‘Gang of Six’ plan meaningless without GOP House
A sense of relief washed over Washington Tuesday after the bipartisan Gang of Six — a group that includes Saxby Chambliss of Georgia — announced it had come to agreement on a major deficit-reduction package.
Their announcement was greeted by many as if a path out of the wilderness had been found. President Obama spoke favorably of the plan, calling it “broadly consistent with what we’ve been working on here in the White House.” Senators of both parties expressed support for the plan, at least in broad terms.
“One of the 25 Republicans who heard the Gang of Six’s proposal for a grand bargain on debt reduction was Sen. Lamar Alexander of Tennessee, who ranks third in the GOP leadership. He said he was impressed both with the plan and with the three Republican gang members who helped draft it.
“Senators [Mike] Crapo, [Tom] Coburn and Chambliss are three of the most conservative members of the Republican caucus, and if they study something for six months, tell me it’s good for the country, that means a lot to me.”
Many other conservative Republicans senators showered similar praise on the Gang of Six proposal. They did so despite the fact that most Republicans for months have opposed using any increased tax revenues to bring down deficits.
Coburn said this plan puts tax revenues back on the table.
“There’s no question, revenues — enhanced revenues — are part of this plan, and we think it’ll be about $1 trillion,” he said.”
But that’s the problem, isn’t it. Sensible, responsible people understand that the deficit has to be addressed by a combination of spending cuts and revenue increases. Politically, that’s how a deal can be cut. And mathematically, it simply isn’t possible to achieve deficit cuts of the size required without approaching the problem from both ends, by raising revenue and cutting spending.
However, sensible, responsible people are not running the show in the U.S. House of Representatives. While Crapo, Coburn and Chambliss may be three of the more conservative Republicans in the Senate, in the eyes of their colleagues in the House they are mere RINOs.
As a sign of their continued fidelity to foolishness, House Republicans spent yesterday passing their extreme “Cut, Cap and Balance Plan.” The good news is that nine GOP congressmen voted against the bill. The bad news is that most if not all of those nine — including GOP presidential candidate Michele Bachmann and Georgia’s Paul Broun — voted against it because in the end, it would raise the debt ceiling. In other words, it wasn’t extreme enough.
“The president has said now for once he wants a balanced approach,” Speaker John Boehner said after the vote. “Well, guess what. In ‘Cut, Cap and Balance’ he does get a balanced approach. He gets his increase in the debt limit of $2.4 trillion. What we get are real cuts in spending and real reforms in place that’ll make sure that this problem never, ever happens again.”
Note that Boehner continues to frame the debt limit increase as a goal that Obama wants and that Boehner is willing to grant him under the right conditions, rather than an absolute necessity for the country as a whole. It’s crazy talk.
Meanwhile, out there in BaseLand, the drumbeat for Armageddon grows louder.
For example, at redstate.com, the Gang of Six plan is derided as “the Gangrene Plan” because “it will slowly, but surely, rot away the nation.”
“What’s going to happen now is the Senate will tell the House that its plan cannot pass. House Republicans must now continue to hold the freaking line. They must not waiver. They must understand that now that their plan is passed and that it allows the debt ceiling to be raised, the House GOP’s hand strengthens every day closer to August 2nd. And if this debacle goes past August 2nd, the House GOP is in charge as long as it holds the freaking line.”
Things aren’t much better at places such as the Heritage Foundation. David Addington, Heritage vice president of domestic and economic policy studies and former chief of staff to Vice President Dick Cheney, dismisses the Gang of Six proposal as “the third Senate-originated half-baked idea this week.”
“There’s plenty in the Gang of Six Plan for President Obama — he gets his tax hikes and, in reality, he gets to borrow lots more money. But the American people don’t really get much of anything, except the usual empty promise of action in the future…. Conservatives should stop the Gang of Six Plan.”
A peek at the calendar tells me that Aug. 2 is now 13 days away.
– Jay Bookman
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275 comments Add your comment
Left wing management
July 20th, 2011
8:50 am
It’s all the House’s fault
stands for decibels
July 20th, 2011
8:52 am
‘Gang of Six’ plan meaningless without GOP House
Pretty much what Obama said yesterday, although he was a lot nicer / less blunt about it than that.
1811/0311
July 20th, 2011
8:54 am
Which of the three branches of our government (and which part of “that” branch) best represents the grass roots will of the majority of the American people …………… or at least that’s the way our representative democracy is supposed to work?
The House of Representatives
They have spoken. A bill is on the table.
Lord Help Us
July 20th, 2011
8:55 am
Coburn, Alexander, Cambliss, McConnell – RINO’s!!!
The tent keeps getting smaller.
Tick…tick…tick…
Lord Help Us
July 20th, 2011
8:56 am
‘They have spoken. A bill is on the table.’
Methinks someone needs to study our Country’s Constitution and learn about the branches of Gov’t and Check and balances…
Dave R.
July 20th, 2011
8:56 am
“Gang of Six’ plan meaningless”
Could have stopped right there without the qualifier, Jay.
Anything Saxby Chambliss is associated with is destined to be a lousy alternative to what should be done.
bhorsoft
July 20th, 2011
8:59 am
Voting in the next election is going to be easy. I won’t vote for anyone with an (I) next to their name; except for the President – based on what I’m seeing so far, any opposition to Obama will be some sort of nut job. These days, the choice in an election always seems to be the lesser of two evils.
Tommy Maddox
July 20th, 2011
9:00 am
Mr. Chambliss has not been reading my correspondence to him.
1811/0311
July 20th, 2011
9:01 am
Lord Help Us:
That’s why I said a “bill is on the table” knucklehead.
The “ultimate” check and balance is who?
The PEOPLE.
Bosch
July 20th, 2011
9:01 am
Scout,
And the House of Representatives is also the most volatile and full of nuts which is why there is a Senate of more cool headed members to off set the crazy.
Lord Help Us
July 20th, 2011
9:04 am
Heck, according to Saxby, Max Cleland is an American-hating, terrorist loving traitor…
Problem is…he strayed from the crazy by participating in the ‘Gang of Six.’ He shall now be branded with the RINO label.
Saxby can now look forward to a primary opponent that believes Obama is the Anti-Christ.
Tick…tick…tick…
some guy
July 20th, 2011
9:05 am
It’s the House GOP’s fault…………..They control half of Congress and have not control or influence over the executive branch that has shown no leadership and is more interested in reelection with 31 fund raising events in the last quarter and would rather grandstand and demagogue.
Peadawg
July 20th, 2011
9:05 am
“‘Gang of Six’ plan meaningless” period, Jay. I mean cutting mortgage interest deductions? Really? That’s one of the main incentives of buying a house vs. living in an apartment. And a promise of future cuts? Pahlease.
Lord Help Us
July 20th, 2011
9:06 am
‘The “ultimate” check and balance is who?’
No, silly, it’s the Senate, the President and the Judiciary…
Go read the Constitution and come back when you got some learnin’s.
Bosch
July 20th, 2011
9:06 am
A key goal of the framers was to create a Senate differently constituted from the House so it would be less subject to popular passions and impulses. “The use of the Senate,” wrote James Madison in Notes of Debates in the Federal Convention of 1787, “is to consist in its proceedings with more coolness, with more system and with more wisdom, than the popular branch.” An oft-quoted story about the “coolness” of the Senate involves George Washington and Thomas Jefferson, who was in France during the Constitutional Convention. Upon his return, Jefferson visited Washington and asked why the Convention delegates had created a Senate. “Why did you pour that coffee into your saucer?” asked Washington. “To cool it,” said Jefferson. “Even so,” responded Washington, “we pour legislation into the senatorial saucer to cool it.”
http://www.senate.gov/legislative/common/briefing/Senate_legislative_process.htm
USinUK
July 20th, 2011
9:07 am
“or at least that’s the way our representative democracy is supposed to work?”
EXACTLY.
that’s how it’s SUPPOSED to work
but doesn’t.
case in point … “jobs-jobs-jobs” was their mantra … and what was the first thing they did? went after my uterus-uterus-uterus.
carlosgvv
July 20th, 2011
9:07 am
If the “gang of six” plan passes the Senate, there will be intense pressure from the public on the House to do the same. If they don’t, they will quickly be politically isolated. At this point, it will just be a question of how long it will take these incredibly dense people to wake up and hear the voters.
USinUK
July 20th, 2011
9:08 am
P’diddy – “That’s one of the main incentives of buying a house vs. living in an apartment”
we haven’t had mortgage interest deductions in the UK in YEARS … know what? people still by houses.
Dave R.
July 20th, 2011
9:09 am
“And the House of Representatives is also the most volatile and full of nuts which is why there is a Senate of more cool headed members to off set the crazy.”
Yeah, because Dick Durbin, Chuck Schumer, Bernie Sanders, Saxby Chambliss and Richard Shelby are paragons of “sane”.
@@
July 20th, 2011
9:09 am
It’s not just Republicans, jay.
House Speaker John Boehner, R-Ohio, is typically grumbly, and Senate Democrats are complaining that they may not have enough time to pull everything together before the August 2 debt ceiling deadline. But the cheerleading for the “Gang of Six” plan is considerable and enthusiastic.
Except for:
But the one senator (Bernie Sanders) who has stood most steadily in defense of Social Security, Medicare and Medicaid—and for fiscally sound budgeting—is not joining the mob.
He is objecting. And he says the American people should join him in challenging a a plan that he says would result in devastating cuts to needed programs.
“While all of the details from the so-called Gang of Six proposals are not yet clear, what is apparent is that the plan would result in devastating cuts to Social Security, Medicare, Medicaid and many other programs that are of vital importance to working families in this country. Meanwhile, tax rates would be lowered for the wealthiest people and the largest, most profitable corporations,” says Sanders.
“This is an approach that should be rejected by the American people. At a time when the rich are becoming richer and corporate profits are soaring, at least half of any deficit-reduction package must come from upper income people and profitable corporations. We must also take a hard look at military spending, which has tripled since 1997.”
http://www.thenation.com/blog/162166/gang-six-plan-not-so-fast-says-bernie-sanders
Scathing comments from Obama’s home base.
schnirt
WAR
July 20th, 2011
9:09 am
ok explain this to me: how can i decrease my deficit by just cutting my spending, but not by raising my taxes too?
seriously, explain to me how that works?
jt
July 20th, 2011
9:10 am
“A sense of relief washed over Washington Tuesday ”
.
That is all I needed to read.
It can’t be good for Americans when that happens.
.
Robespierre………….where are you sir?
Jay
July 20th, 2011
9:10 am
I mean cutting mortgage interest deductions? Really? That’s one of the main incentives of buying a house vs. living in an apartment.
Oh, I see. Peadawg believes it’s legitimate for government to intervene in the free market by favoring certain investments or purchases over other investments or purchases.
Personally, I think such steps have their place. I just didn’t know Peadawg agreed with me.
Gordon
July 20th, 2011
9:11 am
“…. despite the fact that most Republicans for months have opposed using any increased tax revenues to bring down deficits”
That’s because increased revenues don’t bring down deficits, they get spent. Bush 41 raised taxes with the promise of spending cuts but those never came. A new administration (or this same one), a higher debt ceiling, a couple of examples of people suffering under the new spending cuts, and it all goes away.
