McConnell: No real deficit deal until Obama is gone

[Trajan]

So your idea of reform is to punish Americans.

I have no idea what you are talking about.....

I didn't figure you would.

Who do you think we are discussing here?

Starting in 2013, the bill adds an additional 0.9% to the 2.9% Medicare tax for singles who earn more than $200,000 and couples making more than $250,000.

• For first time, the bill also applies Medicare’s 2.9% payroll tax rate to investment income, including dividends, interest income and capital gains. Added to the 0.9% payroll surcharge, that means a 3.8-percentage point tax hike on “the rich.” Oh, and these new taxes aren’t indexed for inflation, so many middle-class families will soon be considered rich and pay the surcharge as their incomes rise past $250,000 due to tax-bracket creep. Remember how the Alternative Minimum Tax was supposed to apply only to a handful of millionaires?

• Also starting in 2013 is a 2.3% excise tax on medical device manufacturers and importers. That’s estimated to raise $20 billion.

• Already underway this year is the new annual fee on “branded” drug makers and importers, which will raise $27 billion.

• Another $15.2 billion will come from raising the floor on allowable medical deductions to 10% of adjusted gross income from 7.5%.

• Starting in 2018, the bill imposes a whopping 40% “excise tax” on high-cost health insurance plans. Though it only applies to two years in the 2010-2019 window of ObamaCare’s original budget score, this tax would still raise $32 billion—and much more in future years.

• And don’t forget a new annual fee on health insurance providers starting in 2014 and estimated to raise $60 billion. This tax, like many others on this list, will be passed along to consumers in higher health-care costs.

uh yes, I KNOW that WHY do you think I am POSTING IT....fcs....

 

[Mustang]

McConnell: No real deficit deal until Obama is gone - Political Hotsheet - CBS News

The Senate's top Republican said Tuesday that he did not see a way for Republicans and Democrats to come to agreement on meaningful deficit reduction as long as President Obama remains in office.

Republicans are looking to cut trillions of dollars in federal spending, while Democrats are pushing for a more "balanced approach," which would include both spending cuts and higher revenue to the government.

-----------------

Wow, I thought when Republicans blackmailed the president into extending the Bush tax cuts by telling him they would cut off unemployment for millions of Americans was stepping "way over" the line.

But this? Blackmailing the entire country? Threatening the American people with economic collapse simply to get the black guy out of the WHITE House?

The number of government workers is 500,000 less than when Obama took office. We went from losing 800,000 jobs a month to positive job growth for 15 straight months. The DOW has gone up over 6,000 points. Obama got Bin Laden.

So what has Obama done that's so bad? Besides being "black"? And when you say things like "Colonial Kenyan Mau Mau", there is no doubt it's all about race. No doubt at all.

I think this shows the Republican's "True Colors".

If this was only a replay of the budget battle of '95 and '96, and the Republicans were the only ones who were going to reap what they sowed, I wouldn't really care one bit. But this is just completely irresponsible on McConnell's part because this is going to be one big mess, and a lot of people are going to suffer.

 

[CrusaderFrank]

McConnell: No real deficit deal until Obama is gone - Political Hotsheet - CBS News

The Senate's top Republican said Tuesday that he did not see a way for Republicans and Democrats to come to agreement on meaningful deficit reduction as long as President Obama remains in office.

Republicans are looking to cut trillions of dollars in federal spending, while Democrats are pushing for a more "balanced approach," which would include both spending cuts and higher revenue to the government.

-----------------

Wow, I thought when Republicans blackmailed the president into extending the Bush tax cuts by telling him they would cut off unemployment for millions of Americans was stepping "way over" the line.

But this? Blackmailing the entire country? Threatening the American people with economic collapse simply to get the black guy out of the WHITE House?

The number of government workers is 500,000 less than when Obama took office. We went from losing 800,000 jobs a month to positive job growth for 15 straight months. The DOW has gone up over 6,000 points. Obama got Bin Laden.

