Top congressional leaders of both parties, eager to avoid the “fiscal cliff,” are beginning to show signs of willingness to compromise on the thorny issue of raising taxes on the wealthiest Americans as they prepare to meet President Obama on Friday at the White House. Republican leaders on Capitol Hill this week said they are willing to talk about increased government revenue from closing down tax deductions and loopholes, while Democrats including Mr. Obama and House Minority Leader Nancy Pelosi have signaled willingness to concede on raising the top income tax rate back to 39.6 percent. “We are open
Dear Leader has his mandate, better to begrudgingly let him have his way on taxes, and in-so doing take ownership of the economy than to be obstinate, be labeled obstructionist, and yet preside over significant tax increases already set in place that will take effect automatically if no agreement is reached. To maximize political benefit, the GOP should not agree with the president, but rather stage a walk out in protest when the bill comes up.
The political cost to the Democrats of going back to ALL the Clinton tax rates AND reducing the expenditure on entitlements is far higher than the political cost to the GOP. Plus the cast of Democrats has proven that they will lie to the people with the full backing of the press. Make them own this. They put time limits on the tax extensions and proposed sequestration. The economy will tank and not recover and the people who voted for Obama will want to know how he will fix this.
Deja Vu...the Dems will haggle the Repubs, milking every last economy killing drop of blood they can possible squeeze out of them, come to an agreement, and then Pelosi will whisper in Obama´s ear, and the Dems will demand yet higher taxes and less cuts. This will stab John Boehner in the ol´ kazoo, once again, the deal will fall through. MSM will blame the Republicans for pulling out of the negotiations. It´s a win-win for the Dems. The military will be gutted, and even though entitlements will be gutted, too, it´s just a process. The Dems can promise more entitlements, as is they´re normal modus operandi, to get re-elected.
Guess what? Schumer and demonrats already have a plan to spend any additional revenue coming in on taxing the so-called rich of $200,000/single and $250,000/family. Their eyes foresee another stimulous, keeping the payroll tax low (thus ensuring SS´s collapse sooner rather than later), and job training (probably to prepare workers for the perpetual forthcoming part-time job market). This additional revenue will NOT go to paying down the debt. So far, no cuts on any spending whatsoever. Why am I not surprised? Republican politicans fall for this BS each and every time.
This is about breaking the republicans back on one of their party´s main selling points.The dems will actually use attack ads on GOPers who caved on raising taxes. they can´t be trusted to keep their word.
This tax increase is roughly double Obama´s stimulus,spread over 10 years. If that $800 billion did no good,then how is a measly $160 billion a year do any good. The government is already spending $1.5 trillion a more than it´s taking in but that´s not enough to satisfy the left.
Taxes go up, spending cuts never happen. When will they ever learn? No tax increases until real spending cuts, not just reductions in increases, actually occur, and maybe not even then because they won´t be needed because spending is reduced. No I´m not smoking anything, but i can dream, can´t I?
SECAUCUS, N.J. -- Forget about setting up those kegs or buffet tables in the parking lot before this season´s Super Bowl at MetLife Stadium. There will be no tailgating, according to the game´s committee CEO, Al Kelly. "You will be allowed to have food in your car and have drink in your car," Kelly said. "And provided you´re in the boundaries of a single parking space, you´ll be able to eat or drink right next to your car. However, you´re not going to be able to take out a lounge chair, you´re not going to be able to take out
One of Congress‘ staunchest critics of Obamacare released a report Monday that cheers on legal challenges to the overhaul and says the White House overstepped its authority by delaying aspects of the law. Sen. Ted Cruz, Texas Republican who helped engineer a lengthy government funding stalemate earlier this year in a bid to block money for the new health care law, said many aspects of the Affordable Care Act are “constitutionally or statutorily suspect” and that the entire law should be repealed. While a repeal is unlikely so long as Democrats control the Senate and White House, Mr. Cruz said
The nation’s new health-care law says insurers can’t turn anyone away, even people who are sick. But some companies, patient advocates say, have found a way to discourage the chronically ill from enrolling in their plans: offer drug coverage too skimpy for those with expensive conditions. Some plans sold on the online insurance exchanges, for instance, don’t cover key medications for HIV, or they require patients to pay as much as 50 percent of the cost per prescription in co-insurance — sometimes more than $1,000 a month. “The fear is that they are putting discriminatory plan designs into place to
There’s nothing like a communal flight with the current president of the United States and his predecessor to make the press miss the days of a communicative commander in chief. George W. and Laura Bush joined the Obamas on Air Force One en route to Johannesburg, South Africa, for a Nelson Mandela memorial service. Hillary Clinton was also on board, with Bill and Chelsea coming to the service from a Clinton Global Initiative event in Rio. The Obamas have stayed in their cabin for the flight, according to the White House pool report from the refueling stop in Senegal, while