Someone reading Jay’s blog this morning who wasn’t at all familiar with the budget might think that spending cuts and revenue increases were of equal importance in solving this problem. In fact, they are not, and its not even close even assuming that raising taxes has no negative effect on the recovery. Tom Coburn’s plan is about right (and yes, I realize it has revenue increases but those are about one eighth of the spending cuts).
At least this debt ceiling issue is keeping us from having to listen to whining about global warming in the middle of this July heat wave.
Bosch
July 20th, 2011
9:11 am
Dave R.,
Well, true that, but still — it’s historically acknowledged that the Senate houses the wiser, more level headed amongst our politicians (I know, God help us now
).
It’s why Bill Clinton didn’t get thrown out after he was impeached. The Senators knew it was stupid.
Peadawg
July 20th, 2011
9:11 am
“we haven’t had mortgage interest deductions in the UK in YEARS … know what? people still by houses.” – I’m sure. But it’s different when you haven’t had it in a while….people are used to it over there.
No mortgage interest deduction + continuing decline in home value after you purchase = why the hell would you buy a house? If this go through we may be going back to the apartments we moved from a few years ago.
Martin the Calvinist
July 20th, 2011
9:12 am
Jay, are you saying deficit spending is okay and that we should continue such practices. I personally think a balanced budget amendment would be a great idea. We shouldn’t be spending more than we take in, most families in the USA don’t do that, if they do, their credit rating stinks.
I personally am a low taxes for everyone guy and believes in a limited government that spends as little as possible of the peoples money but from what I’m hearing this “gang of six” deal is reasonable. I’m quite okay with lower rates on everyone and fewer deductions on everyone to generate the revenue to run the country. We need more tax payers, not more people dependent on a federal government. I would think common sense would tell everyone that.
Jefferson
July 20th, 2011
9:12 am
This is why the GOP has no credibility. They can’t do what they say they will do, so nothing is accomplished. Watch is live and in color, its a lock.
Bosch
July 20th, 2011
9:13 am
Sounds to me Peadawg has wealth envy.
Dave R.
July 20th, 2011
9:14 am
“If the “gang of six” plan passes the Senate, there will be intense pressure from the public on the House to do the same.”
But since the House passed Cut, Cap and Balance there is no corresponding “intense pressure” for the SENATE to do the same?
Don’t quit your day job. Political analysis isn’t your forte, carlos.
md
July 20th, 2011
9:14 am
Well…….looks as if in reality, any plan is meaningless……….the 2 headed monster is eating them with one mouth or the other…………..
But you folks go on debating which head is the least hungry………
USinUK
July 20th, 2011
9:14 am
Peadawg – “But it’s different when you haven’t had it in a while….people are used to it over there”
people are used to it?
that’s your reason to keep it?
well, gosh, people are used to SocSec, too, but you guys want to cut the hell out of that. And Medicaid. And PBS. etc
Bosch
July 20th, 2011
9:14 am
“We shouldn’t be spending more than we take in, most families in the USA don’t do that”
When will people realize that the budget of the United States is NOT like YOUR checking account? Geez.
WAR
July 20th, 2011
9:14 am
i dont trust anyone who says read the constitution. really, that is a long piece of writing with all its laws and bylaws and amendments and this that and the other. i tried to do it, but mostly skipped around and examined the parts that i liked the most which were parts i was most familiar with. 1st, 2nd, 14th amendment are my favorites. i figure the other average American does that too.
USinUK
July 20th, 2011
9:15 am
oh, wait, I gettit … only SOME people need to feel pain …
Peadawg
July 20th, 2011
9:15 am
“Oh, I see. Peadawg believes it’s legitimate for government to intervene in the free market by favoring certain investments or purchases over other investments or purchases.” – Tax incentives to buy houses are a no brainer, Jay, especially when the market is still doing so poorly. Take away that tax incentive? So much for recovery anytime soon.
The tax incentive kinda makes up for the higher upkeep, higher bills, and declining value…now what’s the incentive to buy a house?
USinUK
July 20th, 2011
9:15 am
Bosch – 9:14 – I’m trying not to bang my head on that particular brick wall anymore … they don’t get it and they never will
Peadawg
July 20th, 2011
9:16 am
USinUK @ 9:14
And the point whizzes over your head…
Brosephus
July 20th, 2011
9:16 am
I can’t help but laugh my ass off at how people bristling at the plan offered by the Gang of Six. All I’ve heard is people defending not taxing the rich and not taxing corporations. However, now that there is a plan that gives them what they asked for, not taxing the rich, by sticking it to the middle class, that’s not such a good idea. And we wonder why we can’t get anything done….
@@ from downstairs:
And the fact that she’s a Conservative columnist doesn’t slant her opinion at all either, huh? I loathe people like her with the same furor as I loathe those who march lockstep with the Democratic Party as well. Neither party gives a sh*t about Blacks, and that’s more evident through their actions than any lip service they could ever show.
If you look at pure numbers, Black unemployment now is the same percentage as it was under Bush. Going off the percentages she’s quoting, Black unemployment rides at about 180% of the total unemployment percentage. To say Obama has a problem would mean that she’s agreeing that Bush had a problem. She had no problem defending Bush, as the people she’s ripping appear to have no problem defending Obama. Both groups are wrong in my opinion.
Left wing management
July 20th, 2011
9:16 am
Here you have a president down on bended knee, tongue extended and moving back and forth along the bottom of the right wing boot, which he loves and secretly admires unlike his whiny, idealistic base whom he dumps on at every chance, literally BEGGING, PLEADING with his opponents for a deal, just ANY modicum of a token compromise on the revenue issue so he can at least save minimal face. That’s all. Yet EVEN THAT is not enough for this corporatist right. They want it ALL!
To which I respond by saying: fine, then, let’s have default.
This is what the most serious governing crisis in over a century in this country looks like.
Jay
July 20th, 2011
9:16 am
And jt pines for an American Robespierre, a demagogue and tyrant who sent hundreds of his political enemies to the guillotine, embracing the use of political terror on the grounds that “Terror is only justice prompt, severe and inflexible; it is then an emanation of virtue.”
Lord save our country from these “patriots.”
1811/0311
July 20th, 2011
9:17 am
Come next election the will of the people will be voiced even more strongly …………….. a check and balance ……….. resulting in more conservative new senators, a new conservative president and thus different Supreme Court nominees who will uphold the Constitution rather than reinvent it !
As I said, the ultimate check and balance is the PEOPLE.
Next.
P.S. Off for the day
Bosch
July 20th, 2011
9:17 am
“now what’s the incentive to buy a house?”
Sense of ownership
Good investment
You get to re-do the kitchen when you want and pick out whatever colors you want
Cheaper than renting
Keep Up the Good Fight!
July 20th, 2011
9:18 am
Prepare for Debtageddon! Brought to you by the House of Representatives….who failed to bring Jobageddon (or was it to be Jobmania?) but who did manage to bring Planned Parenthoodaphobia. This will be a pay-per-view event which you are already paying for. Remember as with all WWF events, while the entertainment value may vary by viewer, there is a complete lack of nutritional value for the country.
Bosch
July 20th, 2011
9:18 am
“USinUK @ 9:14
And the point whizzes over your head…”
Absolutely not Pea, she is pointing out your hypocrisy.
WAR
July 20th, 2011
9:18 am
ok. i have a budget that is way too big. i cut spending by watching my spending habits. i save a few dollars but its not enough. if i sell some things at a garage sale or charge a few extra dollars for some afterwork services i provide, will that be like raising taxes?
Paul
July 20th, 2011
9:19 am
A bipartisan group. Bipartisan support in the Senate. Support of the Executive. House Republicans are getting further out on the limb and think they’re setting a record for tree climbing.
For those who keep criticizing Pres Obama with why hasn’t he embraced the recommendations of his own debt reduction commission (Bowles-Simpson)?,” the answer is “he has.” The Gang of Six plan (according to Sen Crapo in an interview on the Fox evening news show) said it heavily relies on Bowles-Simpson.
So now the question is, why have conservative Republicans who criticized the Pres for not embracing Bowles-Simpson now rejected those very same recommendations?
Dave R.
July 20th, 2011
9:19 am
Do you know what screwed up the “cooling saucer” of the Senate, Bosch?
Election of Senators by the people. The original thought was that the House would represent the interests of the people, while the Senate would represent the interests of the states by being appointed by the governors or legislatures.
Another good idea screwed up by our elected politicians in order to maintain their power.
Paul
July 20th, 2011
9:19 am
Actually, House Republicans remind me of a Kevin Bacon character:
http://www.youtube.com/watch?v=zDAmPIq29ro
Bosch
July 20th, 2011
9:19 am
“P.S. Off for the day”
Thank God.
Fred
July 20th, 2011
9:20 am
Peadawg, Post is readt when you are.
Personally I didn’t buy my house for a tax deduction.
Jimmy62
July 20th, 2011
9:21 am
It’s not a sensible plan, it’s not balanced, it doesn’t have any real cuts, and it doesn’t touch entitlements, which are the main problem anyway. It doesn’t touch Obamacare, which nobody says will save money anymore, all it does is punt the real problems to the next guys, who will find a way to make sure the buck doesn’t stop there. Rather than taking real action to cut spending, which has risen far faster than population growth+inflation, it hides the problems with some fancy words, and seems to be more about making sure Obama can get reelected than anything else. Actually being fiscally responsible would lose him too many votes from the people who love getting their free money from D.C.
Peadawg
July 20th, 2011
9:22 am
“now what’s the incentive to buy a house?”
Good investment – Ha! Sense when is investing in something that continues to decline in value a good investment?
Cheaper than renting – Absolutely not. Pest inspection? Done by the apartment. Any kind of Maintenance? Done by the apartment. Electricity bill for a 1 bedroom apartment vs. a 3 bedroom house? Pahlease. Washer and dryer, fridge, microwave, stove, dish washer? A lot of apartments provide those for you. You don’t have to purchase any lawn/gardening equipment if you live in an apartment. I could go on and on but you get my point.
Bosch
July 20th, 2011
9:22 am
Dave R.,
Yeah, this country would be fine if it wasn’t for the damn people getting involved.
The real business of the country should be left to the landed gentry, the entitled elite, the successful amongst us who’ve worked hard and earned their own! Hehehhehhe…just messin’ with ya’
Granny Godzilla
July 20th, 2011
9:22 am
study of knuckleheadedness
A. “Your incessant attacks on all things conservative and your embarrassing fawning over this mistake-prone President is proof positive of someone who has no grasp of reality.”
B.”Yeah, because Dick Durbin, Chuck Schumer, Bernie Sanders, Saxby Chambliss and Richard Shelby are paragons of “sane”.”
I’m sensing a pattern….
WAR
July 20th, 2011
9:22 am
so would the country be better if a “conservative” president, congress, and supreme court were in charge of the three branches of government? do libs and progressives and others not have legitimate ideas that can best shape the country too.
i dont trust people who say read the constitution
i really dont trust people who believe that more things can get done by having just one party rule forever.
sounds alot like tyranny to me.
Martin the Calvinist
July 20th, 2011
9:22 am
Bosch, the Federal budget should be more like our checking account. It’s good stewardship of the peoples money not to overspend or spend on stupid stuff. Overspending has put us in a bad position.
