should focus on finding ways to cut spending and reform entitlement programs.
The fate of the Bush-era tax rates which will expire for all income levels in January has dominated the debate over the slew of tax increases and spending cuts that are set to begin next year.
McConnell scolded the president Thursday for sticking fast to his campaign pledge to seek higher taxes on the rich, and made clear that raising tax rates on anyone is unacceptable.
The longer Democrats keep saying it, the longer its going to take to come up with an agreement, he said. The only reason Democrats are insisting on raising rates is because raising rates on the so-called rich is the holy grail of liberalism.
Their aim isnt job creation, theyre interested in wealth destruction, he said.
McConnell warned that raising rates would discourage people from working and investing their money. He said dual-income households would be especially affected, as married women thinking about entering the workforce would have a powerful disincentive.
He noted Republicans have proposed capping tax deductions by reforming the tax code and argued that would be a better path because it would broaden the tax base.
McConnell said restructuring tax deductions would probably have a smaller negative effect or even a positive effect on the amount of labor supply.
There’s words, and there’s deeds.
At last, some backbone. Hopefully it holds. Bring Congressman Tom Cole to the wood shed.
The Dems have already said any spending cuts will happen way down the road.... NEVER
Obama just wants the trophy
Deny Obama a Participation Trophy
which is why Harry Reid wants to scrap the filibuster
More Kabuki theater from the Party of Surrender.
Durban the Turban said no spending cuts,too just 2 days ago.
Embrace the cliff- “let’s move”
When did it become universally accepted that the purpose of government is to create jobs?
freezing tax rates at today’s high levels during this expanding recession is not good news, its crazy
we need a substantial tax CUT (even Keynes said so!)
ps: freezing tax rates while eliminating deductions is just s sneaky way of RAISING TAXES! That’s like giving the economy poison instead of medicine
when will the R congresscritters show even a tiny little bit of courage? we’re tired of having them sell out America all the time
BANG! Dead on target, IMO.
McConnel, Boehner, are word class spelunkers. (cavers)
Having a hard time imagining a priss like Mitch doing anything that would remotely make a slamming noise.
There should only be a deal if the Dems will state exactly what cuts will happen THIS YEAR. Not 5 years from now, not 10 years from now, THIS YEAR.
If there are no cuts on the table this year, then tell the Dems to take a hike.
Thanks to "budget reconciliation" -- which cannot be filibustered -- Reid doesn't need to change the rules to gain passage of tax legislation.
The so-called "Bush tax cuts" were passed under budget reconciliation, with a simple majority vote, so they can be renewed (or changed) without facing a filibuster.
Propose a middle class tax CUT!
Levin said last night they should vote to lower both middle rates by 10% and just send it to senate. Let Dingy Harry say no.
But tax legislation isn't the end game, it's Supreme Court nominees. So they'll use this little impasse to change the rules and then, down the road, shove a few more Ruth Bader Ginsburgs down our throats.
Bottom line .. we're screwed.
It might just help stiffen his spine.
Attn. all GOP House Members. This should go without saying but you obviously need to have it said! Not one of you was elected to go to Washington to raise taxes! Not. One. Of. You!
In total agreement. Let the free fall happen, then pick up the pieces. Let the smoking wreck at the bottom of the cliff be the liberal legacy.
“Theres words, and theres deeds.”
Let’s hope that McConnel has some spare backbone and cojones to donate to Rep Bonehead (the follower of the House.)
Democrats operate like this
They propose to increase agency budgets and earmarks and pork programs by 10%
then, if they drop back to increasing them by “only” 9%, they claim the 1% difference as a CUT and merrily spend 9% more than last year!
I just wish the crooks greedy azzholes and incompetents who couldn't even park a bicycle (ever heard a speech by Louise Slaughter?), who serve in both parties in Congress, would STOP kicking the can down the road - in my lifetime
This obviously has to end...badly
The entire Republican Congress, (House and Senate) plus 95 of the rats in both houses could oppose the tax increases, which wouldn’t matter to that arrogant pos occupant of 1600 Pennsylvania Ave and dingy Harry Reid
McConnell is not to be believed or trusted. Let us remember that it was his idea to increase the debt ceiing automatically. He’s in cahoots with Reid and Schumer.
The House should adjourn for the year. We would hear screams across Washington. We’re all told that we must act by December 31st. But the House reconvenes on January 4th. Let the tax cuts expire. And the unemploment extensions. Let the people get a good look at their paychecks (or lack of them) when the president is re-inaugurated.
