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The GOP says the White House is demanding $1.6T in tax increases up front as part of any budget...

The GOP says the White House is demanding $1.6T in tax increases up front as part of any budget deal, reports the WSJ. The White House also wants the payroll tax credit to continue and a "permanent" increase in the debt limit.
Comments (28)
  • Here comes the Cliff.
    29 Nov 2012, 05:08 PM Reply Like
  • And the GOP will talk tough ... and completely "cave" on everyone of the Democratic demands.


    There are NO leaders in Washington. Just short-sighted, looking out for themselves egomaniacs and their enablers and the "special interests" (from every imaginable corner of spending).


    Whatever happened to "temporarily raising the deficit"?


    Why wasn't that ENOUGH?


    Isn't the government PIE *large enough* already?


    Won't SOMEONE find some efficiencies within EXISTING spending, versus demanding MORE TO SPEND?


    The answers are simple: NO.


    And there is NO accountability, either. Nothing.
    29 Nov 2012, 05:10 PM Reply Like
  • And they're asking for another $50 billion in spending for stimulus, that's sure to fly . . .
    29 Nov 2012, 05:20 PM Reply Like
  • What the hell is a "permanent" increase in the debt limit. Infinite?
    29 Nov 2012, 05:22 PM Reply Like
  • That is exactly what it is.
    29 Nov 2012, 07:09 PM Reply Like
  • How about we let the Republicans tell us what the Republicans want to do, and the Democrats tell us what the Democrats want to do, and see whether there's an agreement before jumping all over one another.


    Too simple?
    29 Nov 2012, 05:22 PM Reply Like
  • Agreed. It'd be nice to see some actual information and analysis -- you know, the kind of stuff that can't fit in a tweet.
    29 Nov 2012, 05:47 PM Reply Like
  • Dana,
    Unfortunately I think we know what the Democrats want to do and this "proposal" is right in line.


    1.6 Trillion in new taxes and THEN we'll start talking?


    What this is really about is our freedoms and liberties. Our government is far far too large. No individual could come close to knowing what all the different agencies and departments are supposedly doing. And these government agencies/departments have increasing power to tell Americans what to do and even take what we have. More tax dollars just means even more bureaucrats which means less and less freedom and liberty.


    It is mind-numbing that the President doesn't simply make a common sense proposal to restore some fiscal sanity. Something like raising the retirement age for Medicare/SS, Cleaning up the disability rolls, further reducing defense spending, and pick some department/agencies to consolidate. In return propose the Clinton tax rates for high earners and capital gains, limit mortgage deductions to homes under 500k and no second homes, get rid of some corporate loopholes and a promise from Republicans that tax reform will take place in 2013 and the code will remain progressive.


    What's so difficult about that? He can go to his supporters and point out Obamacare remains. SS benefits and Medicare benefits aren't changed and he's socking to to the "rich". Republicans could go where with that proposal??? They'd cave and agree.


    What this shows is how pathetic our "leaders" in Washington really are. Our process drives away those with true leadership and we are left with those that put up with the process out of their own personal interests. Boehner, Obama, Reid - seriously? Thats the USA's best?


    A deal should take about 1 hour to put together. Unfortunately that about how long it should take to balance the budget EVERY year and we've seen how that doesn't happen.


    I'm at the point where going over this cliff is fine with me. I'll choose freedom and liberty over all else. In fact, lets then set up the next cliff for next year's raising the debt ceiling - only have this one with 2 Trillion in government cuts.... if we have enough of these we might inadvertently start restoring liberty across the land!!
    29 Nov 2012, 06:08 PM Reply Like
  • Indeed, we need the cliff more now than ever. It is the only thing left that will save us. Any agreement to go along with these democrat monsters is national suicide.
    29 Nov 2012, 06:37 PM Reply Like
  • Hate to tell you this, but Howard Dean said nearly the same thing last night, arguing that the cliff is the best deal progressives could get, and that we need to make a down payment on the deficit.
    30 Nov 2012, 08:30 AM Reply Like
  • Great - sounds like bi-partisianship!!!


    And lets set up the $2 Trillion spending cut cliff for July 1st!
    30 Nov 2012, 01:44 PM Reply Like
  • Actually Dean has always been anti-deficit. Most liberals are, in fact, anti-deficit. Look at the record of the government under Clinton and Bush. Or Carter and Reagan, for that matter.


    Conservatives convince themselves of lies and then are surprised when the rest of us don't believe them.
    30 Nov 2012, 02:16 PM Reply Like
  • Dana, your better than the simpleton lines of comparing Clinton and Bush and Carter and Reagan.


    Clinton has to share credit with Gingrich and the "right-wing" Republicans that forced him to scale back some government and keep spending increases to a minimum.


    Bush is no conservative IMO and I'd compare his presidency to Carter in terms of poor leadership. Bush's mistake was twofold. One - he picked very poor people to surround himself with. They led him into Iraq and then convinced him it would be easy. Disaster. Two - He NEVER asked the American public to sacrifice for the coming military action post 9/11. That is something that still upsets me to this day and it was a total abdication of leadership.