Brosephus
July 20th, 2011
9:22 am
if i sell some things at a garage sale or charge a few extra dollars for some afterwork services i provide, will that be like raising taxes?
Not if you make offsetting new purchases….
Paul
July 20th, 2011
9:23 am
Bosch and USinUK
Good thing you weren’t here yesterday evening. You woulda been on the hook for about 8,000 calories from popcorn.
I did find out that if you reference the Library of Congress to list how Rep Bachmann voted, the answer is ‘the Library of Congress lies.”
And some people say Washington is out of touch?!!?
Bosch
July 20th, 2011
9:23 am
Actually Peadawg, I don’t get your point as it’s pretty obvious you have never owned a home, and I’m with Fred — I didn’t buy my home for the tax benefits.
Gordon
July 20th, 2011
9:24 am
Dave R. @9:19 is exactly right. The Senate was supposed to be the deliberate body of Congress, but now they are just like representatives except they get a 6 year term. The states were robbed of power when the Senate began to be elected by the people. The only people who should be directly elected by the people are the House members.
USinUK
July 20th, 2011
9:24 am
“And the point whizzes over your head…”
ah. no. your point was that we should keep it because it’s aaaaallllllways been there and whyever would people buy a house if it wasn’t.
welp. people have always bought houses here in the UK – with the incentive and without it –
in the US, I believe “The American Dream” refers to homeownership, not mortgage interest tax deduction
Bosch
July 20th, 2011
9:24 am
“good stewardship of the peoples money not to overspend or spend on stupid stuff. Overspending has put us in a bad position”
Martin, you need to take a course in what “relativity” means. What is “stupid” to you is not stupid to others.
Dave R.
July 20th, 2011
9:25 am
“I’m sensing a pattern….”
Too bad you don’t sense political party affiliation, Granny.
3-2 Dems to GOP.
Unlike you, I don’t kiss the altar of either party.
@@
July 20th, 2011
9:26 am
SoCo:
And I responded downstairs.
WAR
July 20th, 2011
9:26 am
martin
trust you do not want the fed budget to be like our checking account: overdrawn, full of fees, and never with enough money to pay the bills.
wait… the fed budget is like our checking account!
Peadawg
July 20th, 2011
9:26 am
“Actually Peadawg, I don’t get your point as it’s pretty obvious you have never owned a home” – I moved from an apartment to a home 2 1/2 years ago and have regretted it ever sense.
So I guess, Bosch, please explain how owning a home is cheaper than renting? I’ll get my popcorn..this should be good.
USinUK
July 20th, 2011
9:26 am
Bosch – 9:23 – neither did I.
not to mention, if you have the right kind of mortgage (which we did), you actually have the incentive to pay the damned thing off EARLY … so, now the mister and I are totally debt-free and have been for a couple of years.
now, think about it – imagine if folks were actually incented to pay off their houses early – no more losing your house if you lose your job.
there’s a thought.
Paul
July 20th, 2011
9:26 am
Peadawg
Reference mortgage interest deduction: I believe the proposals are to cap the deduction to the value on the first $500,000 and eliminate it for second (vacation) homes.
Not completely eliminate it.
Granny Godzilla
July 20th, 2011
9:27 am
Dave R
It’s pretty obvious what you are kissing though…
Keep Up the Good Fight!
July 20th, 2011
9:27 am
The library of congress lies? Making note of that.
I saw that Rep. Joe Walsh yesterday (I think it was Hardball), still accusing the President of lying but did not say he was a liar….. a distinction (?) without a difference.
TaxPayer
July 20th, 2011
9:27 am
I sure am glad that I’m not one of those soon to be former social security recipients or soon to be former fed pensioners, etc. There are going to be millions of folks doing without the money they need to buy medicine and food and the house Republicans are just elated at that prospect. Good for them.
Dave R.
July 20th, 2011
9:29 am
“It’s pretty obvious what you are kissing though…”
Only to the clueless, which is why YOU might think so. . .
WAR
July 20th, 2011
9:30 am
i dont trust people who say “read the constitution”
i dont trust people who believe their party is the only one that can do the job
i dont trust people who keep the same smile longer than 3 seconds
i dont trust people who say “trust me”
i dont trust people who say “i dont see color”
Paul
July 20th, 2011
9:30 am
Bosch
If I may:
“please explain how owning a home is cheaper than renting?”
In some cases it is, in some cases it isn’t. Factors that can affect the outcome are length of time the asset is held, market conditions at time of purchase and sale, valuation of property relative to like properties, method of financing, condition of property, and a whole host of other things.
USinUK
July 20th, 2011
9:30 am
P’dawg – “I moved from an apartment to a home 2 1/2 years ago and have regretted it ever sense.”
bad timing (and/or bad investment) on your part doesn’t mean that houses aren’t a good investment overall.
Dave R.
July 20th, 2011
9:31 am
I don’t trust people who have blanket beliefs about those they do not trust.
Jay
July 20th, 2011
9:31 am
Of course, Gordon and our resident constitutional expert don’t understand that the reason the House, Senate AND at least three-fourths of the state legislatures voted to change the Senate election process was because the prior system had become grotesquely corrupt.
Nor do they understand that the drive to pass the 17th Amendment came out of the states themselves and was forced upon a reluctant Congress.
I understand that those are mere facts, which have less and less standing in this Age of Illusion. But I continue to believe they are important. I guess I’m just quaint that way.
WAR
July 20th, 2011
9:31 am
pea and bosch
which is cheaper: owning a home?
renting an apartment?
renting a home?
JohnnyReb
July 20th, 2011
9:32 am
Conservatives don’t like the gang plan because, like Obama’s constant whinning, there are no specifics. It kicks the can to the future where, guess what, there won’t be any agreement then either.
It should be clear to everyone that the only way to control spending is a constitutional amendement.
It should also be clear to everyone that Obama and his supporters oppose an amendment because it is diametrically opposed to their ideology.
Peadawg
July 20th, 2011
9:33 am
“(and/or bad investment)” – We did get a steal on it b/c it was foreclosed. Our neighbor bought the same floorplan and about the same size lot 2 years earlier when the neighborhood was new for $40k more.
Still don’t change the fact that apartments are cheaper if you factor in everything you have to purchase when moving into a house, bills, maintenance, etc.
Lord Help Us
July 20th, 2011
9:33 am
Pea, I have been in my current house for about 13 years. In fact, 22 more mortgage payments and there will be no more mortgage.
Life is a marathon, not a sprint…
Martin the Calvinist
July 20th, 2011
9:33 am
War, my account isn’t full of fees of any sort, might be slim in the account balance but I pay bills with the money I earn, not borrowed. The Federal government should do a little more of that.
Bosch, I took plenty of philosophy courses in college, I sure do understand relativity. I understand we can argue what is stupid spending all day long but there are some obvious ones like the federally funded research about subway noise is bad for subway riders.
At some point we as a country need to prioritize what spending is necessary and at what amount and stick to it.
Bosch
July 20th, 2011
9:34 am
Peadawg,
Have you ever been a landlord? Have you ever been a home owner? I am the later and have been the former as well.
When you are a landlord, you charge rent to cover all the expenses you mentioned above. If the tennant of any apartment actually went through the process to buy the home, it would be cheper for them to do so, as they could control the costs associated with the upkeep of the home.
Sorry you didn’t get to enjoy your popcorn for long.
Keep Up the Good Fight!
July 20th, 2011
9:36 am
Age of Illusion?….. perhaps Age of Delusion
Bosch
July 20th, 2011
9:36 am
“there are some obvious ones like the federally funded research about subway noise is bad for subway riders”
Have you ever worked on federal research grants? I know it’s fun and easy to nitpick about those kinds of things that to the lay man appears irrelevant. Some of it is sure, just like in any other system there is waste, but it is negligible and again is an easy point to come up with instead of addressing the real issues.
Brosephus
July 20th, 2011
9:36 am
@@
Got you and responded!!
Paul
At 9:21, somebody said take your Simpson-Bowles, turn that summb*tch sideways, and shove it straight up your candy a$$!!!!! (to paraphrase Dewayne “The Rock” Johnson’s trademark catchphrase)
Granny Godzilla
July 20th, 2011
9:37 am
JohnnyReb
How long does it take to get a constitutional amendment passed and why does the GOP want to wait that long to balance the budget?
Jefferson
July 20th, 2011
9:37 am
If you don’t get your way, attack the system.
WAR
July 20th, 2011
9:37 am
i dont trust people who introduce information completely unrelated to the topic:
(person #1) “you know the president and congress should really work together to get this debt ceiling thing done before it ruins the country”
(person #2) “if the president wasnt such a socialistic commie who hates America we could nuke iran with money we save from cutting taxes with oil drilling”
Peadawg
July 20th, 2011
9:37 am
“Sorry you didn’t get to enjoy your popcorn for long.” – Oh I’m going for 2nds seeing as your 9:34 made absolutely no sense. I don’t remember mentioning landlords.
RAMBLE ON!!!
July 20th, 2011
9:38 am
“broadly consistent with what we’ve been working on here in the White House.”
Hah, the only thing King O works on at the WH is his golf game.
Bosch
July 20th, 2011
9:38 am
Paul @ 9:30
Well sure, but in the general sense of things.
Peadawg
July 20th, 2011
9:39 am
Off to meetings…see y’all later!
Signs of progress on resolving debt crisis – NECN « SmartPrintSoftware
July 20th, 2011
9:39 am
[...] Take TurnABC News (blog)House defies veto threatWIVBNew York Times -Coshocton Tribune -Atlanta Journal Constitution (blog)all 5,368 news [...]
Dave R.
July 20th, 2011
9:39 am
:Of course, Gordon and our resident constitutional expert don’t understand that the reason the House, Senate AND at least three-fourths of the state legislatures voted to change the Senate election process was because the prior system had become grotesquely corrupt.”
Or that the political party systems endemic in the states could better assure an outcome that a state party desired. And of course our CURRENT two-party system is devoid of corruption, right, Jay?
“Nor do they understand that the drive to pass the 17th Amendment came out of the states themselves and was forced upon a reluctant Congress.”
Of course, no one actually blamed CONGRESS for the change, merely “politicians”. Of course, reading comprehension is cast aside by our host when he doesn’t have a means of actually debunking a point, so he has to “make up” another person’s contention. In many circles, that would be called dishonest; in journalism, it is accepted practice these days.
“I understand that those are mere facts, which have less and less standing in this Age of Illusion. But I continue to believe they are important. I guess I’m just quaint that way.”
Quaint? no. Snarky? Yes. Grasping at straws? Yes. Unable to face facts? Yes. Intellectually dishonest? Yes. Need I go on? No.
The point is made.
Bosch
July 20th, 2011
9:41 am
Peadawg,
“seeing as your 9:34 made absolutely no sense. I don’t remember mentioning landlords.”
I’m sorry you have reading comprehension problems, and considering you mentioned renting, you must include the price of renting which is done by the landlord.
Bosch
July 20th, 2011
9:42 am
Is it just me, or is Peadawg the king of “it happened to me this way, so that’s just the way it is?”
Martin the Calvinist
July 20th, 2011
9:42 am
Bosch, I’ve never worked on a federally funded research grant but my point is there are some stuff we can cut and we should be cutting. I’m not deliberately nitpicking but we as a country should stop overspending, surely that is a reasonable thing to do.
