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(Talking Points Memo)   CBO: "Letting the tax cuts for the wealthy expire is the least harmful thing to the economy we can do." So obviously, Congress will do the exact opposite   (tpmdc.talkingpointsmemo.com) divider line 95
    More: Interesting, Congressional Budget Office, tax cuts  
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1193 clicks; posted to Politics » on 09 Nov 2012 at 10:52 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-11-09 10:51:08 AM  
Did the Obvious tag budget get slashed?
 
2012-11-09 10:54:09 AM  

gameshowhost: Did the Obvious tag budget get slashed?


as well as the asinine tag, unlikely tag and the florida tag (because why not?)
 
2012-11-09 10:55:05 AM  
So this is "the CBO is an evil corrupt socialism Democrat party lapdog" week, right?
 
2012-11-09 10:55:42 AM  

that bosnian sniper: So this is "the CBO is an evil corrupt socialism Democrat party lapdog" week, right?


Reality does have a well-known liberal bias.
 
2012-11-09 10:55:53 AM  
Only one side of the congress. Keep that in mind.
 
2012-11-09 10:56:52 AM  
No, The Republican told me that letting the tax breaks expire on the richest Americans would destroy our economy; BILLIONS of jobs would be lost.

And since the Republicans wouldn't lie about something like that, the CBO is clearly wrong.
 
2012-11-09 10:58:02 AM  

jcb274: that bosnian sniper: So this is "the CBO is an evil corrupt socialism Democrat party lapdog" week, right?

Reality does have a well-known liberal bias.


And anyone who reports it must be attacked based on their size and tone of voice.
 
2012-11-09 10:59:05 AM  
Well, Duh.
 
2012-11-09 10:59:57 AM  
I'm ready for the cuts to expire. Who's with me!


Bring it on!

encrypted-tbn1.gstatic.com
 
2012-11-09 11:00:30 AM  
Obama should give a fireside chat and announce "I've decided to raise taxes on the wealthy, but just two of them: Donald Trump and Sheldon Adelson."
 
2012-11-09 11:00:33 AM  

BigBooper: No, The Republican told me that letting the tax breaks expire on the richest Americans would destroy our economy; BILLIONS of jobs would be lost.

And since the Republicans wouldn't lie about something like that, the CBO is clearly wrong.


The republicans actually believed they had a lead going into election day when consensus among the experts said otherwise. Their inability to gather and interpret simple data makes their opinions worthless.
 
2012-11-09 11:00:59 AM  

JusticeandIndependence: I'm ready for the cuts to expire. Who's with me!


Bring it on!

[encrypted-tbn1.gstatic.com image 203x241]


Want some popcorn? Seems like the right-wing butthurt is going to take some time to expire.
 
2012-11-09 11:01:38 AM  
Those are the "tax raises" Boehner briefly mentioned being open to yesterday. (He's probably walked back that comment since)
 
2012-11-09 11:03:21 AM  

CygnusDarius: JusticeandIndependence: I'm ready for the cuts to expire. Who's with me!


Bring it on!

[encrypted-tbn1.gstatic.com image 203x241]

Want some popcorn? Seems like the right-wing butthurt is going to take some time to expire.


Sure. got any white cheddar?
 
2012-11-09 11:03:25 AM  
GOP: "CBO states that letting the tax cuts for the rich will be harmful to the economy."
 
2012-11-09 11:03:33 AM  

JusticeandIndependence: I'm ready for the cuts to expire. Who's with me!


Let's the tax cuts expire. Then pass the Obama tax cut for the middle class. Boom. If Republican pull their usual shiat, then not only are they holding tax cuts hostage, they're indisputably and actively trying to implode the economy.

Obama has the GOP in the figure-4 over this. If Dems cave, it will be the most egregious and cowardly defeat in their history.
 
2012-11-09 11:04:46 AM  
O to speak on the subject at 1:05PM EST Link
 
2012-11-09 11:05:51 AM  

somedude210: gameshowhost: Did the Obvious tag budget get slashed?

as well as the asinine tag, unlikely tag and the florida tag (because why not?)


The Florida tag is part of that red state welfare thing. The unlikely tag suffers from racial prejudice.
 
2012-11-09 11:06:33 AM  
Obama, and every Democrat, should pound on this point every time they're near a microphone from now through the end of the year.

Some points to hit:

The rates go back to what they were under Clinton, close to historic lows
People talk about reducing the debt, this is a step
Growth in income inequality since the tax rates were slashed in the 1980s
Clinton had a budget surplus when Bush II took office, before Bush slashed taxes, started two unfunded wars, and increased entitlement programs
Trickle down doesn't work, growth comes from a healthy middle class

Other?
 
