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As you know, GOP Rep. Tom Cole made waves today by urging Republicans to give in to the Dem demand that they extend the Bush tax cuts for everyone under $250,000. Cole argued this would remove the leverage Dems have and give the GOP more leverage to fight to extend the high-end tax cuts later, since Dems want the fiscal cliff averted and also want a debt ceiling hike.
Today John Boehner rejected Coles suggestion. But in the process, he said something pretty revealing:
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I told Tom earlier in our conference meeting that I disagreed with him, Boehner told reporters after a closed-door meeting of the House Republican Conference. Hes a wonderful friend of mine and a great supporter of mine. But raising taxes on the so-called top 2 percent half of those people are small-business owners that pay their taxes through their personal income tax filing every year. The goal here is to grow the economy and to cut spending.
Were not going to grow the economy if we raise tax rates on the top two rates, the Speaker added. Itll hurt small businesses. Itll hurt our economy. Thats why its not the right approach. Well willing to put revenue on the table as long as were not raising rates.
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In Boehners telling, extending the tax cuts just for those under $250,000 is simply indistinguishable from raising them on those Boehner himself describes as the top two percent. But Cole isnt suggesting a tax hike for the top two percent. Rather, Cole wants Republicans to extend the low end tax rates right now, and then take a stand against raising the high end ones in the fiscal cliff talks.
Why are we doing this by ideology instead of knowledge based?? This is very serious and we need to make sure that what we do doesn't hurt us.
Will raising the taxes on the top 2 percent hurt or help?
I fail to grasp why it is the responsibility of those who worked very hard for their success to be singled out and forced to pay more than those who arguably did not put forth the effort.
Why are we doing this by ideology instead of knowledge based?? This is very serious and we need to make sure that what we do doesn't hurt us.
Will raising the taxes on the top 2 percent hurt or help?
you mean putting them back to where they were when clinton was president and the economy was booming?
that tax increase?
i'd say it won't hurt and it will help our budget.... which will help our economy.
so there ya go.
