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The GOP Solution To The Fiscal Cliff, ‘Make The Bush Tax Cuts Permanent!’

Posted by on Dec. 13, 2012 at 8:27 AM
  • 23 Replies

The GOP Solution To The Fiscal Cliff, ‘Make The Bush Tax Cuts Permanent!’

2012/12/12

I don’t CARE that we lost! Gimme what I want!

As we draw ever closer to the dreaded “fiscal cliff” that is nothing of the sort, the GOP is still coming to terms with the fact that they have no leverage whatsoever in these negotiations. They continue to make demands that would be intolerable had they won the election. Here was their first “offer:”

Yes, I can see how the GOP might view this as a compromise. After all, for the last four years, they’ve demanded that Obama give them everything they want or else they’ll tank the economy. That only worked because they had things to hold hostage like the debt ceiling or unemployment insurance. They don’t have any hostages this time and they’re panicking. How do we know they’re panicking? They’re still delivering ultimatums like this:

Washington (CNN) – One of the reasons Tuesday night’s conversation between President Barack Obama and John Boehner did not go well was because the GOP House speaker sent the White House a fiscal cliff proposal calling for a permanent extension of Bush-era tax cuts for all Americans, including for incomes in the top 2%, a Democratic source said Wednesday.


Democrats took the GOP counter offer to mean that tax reform cannot result in any marginal rates higher than current law, according to the source, who said Boehner’s proposal was a “sign” to Democrats that “Boehner and the GOP are unwilling or unable to do any sort of deal that can pass the Senate or be signed by the president.”

It’s not like the idea of raising taxes only on the top 2% of earners is some radical idea that came out of left field. Obama campaigned explicitly on increasing those taxes and won an election on it. Even a slim majority of Republican voters support the idea which means an overwhelming majority of the country wants increased taxes on the wealthy.


Yet, the GOP is demanding that the rich continue to receive a tax cut they do not need.

There is exactly one reason the GOP is terrified of tax rates going up: If they do and the economy does not immediately tank or even tank in the next four years, the entire premise of conservative fiscal ideology collapses. They barely squeaked out of this trap during the Clinton years by pretending the boom of the 90s was completely based on the tech bubble and absolutely nothing else. There is no bubble to save their precious narrative this time. Once those tax rates go up and the world doesn’t end, it will take years for the GOP to reverse the public perception that their fiscal policy is a joke.

The same will be true once we go over the “cliff” and find out that nothing dramatic happened. The “cliff” is just another scare tactic by the GOP to frighten people into pressuring Obama to cave. Unfortunately (for the GOP) it didn’t work and a majority of the country will blame Republicans if taxes go up. Even if a deal is signed later in which 98% of the country gets a new round of cuts, people will still remember that the GOP threw them under the bus for the sake of the rich.

After 30+ years of failed Reaganomics, history could mark this as the moment when the right’s “trickle down” theory was finally exposed as the sham it’s always been. And if the GOP continues to be this recalcitrant over tax cuts for the rich in the face of a severe electoral defeat, it could drag them down as well.

What a shame that would be.

by on Dec. 13, 2012 at 8:27 AM
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Replies (1-10):
yourspecialkid
by Platinum Member on Dec. 13, 2012 at 9:00 AM
4 moms liked this

Old and not quite accurate.

The really big question is why is Obama so set on only raising tax RATES?  Why not close some of those loopholes and end some of the deductions the GOP wants.  Could the answer rest with Google type situations....98% of their donations went to Democrats....and they have used loopholes to legally avoid billions in taxes.

Anyone thinking we can get out of this mess with couch change and no spending cuts needs to retake first grade math.

 

JCB911
by Bronze Member on Dec. 13, 2012 at 10:07 AM
4 moms liked this

instead of focusing on what reps get and dems get perhaps we should focus on what Americans get - jobs, or the loss of,  responsible gov't or lack of, policies based on jealousy or greater fairness

candlegal
by Judy on Dec. 13, 2012 at 10:09 AM
3 moms liked this

How about we cut some of the spending, good place to start since we are borrowing .40 cents for every dollar we spend.

