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.
“We’re insisting on keeping tax rates where they are, first and foremost, to protect jobs and because we don’t think government needs the money in the first place,” McConnell said on the Senate floor.
“The problem, as I’ve 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 doesn’t cost jobs and disincentivize rates, as we all know raising rates would do,” he said.
McConnell’s 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 it’s 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 isn’t job creation, they’re 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.”
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.
There’s words, and there’s 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
Wall Street trims gains, volatile after Boehner remarks
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.
FMCDH(BITS)
Amen Annie!
LLS
Here’s a kindred spirit showing the local newspaper his pimp hand today on the subject of governmental `noblesse oblige’:
C**** S*****
Albany
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 won’t 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 don’t 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.”
e-mail:
“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.
I'd like to see someone start a PAC to raise money to get McConnel, Boehner and the rest of those buffoons some testosterone injections
I like that idea. Let the chips fall where they may and then come back in January and truly fix the broken mess that is the federal budget.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.