So what has Obama done that's so bad? Besides being "black"? And when you say things like "Colonial Kenyan Mau Mau", there is no doubt it's all about race. No doubt at all.

I think this shows the Republican's "True Colors".

If this was only a replay of the budget battle of '95 and '96, and the Republicans were the only ones who were going to reap what they sowed, I wouldn't really care one bit. But this is just completely irresponsible on McConnell's part because this is going to be one big mess, and a lot of people are going to suffer.

Obama thinks its funny.

 

[8537]

I didn't know anyone would be foolish enough to say otherwise. The money has to come from somewhere and someone, and it is paid in higher consumer pricing because a corporation isn't going to take a hit on their profit margains.

That depends on who has the leverage in the transaction. If we placed a $1.00 tax on Coke, Coke wouldn't be able to increase the price of Coke by a $1.00. In markets where Pepsi exists, in fact, they might not be able to raise the price at all. The demand is very elastic in that scenario.

Health care is quite different - the HC provider has almost all the leverage and the demand is almost completely inelastic. Not a lot of substitutes for a heart bypass surgery.

 

[Jarhead]

I didn't figure you would.

Who do you think we are discussing here?

Starting in 2013, the bill adds an additional 0.9% to the 2.9% Medicare tax for singles who earn more than $200,000 and couples making more than $250,000.

• For first time, the bill also applies Medicare’s 2.9% payroll tax rate to investment income, including dividends, interest income and capital gains. Added to the 0.9% payroll surcharge, that means a 3.8-percentage point tax hike on “the rich.” Oh, and these new taxes aren’t indexed for inflation, so many middle-class families will soon be considered rich and pay the surcharge as their incomes rise past $250,000 due to tax-bracket creep. Remember how the Alternative Minimum Tax was supposed to apply only to a handful of millionaires?

• Also starting in 2013 is a 2.3% excise tax on medical device manufacturers and importers. That’s estimated to raise $20 billion.

• Already underway this year is the new annual fee on “branded” drug makers and importers, which will raise $27 billion.

• Another $15.2 billion will come from raising the floor on allowable medical deductions to 10% of adjusted gross income from 7.5%.

• Starting in 2018, the bill imposes a whopping 40% “excise tax” on high-cost health insurance plans. Though it only applies to two years in the 2010-2019 window of ObamaCare’s original budget score, this tax would still raise $32 billion—and much more in future years.

• And don’t forget a new annual fee on health insurance providers starting in 2014 and estimated to raise $60 billion. This tax, like many others on this list, will be passed along to consumers in higher health-care costs.

I agree.
But why is that true as it pertains to healthcare but the left continmually argues that it is a falsehood to claim an increase on corporate tax will be passed on to the consumer?

I didn't know anyone would be foolish enough to say otherwise. The money has to come from somewhere and someone, and it is paid in higher consumer pricing because a corporation isn't going to take a hit on their profit margains.

you never hear those such as Bob Beckel and other cable talking heads from the left saying that it was only rhetoric and fear tactics when those on the right would say an increase in corporate taxes would be passed on to the consumer?

 

[Mustang]

McConnell: No real deficit deal until Obama is gone - Political Hotsheet - CBS News

The Senate's top Republican said Tuesday that he did not see a way for Republicans and Democrats to come to agreement on meaningful deficit reduction as long as President Obama remains in office.

Republicans are looking to cut trillions of dollars in federal spending, while Democrats are pushing for a more "balanced approach," which would include both spending cuts and higher revenue to the government.

-----------------

Wow, I thought when Republicans blackmailed the president into extending the Bush tax cuts by telling him they would cut off unemployment for millions of Americans was stepping "way over" the line.

But this? Blackmailing the entire country? Threatening the American people with economic collapse simply to get the black guy out of the WHITE House?

The number of government workers is 500,000 less than when Obama took office. We went from losing 800,000 jobs a month to positive job growth for 15 straight months. The DOW has gone up over 6,000 points. Obama got Bin Laden.

So what has Obama done that's so bad? Besides being "black"? And when you say things like "Colonial Kenyan Mau Mau", there is no doubt it's all about race. No doubt at all.

