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Thread: Key republican bolts from debt ceiling talks

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    Re: Key republican bolts from debt ceiling talks

    Both Eric Cantor and Jon Kyl have walked away from talks. This is almost certainly a negotiating tactic aimed at forcing the President to resolve the tax issue and perhaps to open the Boehner-Obama talks that Republicans have been seeking for some time. More than likely, no matter how the process is altered, this impasse is a first step toward what will be a more modest debt ceiling increase-fiscal consolidation program than the $2.4 trillion debt ceiling hike the White House has been seeking.

    For Republicans, revenue raising measures (be it through subsidy, deduction, preferences, credits reductions or tax rate increases) is off limits. For Democrats, some degree of revenue raising measures is key to their agreement on significant mandatory spending reductions. More than likely, this potentially irreconcilable gap will be resolved not through compromise, but through an approach that involves smaller savings (largely insulating the mandatory spending programs this time around) and for which revenue increases are not needed to secure the savings. In short, the stage is being set for another fiscal punt. Such a compromise will ultimately be needed for credible fiscal consolidation. It probably won't occur until at least after the 2012 elections, at the earliest.

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by Jeezy View Post
    Psst...hey, guess what? We don't actually want the debt ceiling raised! At all!

    Or at least, I don't.
    Hey, guess what... in order to implement to Republicans' budget proposal, the debt ceiling would have to be raised.
    God Has Boobs. It's in the Bible.

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by toddwv View Post
    Hey, guess what... in order to implement to Republicans' budget proposal, the debt ceiling would have to be raised.
    Not if there's no compromise whatsoever
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    Re: Key republican bolts from debt ceiling talks

    Yes there is. Mr. Fiscally Responsible Paul Ryan's plan calls for gigantic increases in borrowing to pay for tax cuts on the wealthy.

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by Gargantuan View Post
    Yes there is. Mr. Fiscally Responsible Paul Ryan's plan calls for gigantic increases in borrowing to pay for tax cuts on the wealthy.
    And the Democrats plan is to keep spending and hope stealing more money from a small precentage of tax payers will make everything better.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by Gargantuan View Post
    Yes there is. Mr. Fiscally Responsible Paul Ryan's plan calls for gigantic increases in borrowing to pay for tax cuts on the wealthy.
    Tax cuts pay for themselves
    "I have never understood why it is "greed" to want to keep the money you have earned but not greed to want to take somebody else's money." -Thomas Sowell

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by Bigfoot 88 View Post
    Tax cuts pay for themselves
    Only over long periods of time(note: capital gains taxes exempted from this, due to first year increases in cashing in capital gains type holdings, and then it gets complicated). Eventually, tax cuts usually pay for themselves, but it is my understanding you are looking at 25 + year time frames.
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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by Redress View Post
    Only over long periods of time(note: capital gains taxes exempted from this, due to first year increases in cashing in capital gains type holdings, and then it gets complicated). Eventually, tax cuts usually pay for themselves, but it is my understanding you are looking at 25 + year time frames.
    This is why you fail.

    Reagan, tax cuts produced immediate tax revenue gains, so did the JFK and GWB Tax Cuts.

    But, don't let that stop you, keep saying tax cuts take 25 years to pay for themselves!
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by MrVicchio View Post
    This is why you fail.

    Reagan, tax cuts produced immediate tax revenue gains, so did the JFK and GWB Tax Cuts.

    But, don't let that stop you, keep saying tax cuts take 25 years to pay for themselves!
    You can prove this? Note importantly that proving revenue gains does not in fact prove your point, since the system is fairly complex and you are not isolating a variable.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by Bigfoot 88 View Post
    Okay, then cut subsidies and loopholes.

    Don't raise taxes.

    I don't know why anyone would want to raise taxes especially considering we are hovering on a double dip recession. These FDR policies are going to keep us in a muck for a while.
    If only your fellow GOPer were this normal.. to them any cutting of subsides and loopholes = Tax increase... they have said so many times.
    PeteEU

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