WAR
July 20th, 2011
9:42 am
i dont trust people who introduce information completely unrelated to the topic:
(person #1) “you know the president and congress should really work together to get this debt ceiling thing done before it ruins the country”
(person #2) “if the republigans would just give up their right to wealth with their farm subsidies and attacks on poor people who cut down trees with the American media for Big Bird, we could save the country from the land of aquarius”
Keep Up the Good Fight!
July 20th, 2011
9:42 am
Given the Orange Man’s golf record and Bush’s vacation and golf record, when I see posts about Obama’s golf game its usually a sign that the poster has been Foxwashed.
DBCOOPER
July 20th, 2011
9:43 am
Gang of six what? Cowards?
Lets face it citizens. Until we send to Washington the kind of people that will represent OUR best interest and not their re-elections we as a people and society are doomed. Almost 50% of registered voters believe the government should provide for their Healthcare, sustenance (food stamps), employment, education, etc.etc etc. It is simply not possible! Especially when only 50% of the people pay federal income tax. 40 cents out of every dollar spent by Washington is borrowed. How long do we as a society believe that can be sustained? Really come on please?! How long?
Medicare and Medicaid two entitlements that are out of control and breaking us aren’t even mentioned in the “Gang of Six” proposal. Those are the ticking bombs and because of political reasons no one, including our President will touch them. Because he knows he won’t be re-elected! But he has to know it will be our downfall! We need to wake up.
Goldie
July 20th, 2011
9:44 am
Let’s see… and how many times did the GOP hero Reagan implore Congress to do the right thing and raise the debt ceiling for America during the 80’s???? Reagan today would say “SHAME SHAME SHAME” to the GOP for allowing the extremist loonies to take over their Party.
USinUK
July 20th, 2011
9:44 am
“I don’t trust people who have blanket beliefs about those they do not trust.”
yay!
Signs of progress on resolving debt crisis - NECN | Breaking News
July 20th, 2011
9:44 am
[...] by KVIIHouse defies veto threatWIVBBipartisan Plan for Budget Deal Buoys PresidentNew York TimesAtlanta Journal Constitution (blog) -Coshocton Tribune -The Hillall 5,368 news [...]
@@
July 20th, 2011
9:44 am
Although I’m in favor of eliminating the mortgage interest deduction, Peadawg’s right. It WILL have an impact on the economic recovery. I read an article where previous homeowners have been snake bit by the housing collapse…they’re opting to rent instead of purchase. Either that or they’re anticipating an even lower price for the house of their dreams. I have a friend who just purchased a $350,000 foreclosure for $150,000.
The impact of the housing bubble is gonna be around for a long time.
Brosephus
July 20th, 2011
9:45 am
Is it just me, or is Peadawg the king of “it happened to me this way, so that’s just the way it is?”
You mean to tell me Peadawg’s famous?!!?!!?!?
http://www.youtube.com/watch?v=_hN1SKVx31s
WAR
July 20th, 2011
9:45 am
martin
i agree so things need to get cut or reduced and this includes some sacred cows. of course we need to arrive at a number that lessens the pain.
but we do need to raise taxes and close loopholes that benefit such a small portion of the country.
can you agree these two items go hand in hand (while we dont spend the money we are suppose to be saving)?
wont that work?
TaxPayer
July 20th, 2011
9:45 am
Need I go on? No
JohnnyReb
July 20th, 2011
9:45 am
Granny – the House plan caps expenditures and starts the amendment process. It does not “wait” until an amendment is passed.
News Channel » Signs of progress on resolving debt crisis – NECN
July 20th, 2011
9:46 am
[...] by KVIIHouse defies veto threatWIVBBipartisan Plan for Budget Deal Buoys PresidentNew York TimesAtlanta Journal Constitution (blog) -Coshocton Tribune -The Hillall 5,368 news [...]
Paul
July 20th, 2011
9:47 am
Brocephus
When I read the post about the Gang of Six/Simpson-Bowles Plan that said “it doesn’t have any real cuts, and it doesn’t touch entitlements”
I just chalked it up to the poster’ a charter member of the Age of Illusion.
I’m so pleased. I actually avoided a Vortex!
md
July 20th, 2011
9:47 am
The other side of the housing debate……one doesn’t HAVE to buy as much house as they qualify for…….that ole choices thingy……
As for the housing credit……no problem getting rid of it, but I would do it over a period of xx years…….in case you folks haven’t noticed, housing is a driver of the economy……and at the moment, it is driving in the wrong direction……taking away that credit now would be the death knell.
Chris
July 20th, 2011
9:47 am
Then let us hope that the House does not cave. There should be no increase in taxes until Washington shows that it can use the funds it already gets correctly. Letting increase revenues is akin to allowing a drunk another beer.
carlosgvv
July 20th, 2011
9:47 am
Dave R. 9:14
So, if this Senate plan breezes thru the House, then I will stand corrected and work on my political analysis. Of course, if it doesn’t, you will be the one who needs to keep your day job and stay away from political analysis. Right, Dave?
Jefferson
July 20th, 2011
9:49 am
I guess if Paul Broun would put his family in the street if he had an ARM and the rate adjusted up before he would make the payment. I wouldn’t vote for him.
The house vote yesterday is much like a kid being raised by parents of modest means asking for a Corvette for Christmas, knowing it is not going to happen. If the kid is not told the reality of the world he could be considered stupid (not dumb) for wasting time asking for something that ain’t going to happen.
Bosch
July 20th, 2011
9:49 am
“I’m not deliberately nitpicking but we as a country should stop overspending, surely that is a reasonable thing to do”
Yeah, you kind of are because it’s real easy to say we are overspending, when the spending levels haven’t really changed. I know it’s so easy to throw in Obamacare, the stimulus, etc. but if you offset that with the Iraq War and the stimulus during Bush’s administration, which at the time wasn’t considered “spending” — but yes, by all means, lets complain about a few thousand dollars going towards research which has the potential to advance our society (which, btw, must be explained in research proposals in explicit detail and carried out in order to be funded).
Paul
July 20th, 2011
9:50 am
@@
Pool temp was 93 an hour after the sun went down.
Any idea what it is down your way?
BTW – had a call from a friend in Sarasota, Fl. Said they still have condos ON the beach, $800K, now available for $225k, tops, but they’re expecting double-digit drops to hit. Must be more and more of those foreclosures.
Martin the Calvinist
July 20th, 2011
9:51 am
War, I am for cutting the “sacred cows”. And as I stated, I’m for a Tax system that is simple with few if any deductions so that even the “wealthiest” of Americans pay. The biggest problem with our tax code is that 1. Politicians use it to buy votes and 2. there are too many loopholes that allow people to evade paying. As I have also said before, we need more people paying taxes not more people dependent on other people’s taxes.
WAR
July 20th, 2011
9:51 am
i dont trust people who say “well thats just the way it is”
i dont trust people who attend church but dont volunteer
i dont trust people who dont like the government but receive social security medicaid and medicare
i dont trust people who believe people who own alot of guns are extremist
i dont trust people who use the word extremist
md
July 20th, 2011
9:52 am
And Bosch……the fundamentals of accounting don’t change because it’s a gov’t…..sure, they have a few more gimmicks they can use, but that doesn’t change the equation of income and expenses……either it’s there or not, and if not, it gets borrowed…..with interest.
Hence the current debate………..
NIght Train
July 20th, 2011
9:53 am
The main problem with raising taxes now is that for years and years both parties have claimed that we need to Cut Spending AND Raise Taxes. AND for years and years the Taxes have been Raised but the Spending Cuts never come.
So now we want the spending Cuts first, after a year or so we’ll add the raising taxes part.
But if we do the spending cuts correctly then we won’t need to raise the taxes near as much.
Oh by the way USinUK, I think the only people interested in your “uterus-uterus-uterus” are you and your partner.
TaxPayer
July 20th, 2011
9:53 am
So, if and when unemployment drops as a result of the much campaigned upon hype about jobs from the Republicans during the last election and tax revenues rise as a consequence, will Republicans be clamoring for another tax cut for the wealthiest in order to offset the increased tax revenue.
WAR
July 20th, 2011
9:53 am
“As I have also said before, we need more people paying taxes not more people dependent on other people’s taxes.”
that is a reasonable statement. i agree.
Gary
July 20th, 2011
9:54 am
I’m glad cut, cap and balance passed the House. If it didnt have the constitutional amendment (a big political mistake) it would only require majority of Senate to pass. In its absence, cut cap and balance is a start – I consider it a minimum alternative to default ( the McConnell plan does not pass this test in my book)
Schrodinger's cat
July 20th, 2011
9:54 am
Pea – “Sorry you didn’t get to enjoy your popcorn for long.” – Oh I’m going for 2nds seeing as your 9:34 made absolutely no sense. I don’t remember mentioning landlords.
He’s trying to tell you that all that stuff you think you’re not paying for in an apartment…you really are paying for and likely more for them and not what you would personally choose
Granny Godzilla
July 20th, 2011
9:54 am
Johnny Reb
So The GOP will balance the budget immediately?
Go for it.
@@
July 20th, 2011
9:54 am
I have to wonder why Obama was so cool to the Gang’s original plan? The Simpson-Bowles Plan?
My guess? He wanted to push the debate into its 11th hour. It’s impossible to accept this as ALL GOP ALL THE TIME. They’re the ones who have brought us to this point?
Thpbbpppt
Martin the Calvinist
July 20th, 2011
9:54 am
Bosch, we shouldn’t have gone to war without paying for it! But there are a lot of things we spend before we “pay” for it. That is a problem.
md
July 20th, 2011
9:54 am
“Said they still have condos ON the beach, $800K, now available for $225k, tops, but they’re expecting double-digit drops to hit. Must be more and more of those foreclosures.”
May as well go buy one, the rest of us are paying for them anyway……might at least want to use it…
USinUK
July 20th, 2011
9:55 am
“Still don’t change the fact that apartments are cheaper if you factor in everything you have to purchase when moving into a house, bills, maintenance, etc.”
which, if you invested well, are totally offset when you go to sell the house -
@@
July 20th, 2011
9:57 am
Paul:
Pool temp was 93 an hour after the sun went down.
Any idea what it is down your way?
Nosey!
My husband was called into work last night…there was, therefore, no reason to be in the pool after dark.
David
July 20th, 2011
9:57 am
“Enhanced revenues” LMFAO
TAX INCREASES!
Bosch
July 20th, 2011
9:57 am
“But there are a lot of things we spend before we “pay” for it. That is a problem”
Well sure Martin, it is, but the problem is what you see as “stupid” is someone else’s bread and butter. Someone can call it an earmark while another calls in economic development.
WAR
July 20th, 2011
9:58 am
i dont trust people who say the love the country but ridicule the president
i dont trust people who say they love the president but ridicule the country
i dont trust people who celebrate the fourth of july but not the troops
i dont trust people who read the bible but hate the quaran (which they havent read)
i dont trust people who like the jeffersons but not archie bunker (all in the family)
USinUK
July 20th, 2011
9:58 am
“Oh by the way USinUK, I think the only people interested in your “uterus-uterus-uterus” are you and your partner”
… and the panty-sniffers in the GOP
md
July 20th, 2011
9:58 am
“which, if you invested well, are totally offset when you go to sell the house”
I don’t think the 1/4 of folks over here that are upside down would agree with that one…….with more added as housing continues to fall…………..