I think this shows the Republican's "True Colors".

If this was only a replay of the budget battle of '95 and '96, and the Republicans were the only ones who were going to reap what they sowed, I wouldn't really care one bit. But this is just completely irresponsible on McConnell's part because this is going to be one big mess, and a lot of people are going to suffer.

Obama thinks its funny.

The mystical and magical insight that some conservatives seem to think they have into Obama's mind and his private thoughts is undoubtedly proof that they're mentally ill (in the clinical sense of the word).

 

[Jarhead]

I didn't know anyone would be foolish enough to say otherwise. The money has to come from somewhere and someone, and it is paid in higher consumer pricing because a corporation isn't going to take a hit on their profit margains.

That depends on who has the leverage in the transaction. If we placed a $1.00 tax on Coke, Coke wouldn't be able to increase the price of Coke by a $1.00. In markets where Pepsi exists, in fact, they might not be able to raise the price at all. The demand is very elastic in that scenario.

Health care is quite different - the HC provider has almost all the leverage and the demand is almost completely inelastic. Not a lot of substitutes for a heart bypass surgery.

whoa...need to ask you to clarify...

But my take is this...

No reason to EVER increase tax on coke but not ALL soft drink makers.

So increase the tax on soft drink makers by 1.00 a can and I guerantee you, soft drink will increase by 1 dollar a can.

 

[Jarhead]

I didn't know anyone would be foolish enough to say otherwise. The money has to come from somewhere and someone, and it is paid in higher consumer pricing because a corporation isn't going to take a hit on their profit margains.

That depends on who has the leverage in the transaction. If we placed a $1.00 tax on Coke, Coke wouldn't be able to increase the price of Coke by a $1.00. In markets where Pepsi exists, in fact, they might not be able to raise the price at all. The demand is very elastic in that scenario.

Health care is quite different - the HC provider has almost all the leverage and the demand is almost completely inelastic. Not a lot of substitutes for a heart bypass surgery.

but there ARE other insurance companies..
and the tax increase will be on ALL of themn

 

[Jarhead]

If this was only a replay of the budget battle of '95 and '96, and the Republicans were the only ones who were going to reap what they sowed, I wouldn't really care one bit. But this is just completely irresponsible on McConnell's part because this is going to be one big mess, and a lot of people are going to suffer.

Obama thinks its funny.

The mystical and magical insight that some conservatives seem to think they have into Obama's mind and his private thoughts is undoubtedly proof that they're mentally ill (in the clinical sense of the word).

So what you are saying....

If you think like Obama you must be mentally ill.

OK. I can agree with that.


Juist playin with ya.

 

[auditor0007]

Wow, sounds good to me... Maybe the GOP really wants to do meaningful cuts, that would be a nice change.

Any idea how much needs to be cut to get us to a balanced budget? Is it even realistic? Not a fucking chance and if you'd wake up you'd realize it. Please tell us all how to cut $1.7 trillion from the budget. Pigs don't fly, plain and simple. No matter what you might think, Americans don't want us to cut government spending by nearly 50%.

 

[uscitizen]

Then why do they skip an opportunity to save 4 trillion dollars, reduce defense and entitlement spending, and end ethanol and oil subsidies?

How do you propose we cut defense spending?

1. Follow the recommendations provided by the Secretary of Defense.
2. Pull troops out of Iraq and Afghanistan on an expedited schedule.
3. Create an international base-closing commission that resembles the work done with BRAC 20ish years ago.
4. End any support for the Joint Strike Fighter and similar programs.
5. Tie increases in military pay to a chained CPI.
6. I could go on....

We could cut maybe 20% of military spending by just eliminating contractor fraud and waste in the military.

 

[kiwiman127]

Wow, sounds good to me... Maybe the GOP really wants to do meaningful cuts, that would be a nice change.

President Obama currently has medicaid, medicare, and social security cuts on the table. Meanwhile, the GOP won't even close tax loopholes or cut the defense budget. And you think they want to do meaningful cuts?

