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Subscribe to RSSThe Republican co-chairman of the supercommittee, Texas Rep. Jeb Hensarling, pressed committee Democrats this morning to respond to what he said were "considerable concessions" from Republicans this week on taxes.
Hensarling said that Democrats' insistence on $1 trillion in new revenue wasn't acceptable to Republicans. The GOP, said Hensarling, wants to see more reforms to health care spending.
"What we still haven't seen from the Democrats is a plan that deals with our structural debt crisis that actually solves the problem," he said. "And unfortunately we've never seen any reforms that would save and secure our health care programs that weren't attached to a trillion dollars worth of tax increase which we believe is ultimately going to harm job growth."
He said committee members are still talking.
Hensarling's comments followed the release on Wednesday night of a new deficit reduction plan on Wednesday evening that would reduce the deficit by $2.3 trillion by combining $1 trillion in new revenue with another$1 trillion in cuts and an additional $300 billion in lower interest costs.
According to Democratic aides, the plan was quickly rejected by the GOP committee members.
The $1 trillion in tax revenues in the Dems newest plan would be mostly achieved through a mandate that tax reform be completed by January 1st, 2013, according to aides. If tax reform wasn't achieved by that date, a "trigger" would automatically kick in with $650 billion dollars in tax increases that would be set in advance by the supercommittee.
The last 24 hours underscore just how much gamesmanship has become a part of the supercommittee deliberations as the 12-member panel approaches its Nov. 23 deadline. The Democrats on the committee earlier this week, for instance, rebuffed a Republican offer of $300 billion in new revenue as "insane."
But GOP members of the supercommitte have cast that offer as a significant concession. Sen. Pat Toomey (R-PA), a member of the supercommittee, detailed the GOP offer during an appearance Thursday morning on Morning Joe.
Toomey confirmed Republicans want to make the Bush tax cuts permanent and lower the top individual tax rate to 28 percent. They would offset that lost revenue with an overhaul of the tax code that would place limits on itemized deductions, tax write-offs and close loopholes. Some of the money captured from the tax overhaul could go to deficit reduction, he said.
Toomey told the Morning Joe panel, "We've recommended the top rate come down to 28 and other rates come down commensurately. That's the ballpark of where the bipartisan commissions have come out on this. And then lets offset that lost revenue by reducing the size of the value of the deductions that people could take and for the very upper income brackets we could reduce that by a little bit more than what it would take to get to revenue neutral and in the process generate some revenue for deficit reduction"
Toomey argued that the Republican change on taxes should be a sign to Democrats that Republicans are ready to cut a deal. "It's an indication of how much we want to find an agreement here," he said.
When asked if he thinks the committee will reach a deal, he said "its not too late - but the clock, its getting late."
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Let the automatic cuts go into play!
SOTB has been mesmerized by The Faux News Corporation
FAIL!
Winners don't negotiate with losers. When in life does that happen..I'll answer that for my liberal democrat posters...NEVER. The PEOPLE spoke last November. We wanted our Representatives to stop the madness, and so far they have done a good job. We reject the notion that Obama has the answers. He had full control of the house and senate and still couldn't get democrats to do anything that actually helped put on on a track to succeed. He already had a trillion to spend...it did nothing...now he wants a half a trillion for "jobs"....what makes any liberal democrap think this will help after the failed stimulus "1 "...The Tea Party is changing Washington for the betterment of us all... drmrguy....how about getting rid of the Shumers and Pelosi. and the rest of the extreme left...
Why is it when Democrats say no to a legitimate Republican sponsored bill, we here nothing but crickets...When the Republicans say no to failed policy bills it's obstructionism...
I love not being able to undo my check mark. sigh...
anyway Let's set the Record straight about this notion that the democrats should have been able to get legislation through in the previous congress.
While the Democrats had the majority in the last congress, The Majority tightened up in case you fail to recall.
The Democrats lost Senator Ted Kennedy To Cancer. The Lion of the senate. And they also lost Senator Robert Byrd. These losses affected the dems majority. The Less votes they actually had. The Less chance they had of getting anything done against the other side, which indeed is a DO NOTHING congress and continues to be.
As Always it is a numbers game at Election time, and the fact is there are more idiots than there are intelligent people in the US right now.
Debating this though will do no good.
But be warned that a message was sent on Tuesday Night, That the Republicans have done nothing except Obstruct and step on the constitution and America is not going to tolerate it.
