Top Repub says okay to raise taxes to pay down debt

[Wiseacre]

I'm okay with this; some might say he's flip flopping, but times and conditions change and so should the positions our leaders take when necessary. I would differ somewhat though with what he's saying in that I would not raise taxes until the economy gets stronger. I would reform our tax code but make it revenue neutral until such time as GDP growth is sustained above a certain benchmark, say 3.5%.


" As a conservative Republican, Lindsey Graham has never had a problem promising not to raise taxes. Like almost every other Republican member of Congress, he has signed the anti-tax pledge put forth by Grover Norquist's group Americans for Tax Reform.
But now Graham says the debt crisis is so severe that the tax pledge — which says no tax loopholes can be eliminated unless every dollar raised by closing loopholes goes to tax cuts -- has got to go.
"When you eliminate a deduction, it's okay with me to use some of that money to get us out of debt. That's where I disagree with the pledge," said Graham.
The Americans for Tax Reform pledge commits signers to "oppose any and all efforts to increase the marginal income tax rates for individuals and/or businesses … and oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates."
Graham said eliminating some deductions should free up money to lower tax rates — but also to pay down U.S. debt. "

Top conservative says read my lips: Don

 

[Truthmatters]

they will just throw him out of the party.

Ths current republican party wants No taxes raised EVER.

They seek the death of our union by starvation

 

[Darkwind]

I disagree with him, obviously.

A better plan would be to reduce the spending of the Federal government by 50% while leaving taxes at the present level and use the difference to pay down the debt.

 

[DiamondDave]

Oh.. I am sure we can raise taxes.. there are ~50% who pay no federal income taxes

 

[TakeAStepBack]

Who says if they receive more reveneue, they will not simply waste it? We didnt get 16 trillion in the hole because of prudent fiscal responsibility. Quite the contrary. They have enough money, learn how to budget and quit making excuses for why you can't continue to the grow the bureaucracy. Fucking statists. They will be the first hung when the next revolt is in full swing.

 

[Dr.Drock]

they will just throw him out of the party.

Ths current republican party wants No taxes raised EVER.

They seek the death of our union by starvation

What is it about the phrase "raise taxes" that gives you such a hard on?

 

[g5000]

Economists on both sides of the political spectrum agree that we are in need of tax reform. We have a profoundly ridiculous number of exemptions, credits, subsidies, carve outs, etc.

If you eliminate these, you can lower the marginal tax rates while remaining revenue neutral.

We should seriously consider eliminating the mortgage interest rate deduction, for example. This deduction is factored into the price of a house. So a phased elimination of this deduction will lower the cost of housing as well as lower and widen the tax base.

As for Graham, yeah, he said last week he had "already crossed the Rubicon" on the tax pledge thing.

He won't be the last. Grover Norquist's days are numbered.

 

[Pho_King]

Most Republicans would go along with "tax increases to pay down the debt". but we are sensible. And demand no new spending programs along with current spending cuts. that is the only way to make sure that tax increases go to pay down the debt, and not to benefit the aggrieved class du jour.

 

[Skull Pilot]

Problem is that a raise in taxes would not go to paying down the debt. The fucking incompetent morons in Washington would find some bullshit project or program to spend the money for and the debt would continue to rise.

 

[Pho_King]

they will just throw him out of the party.

Ths current republican party wants No taxes raised EVER.

They seek the death of our union by starvation

What is it about the phrase "raise taxes" that gives you such a hard on?

The fact that higher taxes means mo free shit.

 

[MuadDib]

It probably is going to be necessary to raise taxes to pay off the debt, but I will not agree to one damned dime of tax increases until I see the corresponding spending cuts.

 

[SniperFire]

In 2013, White House Budget Director Paul Ryan will present America with a workable plan for closing the gap between revenue and spending, but we can't 'grow our way out' of $18 trillion in debt.

The middle class is going to have to start contributing again.

 

[Wiseacre]

It probably is going to be necessary to raise taxes to pay off the debt, but I will not agree to one damned dime of tax increases until I see the corresponding spending cuts.

