$620 Bil in tax hikes, only $15 bil in spending cuts

[Toro]

We had a deadline, so they struck a deal. They'll let the new Congress deal with the hard stuff.

But all this does is kick the can down the road. It does nothing to solve the problem. We're going to be arguing about this 2, 3, 6 months from now. There are going to have be significant spending cuts.

 

[edthecynic]

how sad for us and our country, but hey all long as they can say Obama won something

SNIP:
Fact: Senate Fiscal Cliff Deal Contains $1 In Spending Cuts For Every $41 In Tax Hikes…


Via Fox News’ Chad Pergram:

Chad Pergram@ChadPergram


Colleague Ed Henry says CBO indicates #fiscalcliff bill has $620 billion in new tax hikes. $15 billion in spending cuts.

From
Weasel Zippers | Scouring the bowels of the internet | Weasel Zippers

Whenever the CON$ervoFascist Brotherhood says something is a "FACT" you know it isn't.

I already debunked this lie in another thread, but what the premeditated liar leaves out is the $620 billion is over 10 YEARS and the $15 billion is for the 2 MONTHS the sequestration is being delayed!!!!

 

[Toro]

It is hard.. very hard. I'm a single mom with no support. I take care of my daughter and myself on my own.. I'm always saving my change because I know it's literally food for my daughter those last two days before I get paid and that means I go without, which is no big deal.. I can handle it.

Go get some food stamps. If bamie can peddle them down in Mexico you're surely entitled to have some.

I can't do it Willow.. I go over to my dad's to eat on Sundays and if I have to, I go to him for something if I am really hungry.. I wasn't brought up to sponge off of the government. I'm applying for a 2nd job now.. I think I may have one. Let's hope!

^^^^^
Respect.

 

[Wiseacre]

We had a deadline, so they struck a deal. They'll let the new Congress deal with the hard stuff.

But all this does is kick the can down the road. It does nothing to solve the problem. We're going to be arguing about this 2, 3, 6 months from now. There are going to have be significant spending cuts.

I would say we'll be arguing about this for a lot longer than 6 months. This is probably going to be an issue until we have another great depression and a major paradigm shift occurs one way or another.

Don't know that we'll see serious entitlement reforms or real spending cuts as long as there's a democrat in the WH or the dems control either House of Congress. They just don't like less spending any more than the repubs like more taxes.

Assuming the House passes this deal, the political landscape has to change a little bit now that Obama and the Dems have finally got their tax rates hikes. One hopes the national discussion will shift to the spending side; the pressure that the repubs have been under should shift to the democrats. I would be okay with tax reforms, especially on the corporate side, but I don't think Obama is going to get any further rate hikes.

 

[SniperFire]

Cantor says NO.


LOL

House GOP opposition to fiscal cliff bill grows - Jake Sherman and Carrie Budoff Brown - POLITICO.com

 

[Interpol]

Republicans are so far out to lunch it hurts watching them pretend to care.

John Boehner couldn't even pass his own Republican plan in the House because his caucus is filled with retarded people who are more interested in making a point than in actually governing.

The President offered him more spending cuts than tax increases 18 months ago and Boehner and the Republicans walked away from that deal.

This past week, Boehner asks the President to re-consider the very same proposal that he and his House colleagues walked away from and the President rightly said no to that because he WON the election, not the Republicans, and the bill should favor the President more than the baggers.

Now the Senate passes this bill by 89-8, and Pelosi says she's got about 140-150 Democrats willing to vote for it, but of course, there are no Republicans to be found anywhere other than just bickering with themselves, simmering in their own misguided anger, happy to take us over the fiscal cliff.

Republicans have had two months to avoid steep military cuts and tax increases but now they're fucked because both things have just kicked in automatically, meaning the President wins by default.

The Republicans would have gotten so much more 18 months ago, but their hatred for Obama blinds them from co-operating with him on a bigger deal.

No one to blame here but this stupid party of nitwits and know-nothings, who've just royally fucked themselves over by not dealing this whole time and by not putting forward any spending cuts themselves.