Redneck Convert (R--and proud of it)
July 20th, 2011
9:59 am
Well, I got one word for you folks that worry about the mortgage interest deduction: T-R-A-I-L-E-R. You don’t worry about upkeep because the trailer park people take care of that. And if you don’t like where you live anymore, you can just put the wheels on it and move someplace else. And what diffrence does it make if it looses value? Nobody else wants to buy it anyway.
And I got a few words for this RINO Gang of Six: Shut it down! If we can’t get what we want we’ll just trash the place and let it be. Got my PBR and fried pork skins. Got a TV tuned to Fox News. And I could use a few weeks of rest. Just don’t come whining to me when you’re broke and out of work and you can’t get at your money or stocks. You had your chance to get rid of SS and Medicaid and welfare. You just wouldn’t see things the way I want them and now you’re about to pay for being stubborn. We don’t have to do nothing to shut it down—just wait till August 2.
You been sticking it to us for years. Now you’re about to be the stickee and we’re about to be the sticker.
And one more thing: Bachmann-Palin in 2012. Get ready to pray, all you gays.
Have a good Wednesday everybody.
USinUK
July 20th, 2011
9:59 am
Paul – 9:50 – send some of that sunshine my way!!!
Kamchak
July 20th, 2011
10:00 am
I don’t really care to read about other peoples trust issues.
Left wing management
July 20th, 2011
10:00 am
Martin The Calvinist: It’s good stewardship of the peoples money not to overspend or spend on stupid stuff. Overspending has put us in a bad position.
Nope. The Bush tax cuts and unfunded wars, combined with a disastrous recession, have put us in the current position, not overspending.
Don’t you KNOW that?
JohnnyReb
July 20th, 2011
10:01 am
No Granny, the House plan does not balance the budget immediately, but it does put real steps in place to do so.
Some People are stupid
July 20th, 2011
10:01 am
Am I the only one who finds it funny that the House passed a billed that requires a balanced budget..but yet there budget didn’t balance.
Jefferson
July 20th, 2011
10:01 am
No need to cut SS, it just needs funding – raise the tax and the ceiling. It has added nothing to the deficit.
Brosephus
July 20th, 2011
10:02 am
Especially when only 50% of the people pay federal income tax.
Dammmmit!!!!!! Who left the gate open and let another 3% into the club???
@@
I think the mortgage deduction plan calls for elimination of deductions on 2nd mortgages and caps interest deductions to $500k on the first mortgage. Most of the middle class won’t notice the difference. The exception are those who own multiple homes w/mortgages.
Mick
July 20th, 2011
10:03 am
dave r
**Unlike you, I don’t kiss the altar of either party**.
What a crock! You easily defame the dems, occasionally disagree with repub moral issues then claim to be an independent. You are a closet repub – and you know it…
Paul
July 20th, 2011
10:04 am
Martin the Calvinist
I don’t believe we’ve gone to war (minor actions excepted) and paid for it in real time in either this century or the last. Maybe Truman in Korea. But that’s about it.
ty webb
July 20th, 2011
10:04 am
“Nope. The Bush tax cuts and unfunded wars, combined with a disastrous recession, have put us in the current position, not overspending.
Don’t you KNOW that?”
so good to see someone else on the blog who enjoys a good bourbon(or 5) in the AM.
BIinv
July 20th, 2011
10:04 am
I am a lifetime Republican, Conservative, tea party sympathizer and I have come to the conclusion that Sean Hannity, Grover what’s his name, and the “never compromise” bunch in the House are complete idiots.
Spending cuts
Reform entitlements
Lower tax rates
Broader tax base
What’s not to like?
We will never have another chance like this to reform entitlements, who cares if I lose some deductions, we are headed for a serious crisis in a couple years that will mean serious pain for everyone – unless you pull in $15 mm a year as a radio talk show host.
I am really pissed.
News Channel » Obama, lawmakers assess a new debt plan – USA Today
July 20th, 2011
10:04 am
[...] PhiladelphiaSigns of progress on resolving debt crisisNECNNew York Times -WLTZ 38 NBC -Atlanta Journal Constitution (blog)all 5,574 news [...]
DBCOOPER
July 20th, 2011
10:05 am
The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. – Barack Obama
Just had to put it on here again. It speaks volumns about how political our government has become.
God help us.
M
July 20th, 2011
10:06 am
I love pointing out to homeowners that are dead set against welfare that they live in government-subsidized housing and likely collect a bigger check each month from Uncle Sam than the people whose benefits they can’t wait to cut.
Obama, lawmakers assess a new debt plan – USA Today (blog)
July 20th, 2011
10:06 am
[...] debt crisisNECNBipartisan Plan for Budget Deal Buoys PresidentNew York TimesWLTZ 38 NBC -Atlanta Journal Constitution (blog) -Coshocton Tribuneall 5,574 news [...]
N-GA
July 20th, 2011
10:06 am
Good morning, Paul.
Yes, the cost of renting may or may not be cheaper than owning. But if the mortgage interest deduction is eliminated or phased out, do you think that people who buy properties under a corporate structure should continue to be allowed both interest deduction (as a business expense) as well as depreciation? Once again the advantage would seem to be with corporatists (my word).
As far as condos in Florida, the risk (I’m told) is that many of the HOA’s are belly-up. Facilities are in desperate need of repair (pools, clubhouses, etc.). Security is minimal to non-existent. Owners are subject to substantial assessments, but many are unable to pay so the HOA files foreclosure papers on them.
Jefferson
July 20th, 2011
10:07 am
Dang DB real orginal thinking there. Has anyone heard that before ?
Mr. Snarky
July 20th, 2011
10:07 am
Tick…tick…tick
I’m just glad I’m not dependent on Social Security with the inmates running the asylum in the House.
Darko
July 20th, 2011
10:07 am
It is doomed as it’s more of the same. We’ll tax more, we’ll cut mostly unspecified amounts in the future. That’s why all the past deals never worked either.
It’s easy to get bi-partisan support for something that doesn’t really address the problem.
@@
July 20th, 2011
10:08 am
SoCo:
2nd mortgages and caps interest deductions to $500k
That’s the way it was originally written. Who the heck knows what it says now? They’re discovering crap in Obamacare that they didn’t know was there.
They’ve made sure the pantry is overstocked. Prevents us from seeing their can of worms.
Left wing management
July 20th, 2011
10:09 am
Blinv: “cares if I lose some deductions, we are headed for a serious crisis in a couple years that will mean serious pain for everyone – unless you pull in $15 mm a year as a radio talk show host.
I am really pissed.”
I hear you can still catch David Brooks down at the corner bar, you can drown your conservative rationalist’s miseries with him.
Fletch
July 20th, 2011
10:09 am
Jimmy62 – “and seems to be more about making sure Obama can get reelected than anything else.”
Wow, Georgia Republican Senator Saxby Chambliss WANTS Obama to get re-elected? Who knew?
M
July 20th, 2011
10:10 am
I propose we quit saying “deductions” and start saying “subsidies” from here on out in this thread and see whose heads start spinning.
WAR
July 20th, 2011
10:10 am
i dont trust people who dont eat meat
i dont trust the lady next door who always wears a see-through robe to the mailbox
i dont trust the fact that my blinds seem to always be open when she goes to the mailbox
i dont trust women who want chilvary but claim to be independent
i dont trust kids who say “will we get credit for this”
i dont trust mechanics who wear latex gloves when they work on cars
Paul
July 20th, 2011
10:11 am
9:50
“and we’re about to be the sticker. And one more thing: Bachmann-Palin in 2012″
Something sounds wrong with that construction, Redneck. Your wife sees that, you better watch out for cast iron frying pans….
Left wing management
July 20th, 2011
10:13 am
Fletch: “Jimmy62 – “and seems to be more about making sure Obama can get reelected than anything else.” / Wow, Georgia Republican Senator Saxby Chambliss WANTS Obama to get re-elected? Who knew?”
Hee hee.
USinUK
July 20th, 2011
10:14 am
md – 9:58 – well, when you buy at the top of a bubble, what do you expect?
however, taking the bubble-effect out of the equation, MOST of the time / during a NORMAL economy, houses are a good investment and any repairs / upkeep / furniture you buy is more than recouped upon resale
Brosephus
July 20th, 2011
10:15 am
Paul @ 9:47
I’m proud of your avoidance too!!!
md
July 20th, 2011
10:15 am
“As far as condos in Florida, the risk (I’m told) is that many of the HOA’s are belly-up.”
As well as the hold out speculators that can hold on no longer and must let their 6 condos go….many didn’t want to take that hit on their credit, but now have no choice……one can only hang on so long……
Paul
July 20th, 2011
10:16 am
G’morning, N-GA
Short answer: nope.
I have trouble with the entire ‘corporation’ buys it. Folks live on a lake. Many of the properties are weekend homes for people Owned by corporations. But the current tax law gives huge advantages to people to have their corporation buy it. Seems an easy target to me.
That’s an excellent point about HOAs. Some people have been surprised by the tax assessment when they bought a home. People need to do HOA investigation as part of their due diligence.
godless heathen
July 20th, 2011
10:16 am
I don’t think in the long run that renting is cheaper than owning a home, but nevertheless isn’t quality of life worth something? I own a home where can I play the stereo as loud as I want, I can own a great big dog, I can enjoy fresh eggs from my own chickens and fresh veggies from my garden, and I can pee off the back porch. You can’t put a dollar value on those things.
RF
July 20th, 2011
10:16 am
As all the normal sniping here continues, consider this: the House, based solely on their desire to cater to the far-right, is willing to pass up a chance to reduce government size and spending by the largest margin in the history of this country so that they can simply oppose this president. They are letting that single-minded purpose make them look ridiculous. All they give in the short term is what they gave every president- a debt ceiling increase. In this case, it is more than offset by spending cuts and changes to Medicare and SS that should make conservatives cheer and which would seriously fracture the Democratic party. Even when he gives them things they clearly want, the House cannot accept it simply because it has the support of the president. There is no way out of this mess because the House simply won’t allow anything to pass that the president supports. All he has to do is announce support for the ridiculous bill they passed last night and that too would be dead.
willie lynch
July 20th, 2011
10:17 am
DBCOOPER
July 20th, 2011
9:43 am
It sounds good that we might be able to send some Jimmy Stewart type to Washington and have him speak for the people but in reality who are these people? The Repugs thought Sarah Palin or Mike Huckabee were the right folks to defend their Constitution and bring the government back to the people. Well it turns out tha money talks and bull**t gets you more money.
Palin and Huckabee have decided they would rather keep raking in the money over standing and defending the Constituition as they so vociferously claim. When it came down to making millions these two champions of the people sold the cause down the river.
So who will defend “OUR” interests? I think Americans should realize we have come to the end of this system that we live under. Time dictates the agenda.
Recon (2nd.and 3rd.)
July 20th, 2011
10:17 am
Easy solution as all Obama and the Senate Democrats need to do is accept the cut, cap and balance bill.
