The "balanced" approach to deficit reduction

Quantum Windbag

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May 9, 2010
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Raise taxes $62 billion, spend $68 billion to celebrate.

While President Obama pretended raising taxes on those earning $250,000 $450,000 a year and making the rest of the Bush tax cuts permanent was some kind of achievement in fiscal discipline, he spent more than the revenue those taxes will bring in giving welfare to some of the richest corporations in the world.
The Joint Committee On Taxation estimates the Corporate Welfare or “tax extenders” included in the bill will cost $68 billion in 2013. The tax increases on those making over $450,000 are projected to raise $620 billion over 10 years – meaning in 2013 the restored rate on $450,000 and up will raise roughly $62 billion. So the deal is at best a wash if not a net loss due to the Corporate Welfare inserted into the deal.
The only significant increase in revenues from the “fiscal cliff” deal will come from raising the payroll tax on middle class workers.

Corporate Welfare In ?Fiscal Cliff? Deal More Than New Income Tax Revenue | FDL News Desk

Tell me again we don't have a spending problem.
 
Raise taxes $62 billion, spend $68 billion to celebrate.

While President Obama pretended raising taxes on those earning $250,000 $450,000 a year and making the rest of the Bush tax cuts permanent was some kind of achievement in fiscal discipline, he spent more than the revenue those taxes will bring in giving welfare to some of the richest corporations in the world.
The Joint Committee On Taxation estimates the Corporate Welfare or “tax extenders” included in the bill will cost $68 billion in 2013. The tax increases on those making over $450,000 are projected to raise $620 billion over 10 years – meaning in 2013 the restored rate on $450,000 and up will raise roughly $62 billion. So the deal is at best a wash if not a net loss due to the Corporate Welfare inserted into the deal.
The only significant increase in revenues from the “fiscal cliff” deal will come from raising the payroll tax on middle class workers.
Corporate Welfare In ?Fiscal Cliff? Deal More Than New Income Tax Revenue | FDL News Desk

Tell me again we don't have a spending problem.
What exactly is the "corporate Welfare" or "tax extenders" that the author is speaking about and where did his info come from on this?

I didn't see anything listed in the article, or any kind of clue in the article as to what these "tax extenders" are.....did you?
 
Raise taxes $62 billion, spend $68 billion to celebrate.

While President Obama pretended raising taxes on those earning $250,000 $450,000 a year and making the rest of the Bush tax cuts permanent was some kind of achievement in fiscal discipline, he spent more than the revenue those taxes will bring in giving welfare to some of the richest corporations in the world.
The Joint Committee On Taxation estimates the Corporate Welfare or “tax extenders” included in the bill will cost $68 billion in 2013. The tax increases on those making over $450,000 are projected to raise $620 billion over 10 years – meaning in 2013 the restored rate on $450,000 and up will raise roughly $62 billion. So the deal is at best a wash if not a net loss due to the Corporate Welfare inserted into the deal.
The only significant increase in revenues from the “fiscal cliff” deal will come from raising the payroll tax on middle class workers.
Corporate Welfare In ?Fiscal Cliff? Deal More Than New Income Tax Revenue | FDL News Desk

Tell me again we don't have a spending problem.
What exactly is the "corporate Welfare" or "tax extenders" that the author is speaking about and where did his info come from on this?

I didn't see anything listed in the article, or any kind of clue in the article as to what these "tax extenders" are.....did you?

There are links in the OP.

http://msnbcmedia.msn.com/i/MSNBC/Sections/NEWS/AJDocs/130104_CliffAnalysis.pdf

The House Passes the Fiscal Cliff Deal | Committee for a Responsible Federal Budget
 
Corporate welfare needs to end. We need to close these loopholes and stop the bleeding.

As far as spending cuts, I have the perfect solution:
  • cut the defense budget in half
  • end the wars and bring everybody home
  • close our over 800 bases around the world
 
Corporate welfare needs to end. We need to close these loopholes and stop the bleeding.

As far as spending cuts, I have the perfect solution:
  • cut the defense budget in half
  • end the wars and bring everybody home
  • close our over 800 bases around the world

Plus
Stop the war on drugs
Stop welfare
Stop Obamacare
Stop Medicare
Stop Medicaid
Get rid of income taxes
Get rid of payroll taxes
Replace our tax code with the Fair Tax

Get rid of the Federal Reserve
Outlaw Fractal reserve lending

Outlaw government borrowing
Get rid of retirement and health plans for Congress.

Let me catch my breath.....I have more.
 

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