 

[LoneLaugher]

This is not the time for drastic spending cuts.

 

[GuyPinestra]

This is not the time for drastic spending cuts.

You frootloops won't be amenable to serious spending cuts until the dollar is worth a dime and bread is $10 a loaf.

Idiots.

 

[DiamondDave]

This is not the time for drastic spending cuts.

Uh huh.. because when you are in financial trouble.. the best thing to do is spend more...

Idiot

 

[boedicca]

This is not the time for drastic spending cuts.

Uh huh.. because when you are in financial trouble.. the best thing to do is spend more...

Idiot

LL's philosophy of personal financial management:

"What do you mean I'm out of money? I still have checks left!"

 

[LoneLaugher]

The funnies keep on coming from this crew. I'm slapping my knees red, I am.

 

[GuyPinestra]

The funnies keep on coming from this crew. I'm slapping my knees red, I am.

Too bad it's not your face you're slapping, need a hand?

 

[LoneLaugher]

The funnies keep on coming from this crew. I'm slapping my knees red, I am.

Too bad it's not your face you're slapping, need a hand?

Sure.....need something broken?

 

[C_Clayton_Jones]

Oh yeah, that'll fix the deficit alright. Obama is saying the next battle over the debt ceiling has to have more tax increases, be interesting to see how that goes. I'm thinking after this deal the GOP will have a lot of support for more spending cuts, but not so much for the Dems and their higher taxes. Maybe they'll do some reform of the tax code, which would be a good thing IMHO. I'd like to see 'em do something about business taxes, which are currently the highest in the world.

We need to focus on creating jobs and fostering economic growth – getting Americans back to work needs to be our focus, not reducing the deficit.

Once we’re in long-term, sustained economic growth, we can focus on deficit reduction.

 

[GuyPinestra]

The funnies keep on coming from this crew. I'm slapping my knees red, I am.

Too bad it's not your face you're slapping, need a hand?

Sure.....need something broken?

Just your nose...

 

[Wiseacre]

Oh yeah, that'll fix the deficit alright. Obama is saying the next battle over the debt ceiling has to have more tax increases, be interesting to see how that goes. I'm thinking after this deal the GOP will have a lot of support for more spending cuts, but not so much for the Dems and their higher taxes. Maybe they'll do some reform of the tax code, which would be a good thing IMHO. I'd like to see 'em do something about business taxes, which are currently the highest in the world.

We need to focus on creating jobs and fostering economic growth – getting Americans back to work needs to be our focus, not reducing the deficit.

Once we’re in long-term, sustained economic growth, we can focus on deficit reduction.

Fine with me, I agree with this. The problem is that the democrats want to raise taxes and spend more, both of which are counter productive to creating jobs and fostering economic growth.

 

[RoadVirus]

This is not the time for drastic spending cuts.

So when do we drastically cut spending? After our credit rating is downgraded a few more times?

 

[LoneLaugher]

This is not the time for drastic spending cuts.

So when do we drastically cut spending? After our credit rating is downgraded a few more times?

See above.

Now is a bad time.

 

[ShaklesOfBigGov]

I used to believe that too...until I found out that most major corporations pay zero to very little in taxs...in 2010 the top 10 richest corporations paid ZERO in Federal taxs because of loopholes and off shore crap and shennanigans. They get no more tears from me.
I can say my tax rate is 90% but who cares I dont pay anything its all bs...if theres a change in the tax code it should be to end all loopholes and subsidies

Get rid of the corporate income tax altogether and you'll see an unprecedented economic boom in this country.

DTMB certainly has a case study or two to back that up. No need to post them. We trust you.

Ask and you shall receive......

Swedish Tax Newsletter
January 2011

1. Swedish Corporate Taxation; Up-date & News

The Swedish corporate tax rate has been REDUCED from 28% to 26.3%, applicable for financial years starting 1 January 2009, or later (the reduction in part financed by the new anti-debt push down restrictions).

