Fiscal Cliff Deal? Don’t Hold Your Breath [House GOP "more conservative" than last session?]

Time ^ | 11/12/12 | Massimo Calabresi

[SoFloFreeper]

Barack Obama and John Boehner traded opening bids Friday in negotiations over the fiscal cliff. With talks scheduled for the White House later this week and members of Congress back in town, Washington is abuzz with the possibility of a deal. Don’t bet on it.

Obama and Boehner drew the outlines of a compromise less in what they said than in what they didn’t say. The two men failed to reach a deal in 2011 because they couldn’t agree on raising tax rates for the rich. Now they are leaving open the possibility of avoiding the automatic tax hikes and spending cuts set to kick in Jan. 1 by closing tax loopholes instead.

[bert]

———then used them for themselves ———

I would argue the loopholes are mechanisms for securing campaign funds. Those desiring tax relief pay enough to enough legislators to pass the loophole. The loophole gets amended in some manner.

The congress then can get paid again to pass a revised similar loophole.

Loopholes are a renewable resource

[txrefugee]

If the Markers don’t make, the Takers can’t take....at least, not for long. As Margaret Thatcher aptly stated, “ Socialist governments do traditionally make a mess. They do finally run out of other people’s money.” Wise words, indeed. Too bad the USA didn’t heed them.

[mrsmith]

“House GOP “more conservative” than last session”

It is- and it’s about time people realized it. Combined with the successful ‘primarying’ of incumbents this year conservatives have much more strength in the next House, though not a majority yet.

[arthurus]

If Congress doesn’t co-operate he will do it by decree.

[Pollster1]

I hope Boehner will continue to talk softly on “compromise” but will hold a hard line on no new taxes. The federal government is already raising more than 30% more money than they should need. The answer is to cut spending dramatically, and going over the “fiscal cliff” would be far less harmful than continuing our massively wasteful (and often harmful) federal spending. We need to continue the tax cuts for all Americans, including the wealthy, and we need to cut all new spending that has been added in the past 20 years.

[what's up]

Romney proposed capping deductions at $17,000, which would generate $1.7 trillion over 10 years, according to the Tax Policy Center. But that could hit anyone making $100,000 a year or more, whose deductions average $20,000 annually. Obama has called for tax hikes only on those making over $250,000 a year.

Surprise, surprise.

Romney would actually cut loopholes on people making UNDER $250,000. He was going for stricter tax reform than Obama.

But Romney would also have cut tax rates on EVERYONE.

Romney's plan was excellent.