The raft of stories over the last week, the latest being today’s piece in Business Insider, about Democratic Party infighting has nicely illustrated something conservatives have known for a while. Complaints over the last few years about the GOP being pulled to the right by conservatives were not about liberals’ desire to meet in the middle and compromise, no matter how much they might decry the supposed extremist drift of the right. What they wanted was their very own Tea Party. It was the same with Occupy Wall Street: the pseudoanarchist gatherings were far more violent than Tea Party protests
The federal government announced today that it has sold the last of its General Motors stock, about 31.1 million shares or 2 percent of the company, ultimately losing about $10.5 billion on the original investment. The government once owned 912 million shares, or 60.8 percent of GM, which it received in return for the $49.5 billion bailout given to the auto manufacturer during the financial crisis of 2008–09. GM’s stock rose about 1.8 percent, or 73 cents, on the news today. GM’s North American president, Mark Reuss, said that he expects GM sales, especially of pickup trucks, to rise once
House and Senate negotiators were putting the finishing touches Sunday on what would be the first successful budget accord since 2011, when the battle over a soaring national debt first paralyzed Washington. The deal expected to be sealed this week on Capitol Hill would not significantly reduce the debt, now $17.3 trillion and rising. It would not close corporate tax loopholes or reform expensive health-care and retirement programs. It would not even fully replace sharp spending cuts known as the sequester, the negotiators’ primary target. After more than two years of constant crisis, the emerging agreement amounts to little more
A veteran Washington adviser who has worked for four Presidents on both sides of the political aisle said that the stunning Government Accountability Report report that found President Barack Obama has not had a one-on-one meeting with Health and Human Services Secretary Kathleen Sebelius since the passage of Obamacare over three years ago is an indictment of the entire White House operation and shows that the Obama administration has bordered on "malfeasance." "I have no doubt the White House is right, that Secretary Sebelius was in several group meetings with the president about health care," Gergen caveated, "but the whole
President Barack Obama’s Facebook page on Saturday posted a message honoring the dead from Pearl Harbor—accompanied by a picture of Obama descending the stairs next to the Pearl Harbor Memorial. The picture barely fits the name of the Arizona Memorial so it can frame Obama in the foreground. The post´s statement reads: Today, with solemn pride and reverence, let us remember those who fought and died at Pearl Harbor, acknowledge everyone who carried their legacy forward, and reaffirm our commitment to upholding the ideals for which they served. President Obama The Obama Administration´s current shipbuilding plan shrinks the size of
Just how much do many Hollywood liberals hate conservatives? In an interview with Playboy, Ben Affleck said, "When I watch a guy [on film] I know is a big Republican, part of me thinks, I probably wouldn’t like this person if I met him": PLAYBOY: You developed a political profile campaigning for presidential candidates Al Gore, John Kerry and Barack Obama. How did that come about? AFFLECK: I grew up in a house with a mother who was a teacher and a Freedom Rider—very left-wing Democrats living in a heterogeneous working-class neighborhood. I picked up a lot of those values there, and I
MSNBC host Melissa Harris-Perry opened her program over the weekend with a commentary about the Affordable Care Act’s colloquial moniker: “Obamacare.” She said that the word was originally created as a “derogatory term,” designed by white men as a way to delegitimize President Barack Obama and his achievement. However, she said that the term will soon be synonymous with all of Obama’s accomplishments and she urged her audience to use the term with pride. “I want to talk today about a controversial word. It’s a word that has been with us for years, and like it or not, it’s indelibly
On his way to the podium at the memorial ceremony for former South African president Nelson Mandela, President Obama walked down the line of dignitaries, greeting other leaders there to pay their respects. Among the hands shaken: that of Cuban leader Raul Castro. Obama neither made a special effort to shake Castro’s hand nor to avoid him. A snub might have been awkward: In his speech, Obama praised Mandela’s “greatest gift” as “his recognition that we are all bound together in ways that can be invisible to the eye; that there is a oneness to humanity; that we achieve ourselves by
Prime Minister Benjamin Netanyahu made a last minute decision not to participate in a memorial service for the late South African President Nelson Mandela, despite having notified the South African government that he would attend the event. The decision was made in light of the high transportation costs resulting from the short notice of the trip and the security required for the prime minister in Johannesburg. The Prime Minister’s Office found that the trip would have cost roughly 7 million shekels ($2.4 million) – 2.8 million shekels for chartering a private El Al plane and a further 3.2 million shekels for
President Obama, former president George W. Bush and their wives departed Washington Monday morning on Air Force One on their way to a memorial service in South Africa for Nelson Mandela. The president and first lady Michelle Obama are being accompanied by Mr. Bush, former first lady Laura Bush and former Secretary of State Hillary Rodham Clinton on the flight to Johannesburg. A four-hour memorial service will be held on Tuesday for South Africa’s first black president. Mr. Mandela, the anti-apartheid revolutionary, died on Thursday at age 95. Former President Bill Clinton and daughter Chelsea are traveling separately to South Africa. Former President