2012-11-09 11:11:21 AM  

TofuTheAlmighty: they're indisputably and actively trying to implode the economy.


Has this really been in dispute? By thinking individuals, I mean.
 
2012-11-09 11:18:30 AM  
More like the liberal budget office.
 
2012-11-09 11:19:01 AM  
Well, that's it. There's no incentive left to be wealthy. Might as well walk away from the mansion and go lie down in a cot in some shanty in Cambodia shivering and sharting on yourself from dengue fever. Obama's pretty much made it the same existence.
 
2012-11-09 11:20:28 AM  

InmanRoshi: Well, that's it. There's no incentive left to be wealthy. Might as well walk away from the mansion and go lie down in a cot in some shanty in Cambodia shivering and sharting on yourself from dengue fever. Obama's pretty much made it the same existence.


I'm curious how the rich managed to survive when their tax rate was 92%.
 
2012-11-09 11:20:45 AM  

Boxcutta: More like the liberal budget office.


Unless they agree with you....


Link
 
2012-11-09 11:21:34 AM  
Can we compromise by not cuttting as much out of defense spending and allowing tax cuts to expire for the wealthy?

No? Okay. Awesome.
 
2012-11-09 11:22:03 AM  

jasimo: Obama, and every Democrat, should pound on this point every time they're near a microphone from now through the end of the year.

Some points to hit:

The rates go back to what they were under Clinton, close to historic lows
People talk about reducing the debt, this is a step
Growth in income inequality since the tax rates were slashed in the 1980s
Clinton had a budget surplus when Bush II took office, before Bush slashed taxes, started two unfunded wars, and increased entitlement programs
Trickle down doesn't work, growth comes from a healthy middle class

Other?


I would make it a point to put it squarely in congress' lap. They can't screw the whole thing up and blame him for "lack of leadership." If the automatic cuts happen, everyone in the country will suffer.
 
2012-11-09 11:22:04 AM  

mgshamster: InmanRoshi: Well, that's it. There's no incentive left to be wealthy. Might as well walk away from the mansion and go lie down in a cot in some shanty in Cambodia shivering and sharting on yourself from dengue fever. Obama's pretty much made it the same existence.

I'm curious how the rich managed to survive when their tax rate was 92%.


I'm also curious why the right believe that wealth needs to be incentivized when WEALTH IS THE FARKING INCENTIVE.
 
2012-11-09 11:23:03 AM  
So....did Boner just flat out lie? He's holding a press conference where he says that the CBO reports that the MOST harmful thing the government can do is to raise taxes.

If this isn't outright lying, it's incredibly misleading and a HUGE sign that the Republicans didn't learn a goddamn thing from the election.
 
2012-11-09 11:23:23 AM  

mgshamster: InmanRoshi: Well, that's it. There's no incentive left to be wealthy. Might as well walk away from the mansion and go lie down in a cot in some shanty in Cambodia shivering and sharting on yourself from dengue fever. Obama's pretty much made it the same existence.

I'm curious how the rich managed to survive when their tax rate was 92%.


I've worked since I was 15, and even with a Master's degree, I can't afford anything but a small house. Can I have your mansion after you abandon it?
 
2012-11-09 11:24:18 AM  

JusticeandIndependence: I'm ready for the cuts to expire. Who's with me!


Bring it on!

[encrypted-tbn1.gstatic.com image 203x241]


The problem is that if nothing is done, the middle class is going to take it up the a** hard. The rich can afford to pay the higher taxes. The middle class on the other hand can't afford to pay several thousand dollars in new taxes. If the Republicans block any compromise to protect the 1%, the economy will tank, and we will probably end up in a new recession.

I wonder what the mid term elections in 2014 look like if that happens.

/the term "blood bath" comes to mind
 
2012-11-09 11:25:51 AM  

BigBooper: JusticeandIndependence: I'm ready for the cuts to expire. Who's with me!


Bring it on!

[encrypted-tbn1.gstatic.com image 203x241]

The problem is that if nothing is done, the middle class is going to take it up the a** hard. The rich can afford to pay the higher taxes. The middle class on the other hand can't afford to pay several thousand dollars in new taxes. If the Republicans block any compromise to protect the 1%, the economy will tank, and we will probably end up in a new recession.

I wonder what the mid term elections in 2014 look like if that happens.

/the term "blood bath" comes to mind


Just how much do you think the Bush tax cuts were?
 