The ABOLISHED capital gains taxation for corporates a few years ago has under the participation exemption provisions made Sweden a favourable holding company location. Capital gains on shares held for business reasons are, thus, tax exempt for corporates and losses are not deductible. The tax exemption also include dividends on such shares.

http://www.pwc.com/se/sv/swedish-tax...ter-1-2011.pdf
https://www.pwc.se/sv/swedish-tax-newsletter/swedish-tax-newsletter-2-2011.pdf

Sweden overtakes the US in competitiveness
Economy
- Published Wednesday, 16 February 2011 05:46 |
Author: Johan Nylander

Sweden is the world’s second most competitive country, according to the World Economic Forum’s last ranking. The Scandinavian country was praised for its transparency, efficient financial markets and world-leading adoption of technology.

Switzerland topped the overall ranking in The Global Competitiveness Report 2010-2011. Sweden overtook the US and Singapore this year to be placed 2nd overall.

Sweden benefits from the world’s most transparent and efficient public institutions, with very low levels of corruption and undue influence. The government is also considered to be one of the most efficient in the world (that leaves the United States Federal Government out. This administration spends more than an alcoholic at 'happy hour'), stated the report.

“Combined with a strong focus on education over the years (ranked 2nd for higher education and training) (that won't happen here as long as we have unions and teacher tenure placed at greater importance over students) and the world’s strongest technological adoption (ranked 1st in technological readiness), Sweden has developed a very sophisticated business culture (2nd) and is one of the world’s leading innovators (ranked 5th)", said the World Economic Forum in its report.

www.swedishwire.com/.../8578-sweden- ...

 

[Claudette]

Get rid of the corporate income tax altogether and you'll see an unprecedented economic boom in this country.

DTMB certainly has a case study or two to back that up. No need to post them. We trust you.

Ask and you shall receive......

Swedish Tax Newsletter
January 2011

1. Swedish Corporate Taxation; Up-date & News

The Swedish corporate tax rate has been REDUCED from 28% to 26.3%, applicable for financial years starting 1 January 2009, or later (the reduction in part financed by the new anti-debt push down restrictions).

The ABOLISHED capital gains taxation for corporates a few years ago has under the participation exemption provisions made Sweden a favourable holding company location. Capital gains on shares held for business reasons are, thus, tax exempt for corporates and losses are not deductible. The tax exemption also include dividends on such shares.

http://www.pwc.com/se/sv/swedish-tax...ter-1-2011.pdf
https://www.pwc.se/sv/swedish-tax-newsletter/swedish-tax-newsletter-2-2011.pdf

Sweden overtakes the US in competitiveness
Economy
- Published Wednesday, 16 February 2011 05:46 |
Author: Johan Nylander

Sweden is the world’s second most competitive country, according to the World Economic Forum’s last ranking. The Scandinavian country was praised for its transparency, efficient financial markets and world-leading adoption of technology.

Switzerland topped the overall ranking in The Global Competitiveness Report 2010-2011. Sweden overtook the US and Singapore this year to be placed 2nd overall.

Sweden benefits from the world’s most transparent and efficient public institutions, with very low levels of corruption and undue influence. The government is also considered to be one of the most efficient in the world (that leaves the United States Federal Government out. This administration spends more than an alcoholic at 'happy hour'), stated the report.

“Combined with a strong focus on education over the years (ranked 2nd for higher education and training) (that won't happen here as long as we have unions and teacher tenure placed at greater importance over students) and the world’s strongest technological adoption (ranked 1st in technological readiness), Sweden has developed a very sophisticated business culture (2nd) and is one of the world’s leading innovators (ranked 5th)", said the World Economic Forum in its report.

http://www.usmessageboard.com/politics/politics/politics/www.swedishwire.com/.../8578-sweden- ...

Of course it works. It worked in Sweden and it would work here.

LL's just one of those who thinks taxes are the way to go.

Oh and I hope no one is holding their breath for those spending cuts?? I sure ain't.