The entire Republican Congress, (House and Senate) plus 95 of the rats in both houses could oppose the tax increases, which wouldn’t matter to that arrogant pos occupant of 1600 Pennsylvania Ave and dingy Harry Reid. He wants to shove the tax increase the peoples throat, just like he did with 0bamaCare
Doors have hinges, and the GOP is the oil for the squeaky one.
I agree. We do not have a revenue problem, we have an out of control spending problem.
My point is that until there are real cuts on the table for spending this year, there is nothing to even talk about.
“Propose a middle class tax CUT!”
“Middle class”, like “taxpayer”, has become code for “white”; don’t hold your breath waiting for a tax cut.
Eggs are tapered so a chicken’s butt doesn’t slam shut. The same thinking may apply here. I think an egg is about to be laid on the taxpayers.
He should add... a why do we call what is going to happen a fiscal cliff? Everything the Democrats want to happen is going to happen in January: Return to Clinton era tax rates; automatic cuts on everything but entitlements; Obama Care. Why is this the Republican’s responsibility to fix the perfect storm the Democrats created. Answer, because the GOP has no strategy and no discipline. The GOP should point out that everything that happens in January is the design of the democrats and affirmed by the voters. If the public wants something different, speak-up...
Arrogant as you can see, climbed in politics due to his mother's political career. Actually has not accomplished much on his own, except become a Congressman.
Not in my district, so I can't do anything about it.
If we are going to get BLAMED anyway for everything, let it rip NOW. call their damn bluff.
Demand the Spending CUTS, take Sen. Coburns wasteful spending list, and Aid to our Enemies list, and put the entirity of it on the table, otherwise NO DEAL.
If they did all that, the need to put entitlements on the table would be NIL.
No elections for 2 more year,now is the time to take the heat and get over it.
It’s been a long long time since I was in school but isn’t this just kabuki theater? The House funds the programs, right? So why don’t they just say that unnecessary programs in 2013 will not be funded period. End of spending!
I like that simple solution, and why not?
So long Reid, call us when you want to talk. I like it.
Just thought of something: He who holds the purse strings has the upper hand. That’s what I do in my house, nope ain’t gonna buy nonsense you wants.
Those taxes go up automatically, Obama doesnt need you to do that Mitch.
What McConnell avoids is what he will do after they all go up and Reid puts another bill up for a vote that just cuts taxes for income under $250K. And another for FICA extension.
On record Vote against tax cuts ? I still remember Bohner tried something like this exactly a year ago (without the actual vote) and it was pretty ugly, and humiliating when they caved.
We need to insist on a signed law defining spending cuts before we even agree to talk about anything else - The Dims will promise anything and then default. I wouldn’t even allow spending cuts to be part of the overall bill/law - no telling what tricks they’ll use to erase them.
I wonder why the stock market is up today. Maybe going over the so called fiscal cliff is not a bad thing. Out of control spending is worse than going over the cliff.
A Republican with a pair. Who knew? But as you say.
Theres words, and theres deeds.
The deeds are what counts here.
You're talking entitlements, right?
If you do this watch how fast we lose our majority in 2 years. Then Dems get elected and the programs go right back in.
You need a bi-partisan agreement to reform entitlements unless you want us to lose all power in DC. That's just how it is.
However Speaker of the House John Boehner poured cold water on the idea
The DOW is currently up 48.44
I don't know what it was this morning
McConnell and Bonehead have no history of standing firm.
In fact, it’s hacks like these two, past and present that have
brought us to the brink.
This is a one party "good cop-bad cop" nation now, and there's not a damn thing we can do about it.
I will not be voting (R) anymore.
Here’s a kindred spirit showing the local newspaper his pimp hand today on the subject of governmental `noblesse oblige’:
I am writing in response to the editorial on Tuesday. In this editorial The Star Press refers to the Indiana income tax credit refund as a gift. It also states that this gift will add up to about $360 million the state wont be able to spend.
I think to take these positions, one has to have these beliefs: 1. That all money first belongs to the government, and what we are allowed to keep was not ours to begin with, but only what we are permitted to have. 2. That government knows better how to spend money than we do. I dont agree with these beliefs.
This refund is not a gift. It is our money. The state of Indiana is not a government that gives away cash.
When government takes in more money than it actually needs, it is only right that they return the money back to its rightful owners: the taxpayers.”
“1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.
2. What one person receives without working for, another person must work for without receiving.
3. The government cannot give to anybody anything that the government does not first take from somebody else.
4. You cannot multiply wealth by dividing it!
5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end of any nation.”
Government produces nothing, while President Urkel’s father wrote, “It is theoretically possible to tax people 100%,” so that a guy who uses dreams from his father as a blue-print believes that government can take everything.