Neither would I, and it would have to be real cuts too, not the bullshit we got last time. Ain't going to be one for one either, I'd expect at least 3 or 4 dollars cut to 1 dollar of higher taxes. And BTW, why the hell don't we eliminate the tax on overseas profits like every other developed country does? We could infuse this country with well over a trillion dollars that is currently offshore.

 

[Darkwind]

It probably is going to be necessary to raise taxes to pay off the debt, but I will not agree to one damned dime of tax increases until I see the corresponding spending cuts.

It must be much more than a corresponding spending cut. For every dollar raised in taxes, 3 dollars in spending must occur..................FIRST!

and that cutting MUST come from entitlement before Military.

 

[California Girl]

It probably is going to be necessary to raise taxes to pay off the debt, but I will not agree to one damned dime of tax increases until I see the corresponding spending cuts.

Neither would I, and it would have to be real cuts too, not the bullshit we got last time. Ain't going to be one for one either, I'd expect at least 3 or 4 dollars cut to 1 dollar of higher taxes. And BTW, why the hell don't we eliminate the tax on overseas profits like every other developed country does? We could infuse this country with well over a trillion dollars that is currently offshore.

That should be a huge priority - but I can't see it happening.

 

[NYcarbineer]

We didn't raise taxes to pay for the wars when they happened; we borrowed that money, thus effectively deferring payment.

It's only common sense that taxes should be raised to pay for those wars. That's what we did up until the 1980's,

and that's one important reason we didn't have massive long term debt up until the 80's.

 

[NYcarbineer]

Who says if they receive more reveneue, they will not simply waste it? We didnt get 16 trillion in the hole because of prudent fiscal responsibility. Quite the contrary. They have enough money, learn how to budget and quit making excuses for why you can't continue to the grow the bureaucracy. Fucking statists. They will be the first hung when the next revolt is in full swing.

So you're willing to carry the current debt load forever, and pay TAX MONEY in the hundreds of billions on the interest on that debt,

because there's no perfect plan to pay down the debt?

Do you realize that's self-defeating?

 

[peach174]

Who says if they receive more revenue, they will not simply waste it? We didn't get 16 trillion in the hole because of prudent fiscal responsibility. Quite the contrary. They have enough money, learn how to budget and quit making excuses for why you can't continue to the grow the bureaucracy. Fucking statistics. They will be the first hung when the next revolt is in full swing.

So you're willing to carry the current debt load forever, and pay TAX MONEY in the hundreds of billions on the interest on that debt,

because there's no perfect plan to pay down the debt?

Do you realize that's self-defeating?

The Left is what put the brakes on.
Repubs had cuts in the amount of 6 Trillion in ten years. They compromised to 4 trillion and even that was too much by the Left.
The left got their way and only a pittance in cuts by 1.2 trillion in ten years. Then we got a credit downsize because of that.

 

[Truthmatters]

Most Republicans would go along with "tax increases to pay down the debt". but we are sensible. And demand no new spending programs along with current spending cuts. that is the only way to make sure that tax increases go to pay down the debt, and not to benefit the aggrieved class du jour.

History proves your ideas are wrong

 

[Truthmatters]

Who says if they receive more revenue, they will not simply waste it? We didn't get 16 trillion in the hole because of prudent fiscal responsibility. Quite the contrary. They have enough money, learn how to budget and quit making excuses for why you can't continue to the grow the bureaucracy. Fucking statistics. They will be the first hung when the next revolt is in full swing.

So you're willing to carry the current debt load forever, and pay TAX MONEY in the hundreds of billions on the interest on that debt,

because there's no perfect plan to pay down the debt?

Do you realize that's self-defeating?

The Left is what put the brakes on.
Repubs had cuts in the amount of 6 Trillion in ten years. They compromised to 4 trillion and even that was too much by the Left.
The left got their way and only a pittance in cuts by 1.2 trillion in ten years. Then we got a credit downsize because of that.

That is NOT what the people who downgraded us said.