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The 2nd Term - Round 1 - Diving for Dollars
- Thread starter joecct
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Re: The 2nd Term - Round 1 - Diving for Dollars
Interesting article on the practical political issues that have evolved from Keynsian and supply-side approaches politically:
http://www.weeklystandard.com/articles/real-cliff_666593.html
Interesting article on the practical political issues that have evolved from Keynsian and supply-side approaches politically:
http://www.weeklystandard.com/articles/real-cliff_666593.html
FadeToBlack&Gold
Microlot Marxist
Re: The 2nd Term - Round 1 - Diving for Dollars
Perfect title
Perfect title
Twitch Boy
Defacing this tagline is a MAX foul
Re: The 2nd Term - Round 1 - Diving for Dollars
House to reconvene at noon tomorrow.
House to reconvene at noon tomorrow.
Re: The 2nd Term - Round 1 - Diving for Dollars
About Keynesian economics. Somewhere I think somebody got confused and is now trying Keynasian economics.
Not THIS Congress, but the NEXT Congress gets the pay raise. So they get a raise BEFORE they get the opportunity to screw it up.
About Keynesian economics. Somewhere I think somebody got confused and is now trying Keynasian economics.
walrus
Wind up workin' in a gas station
Re: The 2nd Term - Round 1 - Diving for Dollars
This one or the next one, either way don't deserve spit.
Twitch Boy
Defacing this tagline is a MAX foul
Re: The 2nd Term - Round 1 - Diving for Dollars
Senate has reached an agreement on the fiscal cliff, House not in session until tomorrow.
Senate has reached an agreement on the fiscal cliff, House not in session until tomorrow.
FadeToBlack&Gold
Microlot Marxist
Re: The 2nd Term - Round 1 - Diving for Dollars
Lake State disapproves, apparently.
Lake State disapproves, apparently.
Twitch Boy
Defacing this tagline is a MAX foul
Re: The 2nd Term - Round 1 - Diving for Dollars
I'm going to double down on my previous statement.
YOLO.
I'm going to double down on my previous statement.
YOLO.
Re: The 2nd Term - Round 1 - Diving for Dollars
IMO Congress absolutely deserves to be compensated well...those in congress are more important to this country than any CEO. That is assuming they can get their act together. Its called pay for performance.
I wish Reid would just shut up. Statements like this are all about Harry Reid:
"Glad it's over," said Senate Majority Leader Harry Reid, D-Nevada, after the vote. "We'll see if the Republicans in the House can become functional instead of dysfunctional."
IMO Congress absolutely deserves to be compensated well...those in congress are more important to this country than any CEO. That is assuming they can get their act together. Its called pay for performance.
I wish Reid would just shut up. Statements like this are all about Harry Reid:
"Glad it's over," said Senate Majority Leader Harry Reid, D-Nevada, after the vote. "We'll see if the Republicans in the House can become functional instead of dysfunctional."
Re: The 2nd Term - Round 1 - Diving for Dollars
Interesting that Harry was bypassed in the settlement with Biden working with McConnell to craft the deal. IMO, this is a dressed up can that just got kicked down the road. We got modest tax increases with no meaningful spending cuts.
Now it's up to the House to cut spending. Good luck on that one.
Interesting that Harry was bypassed in the settlement with Biden working with McConnell to craft the deal. IMO, this is a dressed up can that just got kicked down the road. We got modest tax increases with no meaningful spending cuts.
Now it's up to the House to cut spending. Good luck on that one.
Re: The 2nd Term - Round 1 - Diving for Dollars
I assume spending cuts can happen now. Better happen.
Here's the bill per CNN:
-- Taxes would stay the same for most Americans. But it will rise for individuals making more than $400,000 and couples making more than $450,000. For them, it will go from the current 35% to the Clinton-era rate of 39.6%.
-- Itemized deductions would be capped for those making $250,000 and for married couples making $300,000.
-- Taxes on inherited estates will go up to 40% from 35%.
-- Unemployment insurance would be extended for a year for 2 million people.
-- The alternative minimum tax -- a perennial issue -- would be permanently adjusted for inflation.
-- Child care, tuition and research and development tax credits would be renewed.
-- The "Doc Fix" -- reimbursements for doctors who take Medicare patients -- will continue, but it won't be paid for out of the Obama administration's signature health care law.