Ahh... but he doesn't.
Those "cuts" are kicked yeeears down the road...

It seems that the far right leaders in Washington have scared the living shit out of their followers and their follower's posts on these boards reflect the results of the overly used scare tactic
Please note these comments from Daniel Mitchell from the conservative Cato Institute.

"The United States hopefully is not close to becoming either Argentina or Greece, but the trend in recent years is not very encouraging. The burden of government spending has exploded, which, combined with temporarily low tax receipts because of a weak economy, has pushed annual red ink above $1 trillion per year.

The good news is that the deficit situation will get a bit better in coming years. Even modest growth rates will cause revenues to climb (that's the kind of tax increase nobody opposes). Indeed, revenues will soon be above their long-run average, as a share of economic output.

The bad news is that we'll still have too much red ink because the federal government's budget is about twice as big as it was when Bill Clinton left office. Even more worrisome, government borrowing actually will begin to increase again by the end of the decade because of demographic changes such as retiring baby boomers.

The best way to control this red ink while also boosting competitiveness is to cap the growth of government spending. If revenues increase by an average of 7 percent each year (as the president's budget projects, even without tax increases), then we can reduce deficits by making sure spending grows by less than 7 percent annually.

Given the enormous size of the budget deficit, this doesn't solve the problem overnight. If spending was allowed to grow 2 percent each year, the budget wouldn't be balanced until 2021. But it would be a big step on the road to fiscal recovery."

5 Experts Explain How to Solve the Budget Deficit

Please note that this conservative economist isn't pushing the panic button and he's actually talking about spending increases being acceptable based on annual economic growth/revenue growth.

 

[sitarro]

Wow, sounds good to me... Maybe the GOP really wants to do meaningful cuts, that would be a nice change.

President Obama currently has medicaid, medicare, and social security cuts on the table. Meanwhile, the GOP won't even close tax loopholes or cut the defense budget. And you think they want to do meaningful cuts?

Notice how the right wingers skipped right over this? Oh, but it's NOT about race. Sure it's not. Uh huh. Nothing to do with race.

Where's your links dimwit? Prove what you're throwing out here because you have absolutely no credibility.

 

[8537]

I didn't know anyone would be foolish enough to say otherwise. The money has to come from somewhere and someone, and it is paid in higher consumer pricing because a corporation isn't going to take a hit on their profit margains.

That depends on who has the leverage in the transaction. If we placed a $1.00 tax on Coke, Coke wouldn't be able to increase the price of Coke by a $1.00. In markets where Pepsi exists, in fact, they might not be able to raise the price at all. The demand is very elastic in that scenario.

Health care is quite different - the HC provider has almost all the leverage and the demand is almost completely inelastic. Not a lot of substitutes for a heart bypass surgery.

whoa...need to ask you to clarify...

But my take is this...

No reason to EVER increase tax on coke but not ALL soft drink makers.

So increase the tax on soft drink makers by 1.00 a can and I guerantee you, soft drink will increase by 1 dollar a can.

Oh, I disagree. If you increase the tax on all soft drinks by a dollar you'll see the consumer and the producer split the expense, while consumers seek out obvious substitutes - orange juice, water etc....if Coke and Pepsi could both increase their margins by $1.00 without affecting demand for their product they would do so.

 

[Trajan]

How do you propose we cut defense spending?

1. Follow the recommendations provided by the Secretary of Defense.
2. Pull troops out of Iraq and Afghanistan on an expedited schedule.
3. Create an international base-closing commission that resembles the work done with BRAC 20ish years ago.
4. End any support for the Joint Strike Fighter and similar programs.
5. Tie increases in military pay to a chained CPI.
6. I could go on....

We could cut maybe 20% of military spending by just eliminating contractor fraud and waste in the military.

true but thats like medicare/medicaid fraud , they say it every time yea we'll get uit, but they never ever do, they whack off a %, the rest is baked into the cake,....bureaucracies thrive on it...they all do, matters not who's is trying to do the cutting other.