    So in comparing Clinton - Bush your actually comparing real conservatives in Congress with Clinton - to a Big Government lover in Bush (and lets face it a poor leader).


    In terms of Carter/Reagan. Lets look at how Reagan spent money and the outcome - ie he ramped up military spending and directly confronted the USSR. I think that turned out pretty well. He and the Dems in Congress did manage to reform SS to extend the program for a few decades. He gave Volker the cover to attack inflation - and that worked out pretty well. Out of kindness I won't go through the disasterous Carter years and merely summarize that you can't name a single successful thing he did outside of Camp David and getting the Egyptians and Israelis to stop killing each other.


    What I can guarantee you is that if I - myself - was magically in charge we would have a balanced budget next year. Government bureaucrats would be pulling in 30% less. They would pay far more for their health care and pensions and if they don't like it - tough - quit. There would be fewer agencies - consolidation would take place and headcount reductions would be rampant. We would close a large percentage of our overseas military bases and spend at least 1/3 less within 3 years - and we'd buy less military hardware - pay to keep developing but buy far fewer. And the retirement age for SS and Medicare would increase. And we'd fix the tax code - zero deductions with a three tiered flat tax to keep it progressive. And we'd clean out the disability rolls - its become an early retirement program and is a joke.


    And thats the easy stuff - after that I'd spend the rest of my time attacking health care and education.
    30 Nov 2012, 02:34 PM Reply Like
  • I am with you on your solution...that is exactly what has to happen...but unfortunatly it will not...I do not know exactly what will happen...but Government will not make it simpler...nor cheaper...I think Obama wants the Socialist Empire...everyone works for the government...and he is king...a France squared so to speak...just don´t know how its going to i am sitting on the sidelines....I will not hire anyone nor will I start anything new....killing innovation
    3 Dec 2012, 07:53 AM Reply Like
  • Porque vive Ud en Colombia? Somos estadounidenses aqui .... y patriotas
    3 Dec 2012, 08:36 AM Reply Like
  • Enjoy going Galt. I'm going to make money on it.
    3 Dec 2012, 08:56 AM Reply Like
  • Good people..great more or less...beautiful women...good health care...recreation...mas mas y mas
    4 Dec 2012, 09:00 AM Reply Like
  • our leader must wake up every am and the first thing he thinks about every is "how can i raise taxes"
    29 Nov 2012, 06:47 PM Reply Like
  • This is a disaster, and the futures and post-market trading reflects that.
    29 Nov 2012, 07:10 PM Reply Like
  • Yep...lets go over the cliff...the Republicans will be blamed for it..but in a year or two..they will see what the Democrats have done to this country..if they have not its not worth fighting for
    29 Nov 2012, 09:13 PM Reply Like
  • Its sad youngman. Obama and company just jammed the gas even harder to drive off the cliff. And if we go off of it, they'll blame Boehner and the obstructionist Republicans, and the media will back the Dems up since they're their lap dogs. Yet, if the Republicans capitulate, it'll be the end of the party, and the US as we know it. Getting rid of the debt ceiling permanently? Our government with unlimited borrowing power is scary.
    29 Nov 2012, 09:29 PM Reply Like
  • Seriously, bbrady is right. Obama is jamming the pedal hard for the cliff and we really should oblige our enlightened leader, it is what he wants after all. Even the Fed won't be able to "paper-over" the result and we will slowly rebuild (it won't be the first time it's happened in history, nor the last).
    29 Nov 2012, 11:16 PM Reply Like
  • I am with you.....I think more people are on the right seeing it too....the producers will the meantime..they will lay off people...move things offshore..move to states more Conservative..Survive the socialist tidal wave....until it crashes on the beach and destroys all the beach chairs...then the producers can come back in and rebuild it.....if not..they family came to the USA in the 1880´s to get away from their country.....there will be new growth countries....
    30 Nov 2012, 08:39 AM Reply Like
  • The USA might have unlimited borrowing power...but the rest of the world will not let them get away with it....I think you will see the US dollar fall from grace faster than it is now....very fast....then the chaos happens....
    30 Nov 2012, 08:42 AM Reply Like
  • The rest of the world will have no choice. Unlike individual countries in the Eurozone, we have a printing press, and can crank out dollars as fast as we want. We think China is a currency manipulator? Watch the US.
    30 Nov 2012, 09:35 AM Reply Like
  • The tax increases ALWAYS come first. The spending cuts occur later, in an alternate universe.
    30 Nov 2012, 06:11 AM Reply Like
  • David, you have to think about it the Democratic way. If they are increasing spending by 10%, well, they could have increased it by 20%. But since they didn't, they consider that a 10% spending cut. Voila! Spending cuts!
    30 Nov 2012, 07:56 AM Reply Like
  • Actually I apologize, the moderate Republicans do that too. I think just not quite to the same degree.
    30 Nov 2012, 07:57 AM Reply Like
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