Obama promotes tax agenda, Congress in stand-off

Comments (17)
JohnnyRacer wrote:

McConnell – somebody should have put that blow-hard “gobbler” in a deep fryer for Thanksgiving….

Nov 27, 2012 1:58pm EST  --  Report as abuse
Duffminster wrote:

Here is the type of straight forward fair plan that neither side will even consider. Average Americans can agree on it but can politicians beholden to unlimited campaign spending and rigid lock step mentality and political theocracy of group conformity designed by their cynical Machiavellian propagandists like Norquist, Rove and their army of AM talk show, religious and mainstream think tank trained shills? Apparently not.

A Simple plan to secure Social Security and Medicare and reduce the Deficit without hurting the most vulnerable:First of all extend the limits on SS and Medicare contributions because right now the rich pay a vastly lower percentage of their income to these programs than the middle class and poor. I believe the cap on taxable income for Social Security is $106,000. So, someone making a $250,000 is paying less than half the percentage rate as someone making $50,000. Also, stop I would also lower the corporate tax rate substantially but cut out all the legalized corruption in the tax code that Enables many Hugely Profitable Companies to end up Paying No Corporate Income Tax. Our corporate tax code is worse than Swiss cheese but the printed top rate only hurts small businesses who don’t have the benefit of armies of accountants and lawyers to exploit the corrupted tax code.This should be followed up by the following simple changes:

1. Cap deductions, raise marginal rates on the high income earners.

2. Put capital gains tax on a progressive scale.

3. Cut out subsidies to established profitable industries like oil, gas and coal.

4. Drop subsidies for corn to ethanol conversion and other boondoggles.

5. Cut military spending.

6. Have zero income tax on start up corporations (meeting specific standards, business plan, etc.) and provide zero interest loans backed by the Fed for all well vetted start up companies and maintain financing them for a period of up to 3 years based on established revenue growth bench marks. Lets do something to create jobs in the tax code. And also, huge tax incentives to bring factory and service jobs and money home. This has to do with cutting the top corporate tax rate and cutting out loopholes that make exporting jobs so profitable.

We also need to require that these giant multinationals pay taxes on profits they are making over seas and not allow companies to move their head quarters to the Caymans and pretend they are not primarily US corporations.

Finally, our power grid is a joke and even more than highways and bridges, we need to rebuild our power grid and that could be a source for billions in new jobs and associated revenues while bringing our power grid into the 21st century.Finally, we need to allow collective bargaining for Medicare and Medicaid and the new Affordable Care law. If all these programs could negotiate for pricing on all health services and products, including the part D drug benefit, the people of United States could save hundreds of billions over time.Then again, with the unlimited money flooding in under the corruption installed by the corrupt Supreme Court in their decision on “Citizens United vs. the Federal Election Board”, which should have been called “Lobbies United Against Democracy in the United States” we can expect either party to get behind common sense legislation that puts fairness and the long term well being of the People of this nation first. Its up to us to lobby for common sense. The age of the Public Citizen has never been more clear. – Duffminster

Nov 27, 2012 2:08pm EST  --  Report as abuse
ThomasShaf wrote:

In my opinion nothing should be done. The country has just said enough of our own Congressmen holding the economy down. All Americans have been sujected to the election and media saturation. Let the Bush breaks expire and in January reinstate the middle class tax breaks separately. The Republicans see the “midterm elections” as a horror event with respect to loss of party Representatives. They will capitulate to save their seats, or try to save them – I predict a rout. The Republicans have lost the moral high ground. Americans know it. The country will survive just fine. Don’t put too much effort into getting the Republicans to compromise – they have to Mr. President.
Thomas E. Shafovaloff

Nov 27, 2012 2:27pm EST  --  Report as abuse
JoeObserver wrote:

The recent US election has exposed the bitterness between two parties. Republicans are angry by the negative campaigning (by the democrats). Many people believe bipartisanship is the thing of the past.

Nov 27, 2012 3:20pm EST  --  Report as abuse
skyraider254 wrote:

McConnell and Reid both need to go. They represent the worst in Congress. They think it is all about politics. Actual governing is way down the list.

Nov 27, 2012 4:22pm EST  --  Report as abuse
SayHey wrote:

Leading Democrat says Medicare and Medicaid should not be part of the negotiations? Could anything be more bizarre? Maybe not if your only reason for existence is more government and more taxes. Reformation of these programs is essential, before they consume the entire economy, if there is to be any rise in taxes.

Nov 27, 2012 4:26pm EST  --  Report as abuse
plainAZtruth wrote:

The Republicans already compromised – they agree to tax the rich, they prefer to do it with limits to deductions rather than marginal tax rates, since increasing marginal tax rates on the businesses that generate 40% of the jobs will reduce jobs. Why can’t Democrats accept victory and start addressing the real Medicare insolvency problem? Does the White House want higher rates because they want to hurt job creation? Or does the White House like deductions as a way to control the economy through, is that really why they won’t accept victory?

Nov 27, 2012 4:52pm EST  --  Report as abuse
Vuenbelvue wrote:

Obviously, James Baker, didn’t do a blood pledge to the lobbyist Grover Norquest. The term “Fiscal Cliff” was coined by Senator McConnell, I believe, and a real description may be “Fiscal Slope”.
There may be no need to make a bad deal with this 10% approval rated congress and just wait until next year when the new congress convenes.
From Newsmax:
Both spending cuts and tax increases should be implemented to cut the budget deficit, with an emphasis being placed on cuts, says James Baker, Treasury secretary under President Ronald Reagan.

“Any grand bargain will have to include spending cuts and revenue increases,” he writes in The Wall Street Journal. “The negotiations shouldn’t be preconditioned — everything must be on the table, including the possibility of cuts to entitlements and defense.”

