GOP Senator offers solution to fiscal cliff

[JimH52]

GOP senator offers 'fiscal cliff' solution - Business - Boston.com

Both tax increases and adjustment to entitlements involved. Grover must be soiling his pants...

 

[Moonglow]

I like that idea.

 

[JimH52]

So Obama won't like it if the rate doesn't go up for high income earners and Grover won't like it cause it will increase taxes on the weathy, as it limits deductions...WINNER?

 

[Moonglow]

with a limit on deductions it is like a tax increase upon the wealthy.

 

[JimH52]

But will the WH go for it? The Bush tax cuts must go. It appears the limit would be $50,000. Anyone on here with that much in deductions?

 

[DiamondDave]

And every party happy politician still panders instead of striving for equality in treatment... This is just another costume for the same bullshit broken system

 

[Darkwind]

GOP senator offers 'fiscal cliff' solution - Business - Boston.com

Both tax increases and adjustment to entitlements involved. Grover must be soiling his pants...

Where are the spending cuts?

 

[BlindBoo]

Wasn't that Mitts plan, to limit deductions to avoid Grover's wrath? Didn't the President already say that(limiting deductions) would not raise enough revenue? Where are the reductions in Military spending?

 

[Vel]

But will the WH go for it? The Bush tax cuts must go. It appears the limit would be $50,000. Anyone on here with that much in deductions?

Obama had $278,000 in deductions last year so I bet he says no. I think the plan could work but only if charitable deductions are included in the cap.

 

[g5000]

GOP senator offers 'fiscal cliff' solution - Business - Boston.com

Both tax increases and adjustment to entitlements involved. Grover must be soiling his pants...

FINALLY! Some ideas on the table instead of attacks.

Tennessee Sen. Bob Corker is circulating a 10-year, $4.5 trillion plan loaded with controversial proposals, including a less generous inflation adjustment for Social Security, and a gradual increase in the regular Social Security retirement age to 68 and the Medicare eligibility age to 67.

Something I have been in favor of for a long time. We are living longer, we should be working longer.

However, 68 and 67 are nowhere near high enough. Both need to be at least 70.

Life expectancy was 60 when Social Security was implemented. Social Security was insurance in case you beat the odds, not an entitlement.

6 percent of the population was over 65 when Social Security was enacted. Today, 13 percent are over 65. We have literally more than doubled the Social Security load on the Treasury. When you add Medicare on top of that, it is no wonder we are seriously broken.

Life expectancy is now 78 and will keep on climbing.

The eligibility ages should either be indexed to life expectancy or to a percentage of the population.

Corker’s plan also includes $749 billion in higher tax revenue claimed by capping itemized deductions at $50,000, a proposal that hits wealthier taxpayers the hardest.

Wrong answer.

We need to remove ALL tax expenditures from the tax code. Every last one of them.

If a Congressman cannot tinker with the tax code by attaching a rider to a bill that adds another tax expenditure, then giving him campaign cash to do so becomes pointless. He cannot be bribed.

We have been adding tax expenditures at the rate of one a day for over a decade. It has become so corrupt that they now add up to a trillion dollars a year.

Get rid of them all. This will truly broaden the base, and then you can lower the tax rates for everyone. And you can broaden the base to include more than 47 percent of income earners so that more people have skin in the game.

This way, if your neighbor earns the same paycheck you do, you are both paying the identical amount of taxes.

It does not get more fair than that.

.

 

[g5000]

Federal workers would get hit with higher contributions to their pensions and would receive an $11,000 voucher payment to finance their family’s health insurance, saving taxpayers about $7 billion a year.

Awesome, Corker! This is exactly the direction we need to go with employer-sponsored health insurance.

This is one of many things that need to be done to start bending the cost of health care down.

But if Obama is going to nix any single idea, it will be this one. Guarantee it. The Democratic Party will go after this with a vengeance.


.

 

[AmyNation]

I like it, it doesnt have anything I'd like to see, but it's a good start.

 

[Dreamy]

Let's increase taxes now and be foolish enough to believe in the promised spending cuts that will never happen.

Pass.

Retain the current rates for all or resume the Clinton era rates.