2012-11-09 11:27:00 AM  
Fox News anchor: "Is the CBO in lockstep with Al Qaeda? We'll find out more after the top of the hour. Right now we'll leave you with the Meat Loaf and Hank Williams, Jr. duet singing 'Freedom is Lost, America is Blue.'"
 
2012-11-09 11:27:46 AM  
Did someone say CBO?

i120.photobucket.com
 
2012-11-09 11:27:54 AM  
Interesting???

How about blindingly freaking obvious!
 
2012-11-09 11:31:24 AM  

ModernPrimitive01: mgshamster: InmanRoshi: Well, that's it. There's no incentive left to be wealthy. Might as well walk away from the mansion and go lie down in a cot in some shanty in Cambodia shivering and sharting on yourself from dengue fever. Obama's pretty much made it the same existence.

I'm curious how the rich managed to survive when their tax rate was 92%.

I've worked since I was 15, and even with a Master's degree, I can't afford anything but a small house. Can I have your mansion after you abandon it?


I do scientific research for a living. You think I make a lot of money with that? Hell no.

/Or did you quote the wrong person?
 
2012-11-09 11:32:32 AM  

BigBooper: /the term "blood bath" comes to mind


Link
 
2012-11-09 11:37:39 AM  

JusticeandIndependence: BigBooper: JusticeandIndependence: I'm ready for the cuts to expire. Who's with me!


Bring it on!

[encrypted-tbn1.gstatic.com image 203x241]

The problem is that if nothing is done, the middle class is going to take it up the a** hard. The rich can afford to pay the higher taxes. The middle class on the other hand can't afford to pay several thousand dollars in new taxes. If the Republicans block any compromise to protect the 1%, the economy will tank, and we will probably end up in a new recession.

I wonder what the mid term elections in 2014 look like if that happens.

/the term "blood bath" comes to mind

Just how much do you think the Bush tax cuts were?


There's more than the Bush Tax cuts on the line here. The Republicans are holding up a fix to the AMT, and were also looking at the automatic cuts hitting at the same time. I can't find the farking article of course, but one that I read put the cost on a family of four earning $75,000 at about $4,000 in new taxes. CBO forecasts a jump in the unemployment rate to 9.1%; costing the economy 800,000 lost jobs.

I'll keep looking for that article
 
2012-11-09 11:40:29 AM  

Lelo34: So....did Boner just flat out lie? He's holding a press conference where he says that the CBO reports that the MOST harmful thing the government can do is to raise taxes.

If this isn't outright lying, it's incredibly misleading and a HUGE sign that the Republicans didn't learn a goddamn thing from the election.


They suppressed the study which showed cutting rich peoples' taxes does less to stimulate growth than $5 handies in the alley behind the Kum-N-Go. It's been party dogma for 30-40 years that tax cuts stimulate growth. With the GOP still in control of the House, they're not likely to abandon dogma - it'll take a drubbing, a real sea-change election or two for them to come back to reality on taxes.

The only thing the GOP understands is defeat. For total understanding, we need to totally defeat them.
 
2012-11-09 11:42:34 AM  

InmanRoshi: mgshamster: InmanRoshi: Well, that's it. There's no incentive left to be wealthy. Might as well walk away from the mansion and go lie down in a cot in some shanty in Cambodia shivering and sharting on yourself from dengue fever. Obama's pretty much made it the same existence.

I'm curious how the rich managed to survive when their tax rate was 92%.

I'm also curious why the right believe that wealth needs to be incentivized when WEALTH IS THE FARKING INCENTIVE.


^^^

The one thing you can't buy is victimhood. And rich people are very angry about it.
 
2012-11-09 11:43:59 AM  

Problems for economy, in order of seriousness: (1) widening inequality and declining real wages, (2) high unemployment, (3) budget deficit.

- Robert Reich (@RBReich) November 9, 2012
 
2012-11-09 11:44:45 AM  

Snatch Bandergrip: InmanRoshi: mgshamster: InmanRoshi: Well, that's it. There's no incentive left to be wealthy. Might as well walk away from the mansion and go lie down in a cot in some shanty in Cambodia shivering and sharting on yourself from dengue fever. Obama's pretty much made it the same existence.

I'm curious how the rich managed to survive when their tax rate was 92%.

I'm also curious why the right believe that wealth needs to be incentivized when WEALTH IS THE FARKING INCENTIVE.

^^^

The one thing you can't buy is victimhood. And rich people are very angry about it.


They're so angry about it, it's almost like their victims of an inability to be a victim! We should feel pity for them.
 