The House will be back in the hands of the Democrats, giving the President control of both bodies this time, and this time around there's a huge difference. BIPARTISANSHIP FAILED! thanks to Republican Stonewalling. This time around The President Won't be playing around and he will do WHAT AMERICA WANTS! and ignore what Republicans Want. He tried going down the middle and it failed. Those days are behind him. Look at a 2nd term FDR card this time around, because it's coming and I'm glad!
Robert that was the most crack rock stimulated post I read all day......Hey their calling you back to the drive thru...you make us better understand what stupid really is...Thank you
Richard we borrow 4 BILLION a day, everyday .....So after your fearless hack in chief gets control again how much will he spend....We borrow 40cents of every dollar government spends....what your mindless rant says is...you do not have a clue what it takes to make this country strong again....
Hmm.... Most Drive Thru's don't interest me now due to my biblical belief that it is against God's law to eat Swine and since Bacon is derived from swine, you get the picture. Burgers are pretty much OUT!, Tacos on the other hand with Beef or Burritos with Beef. Now we are talking. Make fun of my weight all you want. Doesn't change my IQ to yours which is just pure awesomeness!
We Will see what Happens November 6, 2012
In the meantime, I do want to edit a statement in that last part, because I posted it ass backward, The Intelligent People are the majority, you on the other hand poster above me, have yet to show me which side you fall on, Insults have me leaning one way, but I'm not ready to give up hope. There is only 3 people on the stupidity list. I'd advise you stay off of it. They are John Boehner, Eric Cantor, Mitch McConnell.
Please prove to me scott that you can hold intelligent conversation. Stay off my stupid list.
scottfl,
You are excused...please leave by the nearest exit. By the time 3:09 CT comes around we are well aware of what the talking points are because we have seen them a thousand times from your comrade sheeple.
You accuse a poster of illegalities and expect to be taken seriously??
Please return to your friendly fox blog. You may have missed a talking point and wouldn't that be a shame?
The repugnicrites have no souls. And they think the American people who do not watch FOX have no brains.
Apparently the leadership of the Party of Harm only watches FOX along with it's sheeple for it has not yet learned that the elections around the country Tuesday proved that The American People DO NOT FAVOR THEIR UNHOLY AGENDA!!!!!!!!!!!
humans matter
French libertarian philosopher Frederic Bastiat who influenced many Americans nailed liberals like yourself in his book, the Law
“Socialism, like the ancient ideas from which it springs, confuses the distinction between government and society. As a result of this, every time we object to a thing being done by government, the socialists conclude that we object to its being done at all.
We disapprove of state education. Then the socialists say that we are opposed to any education. We object to a state religion. Then the socialists say that we want no religion at all. We object to a state-enforced equality. Then they say that we are against equality. And so on, and so on. It is as if the socialists were to accuse us of not wanting persons to eat because we do not want the state to raise grain.”
Larry Robinson-1323081, I read your quote from Frederic Bastiat and I disagree totally. There are certain things done for the common good that can only be done by the government. Would you like to privatize street building and upkeep in your town? They decide to take your property to build a street, what are you going to do? Go to the government to complain? Riiight. How come all the financial institutions found out they LOVED socialism when it came to pulling their posteriors out of the fire, but then went back to hating it?
Here's a better quote:
Still absolutely true after all these years!
Larry Robinson,
Next time you wish to spout an opinion just hit post comment.
You are a typical hypocrite repugnant sheeple. What you typed has exactly ZERO to do with my comment and so, therefore, is not a reply
The people voted out many of the repugnicrites' agenda. If that is too much for you to comprehend, go to back to school.
Eglide, thanks and well said.
The GOPs do not have the same political capital they gained in 2010. The tables have turned since then. Just look at the Occupy Wall Street protesters across this country and the political results on Tuesday. I hope the Democrats stay strong so the public will continue to support them. We know that the conservatives without consciences only care about themselves and wealthy benefactors. The public is on to the game that they are playing and are fighting back. Lowering the highest tax bracket to 28% and making the Bush tax cuts permanent will only make the disparity between the 1%ers and the 99ers even greater. Also, the GOPs did not include changing the capital gains tax rate, which is lower, but they propose raising the age for SS. They can fool some of the people some of the time but not all of the people all of the time. Enough is enough. What did Bush do with the surplus from SS? Did he use these monies for the 2 wars, especially one which we went into for greed and oil and not qualified intelligence? Hold on Democrats and you will be on the side of the people who put you in office. John Boehner and Mitch McConnell look what the voters from your two states said on Tuesday or are you so self-centered that you just do not care?
