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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]
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
Originally posted by OutKast Searcher
reply to post by xuenchen
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 grey580
I'll just leave this here.
Does everyone see this?
edit on 16-7-2012 by grey580 because: (no reason given)
Originally posted by OutKast Searcher
reply to post by xuenchen
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 EvilSadamClone
Some people believe that Obama can do no wrong because they are such fanbois.
Originally posted by Kaploink
Originally posted by EvilSadamClone
Some people believe that Obama can do no wrong because they are such fanbois.
The same could be said of Bush fans. I can remember seeing paintings of Bush standing next to Jesus in a religious store here. it was taking fanboyism to a new level.
Originally posted by kozmo
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?
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
Originally posted by kozmo
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!!!