 

[g5000]

Let's increase taxes now and be foolish enough to believe in the promised spending cuts that will never happen.

Pass.

Retain the current rates for all or resume the Clinton era rates.

Raising the retirement age is a massive spending cut. It does not get any bigger than that.

Any additional spending cuts would have to come out of Defense or by eliminating tax expenditures (deductions, credits, subsidies, loopholes, whathaveyou).




.

 

[g5000]

Sorry, folks, but ObamaPhones and food stamps are barely a blip on the spending radar. Cutting those would like using one less postage stamp a month when you are spending two thousand dollars a month more than you earn.

Raising the retirement age is a much bigger and much better cut.

Then you have to take a serious look at Defense and tax expenditures.

If you are honestly serious about spending, that is.

.

 

[Vel]

GOP senator offers 'fiscal cliff' solution - Business - Boston.com

Both tax increases and adjustment to entitlements involved. Grover must be soiling his pants...

FINALLY! Some ideas on the table instead of attacks.

Tennessee Sen. Bob Corker is circulating a 10-year, $4.5 trillion plan loaded with controversial proposals, including a less generous inflation adjustment for Social Security, and a gradual increase in the regular Social Security retirement age to 68 and the Medicare eligibility age to 67.

Something I have been in favor of for a long time. We are living longer, we should be working longer.

However, 68 and 67 are nowhere near high enough. Both need to be at least 70.

Life expectancy was 60 when Social Security was implemented. Social Security was insurance in case you beat the odds, not an entitlement.

6 percent of the population was over 65 when Social Security was enacted. Today, 13 percent are over 65. We have literally more than doubled the Social Security load on the Treasury. When you add Medicare on top of that, it is no wonder we are seriously broken.

Life expectancy is now 78 and will keep on climbing.

The eligibility ages should either be indexed to life expectancy or to a percentage of the population.

Corker’s plan also includes $749 billion in higher tax revenue claimed by capping itemized deductions at $50,000, a proposal that hits wealthier taxpayers the hardest.

Wrong answer.

We need to remove ALL tax expenditures from the tax code. Every last one of them.

If a Congressman cannot tinker with the tax code by attaching a rider to a bill that adds another tax expenditure, then giving him campaign cash to do so becomes pointless. He cannot be bribed.

We have been adding tax expenditures at the rate of one a day for over a decade. It has become so corrupt that they now add up to a trillion dollars a year.

Get rid of them all. This will truly broaden the base, and then you can lower the tax rates for everyone. And you can broaden the base to include more than 47 percent of income earners so that more people have skin in the game.

This way, if your neighbor earns the same paycheck you do, you are both paying the identical amount of taxes.

It does not get more fair than that.

.

Just pointing out that the tax itself was only 3% when SS was fully implemented so we have also doubled the amount taken in for each worker as well.

 

[Dot Com]

Let's increase taxes now and be foolish enough to believe in the promised spending cuts that will never happen.

Pass.

Retain the current rates for all or resume the Clinton era rates.

Raising the retirement age is a massive spending cut. It does not get any bigger than that.

Any additional spending cuts would have to come out of Defense or by eliminating tax expenditures (deductions, credits, subsidies, loopholes, whathaveyou).




.

It is a start. Coburn (R) has championed def spending cuts: http://www.usmessageboard.com/politics/263190-because-thats-where-the-money-is.html

 

[RoadVirus]

But if Obama is going to nix any single idea, it will be this one. Guarantee it. The Democratic Party will go after this with a vengeance.


.

And when they do, it will no longer be the GOP's fault if/when we fall off the cliff.

 

[JimH52]

What we see is a beginning....not an end. The sad part of the whole situation is for Grover, this is not even a beginning. He will "go after" any proposal that takes from the super wealthy.

 

[Stephanie]

What we see is a beginning....not an end. The sad part of the whole situation is for Grover, this is not even a beginning. He will "go after" any proposal that takes from the super wealthy.

oh for crying out loud..you people and grover grover grover grover..this is what people have been saying FOREVER..

SPENDING CUTS and then talk TAXES

not just RASING TAXES..

you can't even post something without trying to mock someone