Read Latest Breaking News from Newsmax.com http://www.newsmax.com/US/tax-cuts-spending-cliff/2012/11/16/id/464424#ixzz2DSi3YArl

Nov 27, 2012 4:53pm EST  --  Report as abuse
foiegras wrote:

My Medicare premiums just went up 40% (got the letter today). So (to Say Hey, et al) Medicare is definitely on the table whatever half truths are being projected about the Democrats’ positions. The problem – the same old problem – is the 2% swindling the 98% with the help of their paid agents in Congress (McConnell, Cantor, keep going), while the suckers in the good old USofA keep cheering them on. Go Oligarchy!

Nov 27, 2012 5:01pm EST  --  Report as abuse
Adam_S wrote:

JohnnyRacer you took the words out of my mouth.

LOL, sitting down w lawmakers, says the guy who’s bloviated for four years about how his number one job (as opposed to um, crafting legisilation and um, meeting with people) was taking Obama down.

Time to reassess your roadmap, Angry Grandpa McJowls.

Nov 27, 2012 5:06pm EST  --  Report as abuse
flashrooster wrote:

Duffminster & ThomasShaf: Good posts. It would behoove our government to employ the kind of common sense you both are displaying. If only…

Something has happened to the party of Lincoln. They’re no longer the party of conservatism. Conservatism has been absorbed by the left, a result of the Republican party pulling the entire country further and further to the right. Today’s Democratic party looks more like the GOP of old than today’s Republican party does. Tax rates championed by the Democrats are actually considerably lower than our historical average. The Democrats preference to keep government out of our personal lives used to be a tenet of the old Republican party. Even Obamacare is a conservative approach to healthcare reform. The only other viable approach in today’s political climate is to do nothing with our healthcare, and that is the most radical thing of all, and stupid.

I don’t pretend to be able to explain what exactly has happened to the Republican party, but CLEARLY it’s no longer serving the interests of the United States of America. I feel like they’ve been so overly focused on the political end of things that they’ve forgotten that their primary purpose is to govern. To become relevant again they’re going to have to undergo some serious changes, and so far they seem to be content to remain in denial and continue their madness. It’s up to the rest of America to come together and get things done without them, or despite them.

Nov 27, 2012 5:18pm EST  --  Report as abuse
flashrooster wrote:

plainAZtruth: Obama is insisting on a rate increase because agreeing to raise revenue by closing loopholes is too nebulous of a way. We need to have some idea of how much revenue will be increased. But just agreeing to close some loopholes gives our government no reliable estimates to build a budget on. Personally, I like Warren Buffet’s idea of putting a minimum tax on the rich. That way a bottom line is always met, regardless of the tax tricks they use to avoid paying taxes.

The Republicans have proven themselves to be untrustworthy again and again, so they can’t be trusted. Any political party that pledges allegiance to a single lobbyist clearly isn’t putting the interests of the nation first. If we don’t have a minimum tax, like Warren Buffet is calling for, then we should close loopholes and raise the top tax rates to Clinton-era rates. Raising the top tax rate to 39.6% is reasonable and will not hurt job creation or investment. There have been enough studies on this to back it up, but more importantly, our history proves it to be so. Our economy boomed when taxes were as high as 91%, but Obama is merely wanting to raise the top tax bracket to where it was under Clinton, when we experienced the longest economic expansion in our history. It’s time for Republicans to step up to the plate. They’ve been getting their way on everything for far too long and our country is suffering because of it.

Nov 27, 2012 6:24pm EST  --  Report as abuse
AlkalineState wrote:

GOP tantrum = Bush tax cuts expire automatically in January.

So this is a good thing. The fiscal cliff is not a cliff. It raises revenue and cuts spending. Let it happen.

Nov 27, 2012 7:38pm EST  --  Report as abuse
kevin2ia wrote:

BO, the empty chair, strikes again. Rather doing any real work, since he is completely clueless what this might be or even look like, he plays party host. We truly are a leaderless country. Nicely edited, out of context, comments from business owners. It is amazing how these comments “align” with the president’s failed objectives.

Unfortunate how the turd, Harry Reid, keeps floating back up to the top of the tank to add his babbling diatribes. If we go other the fiscal cliff, it is the responsibilty of both parties, not just Republicans.

Encouraging to see Dick Durbin to say something approaching reality, however, he quickly, again, lost his senses and took back everything he just said.

Embrace the horror.

Nov 27, 2012 8:41pm EST  --  Report as abuse
PPhermit wrote:

Obama will go to to people for support and not the lawmakers that has voted no for everything that had Obama’s name to it. Law makers doesn’t like what the majority of our citizens is wanting If he goes to the people the Tea baggers will lose more seats in 2014 The people is wanting the weathy to pay a bit more and the teabaggers refuses to do the wishes of the people . Kevin go get a brain transplant.

Nov 27, 2012 9:47pm EST  --  Report as abuse
PPhermit wrote:

Obama will go to to people for support and not the lawmakers that has voted no for everything that had Obama’s name to it. Law makers doesn’t like what the majority of our citizens is wanting If he goes to the people the Tea baggers will lose more seats in 2014 The people is wanting the weathy to pay a bit more and the teabaggers refuses to do the wishes of the people . Kevin go get a brain transplant.

Nov 27, 2012 9:47pm EST  --  Report as abuse
hotmess wrote:

The federal government ended fiscal year 2012 with a $1.2 trillion deficit. Obama is proposing $1.6 trillion in new taxes over ten years, or .16 trillion a year. And his proposals for the other $1.04 trillion would be???? I don’t call that a plan. I say let’s embrace the fiscal cliff. If you got to eat a turd, better to choke it down than to nibble on it.

Nov 27, 2012 10:06pm EST  --  Report as abuse
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