With the Super Committee, failure is an option. Republicans keep pushing for worse than failure.
This nonsense from the Republicans is pure nonsense. Obama must no agree to this fakery!!!!
I have great respect for some Republican Presidential candidates..but I will ride far and wide to stop the destruction fostered by the third party tea partiers.
No sweat, obama will NEVER agree to any thing that takes away his spending, even if the democraps agree, obama will veto it.
Don't call Democrats democraps and we will not hate everything you have to say. President Obama will veto what he should and Harry Reid will stop the hateful anti-environmental attacks that are tacked on to all bills that have come from the House.
Hello!!! GOP - not all Americans are stupid...
Lowering the tax rates to 28% for the rich is symbolic at best and an outright slap in the face at worst... the rich don't have "income" and they don't buy anything (when's the last time Bill Gates, Rupert Murdock, etc.. were seen at a car dealership haggling over prices???), they have Foundations that make tax-free purchases for their personal use - those items are then depreciated each year until they are written off... (oftentimes sold to the benefactor for $1 - i.e. Sarah Palin's million dollar home in Arizona, for example).
You can't tax people for things they haven't bought and money they haven't earned as an income... Get back to us when you are taxing credit default swaps, stock options and off-shore bank accounts to earn interest...
Bobby,
I can assure you that the banks of hte Grand Caymans and a number of other nations that specialize in accounts that are sheltered from income taxes will not cooperate with demands from the IRS to reveal who those number accounts belong to and what interest they are earning.
Even more importantly there are several firmly established international treaties about taxation of bank accounts kept in foreign nations, so taxing those is not really an option.
Stock options are already taxed as income, so what more do you want.
And Credit default swaps are also taxed for the corporate income they generate. what more do you want a 200% penalty tax on them?
The way the rich avoid taxes the most is to establish "non-profit" trusts for the family. The trusts they disburse a certain amount each week/month/year to members of the family. Since the trust is "theoretically" non-profit, it doesn't pay taxes even if it does have investment income.
That's how the Rockefellor and Hilton families keep their wealth, and I can assure you that Bill Gates has done this as well.
Funny thing is that your loudly demanded tax increase on the wealthy won't touch these trusts the wealtiest families in the UUS will see almost on tax increase, but I would bet that many doctors and lawyers will be paying. Expect your doctor to demand a larger payment, which drives your health insurance payments and copayments up and expect your lawyer to want a larger retainer for his services.
mvargus,
"What more do I want..."
I want the rich to pay the same percentage of taxes that I do - when compared to all their combined income...
The media just won't press Boehner or any of the Republicans on why they are blocking every single bill designed to create jobs and stimulate the economy.
It is this blatant conservative media bias that allows Republicans to get away with destroying the economy, then preventing anything that will help rejuvenate the economy.
The media just won't press Harry Reid or any of the Democrats on why they are blocking every single bill designed to create jobs and stimulate the economy.
It is this blatant liberal media bias that allows Democrats to get away with destroying the economy, then preventing anything that will help rejuvenate the economy.
or the violence of harry ried's supporters
http://www.mediaite.com/tv/supporters-of-harry-reid-and-sharron-angle-come-to-blows-during-debate/
http://www.thegatewaypundit.com/2010/03/breaking-video-show-harry-reid-supporters-attacking-tea-party-bus/
"Mimicry is the highest form of flattery".
Thanks, son!
Nothing that has come out of the House has been to create jobs. Nothing but getting rid of Planned Parenthood, the Ryan Plan to end Medicare and make it a voucher program. Many job killing bills coming out and nothing at all for job creation. Nothing. If there ever came from the House a good jobs bill it would have been approved and signed into law by President Obama. That is how it works.
Another laughable half hearted attempt by the GOP to appear like they are willing to step up and tax the wealthy. This is a joke, most wealthy pay cash for that second home.
Thanks for them letting the tea baggers lead their party they will be ousted in 2012.
It seems every one agrees to rais taxes on the "wealthy" but NO ONE is talking about the 50% that are paying NO FED INCOMTAX what so ever. What about this "fair share" libs and obama keep talking about. When does ALL Americans pay thier "fair share" so we can get out of this Liberal created Greece mess we have gotten into?