-- Prevents a spike in milk prices. Agriculture Secretary Tom Vilsack said milk prices would have doubled to $7 a gallon because a separate agriculture bill had expired.
I assume spending cuts can happen now. Better happen.
Here's the bill per CNN:
-- Taxes would stay the same for most Americans. But it will rise for individuals making more than $400,000 and couples making more than $450,000. For them, it will go from the current 35% to the Clinton-era rate of 39.6%.
-- Itemized deductions would be capped for those making $250,000 and for married couples making $300,000.
-- Taxes on inherited estates will go up to 40% from 35%.
-- Unemployment insurance would be extended for a year for 2 million people.
-- The alternative minimum tax -- a perennial issue -- would be permanently adjusted for inflation.
-- Child care, tuition and research and development tax credits would be renewed.
-- The "Doc Fix" -- reimbursements for doctors who take Medicare patients -- will continue, but it won't be paid for out of the Obama administration's signature health care law.
-- Prevents a spike in milk prices. Agriculture Secretary Tom Vilsack said milk prices would have doubled to $7 a gallon because a separate agriculture bill had expired.
Handyman
Hug someone you care about...
mookie1995
there's a good buck in that racket.
Re: The 2nd Term - Round 1 - Diving for Dollars
what happens to soc sec withholding?
what happens to soc sec withholding?
Goes back to the old rate.
mookie1995
there's a good buck in that racket.
Re: The 2nd Term - Round 1 - Diving for Dollars
so much for lower income and middle class taxpayers not getting the shaft
so much for lower income and middle class taxpayers not getting the shaft
Re: The 2nd Term - Round 1 - Diving for Dollars
I can live with the deal, but its fascinating what's going on in the House. This vote if passed essentually breaks the back of knuckledragger conservatism. Worse it will pass on their watch, unlike the last time they voted for an increase in 1990 when they were in the minority. The primaries ought to be a hoot next year, as Chambliss, Graham, etc just guaranteed a challenge from the right. Bottom line though is anybody who votes Republican should be horse whipped. They are the biggest collection of sh ! theads to ever grace Washington.
Other thoughts:
Too much whining out of liberals. Payroll tax cut was unstainable. With that expiring I believe it has the biggest effect on revenue. Combine that with raising the rates and upping cap gains and estate taxes and we're on our way to 2T in revenues even before taking up The Boner's idea to broaded the tax case and eliminating gimmicky tax breaks to oil and agriculture industry.
So, with 2T in taxes and 2T in spending (1T previous agreement, mostly end of war spending, 1T sequestration which is still with us but delayed 2 months) you've reduced 4T in deficit before agreements on broadening tax base or means testing entitlements. That's not too shabby.
Finally, I still say The Boner cobbles together 24 old geezers to pass bill and then quits. Cantor has come out against, so will Ryan. If he's that useless he needs to quit.
I can live with the deal, but its fascinating what's going on in the House. This vote if passed essentually breaks the back of knuckledragger conservatism. Worse it will pass on their watch, unlike the last time they voted for an increase in 1990 when they were in the minority. The primaries ought to be a hoot next year, as Chambliss, Graham, etc just guaranteed a challenge from the right. Bottom line though is anybody who votes Republican should be horse whipped. They are the biggest collection of sh ! theads to ever grace Washington.
Other thoughts:
Too much whining out of liberals. Payroll tax cut was unstainable. With that expiring I believe it has the biggest effect on revenue. Combine that with raising the rates and upping cap gains and estate taxes and we're on our way to 2T in revenues even before taking up The Boner's idea to broaded the tax case and eliminating gimmicky tax breaks to oil and agriculture industry.
So, with 2T in taxes and 2T in spending (1T previous agreement, mostly end of war spending, 1T sequestration which is still with us but delayed 2 months) you've reduced 4T in deficit before agreements on broadening tax base or means testing entitlements. That's not too shabby.
Finally, I still say The Boner cobbles together 24 old geezers to pass bill and then quits. Cantor has come out against, so will Ryan. If he's that useless he needs to quit.
unofan
Well-known member
Re: The 2nd Term - Round 1 - Diving for Dollars
It should've never been lowered in the first place without a concurrent cut in benefits.
It should've never been lowered in the first place without a concurrent cut in benefits.
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