WAR
July 20th, 2011
10:17 am
i dont trust guys who say “ill kill my son if hes gay”
i dont trust guys who dont let their wives have girlfriends
i dont trust guys who know the real names for colors (that’s not blue… its midnight blue)
i dont trust guys who dont show affection to their kids
i dont trust guys who have never said “pull my finger”
Bosch
July 20th, 2011
10:17 am
I own a home where can I play the stereo as loud as I want, I can own a great big dog, I can enjoy fresh eggs from my own chickens and fresh veggies from my garden, and I can pee off the back porch. You can’t put a dollar value on those things
Testify!!
Laurie
July 20th, 2011
10:18 am
Neither option is any good. But I admit, I’m surprised the house isn’t jumping all over the ‘Gang of Six’ plan. After all, it does exactly what they want. It raises taxes on the middle class by reducing tax credits which benefit that group the most, reduces spending on social security, medicare, and medicaid, and gives top earners a 6% tax cut. Makes me sick that Obama is actually speaking out in favor of it.
Mick
July 20th, 2011
10:18 am
The great result of the next election will show which side is really the minority party. The current house of reps is intransigent, nothing will get done. What’s the message to the world anyways? A government that can’t govern? Fear not; this too shall come to pass…
md
July 20th, 2011
10:20 am
“I propose we quit saying “deductions” and start saying “subsidies” from here on out in this thread and see whose heads start spinning.”
Considering line 40 on the 1040 is nothing but deductions, I’d say it pretty much applies to everybody….so doesn’t really matter what one wants to call it………
Fletch
July 20th, 2011
10:21 am
Laurie – “But I admit, I’m surprised the house isn’t jumping all over the ‘Gang of Six’ plan”
Normally they would, but Obama accidentally said that he “likes” it. Thereby dooming it to a hideous death by the party faithful. Pray to God that Obama never says he likes clean air and water.
USinUK
July 20th, 2011
10:21 am
godless – “and I can pee off the back porch. You can’t put a dollar value on those things”
Doggone/GA
July 20th, 2011
10:21 am
“Makes me sick that Obama is actually speaking out in favor of it.”
No kidding! He should go around saying it’s the worst thing that could happen to the country. The House would pass it in a heartbeat. Then he could switch to telling the TRUTH about it, and the Senate would pass it.
DBCOOPER
July 20th, 2011
10:21 am
Hey Jefferson here’s one you may not remember.
The President does not have power under the Constitution to unilaterally authorize a military attack in a situation that does not involve stopping an actual or imminent threat to the nation,”
Barack Obama
The Hope and Change we all voted for………NOT
M
July 20th, 2011
10:23 am
md, the point is that we all get government money. But when someone cuts YOUR (not necessarily yours, md) money, there is OUTRAGE.
(other people’s money is fair game, especially if they’re poor and didn’t work for it)
Paul
July 20th, 2011
10:23 am
DBCOOPER
If you’re referring to Libya, isn’t that a NATO op?
You saying we should ignore our treaty obligations?
WAR
July 20th, 2011
10:23 am
how can America accept the cut cap and balance when it is painfully unfair to the poor, old, and middle class? if it were not so disproportionately unfair, it would be a good idea. the concept is really a good idea. but the burden must be shared on those who can weather the storms, and not on the backs of those who get drenched everytime anyway.
Keep Up the Good Fight!
July 20th, 2011
10:23 am
pee off the back porch
I must have missed that in the realtor’s description of the home. “Great curb appeal, 2 story, 5bd room, great deck that screams pee off me.”
There are some things that are just not factored into home design.
Left wing management
July 20th, 2011
10:24 am
Recon: “Easy solution as all Obama and the Senate Democrats need to do is accept the cut, cap and balance bill.”
The so-called balanced budget amendment is a complete joke, Recon, and you know it.
No serious person — and I mean NO — can hear the mention of it without either wincing or guffawing, or both.
USinUK
July 20th, 2011
10:24 am
“There are some things that are just not factored into home design.”
yeah, I’ve never heard Candace talk about that particular “feature” in Divine Designs …
md
July 20th, 2011
10:25 am
“however, taking the bubble-effect out of the equation, MOST of the time / during a NORMAL economy, houses are a good investment and any repairs / upkeep / furniture you buy is more than recouped upon resale”
And I would agree with that…….but we are still on the downside of that bell shaped curve and buying now is still a toss up………just read where some are predicting an additional 20% drop in value…….
USinUK
July 20th, 2011
10:26 am
md – and … again … NORMAL economy … as Madge might say, we’re not soaking in it
Paul
July 20th, 2011
10:27 am
DBCOOPER
Or, are you saying you’re glad Pres Obama has changed his views since he’s assumed the presidency and you applaud his action in Libya?
Recon (2nd.and 3rd.)
July 20th, 2011
10:28 am
Lwm, I guess you think bankruptcy is the better option. No serious person can believe that we can continue borrowing money and running up the national debt.
AT
July 20th, 2011
10:28 am
Raising the debt ceiling is a necessary evil because of the irresponsibility of the federal gov’t. That’s something we can’t avoid and must live with, it’s reality. But the “Six” plan does nothing to remedy the problem. It raises taxes on the middle class, has paltry deficit reduction stretched over a decade and established no permanent fix for the problem, which is gov’t itself. If they’d add the balanced budget amendment to it, it would give value to this worthless deal. But absent of it, it’s just kickin’ the can…
md
July 20th, 2011
10:28 am
OK M…….
Rightwing Troll
July 20th, 2011
10:29 am
“They control half of Congress and have not control or influence over the executive branch that has shown no leadership and is more interested in reelection with 31 fund raising events in the last quarter and would rather grandstand and demagogue.”
I’d say it’s the House members who are more interested reelection, they made a reckless “pledge” that forces them into this “no compromise” corner they dare not attempt to escape, even if it means defaulting and sending the economy into a tailspin that it doesn’t need right now.
N-GA
July 20th, 2011
10:29 am
Those homes should be easy targets….much like airplanes and boats. Every person I know who owns a plane or a large pleasure boat shelters it in an LLC or similar structure. They write off interest and operating expenses while depreciating the asset. The occasional “charter” or “rental” allows them to appear legit. The same hold true for “vacation rentals”.
These benefits are, theoretically, available to everyone but are only used by the wealthy.
BTW – with regard to HOA assessments, these are not tax assessments. They are usually one-time demands for funds to repair or improve common areas. Examples might include pool repairs, painting, re-paving, etc. The ability to charge these assessments is spelled out clearly in the HOA covenants. These assessments also occur with Country Club memberships.
md
July 20th, 2011
10:30 am
“md – and … again … NORMAL economy … as Madge might say, we’re not soaking in it”
But isn’t your “normal” based on the past? I’m not too sure we will get back to that normal……
Jefferson
July 20th, 2011
10:31 am
Good one DB, I just don’t belive what many people say. Trends you can follow, words mean little anymore to many.
Uncle Joe
July 20th, 2011
10:31 am
“Sensible, responsible people understand that the deficit has to be addressed by a combination of spending cuts and revenue increases” Oh really? Revenue increases in a increasingly stagnant economy is not sensible! In addition, the so-called “Gang of 6″ want to lower standard deductions such as mortgage interest (that will really help the housing industry), charitable giving (the feds no what charities are best, not us), and medical expenses (affordable healthcare?).
Sensible people realize that businesses need incentives likie tax CUTS and reduced government interference. It was out of control spending by the Obama regime that got us into this mess (and to a much lesser degree, the Bush administration), not small businesses that now seem to be a specific target for destruction. How many “increased revunues” were already wasted on the “stimulus” bill, cash for clunkers, ACORN and the bailout of still failing automotive companies? Sensible people don’t deal with clueless failures like Obama. To paraphrase Reagan: The government is not the solution, the government is the problem.
Jack
July 20th, 2011
10:32 am
We can blame all the problems in Washington on those doggone rich people. And corporations. We need to send all the rich people to another country and close all the corporations. That’ll fix everything.
WrteStufLA
July 20th, 2011
10:34 am
Whatever the drama and proposed “Grand Bargains” between now and August 2nd, nothing will stop Paul Ryan, Eric Cantor and that domestic terrorist Grover Norquist from strapping suicide vests onto the right wing nuts and sending them onto the House floor. No matter what, we’ll soon hear some final, zealous shrieks of “In the name of the Sweet Baby Jesus, we hereby destroy the village in order to save it!!” It’s what they want. It’s what they’ve ALWAYS wanted. And absolutely nothing will stop them.
Rightwing Troll
July 20th, 2011
10:34 am
You know that scene in Full Metal Jacket, where the prostitute is trying to gin up some business with three or four GI’s standing around? You know, “me so horny” and “me love you long time”, but when they push the black guy forward she suddenly refuses? That’s a good analogy for what goes on in the house these days…
Consider the house Republicans in the role of the prostitute, she/they loved W, his congress (and budgets) looooong time, but when the black guy steps up…
WAR
July 20th, 2011
10:35 am
i used to pee off my back porch. but in an apartment and on top of the neighbors head really doesnt make for a happy situation.
WAR
July 20th, 2011
10:36 am
rightwing troll
lolololololololol hahahahahahahahahahahahahaha hehehehehehehehehehehehe ohohohohohohohohoh!
Sam
July 20th, 2011
10:36 am
Obama owns this problem. For he could have avoided it a year ago. And he still has the ability to do something about it. Cutting Federal spending across the board will not work because everyone in Congress has their own personal agenda. But he could cut the size of government by cutting some agencies by as much as 80% and others by 20%. Simple fact is, he loves to give speeches everyday, when he should be at work trying to lead. And too, when he says that everything should be on the table- well, he is the one who has made the largest list of things that HE refused to put on the table. So he has failed all of us by stopping at nothing to get his agenda approved just as he did with his healthcare program which is now part of what is holding the economy back.
md
July 20th, 2011
10:37 am
Shelia? is that you??
Keep Up the Good Fight!
July 20th, 2011
10:37 am
Cap, cut and deceive is just utter nonsense. Thankfully sensible people would never pass it.
Left wing management
July 20th, 2011
10:38 am
Recon: “Lwm, I guess you think bankruptcy is the better option. No serious person can believe that we can continue borrowing money and running up the national debt.”
If bankruptcy is really what you’re worried about, then it’s simple.
Let’s allow the Bush tax cuts to expire and slash the military budget by 33% over the next 15 years and that should get us well on the way.
Sounds great doesn’t it? Or is bankruptcy really what it is that’s eating you?
WAR
July 20th, 2011
10:38 am
when the sanest guy who may run against the prez and may have the best chance of winning is a guy who wanted his state to leave the union…repubs are in trouble.
they played this debt ceiling thing wrong and i am really pissed about it.
Schrodinger's cat
July 20th, 2011
10:38 am
who scheduled the sock-puppet parade today?
USinUK
July 20th, 2011
10:38 am
md – “But isn’t your “normal” based on the past? I’m not too sure we will get back to that normal……”
which normal? the 1950s? the 1970s? late 1990s?
I said “normal” when I should have said “stable” – the global economy is many things right now, but stable ain’t one of them.
USinUK
July 20th, 2011
10:39 am
Keep up – “Cap, cut and deceive is just utter nonsense”
doncha know?
it’s the new “fair tax”
Brosephus
July 20th, 2011
10:40 am
RWT
Talking about this:
http://www.youtube.com/watch?v=JEEWE7gcPw0
and this:
http://www.youtube.com/watch?v=gyGOJ1_kcI8&feature=related
ty webb
July 20th, 2011
10:41 am
That’s it!…Rightwing Troll is Shelia Jackson Lee!…Sheila Jackson Lee is Rightwing Troll…
md
July 20th, 2011
10:41 am
usuk……how long do you think Germany will prop up the rest of those folks over there??