They don't pay income tax because Republican policies made them too poor to pay income tax!
Next...
Harbinger,
How can a government policy make someone "too poor to pay income tax?"
Did that policy make the person drop out of school and be unemployable?
Did that policy force the person to use drugs or alcohol until they were unemployable?
Did that policy tell that person to not search for a job? Search for a better education?
Now, I'm sure you'll now argue that the problem is that the GOP policies don't provide the money needed to "rise up out of poverty", but to that I have to point out that there are a multitude of stores of poor children who simply because they decided to succeed, went out, worked hard, found a good opportunity, seized that opportunity and became successful.
No government "policy" helped them find that opportunity, they looked for it
No government "policy" taught them how to succeed at their chosen taxk, they learned it through experience and effort.
And that is something you can see if you watch what's really happening in Greece. Read the whole story and you'll find out that many of those rioting have deliberately chosen to be poor and effectively wards of the government. To them government is mama and papa, giving them a small allowance and allowing them to be failures in life.
In fact I'd argue that you are right that government policies did make people too poor to pay income tax, but not because the policies held people back, but because it allows people to avoid the consequences of their bad decisions and lack of effort. If anything we make it too easy to not work. I'm reminded of a line from A Christmas Carol by Charles Dickens when Scrooge is asked by a couple of citizens to provide some funds to help the poor. Scrooge immediately asks "Are there no work houses?" he's asking if the poor can't go out any work. Back then such jobs tended to be dirty, dangerous and shorten lives, but the government did nothing to prevent their rise. Nor did the government stop the rise of "debtor's prisions" where someone who failed ot pay his debts would be foreced to work at hard labour until he had earned enough to pay back the loans he welshed on.
But I don't see any US government congresscritter suggesting either of these. They do ask for personal responsibliity and that able-bodied citizens get out and work rather than collect checks for sitting at home, but is that really draconian? Or are you just unhappy that others have higher expectations and faith in himanity than you have in yourself?
That is because they are poor and don't have the salary amount to be required to pay taxes. Yes you can make so little that taxes are not required.
A $300 billion tax cut over 10 years for a $800 billion cut immediately via tax cuts for the wealthy from the present 30% to 28% and continuing Bush tax cut permanently. This is not a deficit reducing plan but a revenue decrease to be paid for by the working class. This is not a bipartisan offer but a ridiculous offer from repub members of the super-committee. Sounds like more of the same. Of course repubs are going to claim that they are agreeing to raise revenue but leave out the part about the permanent Bush-cuts, eliminating the present tax cuts for the middle class and lowering taxes on the wealthy to 28%, which would much less after utilizing tax loop holes.
Something to think about.
Do we really want to further depress the housing market by eliminating an expensethat for some makes it possible to buy a second home.
The housing market is and can be the engine that starts our recovery.
I think there's better loopholes to close than that.
You're country is useless. Your politicians are so steeped in their own ideology and personal career interests they can't wake up and see they have a serious problem on their hands that requires cooperation for the good of the nation. Idiots
The three things necessary to solve the problem are: more revenue, lower spending and, and, ...................................................................................................................................................................................................................... and I need to ask Rick Perry.
These guys need to quit this posturing. To hell with the Democrats! Republicans, stand your ground, no concessions, explain it to the people, and name names and describe the thug behavior of the fool Democrats on that so-called committee.
I like that now we see proposals on the table from both sides. So now it's time for them to get serious and that means let's start out at where both sides are at and work from there. You see that 300 billion looks like a large number but that's not even a drop in the bucket for 14 Trillion deficit, but it's at least a starting point for the Republicans. Now the Dems want an even split of deductions in deficit spending and tax revenue increases of a trillion dollars which is better but again only half way full drops in the bucket for this astrinomical deficit we under. So now how we can get that significant dent of 4 trillion that the President proposed with Speaker Boehner earlier this year to come to fruition????!!!! Compromise!!!! Let's see if they can get it done, it's still another week and 1/2 half before the deadline.
We can end all of this with a new bill called "The American Equalization of Opportunity bill"
A bill designed by the OWS that proposes to limit the number of businesses any one person can own to one. It is aimed primarily at the most wealthy among us (1%). By passing this Bill, the OWS can seize others businesses for themselves there by denying the 1% thier fair share of what they earned.