 

[Dot Com]

Wow, sounds good to me... Maybe the GOP really wants to do meaningful cuts, that would be a nice change.

President Obama currently has medicaid, medicare, and social security cuts on the table. Meanwhile, the GOP won't even close tax loopholes or cut the defense budget. And you think they want to do meaningful cuts?

But it's not only that.

McConnell has stated he wants Obama to be a one term President..and now has stated that he won't do a deal until Obama is out of office.

Sounds like he his dictating who the American people should elect next time around.

That's not his place.

Exactly. Remember when he was asked what his priorities were? jobs? Infrastructure rebuilding, HC reform, etc...? No, his priority is to sit on his hands until we get a white.....errr.....different President in office. What a colossal crybaby PLUS he must not like elections as a means of picking Presidents .

 

[Jarhead]

That depends on who has the leverage in the transaction. If we placed a $1.00 tax on Coke, Coke wouldn't be able to increase the price of Coke by a $1.00. In markets where Pepsi exists, in fact, they might not be able to raise the price at all. The demand is very elastic in that scenario.

Health care is quite different - the HC provider has almost all the leverage and the demand is almost completely inelastic. Not a lot of substitutes for a heart bypass surgery.

whoa...need to ask you to clarify...

But my take is this...

No reason to EVER increase tax on coke but not ALL soft drink makers.

So increase the tax on soft drink makers by 1.00 a can and I guerantee you, soft drink will increase by 1 dollar a can.

Oh, I disagree. If you increase the tax on all soft drinks by a dollar you'll see the consumer and the producer split the expense, while consumers seek out obvious substitutes - orange juice, water etc....if Coke and Pepsi could both increase their margins by $1.00 without affecting demand for their product they would do so.

I disagree.

It is their compettition with each other and the other soda manufacturers that keeps the prices in check.....water is an alternative...a free alternative...yet people buy soda for a buck fifty a can

it has been found that people buy based on want ....yes, they comparitive shop, but in the end, they the product.

There are many products that are sold at 4 and 5 times the cost to manufacture.....but people want them so they pay for them.

If all soda was taxed a dollar a can...there would be a slight slow down in sales..and then people will get used to it and buy again.

 

[Mustang]

President Obama currently has medicaid, medicare, and social security cuts on the table. Meanwhile, the GOP won't even close tax loopholes or cut the defense budget. And you think they want to do meaningful cuts?

But it's not only that.

McConnell has stated he wants Obama to be a one term President..and now has stated that he won't do a deal until Obama is out of office.

Sounds like he his dictating who the American people should elect next time around.

That's not his place.

Exactly. Remember when he was asked what his priorities were? jobs? Infrastructure rebuilding, HC reform, etc...? No, his priority is to sit on his hands until we get a white.....errr.....different President in office. What a colossal crybaby PLUS he must not like elections as a means of picking Presidents .

McConnel has proved to America that he's a petty man who doesn't give a rat's ass about America or Americans. He just cares about his power and getting his way. In this "negotiation" (and I am using the term very loosely) it seems that McConnell's only concern is forcing his will on the president. And if America suffers in the process, so what?

 

[MarcATL]

But it's not only that.

McConnell has stated he wants Obama to be a one term President..and now has stated that he won't do a deal until Obama is out of office.

Sounds like he his dictating who the American people should elect next time around.

That's not his place.

Exactly. Remember when he was asked what his priorities were? jobs? Infrastructure rebuilding, HC reform, etc...? No, his priority is to sit on his hands until we get a white.....errr.....different President in office. What a colossal crybaby PLUS he must not like elections as a means of picking Presidents .

McConnel has proved to America that he's a petty man who doesn't give a rat's ass about America or Americans. He just cares about his power and getting his way. In this "negotiation" (and I am using the term very loosely) it seems that McConnell's only concern is forcing his will on the president. And if America suffers in the process, so what?

Exactly!

You got that MFing political weasel pegged.

 

[CrusaderFrank]

Obama's threatened to starve American seniors unless he gets his way.

And what happened to the Social Security Trust Fund?