Joe Cool
July 20th, 2011
10:41 am
How much did it cost for the house to come in session to vote on a bill they knew would not go pass the house? Yep, thats what the cons would call wastefull spending….just sayin!
WAR
July 20th, 2011
10:41 am
Sam
can you give two agencies that should be cut by 80% and two by 20%? and the reasons why?
this really does sound interesting?
Keep Up the Good Fight!
July 20th, 2011
10:44 am
USinUK…but it makes a pretty pretty bumper sticker. Yes it is the new “Fair Tax”. It is also clear that “balanced budget” requirements are part of the reason the states are struggling.
WAR
July 20th, 2011
10:44 am
rwt
in the movie, the reason why she refuses is because she says his “stick” is too big. i guess the african proverb “walk light and carry and big stick” is personified through the president. go figure.
WAR
July 20th, 2011
10:45 am
who is sheila jackson lee? obviously shes black with a name like that but what else should i know about her?
@@
July 20th, 2011
10:45 am
HOAs?
They are usually one-time demands for funds to repair or improve common areas.
One time doesn’t apply in subdivisions. HOAs are an infringement on individual freedom. They can dictate what color you paint your house, what color tiles go on your roof, the landscaping around your house, any additions or remodeling you may be considering, how many people can reside within, as well as where you can park your cars.
Give me 80 acres and no nosey neighbors.
md
July 20th, 2011
10:47 am
“obviously shes black with a name like that but what else should i know about her?”
In all her infinite wisdom, she basically blamed the debt crisis on the fact that Obama is black………
WAR
July 20th, 2011
10:49 am
i like HOAs. keeps the minorities out.
md
July 20th, 2011
10:49 am
“HOAs are an infringement on individual freedom.”
Not really……folks are willing give up that freedom when they choose to sign that contract…….so it is a choice.
Keep Up the Good Fight!
July 20th, 2011
10:49 am
USinUK….did you see the Daily Show piece on Rupert last night?….
Joe Cool
July 20th, 2011
10:50 am
“i like HOAs. keeps the minorities out.”
Idiot post of the day!
Jack
July 20th, 2011
10:51 am
When Saxby and Obama can agree than there is still hope for this union, the truth is usually in the middle and we seem to be getting closer. Peace
ty webb
July 20th, 2011
10:51 am
well, she is black(though that’s irrelevant)…she race baits at the drop of a dime, so that makers her either a democrat congresswoman, a “journalist”, or some sort of “reverend”…anywhoo, just google her.
RF
July 20th, 2011
10:52 am
“Consider the house Republicans in the role of the prostitute, she/they loved W, his congress (and budgets) looooong time, but when the black guy steps up…”
That has to be the funniest thing I’ve read in a while!!
Cut, cap, and balance is a nice way of saying, “now we’re REALLY going to pull the plug on grandma.”
WAR
July 20th, 2011
10:52 am
oh yeah. naw. shes wrong on this one. its not racism. its radicalism on dems and repubs.
DBCOOPER
July 20th, 2011
10:53 am
Jefferson – That was my point exactly.
Paul – Ghaddafi is a crook and murderer. My point is Obama does everything with his political future in mind. He is such a hypocrite it’s pathetic
Last point – This guy made a claim of being different. In reality he is as bad as or worse than any we’ve had in the Whitehouse. Total Slime!
Just look at how the Healthcare bill went down. Criminal at best.
WAR
July 20th, 2011
10:55 am
md
rwt made a juxtaposition that was pretty accurate… and damn funny!
WAR
July 20th, 2011
10:59 am
j cool
“i like HOAs. keeps the minorities out.”
but it does. the few people who dont want to follow the rules about keeping their grass cut and not paint their house dog poop brown and not have a used car lot in their driveway will not want to come in my neighborhood. i know when you say the statement you figured minority as in “color”. im talking about minority as in “common” attainments.
Brosephus
July 20th, 2011
11:00 am
HOA’s have began foreclosure proceedings on some people too. I read that on Yahoo, I think. I never knew HOA’s had the power to foreclose on people….
Uncle Jed
July 20th, 2011
11:01 am
A peek at the calendar tells me that Aug. 2 is now 13 days away.
+++++++++++++++
Just another hot and steamy Tuesday in Georgia. Ho Hum…..
WAR
July 20th, 2011
11:04 am
i dont trust people who cut you off and curse you out while on their way to church
i dont trust people who see race in everything
i dont trust people who see race in nothing
i dont trust people who say “get over it”
i dont trust people who let dogs in their kitchen while they cook
Abrazos
July 20th, 2011
11:08 am
“strapping suicide vests onto the right wing nuts and sending them onto the House floor.”
Great point, WrteStufLA. The word “terrorist” is precisely the corollary that applies here. The Tea Party Republicans ARE like Islamic terrorists, willing to blow up themselves and all innocent bystanders in order to commit a Fatwa in service to their Allah (the Koch brothers, Grover Norquist, etc.). With increasing revulsion, as the public becomes more aware of the damage to America that the Tea Party aims to do, it’s a safe bet they’ll be kicked out after the 2012 election. They can sure do a heck of a lot of harm in the meantime.
WAR
July 20th, 2011
11:09 am
well folks its been a pleasure. but i gotta go. but always remember: WAR is hell, but so is a bathroom after three bean burritos from taco bell.
real john
July 20th, 2011
11:28 am
Look on the bright side, we only have 471 days until the most underqualified and damaging President in U.S. history is gone!!
Although with the stupidity of this country, I don’t take anything for granted
Ayn Rant
July 20th, 2011
11:30 am
There’s but one sensible approach to the debt ceiling problem: eliminate it! It’s just a political contrivance to avoid budgeting real spending cuts and revenue increases.
Eliminate the debt ceiling and develop a federal budget! The debt ceiling is useless; the budget is a constitutional responsibility of the Congress.
$?
July 20th, 2011
11:45 am
Why do some many people lump medicaid, with social security and medicare? And why do some many people say that medicaid is a program for the working people? I don’t know too many people working and also receiving medicaid. What happened to the belief in what can you do for America, instead of what can America do for me? Why do some many people hate millionaire’s and billionaire’s (CEO’s and small business owners, not the movie stars, rock stars, lottery winners, or athletes)? Isn’t that the American dream? Do you really think that they are getting tax cuts? Don’t yo people understand that the tax rate is a graduated thing, and that they pay 70% of all Americans tax burden. Do you think it is fair that 5% of the population shoulders the burden, and you want more from them? Charity and Welfare are great when a person willing gives, not when it is forced. The attitude that liberal media has created and is creating is a poison that will destroy this great country and crush the American Dream. People aren’t entitled to anything, except freedom, life, and the pursuit of happiness; not food stamps, not HUD housing, not medicaid. People’s paychecks are
Billybob
July 20th, 2011
12:00 pm
separated at birth:
jay bookman…..liberal political hack
Billybob
July 20th, 2011
12:04 pm
A balanced budget amendment is only thing that will make sure this doesn’t happen again, PERIOD……reid won’t allow a vote and hussein will veto because they know that their ‘cash cow promises’ in order to gain power will be eliminated and they also know that 3/4 of the states would ratify it very quickly……bookman, any responsible person who wants to make sure this will not happen again will accept this notion…….
Dick
July 20th, 2011
12:11 pm
When the “Gang of Six” are done, the federal government will have so much of what I make, I will never be able to retire. I will lose the bulk of my 401K deduction, the mortgage interest and taxes on our retirement home, which is our current “second home”, and the charitable deductions we personally sacrifice to make. But, hey, at least, the top 1% of income earners will have their taxes “flattened” by six percent. So glad I could help!
WOODSTOCK MIKE
July 20th, 2011
12:15 pm
Jay is right on this, increased revenues need to be included along with major spending cuts. So long as the increases are reasonable the GOP will look very foolish if they don’t accept. Lets get this deal done and move forward!
LOL
July 20th, 2011
12:18 pm
To Jay and all of you like minded liberal Democrats; I have a few words of wisdom for you to ponder.
” I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle” – Winston Churchill.
Please try to remember this next time your first reaction to a crisis is to increase taxes.
$?
July 20th, 2011
12:19 pm
This is not a Republican vs Democrat. It is not even a class issue, poor vs rich. It is capitalism vs communism. There is a large group of pathetic, lazy, worthiness, unemployable, drug addicted, not responsible for there own actions people out there that have adopted an illogical belief that they are entitled to something. This attitude is a cancer to the American Dream. Liberals want to stoke this belief, because once capitalism is destroyed, then they swoop in a take over every company, business, man, woman and child. How many of you liberals out there, heard about the protesters in China that were gunned down last week? What about North Korea? Do you think those people are happy? Look at Greece, Portugal, Spain, Italy, England, Ireland, are those countries going bankrupt because of their crazy liberal policies and entitlements? The Answer is Yes. The liberals and their media power houses are shepards leading the sheepeople to their slaughter, they are just fattening you idiots up.
seabeau
July 20th, 2011
12:38 pm
20 years ago I saw that the finances of our federal government were going to the dogs,so I started investing the Gold and Land. I now hope that a compromise bill fails and that the resulting fiasco brings about a Constitutional Convention to for once and for all restrict the power of the Federal government to those powers expressed in the Constitution in the 10th Admendment.
BigDave
July 20th, 2011
12:41 pm
Reject it House Republicans,don’t cave on the Debt ceiling to “President” Barry!
redneckbluedog
July 20th, 2011
12:46 pm
Robert Aderholt (AL-4),Todd Akin (MO-2),Rodney Alexander (LA-5),Michele Bachmann (MN-6),Joe Barton (TX-6),Roscoe Bartlett (MD-6),Gus Bilirakis (FL-9), Rob Bishop (UT-1), Michael Burgess (TX-26), Paul Broun (GA-10),Dan Burton (IN-5),John Carter (TX-31),Howard Coble (NC-6)
Mike Coffman (CO-6),Ander Crenshaw (FL-4)John Culberson (TX-7),John Fleming (LA-4),Trent Franks (AZ-2),Phil Gingrey (GA-11),Louie Gohmert (TX-1), Tom Graves (GA-9),Ralph Hall (TX-4),Gregg Harper (MS-3),Wally Herger (CA-2),Pete Hoekstra (MI-2),Lynn Jenkins (KS-2)
Steve King (IA-5),Doug Lamborn (CO-5),Blaine Luetkemeyer (MO-9),Cynthia Lummis (WY),Kenny Marchant (TX-24)Tom McClintock (CA-4), Gary Miller (CA-42),Jerry Moran (KS-1),Sue Myrick (NC-9)
Randy Neugebauer (TX-19),Mike Pence (IN-6),Ted Poe (TX-2),Tom Price (GA-6),Denny Rehberg (MT),Phil Roe (TN-1), Ed Royce (CA-40),Steve Scalise (LA-1),Pete Sessions (TX-32),John Shadegg (AZ-3),Adrian Smith (NE-3),Lamar Smith (TX-21) , Cliff Stearns (FL-6),Todd Tiahrt (KS-4) ,Zach Wamp (TN-3),Lynn Westmoreland (GA-3),Joe Wilson (SC-)…
All of these people aren’t evil…Some of them are just stupid, some are racist and hate the president, some of them are most likely insane, and some are just politically ambitious…
All of them will be to blame if the government shuts down….
