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Thread: Key republican bolts from debt ceiling talks

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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.
    Hence, Republicans really don't care about running up huge deficits...not really. They've "kicked the can down the road" for over 30 years now and have done little to nothing to pay it down. Only now when our national economy is in trouble AND a Democrat is in the White House do they seem to care about this issue at all. What's even more pathetic about Cantor and Kyle walking out of negotiations is that according to this report from CNN, both sides have agreed to TRILLIONS in spending cuts which was what Republicans initially insisted on at the onset of negotiations for raising the debt ceiling.

    The bipartisan group, led by Vice President Biden, has been meeting for weeks behind closed doors to discuss various proposals to cut spending, from both discretionary programs and entitlement programs, such as Medicare. They have released very few details about areas of agreement, but Cantor said the group made significant progress agreeing to trillions in spending cuts, and noted “we have established a blueprint that could institute the fiscal reforms needed to start getting our fiscal house in order.”

    ...

    Democrats involved in the negotiations have repeatedly said increasing tax revenues, from proposals such as ending subsidies for big oil companies, or companies producing ethanol, should be considered as part of the deal. Van Hollen said there was no justification for opposing those items “if you are serious about reducing the deficit.”

    But the Democratic source—who would not speak on the record about the closed talks–said the Republicans in the negotiations have refused to accept any proposals that end any subsidies. "They're not willing to accept a dime of tax increases, we call it closing tax loopholes"

    A Republican leadership, who also asked not to be identified, said it was the Democrats holding up progress because they refused to accept major changes to entitlement programs.

    Senate Republican Leader Mitch McConnell went to the Senate floor and echoed Cantor’s message.

    "Either someone on the other side has forgotten that there is strong bipartisan, bipartisan, opposition in Congress to raising taxes or someone is acting in bad faith. We’ve known for some time that tax hikes would be a poison pill to any deficit reduction proposal,” McConnell said.

    As Republicans were stressing their position to keep taxes off the table, the Democratic source maintained the GOP was continuing to push for major cuts to programs that they knew Democrats would oppose.
    Now, let's get this straight...

    Since the 2011 and 2012 budget negotions, Democrats have agreed to over $105 billion dollars in spending cuts. During the debt ceiling negotions, Democrats have agreed to even more SIGNIFICANT spending cuts - in excess of over $1 TRILLIONS over and above the billions that have already been cut and are willing to cut even more. Talk about moving the goal posts!

    I don't know how much further one party can reach across the aisle, ladies and gentlemen. Democrats have done their part; it's beyond time Republicans start doing theirs.

    Sidenote: Notice, ladies and gentlemen, that in initial debt ceiling negotiations according to the FoxNews article Republican negotiators never mentioned their resistance to tax increases nor their refusal to eliminate tax subsidies. But now all of a sudden not only are we starting to hear about pledges on the Right to vote against raising taxes of any kind, Cantor and Co. have now thrown the tax issue into the mix. It wasn't an issue before, but suddenly it is. Let me make it clear here, folks: If you're going to claim that it's okay to eliminate tax subsidies on Ethenal because such an industry has proven its ability to be "profitable on its own," you'd better damned well be prepared to see tax subsidies for big oil on the table and expect them to go "bye-bye" as well since they've proven they're ability to make huge profits even during the worst economic crisis since the Depression.
    Last edited by Objective Voice; 06-23-11 at 06:09 PM.

  2. #32
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    Re: Key republican bolts from debt ceiling talks

    Absolutely. Democrats are going out on a major limb here, even though they control TWO parts of the government, whereas the GOP only has ONE. They should be the ones jumping over hoops, but they won't even agree to one thing.

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    Re: Key republican bolts from debt ceiling talks

    This is just such bull****.

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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.
    Why would one want to raise taxes? Cause there's no such thing as a free lunch. Eventually we have to pay for what we're spending. Time to cowboy up and pay the tab.
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    Re: Key republican bolts from debt ceiling talks

    Interesting Tweet:

    BobBrinker: RT @rationalwalk: When did eliminating insane tax subsidies become "tax increases" that Republicans are forbidden (by Grover Norquist) to modify in any way?

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by Gargantuan View Post
    Debt ceiling: Key Republican bolts debt ceiling talks - Jun. 23, 2011



    I'm sorry but this is absolutely ridiculous. Democrats control the senate and the White House. That's 2/3. You guys control 1. We already have agreed to cutting medicare and other entitlements,
    they have? where?

    and you won't even give us tax increases in the form of cutting loopholes and subsidies? Is the GOP kidding?
    1. raising tax rates is unlikely to produce more revenue
    2. it will, however, limit growth, reduce jobs, and is therefore likely to decrease revenue.

    We are all for tax code simplification - getting rid of loopholes, subsidies, corporate welfare, credits, and so forth. But not by increasing effective tax rates.

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    Re: Key republican bolts from debt ceiling talks

    That's right cpwill. That's not the discussion. No one is attempting to raise rates. They are refusing to do exactly what you are FOR.

    And many times. Someone posted all of it in this thread. Obama has publicly admitted.

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    Re: Key republican bolts from debt ceiling talks

    Yeah I like the BS characterization. How about we try this one : Tax Dispute Stalls Debt Talks - WSJ.com

    The group, led by Vice President Joseph Biden, canceled its scheduled meeting Thursday. The suspension of the group's work could mark the beginning of the final stage of budget negotiations, which most participants had long assumed would be concluded by the president, the speaker and Senate Majority Leader Harry Reid (D., Nev.)

    "We've reached the point where the dynamic needs to change," Mr. Cantor said in an interview with The Wall Street Journal. "It is up to the president to come in and talk to the speaker. We've reached the end of this phase."
    AND

    "As all of us at the table said at the outset, the goal of these talks was to report our findings back to our respective leaders,'' Mr. Biden said. "The next phase is in the hands of those leaders, who need to determine the scope of an agreement that can tackle the problem and attract bipartisan support. For now the talks are in abeyance as we await that guidance."
    Walking away from the talks is a bit of an exaggeration, moving onto the next phase would be more accurate...melodrama and hyberbole aside.

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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by Gargantuan View Post
    Yes they do. The discussion is regarding revenue increases. Subsidies and loopholes lower revenue. Cutting them will raise revenue.

    Try again.
    How will all this reduce the debt, that's what I'm concerned with?
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    Re: Key republican bolts from debt ceiling talks

    Quote Originally Posted by Ikari View Post
    Why would one want to raise taxes? Cause there's no such thing as a free lunch. Eventually we have to pay for what we're spending. Time to cowboy up and pay the tab.
    Time to spend less.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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