Boehner’s Plan B Also Cuts Taxes on Rich, Raises Them on Poor

By: Thursday December 20, 2012 6:38 am

John Boehner may not even have the votes for today’s “Plan B,” a bill that effectively raises taxes on people making over $1 million a year. He was seen gladhanding on the House floor last night, whipping votes for his side. He can only lose 24 votes to reach 217 (there are a couple vacancies right now), on the expectation that he’ll get no help at all from the other side. It’s probably a heavy lift; even with Grover Norquist’s blessing, Boehner wants his GOP colleagues to walk the plank on a tax increase bill without any hope of it becoming law, just so they can go back and pass another bill that does the same thing.

A look at the bill’s particulars, however, actually inverts expectations.

 

Grand Bargain Gambit Also Seeks to Make Others Pay for the Sins of Elites

By: Thursday November 15, 2012 10:48 am

The President’s meeting with CEOs played out just as expected, as they offered support for any kind of a deal that averted the fiscal slope and a flood of austerity in 2013. Obviously they have a very particular perspective, grounded in cuts to their own corporate tax rates while the elderly and poor bear the costs of debt reduction.

Meanwhile, the White House is already playing a game of inches with the Bush-era tax rates.

Boehner Opens Grand Bargain Negotiations by Proposing the Romney Plan

By: Thursday November 8, 2012 7:07 am

So Boehner is calling for an across the board rate cut, paid for by (and actually with a revenue gain from) closing loopholes and deductions. All the while, he wants to “reform” entitlements to reduce the cost to government.

Now where have I heard that before? Oh yeah, it’s the Mitt Romney platform.

Advisor Says Romney Would Scrap Mathematically Impossible Tax Plan if It’s Mathematically Impossible

By: Wednesday September 26, 2012 3:35 pm

The problem, aside from Romney never identifying which deductions he would eliminate, is that it’s mathematically impossible. There are not enough deductions to eliminate on the wealthy to compensate for the 20% reduction in tax rates. The deductions would have to be cut for the middle class as well, leading to a tax increase there.

Buffett Rule Not Really a Rule

By: Thursday September 22, 2011 8:48 am

I have to agree with The Economist that this policy is trivial, even if you agree (as I do) with the component parts. “Our economy is riddled with a multitude of deeply-embedded structural flaws that allow the well-connected to enrich themselves at the expense of the rest of us, but nobody will do anything about it.” And yes, that was on the website of The Economist.

American Jobs Act Pay-Fors All on Tax Side

By: Monday September 12, 2011 11:30 am

Well, this is a bit unexpected. OMB Director Jack Lew strolled into the White House briefing room and laid out the plan to pay for the American Jobs Act, and it’s entirely from ending tax breaks for rich people and corporations.

The Debt Limit Deal Is a Gift for Republicans

By: Saturday July 2, 2011 9:45 am

The LA Times finds a nut and recognizes that, no matter what deal ultimately emerges from the debt limit talks, it’s going to be a Republican victory.

Obama Enters Debt Limit Talks, With a Focus on Revenue

By: Tuesday June 28, 2011 9:30 am

Following up on the Filibernie post from earlier today, the president is looking at revenue increases as he enters the debt reduction talks. Too bad he is not even close to the 1:1 cuts for revenue that Senator Sanders is demanding.

Democrats Sought Elimination of Big Oil Subsidies, Caps on Deductions for the Rich in Debt Limit Talks

By: Sunday June 26, 2011 6:51 am

Rep. Chris Van Hollen and Sen. Chuck Schumer tallied up what amounted to a list of demands from Democrats on revenue in the debt limit negotiations. They are a collection of real but pretty mild steps.

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