The OWS claim the Bill is meant to give a chance to the little guy that is too lazy or too stupid to create a business on thier own.
Legend:
OWS = Obama's Willing Slaves
Sonmanvb I know they mean well but that is a truly non functioning bill. People who are successful and open multiple business do so because they see a need or a niche that isn't being filled and most importantly they take RISK. And when they start that business they hire people that helps everyone. Their plan wouldn't make more people own business's just because someone can't open more doesn't mean someone else will see the opportunity or take the risk of failure. I agree with you completely.
I'm a liberal Democrat and I think that is pretty stupid.
I support the OWS movement and if that's the best they can do....They need help.
Guys, look, I am a lifelong liberal yellow-dog Democrat and I have never said a kind word about Michelle Bachmann, with her government subsidies and anti-government tirades. But at the same time, I think that the people who shouted her down are the ones who looked like fascists and could only arouse sympathy for her.
Here we in America have depended on a Senate and House membership which is closely align to the old Roman Senators in action with arguments and constant disagreements and now you have this " Super Committee " which can't even agree on absolutely nothing and you want us Americans to wait until the death date in November for them to tell us the same thing they told us before this Great Super Committee was formed, which is Nothing and everything will remain the same, or we Republicans still want you to give us more concessions and the Democrats still insisting on the Republicans to not cut programs and give us more revenue in the form of higher Taxes and after all this is done and said, we still basically as Americans are still going to be screwed? How much more time do you think Americans are willing to wait until we turn violent and become even more frustrated with the " As Usual " politics with nothing being done but to see each day our lives getting worst, instead of better. These politicians are just playing everyone for a bunch of idiots and fools with no regard to us being Human first, and Americans second. And you wonder why the protest movement is growing? I think all of these politicians should relate to the stone gathering snow and growing to a giant snowball which in time will destruct and destroy all in it's path. May God help us all.
Let's face it, like Senator Toomey said....the Repubs want to strike a deal. The Dems want to say "no" to any deal because the Dems are heading into an election in a very bad economy and want to call the Repubs "The Party of NO" to make them look bad.
Who is the actual "Party of NO"? The Democrats.
Good try in placing the blame, but truthfully..Both are at fault, but the Republicans are the worst of two evils as all this started when Barack Obama became President. Now you read between the lines and form your own answer.
That dem libtard speak for any one that opposes obama is a racist.
You dem libs really should do some reading up on history of your party and see who ran the likes of the kkk and who was the grand wizards. DEMS?
Slow down man. No one here is relating anything you are I am saying as being related to libs or racism, but to point out that the republicans as a whole did not start the being the party of " NO " or being the modern cay " Obstructionist until Barack Obama took office and decided to expose the grief and criminal activities of Corporate America, and if the republicans played a part in being more closely aligned with corruption, then so be it. If you can't accept the truth then stop writing lies.
Not really the truth John. The GOP has never wanted solutions because it would make President Obama look good. Politics is the GOP game and it never includes what is best for the middle class, senior citizens, those who are unemployed or the working poor. In every committee that has been established since President Obama took office the republicans like Kyle walk out like the quitters they are. We will probably be seeing republican quitters soon from this committe.
Leona,
So the Republicans offer up a "crap" Idea and we are supposed to accept it.
NOT.
1 It does not help the MAJORITY of the United States pure and simple. The Republicans knew that when they offered it.
2. The point of eliminating the motgage deduction for second homes is incredible dumb; that industry is on Life Support and it's kind of like pulling the plug. I don't care who buys houses...rich or poor....the majority of homes are bought with financing and when you buy a house, it will need furniture, appliances, ect. Keeping this WILL stimulate the economy and produce at least some DEMAND.
The Republicans can harp all they want about reducing taxes for the "Job Creators"; but with out DEMAND it's a mute point.
Transfering more of the burden of taxes on to middle America is not acceptable to me, the majority of Americans and will just remove more money from the economy and reduce demand.
Seriously are Republicans that dumb.
Back to the drawing board.
If Obama and the Demmies came out against abortion, tomorrow the Repubbies would demand free forced abortions. That is how they have operated since 1/21/2009. Nothing can or will change it.
Looks like now the GOP have Catholic extremists insisting they end contraceptions. Then where will we be? Right back to the 50s when there were no protections and women were not able to have children when they were really wanted.