Skip to comments.White House weighs smaller fiscal cliff package
Posted on 12/21/2012 12:50:52 PM PST by ColdOne
So the White House is turning its focus to a smaller package that would extend the Bush-era tax rates on income below $250,000, pause the across-the-board spending cuts known as the sequester and renew unemployment insurance benefits, according to senior administration officials.
It would hold off a significant portion of the fiscal cliff, minimizing any economic shock in the new year. But it means a host of tax provisions would likely expire, little would be done to address the debt and deficit, and no process would be set up for overhauling the tax code next year. There would be no agreement on entitlements, and none on raising the debt ceiling.
(Excerpt) Read more at politico.com ...
just kicking the can a little farther down the road
That can is getting bigger and bigger to kick down the road.
can road kick (repeat)
Awww........ Are those “Evil” Republicans playing grinch again and not giving the wanna be boy king all his Christmas Presents??? Poor barry will have to just take solace in spending several weeks in Hawaii in luxury...
No spending cuts and a tax hike on $250k+ earners? Isn’t that what the Kenyan wanted all along?
>>So the White House is turning its focus to a smaller package that would extend the Bush-era tax rates on income below $250,000, pause the across-the-board spending cuts known as the sequester and renew unemployment insurance benefits, according to senior administration officials.
So, to sum up, package has lots of tax increases, no spending cuts, plus more welfare spending. And the media will spin this as a “reasonable compromise”.
They want unemployment extended. That’s their constituency. Watch them get desperate now that conservatives have put their foot down (desipte their feckless leader).
We will see a lot of this chaff coming out of the White Hut now that the deadline is almost here. It’s all a distraction and we are headed over the cliff.
The Democrat tax increase on those with 250k and above will NOT increase tax revenues to the treasury or improve the economy.
Lets see this would tax the hell out of everyone making over $250,000, Pause the spending cuts which means no cuts to entitlements, and extend unemployment which is already extended far beyond what it should be. At what point does unemployment become welfare?
Well damned straight Obama would like this. It’s what he wanted all along. It doesn do anything to solve the debt problem , just places us further in debt.
The House has gone home, he is a day late and a dollar short , plus the Hpoue Repubicans would not agree to this anyway. Of course the Senate will agree to anything Dirty Harry tells them to.
Have a nice time in Hawaii Obama, you scumbag, while people in New York are still without homes. You dirty Piece of slime.
Of course. The vote last night gave him cover to propose this.
???? $250K, isnt that smaller than $1M ?
What’s he up to?
Hmmm...going off El Capitan instead of Glacier Point I guess...Pulverization factor hitting the ground will be less I suppose...
Both total wipe outs - one just less of a total wipe out than the other - kind of like being less dead one way than the other...
So those dumb super-conservatives are going to get high taxes above $250K instead of $1000K. No wonder it is called “the stupid party”.
How is this “smaller?” This “offer” hasn’t budged one inch from what’s been on the table for months. Leave it to politico to call it “smaller.”
Exactly what Obama wants. Tax more/ spend more.
Hint: It’s not about the revenue. Zero said that himself. It’s about “fairness.”
Next time you talk about tax policy with a lefty, ask him what the purpose of taxes is. Raise money? Redistribute income? Things will get interesting then.
‘He is disappointed that Republicans refuse to say ‘yes’ to all his concessions.’
‘He is optimistic that they will eventually do the right thing.’
‘He is sad that they put politics ahead of the American people’
His plan is to completely annihilate Republicans in congress so his last two years he can get the real ‘reforms’ passed.