Democrats threaten to go over ‘fiscal cliff’ if GOP fails to raise taxes, page 1

from The Washington Post
July 15, 2012

Democrats threaten to go over ‘fiscal cliff’ if GOP fails to raise taxes

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It sounds like the Democrats in Congress are using strong-arm tactics to somehow get the Republicans to raise taxes on "the rich".

They seem to be "threatening" to allow the current "tax cuts" to expire on January 1st therefore defaulting to higher and possibly devastating taxes for everybody, especially the middle class with middle incomes !!

They want tax increases on "the rich" included in any agreements.

Many arguments say that would only pay a nominal amount into the Treasury.

Others argue that it's all about raving jealousy.

A big fight is looming over this issue, and it probably will be "settled" After the November elections.

Some opinions say that the Democrats are hoping to "keep" the White House and Senate majorities and regain a majority in the House.

But are these scare tactics actually going to work ?

A lot of citizens have been victimized by policies that have simply not done anything positive for the majority of Americans.

When Obama took office in January 2009, he had with him majorities in the Senate and House that lasted for two years.

We all have seen the results of that.....

They over spent to the max.

They maxed out the U.S. Treasury's borrowing capacity and spent the highest possible percentage of revenues that they could "get away" with.

Obama's first two years also passed legislations that we still have no idea what they will end up costing.

Democrats are making increasingly explicit threats about their willingness to let nearly $600 billion worth of tax hikes and spending cuts take effect in January unless Republicans drop their opposition to higher taxes for the nation’s wealthiest households.

Emboldened by signs that GOP resistance to new taxes may be weakening, senior Democrats say they are prepared to weather a fiscal event that could plunge the nation back into recession if the new year arrives without an acceptable compromise.

In a speech Monday, Sen. Patty Murray (Wash.), the Senate’s No. 4 Democrat and the leader of the caucus’s campaign arm, plans to make the clearest case yet for going over what some have called the “fiscal cliff.” .....
{article continues}

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Breitbart "opinions"

A year ago, President Barack Obama called Republicans "hostage takers" for staying true to their mandate and refusing to agree to tax hikes as part of the debt ceiling deal. Now, the Washington Post reports that Democrats are explicitly threatening to allow "nearly $600 billion worth of tax hikes and spending cuts"--otherwise known as "Taxmageddon"--in January unless Republicans agree to raise taxes on the highest earners. It's the clearest sign of which party is, in fact, the most extreme--and the most willing to put party ahead of country....{story continues}

The Real Hostage Takers: Democrats Threaten Taxmageddon for All Unless Rich Pay More

Can the Democrats actually get enough votes from this tactic ?

I'll just leave this here.

Does everyone see this?

reply to post by xuenchen

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It's funny how you are trying to say the Democrats are threatening to raise taxes on the middle class.


It's quite simple...Republicans are holding the middle and lower class hostage in order to demand lower taxes for the rich.

Nice attempt at spin...good luck trying to sell it.

Originally posted by OutKast Searcher
reply to post by xuenchen

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It's funny how you are trying to say the Democrats are threatening to raise taxes on the middle class.


It's quite simple...Republicans are holding the middle and lower class hostage in order to demand lower taxes for the rich.

Nice attempt at spin...good luck trying to sell it.

Well OK.

Perhaps you could explain all that in English ?

But in your wise opinion,

Don't you see the possibility that if the Dems get full control again, we could see a $25 trillion debt late in an Obama 2nd term ?

All they need to do is raise the Treasury interest rates (ever so slightly) to attract more debt buyers.

Plus, I don't see this latest tactic gaining and new votes for Obama or any Democrat.

It could become a net loss of votes. Maybe that's what they really want ?

I think Obama wants O-U-T !!! He is fed up with the criticisms (he hates that you know !).

He can make 10 time the money on the media circuit than as President !!!

Watch for it !!

Originally posted by grey580
I'll just leave this here.

Does everyone see this?

edit on 16-7-2012 by grey580 because: (no reason given)

Yes, I see it... It says "As government has gotten BIGGER and as taxes and regulations have INCREASED, GDP has DECREASED. That is EXACTLY what it says. Thanks for supporting the claim that LOWER taxes and LESS government interference equals MORE GDP!!!

Originally posted by OutKast Searcher
reply to post by xuenchen

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It's funny how you are trying to say the Democrats are threatening to raise taxes on the middle class.


It's quite simple...Republicans are holding the middle and lower class hostage in order to demand lower taxes for the rich.

Nice attempt at spin...good luck trying to sell it.

Obama just raised taxes on the middle class by the LARGEST amount in the history of this country! But, I mean, why pay attention to the facts, right?

reply to post by Kaploink

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I call it PDS, or Presidential Derangement Syndrome. In which people absolutely and blindly worship the President or hate the President so much that he can do no right and can't be given credit for anything good.

All Presidents have them.

reply to post by grey580

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This article from Feb 2011 suggests the correlation of tax rates and GDP are nominal at best.

Regardless of which inflation-adjusted measure we use, the answer is still the same: Overall, the past 80 years show us a thorough lack of clear correlation between the top marginal tax rate and GDP growth. The data's closest hint of a relationship derives from the slightly more robust average GDP growth back when the top rates were higher, but that closest hint isn't close enough to be sure of an ideal rate. The notion that lowering the top tax rates improves the economy just doesn't hold water. Indeed, these 8 most recent decades show us that increasing the top tax would not necessarily have any impact on the economy, let alone slow it at all.

Chained to Real: Tax Rates, Inflation-adjusted GDP Measures, and the Difference

Perhaps we should look at the total amounts paid at the highest rates vs. the lowest rates and compare that to total tax revenues.

We also need to consider not only the rates themselves, but also the tax depreciation rates and other allowed deductions that would offset the total tax paid.

reply to post by xuenchen

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Their strategy is to bring over the coveted Value Added Tax from Europe.

Tax the rich won't work and they know it.

They need to tax everyone. I hope this comes up during the debates.

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