Bill Campbell
July 20th, 2011
12:51 pm
All these Republicans will be voted out!!
redneckbluedog
July 20th, 2011
12:52 pm
$? @12:19…
This isn’t capitalism vs. communism nor socialism nor anything else…This is about the thoughtful vs. the ignorant….Every junkie and welfare recipient you listed costs this country less collectively than oil and gas subsidies and tax loopholes for millionares and corporations….If you are a “job creator” and complain about taxes and regulations, maybe you need to work harder and focus on your business rather than blame the government, and by government I mean OBAMA…It’s not his fault that your customers are tired of being ripped off…or maybe you should go into another business altogether rather than ship jobs overseas….Capitalism works both ways…and it can still work without letting senior citizens die on the street….
Jeffrey
July 20th, 2011
12:57 pm
It seems to me that the gang of 6 is doing what is right for thier respective parties and not what is needed for the country.
WOODSTOCK MIKE
July 20th, 2011
12:57 pm
“oil and gas subsidies and tax loopholes for millionares and corporations”
These laws were created by both Democrats and Republicans. Also, if you think that Republicans want senior citizens to die on the streets you are the ignorant one. Medicare and Medicaid are programs that will be changing regardless of who is in office, face reality, if the system is going bankrupt choices must be made, if you want to blame Republicans to make yourself feel better go ahead… Blaming corporations and millionaires is so tired, come up with something else…
Rightwing Troll
July 20th, 2011
12:57 pm
I’m with @@ on HOA’s… but for slightly different reasons.
They are a contract entered into voluntarily, so It’s not a freedom issue, but they do always seem to denigrate into a few lonely, repressed people trying to dictate how everybody around them should live. I’ll never live in a neighborhood that has mandatory HOA requirements. I already have a rental in one of those neighborhoods, and have had a few go rounds with the HOA over weeds in the yard. “Weeds in the yard” is just another nomenclature for additional fees for a cash strapped HOA…
Bill Maher
July 20th, 2011
12:57 pm
Democrats hate conservative women. Obama’s no plan is working to destroy the US economy and he will become the Grand Czar!!
williebkind
July 20th, 2011
12:57 pm
I like a challenge let the government default. I want the progressive liberals explain to those on the plantation when they will get their next unearned benefit checks.
USinUK you can keep your insides they are most likely already in default.
Rightwing Troll
July 20th, 2011
1:01 pm
“Democrats hate conservative women.”
Mrs. Troll is a “conservative”… I prefer conservative women, no where near as repressed as liberal women.
WOODSTOCK MIKE
July 20th, 2011
1:04 pm
“Every junkie and welfare recipient you listed costs this country less collectively than oil and gas subsidies and tax loopholes for millionares and corporations”
If Democrats were so much more “thoughtful” why didn’t they change the subsidies and tax loopholes when they controlled the House, Senate, and Presidency? Ever ask yourself that? Democrats and Republicans both have ties to big business, if that is news to you I’m sorry, take a look at the CEO of GE having lunch with Obama on a monthly basis for starters… Take a look at Harry Reid’s ties to big pharma… Don’t be fooled into thinking that Democrats aren’t tied to big business.
seabeau
July 20th, 2011
1:39 pm
Their ALL a Bunch of Crooks!!!
Billybob
July 20th, 2011
1:58 pm
I love to watch the liberal media trying to actually shape public opinion instead of reporting on the actual public opinion……bookman and all the liberal hacks out there are living in a time where people are coming to understand the lies and false templates that have been working for over 40 years for them….the exposing of the radical left will continue for some time……this conservative wave has yet to move entirely through the republican party….when this has happened you better hold onto your shirt jay, b/c your ilk are next in line……I hope you enjoy the destruction of the radical left over the next few years…….i wonder how you will blame the republicans when it happens? Whenever I have a chance for as long as it takes I will expose you and your lies and your false templates and your class warfare and your support for a socialist in the white house and the way you project things onto republicans that your ilk are ACTUALLY doing and for who and what you are and support. Your ideas and resoning for your ideas are definitely in my sights from this day forward……
DawgDad
July 20th, 2011
2:26 pm
I am opposed to this plan, and based on my stance it is likely to cost Sen. Chambliss his job. Where are the specifics? Just what “adjustment” will there be to the mortgage interest deduction? I’m searching all over the Internet and cannot find this, and that is patently insulting. If Saxby himself has not sold out his base I’m pretty sure he’s been played for a fool. His next email newsletter should be very interesting reading.
This plan is typical Washington smoke and mirrors cover for the Establishment’s on-going raid on the US Treasury and US Taxpayers. No. No more. This must stop. No debt limit increase whatsoever should be authorized; force Congress and the Administration to cut spending (whole Departments would be nice, for a start). The Social Security and Medicare payment threats are tiresome political antics.
Good luck with that Regional Transportation sales tax, too.
jeff
July 20th, 2011
2:30 pm
Jay, go on the record. Do you support the idea of a balanced budget amendment?
Nothing should be passed without one.
Billybob
July 20th, 2011
2:40 pm
Jeff,
He will not, just like he doesn’t want to plug the hole to fix illegal immigration…..if he agrees, then the radical libs will not be able to use all the class warfare, false templates and outright lies that the radical left and overwhelming liberal media, in cooperation, puts out there. I love exposing libs…..and people are learning these things one day at a time……
Ozz
July 20th, 2011
3:09 pm
House Republicans view the concept of compromise this way; my wife says “lets get 3 cats”. I say “lets get 3 dogs”. She says “OK, we’ll compromise and get 2 cats”.
john
July 20th, 2011
3:47 pm
The tragedy is that vast number of Americans don’t even know what the so called ‘GANG OF 6′ is proposing????? If they read some of the proposals I am sure they would give these 6 a hoot. Example they want to INCREASE the retirement age for Social Security, get RID of mortgage deduction, CUT Medicare and so on…. So after working for 40 years I cannot collect SS until 72 or maybe 75.
Again what is all the fuss about DEFICIT – all we have to do what Ben Bernanke has been good at PRINTING $$$ and pay for it!
Right Wing Nut Cases
July 20th, 2011
4:21 pm
The far right won’t be satisfied until they burn down the whole government. The end is near. God help us.
George Watson
July 20th, 2011
4:59 pm
All the news that’s depressing to print.
I don’t really see any humor in this, but to be honest, I can’t break into a cold sweat either. It’s a game. It’s possible some of the people playing are too naive to know it has real consequences, but at this point I choose to believe that they do – that America is too big to fail, and will back down when push comes to shove. And part of the reason will be that they don’t really think they will go unpunished if it really backfires. The old guard GOP are still the power brokers. Money wants to win, but not at any cost. And the cause of the wealthy will not advance with the financial consequences and the major public backlash that would inevitibly result when the default hits the proverbial fan. The endgame has already been telegraphed. Obama will get the power to raise the debt ceiling, and an attempt will be made to villanize him when he does… sticks and stones… political life will go on, with the strident tea party being dragged down the road by an increasingly aware and disenchanted middle class saying ‘How did we let these bozos get us into this mess? It’s our turn, and we couldn’t possibly screw it up any worse’. The We in this case will be the Democrats – the voice of reason, and the only other game in town.
Ethically-Progressive
July 20th, 2011
5:44 pm
Paying the debt is explicitly called for in the US Constitution (14th amendment), so how this is up for debate is curious. Even if it wasn’t commanded in the Constitution, this ceiling would be worth raising for the sake of, you know, not causing an economic depression… because depressions are bad, contrary to what disaster-capitalism calls for.
DawgDad
July 20th, 2011
6:03 pm
Ethically-Progressive: None of this has anything to do with a possible default. There will be a resolution of some sort, and there will not be a default as a result of this debate. All the rhetoric is spin and political gamesmanship. Pay attention.
waterstim
July 20th, 2011
7:47 pm
Loved what Ron Paul said yesterday on the floor. Is the debt the problem? yes it is. Then why are we trying to raise the debt ceiling. Everyone of you worthless libs are about to drag everyone into a depression. Maybe we can run your wimpy butts out of the country. Hey, you all can go live with the radical Muslims. YEA! Bed-wetting spineless liberals.
SwedeAtlanta
July 20th, 2011
7:59 pm
No one disagrees the long-term deficit must be reduced and, ideally, brought into not only balance but a surplus.
But………how to get there… It is unrealistic to think that you can accomplish this through spending cuts alone, especially with a very fragile economy. If I was personally in debt for say $50K with an income of $20K and basic expenditures of $18K, I would not be able to get out of debt simply by cutting my expenditures by $2K. I would need to find additional income such as a part-time job, etc. Revenue must be part of the solution.
Regardless of what the teabaggers think, the fact is, when there is insufficient demand such as now, sometimes the only entity that can create demand is government. That demand comes in the form of salaries, benefits, etc. of public sector employees as well as expenditures in the form of supplies, tanks, buildings, etc. Right now is not be the time to significantly reduce the demand created by government expenditure. I suggest we should tie the needed cuts to economic performance.
Secondly, the idea of a balanced budget amendment does serious violence to the viabililty of the country. There will be times when a deficit is necessary. If the country is tied to a balanced budget we cannot respond adequately to serious crises such as a world war, epidemic, etc. When you are in a crisis mode there is insufficient time to cut spending or raise revenues to account for crisis-driven expenditures. Just as with a family, there are times when debt may be necessary. Limiting the freedom of government to do what is needed is ridiculous and is only a political stunt. It will NEVER get the required 2/3 vote in both houses of Congress and the 3/4 of state legislatures. Too many of those legislatures recognize that, hampered by state balanced budget requirements, their salvation in the past several years has been federal deficit spending.
Reducing taxes does not create jobs. That is a fact. The well-off are not going to create jobs because they have lower taxes. If that was the case then we should be well off today since we have the lowest effective tax rates in nearly 50 years. Rich people only care about rich people. The Bush tax cuts have been in place for 10 years now and I have yet to see the ground-swell of employment. The high employment during the Bush years was created not by the tax cuts but by the spend, spend, spend mentality of the American consumer egged on by a President that encouraged people to take their vacations. There was no need for shared sacrifice for the wars – only the enlisted and their families were to sacrifice. But of course to the tune of billions of dollars we all sacrificed. People used their homes as cash cows until we finally realized it was a paper tiger.
Billybob
July 20th, 2011
9:45 pm
a balanced budget amendment is what obama will have to veto at some point in the very near future and he will have to make a choice…….and that choice will decide his future fate……in either case, obama will never get a chance to be a ‘mediocre two-term president’…….libs’ channeling reagan and libs screaming tax hikes and libs’ knowing a large majority of the country supports it……priceless
Billybob
July 20th, 2011
9:47 pm
supports IT…..meaning a balanced budget amendment
Billybob
July 20th, 2011
10:20 pm
jay,
here are two words that you will come to openly despise in the not-so-distant future………jim demint
JP
July 21st, 2011
1:02 pm
Pass Cut, Cap, and Balance.