2012-11-09 11:48:51 AM  

Dr Dreidel: Lelo34: So....did Boner just flat out lie? He's holding a press conference where he says that the CBO reports that the MOST harmful thing the government can do is to raise taxes.

If this isn't outright lying, it's incredibly misleading and a HUGE sign that the Republicans didn't learn a goddamn thing from the election.

They suppressed the study which showed cutting rich peoples' taxes does less to stimulate growth than $5 handies in the alley behind the Kum-N-Go. It's been party dogma for 30-40 years that tax cuts stimulate growth. With the GOP still in control of the House, they're not likely to abandon dogma - it'll take a drubbing, a real sea-change election or two for them to come back to reality on taxes.

The only thing the GOP understands is defeat. For total understanding, we need to totally defeat them.


Well, this is how the GOP works: when they don't like the message, kill the messenger. (Sorry for the video link playing an ad before it)
 
2012-11-09 11:56:24 AM  

mayIFark: Only one side of the congress. Keep that in mind.


Just how is that one half going to stop it? The cuts expire. Nothing new is going to pass. The Democrats don't NEED both houses this time. All they have to do is pass a new bill giving the same cuts to everyone but the rich, and wait for the old bill to expire. Then the GOP is faced with opposing a cut for lower and middle class earners.
 
2012-11-09 12:00:23 PM  
big difference between "least harmful" and "harmless"
 
2012-11-09 12:01:42 PM  

Emposter: Then the GOP is faced with opposing a cut for lower and middle class earners.


They've done it before and they'll do it again. Being seen working with the President is now more toxic to them than being seen raising taxes on the lower and middle classes.
 
2012-11-09 12:02:29 PM  
FTFA
"CBO doesn't examine the top bracket Bush tax cuts directly. But it does look at two competing scenarios: One where all of the expiring tax cuts except for the payroll tax cut are extended; another where all of the expiring tax cuts except for the payroll tax cut and the Bush tax cuts for top earners are extended."

Trolltastic headline there man
 
2012-11-09 12:07:05 PM  

Emposter: mayIFark: Only one side of the congress. Keep that in mind.

Just how is that one half going to stop it? The cuts expire. Nothing new is going to pass. The Democrats don't NEED both houses this time. All they have to do is pass a new bill giving the same cuts to everyone but the rich, and wait for the old bill to expire. Then the GOP is faced with opposing a cut for lower and middle class earners.


Difficulty, the Senate needs a spending/revenue bill the House passed(since they have to originate in the House), then gut it, then add the new language to the bill and see if the House Republicans oppose.
 
2012-11-09 12:12:45 PM  

LouDobbsAwaaaay: Emposter: Then the GOP is faced with opposing a cut for lower and middle class earners.

They've done it before and they'll do it again. Being seen working with the President is now more toxic to them than being seen raising taxes on the lower and middle classes.


^This

Any Republican that works with the President, or compromises in any way is labeled a rino, and is challenged by the tea party in the next party primary. That's where we got all the "legitimate rape" candidates this election cycle. The extremists in the Republican party have taken over, and are purging any moderates. In the end this destroy the Republican party.

Of course they may end up taking the nation down the shiater with them.
 
2012-11-09 12:15:28 PM  
Does anyone have a link to this Ernst&Young Study that the Oompa Loompa keeps referencing that says ending these tax cuts will kill 700,000 jobs?
 
2012-11-09 12:27:31 PM  

BigBooper: LouDobbsAwaaaay: Emposter: Then the GOP is faced with opposing a cut for lower and middle class earners.

They've done it before and they'll do it again. Being seen working with the President is now more toxic to them than being seen raising taxes on the lower and middle classes.

^This

Any Republican that works with the President, or compromises in any way is labeled a rino, and is challenged by the tea party in the next party primary. That's where we got all the "legitimate rape" candidates this election cycle. The extremists in the Republican party have taken over, and are purging any moderates. In the end this destroy the Republican party.

Of course they may end up taking the nation down the shiater with them.


A few retiring Republicans have said they're quitting because they can't deal with the extreme partisanship and the extremists in their own party.

What we HAVEN'T seen, and what would be the coolest thing ever, is for a sitting Republican House member or Senator to snap and call out the Teapartiers and the extremists WHILE STILL SERVING.

"I called this press conference to denounce the extremism within my own party that puts partisanship ahead of the good of the country. I realize that I'm committing political suicide here, but I can no longer stand by and witness the destruction of this country at the hands of those who would choose political gain over the greater good....."

Damn unlikely, I know, but that would be awesome.
 
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