IhaveHisjoy
by Silver Member on Dec. 13, 2012 at 10:11 AM

 Not that I agree..but it would be better than what Obama has come up with, IMO.

brookiecookie87
by Platinum Member on Dec. 13, 2012 at 10:29 AM
1 mom liked this

I am starting to imagine this is a new Republican Talking point.

I have heard President Obama say he wants to close tax Loopholes/deductions. I have not heard him say or read any statments released by him suggesting that is no longer the case.

Can you present anything to support that claim? Because if you don't have any support for that claim then President Obama is not set on ONLY raising tax rates.

And I don't know if you missed it. But there are spending cuts being suggested.

Quoting yourspecialkid:

Old and not quite accurate.

The really big question is why is Obama so set on only raising tax RATES?  Why not close some of those loopholes and end some of the deductions the GOP wants.  Could the answer rest with Google type situations....98% of their donations went to Democrats....and they have used loopholes to legally avoid billions in taxes.

Anyone thinking we can get out of this mess with couch change and no spending cuts needs to retake first grade math.

 


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If they enforced bank regulations like they do park rules, we wouldn't be in this mess

GLWerth
by Gina on Dec. 13, 2012 at 10:31 AM
1 mom liked this

Since most Republicans speak in hushed and reverent tones of the Reagan years and Saint Ronny himself, perhaps we should return to the Reagan tax rates.

Or, perhaps Republicans should come to terms with the fact that they did not win the election.

MsDenuninani
by Silver Member on Dec. 13, 2012 at 10:48 AM
1 mom liked this


Quoting JCB911:

instead of focusing on what reps get and dems get perhaps we should focus on what Americans get - jobs, or the loss of,  responsible gov't or lack of, policies based on jealousy or greater fairness

Amen!

Right now, I'm not paying attention, because both parties right now have to talk about what they want, and call the other group unreasonable, or else it won't look like they're fighting for their constituents.

I firmly believe that there are behind-the-scenes negotiations going on that are far more reasonable than what is being reported in the press.

I think there will be a deal, and no one will be happy with it, which is generally the sign of a good deal.

meriana
by Platinum Member on Dec. 13, 2012 at 11:19 AM
1 mom liked this

What loopholes do the GOP want to close? They've never stated which ones they'd be willing to close or which deductions they'd be willing to eliminate. They wouldn't even agree to eliminating a deduction, credit or whatever it is that only applies to those owning a private jet so I really don't know why anyone would think they'd be willing to close/eliminate any of them, unless of course, they also apply to or only apply to those in the middle and lower income groups. Boehner seems believe that the mega wealthy should have everything they want even if it's at the expense of the other 98% of the population. Spending does need to be cut, however Boehner apparently wants all the cuts to be at the bottom. He and others like him talk about how wrong what they call wealth redistribution is but cutting everything possible from the bottom while keeping everything at the top in place and giving ever more funding to their pet projects IS wealthy redistribution, it simply goes from the bottom to the top. That doesn't encourage a healthy economy unless one thinks those at the very top are the only ones that count.

lga1965
by on Dec. 13, 2012 at 1:36 PM

 WHICH deductions and loopholes? Name them.

And ,,,first grade math? The kids can barely add and subtract in first grade. That's what the GOP is doing now,....

Quoting yourspecialkid:

Old and not quite accurate.

The really big question is why is Obama so set on only raising tax RATES?  Why not close some of those loopholes and end some of the deductions the GOP wants.  Could the answer rest with Google type situations....98% of their donations went to Democrats....and they have used loopholes to legally avoid billions in taxes.

Anyone thinking we can get out of this mess with couch change and no spending cuts needs to retake first grade math.

 

 

pamelax3
by Gold Member on Dec. 13, 2012 at 3:15 PM
1 mom liked this

At the end of the day we Americans are going to pay for all the temper tantrums being thrown in Washington. What poor examples of leadership on both sides

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