House GOP offers a familiar ‘Plan B’ for dodging the fiscal cliff
Reports from Washington vary on how close President Obama and Speaker John Boehner are to striking a deal to avoid the so-called fiscal cliff. But the emergence of Boehner’s apparent back-up plan in case they don’t reach an agreement caught my eye.
This morning, Boehner said his “Plan B” is for the House to extend all the rates for taxpayers earning $1 million or less per year while raising them on those who make more than that, and leaving the broader discussion for next year. Hmmm … who has suggested just such an approach?
[T]o, to Obama, this clearly is more about good politics than good policy. The House GOP should respond in kind.
It should pass the “Buffett Rule” bill that failed to pass the Senate in April, amended to include an extension of all current tax rates through 2013, as a down payment. While the Buffett Rule is projected to raise $47 billion during the next decade if the current tax rates for high earners are not extended, I’ve seen projections of more than $160 billion in 10 years if rates don’t rise. That’s an increase of approximately $16 billion next year, and it comes from real millionaires — not Obama’s “millionaire” couples who earn $250,00 a year.
Boehner wasn’t specific about the rate he envisions for million-dollar earners. If he was referring to the Buffett Rule, I assume he would have mentioned it by name and taken the credit for backing an Obama policy in the spirit of compromise. So I’m not exactly taking credit for the new Plan B.
But I still think it makes sense, if Boehner believes he can’t get a good deal from the president, to take away the “GOP only protects the rich” argument by proving the House is willing to raise taxes on the real “millionaires and billionaires” Obama is so fond of talking about — but insisting on more substance from Obama in any bigger deal.
– By Kyle Wingfield
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250 comments Add your comment
The Fresh Prince of Bill Ayers
December 18th, 2012
11:11 pm
JamVet
December 18th, 2012
9:05 pm
HD, thanks for the info.
Main Street/local banks, Wall Street and K Street all played BIG, BIG roles in the corporate assault on capitalism.
Greed has it consequences.
Yes it does. Come try and take my bushmaster mono e mono meat.
MarkV
December 18th, 2012
11:24 pm
Rafe Hollister @ 9:00 pm
Rafe,
You can play one economist against another as much as you want. Neither of us, as far as I can tell, has the qualifications to decide, which analysis is better. Considering that you cite one economist who, as you write, claims that “the macroeconomic models employed by Zandi, Goldman Sachs and MANY other independent forecasters — including the Congressional Budget Office – overstate the economic impact of government spending and ignore the boost to confidence that would come from reining it in,” (my emphasis) I find little reason to believe him. Naturally, I understand that you do, because it fits your preconception.
ODD OWL
December 19th, 2012
12:52 am
Millionaires are rich… Billionaires are wealthy…The rich and the wealthy will pay a 40% Federal income tax rate, a 40% capital gain tax rate and a 40% inheritance tax rate… We Dems call it the 40-40-40 tax plan…. The Republicans ran up the debt by borrowing trillions of dollars and giving it to the rich and the wealthy as tax cuts… Now we Democrats are going to pay down the Republican debt by taxing those same rich people and wealthy people who made out like fat rats over the last 30 years… If tax increases are inevitable, the rich and the wealthy should bend over, assume the position, relax and enjoy it… All entitlement social programs are off the debt/deficit negotiating table…
@@
December 19th, 2012
6:19 am
My loyalty is to my family and the land.
One of my favorite sayings from Jim Wooten….”People move, dirt doesn’t.”
That’s not to say Hillbilly is like dirt, mind you…
(ISH)
more like the foundation on which he stands doesn’t shift. It’s solid.
Tiberius - pulling the tail of the left AND right when needed
December 19th, 2012
6:23 am
The stench from posters like ODD OWL makes you wonder if he ever worked a day in his life.
Probably not.
Lil' Barry Bailout - OBAMAPHONE!!!
December 19th, 2012
6:47 am
Real Americans are ashamed that our government has become so greedy that it takes more than 10% from any citizen.
Tiberius - pulling the tail of the left AND right when needed
December 19th, 2012
7:14 am
ODD OWL doesn’t even realize that it would take a vote in the U.S. House to make his 40-40-40 plan into law, and the Dems STILL don’t control the House.
And likely won’t for another decade.
CC
December 19th, 2012
7:15 am
“The stench from posters like ODD OWL makes you wonder if he ever worked a day in his life.”
The stench of ODD OWL makes me certain that he is at least a socialist and maybe a communist.
CC
December 19th, 2012
7:20 am
“For there to be a king there must be peasants. Peasants aren’t defined by their wealth but by their belief that others should rule them.”
“Generally speaking peasants believe as they do either because they have been taught since birth that the King is better than they are or because without the King they feel they would not survive in a dangerous world. While America was founded by the antithesis of peasants, liberals have been working to reestablish the peasant class because liberals view themselves as the modern nobility; wiser, kinder, more knowing than the folk in flyover country and obligated by their superiority to rule over others. We see this when Obama complains about having to deal with Congress, even a Congress run by his own party, or when Obama says he’s envious of how the Chinese leader rules China.”
Rightwing troll
December 19th, 2012
7:22 am
That’s rich… Tibs, who apparently doesn’t have a job since he lives here ALL day, speculating about someone else’s employment status… You a moocher Tibs? You get a gubbimint check from your service in gubbimint? ( that’s another irony in itself…)
Rightwing troll
December 19th, 2012
7:23 am
Actually thanks to you and your ilks, its looking pretty likely in the next cycle or two…
CC
December 19th, 2012
7:40 am
“ilks”?
New word?
ride or die
December 19th, 2012
7:45 am
rw troll
Let these lonely bloggers have their fun and predictions.
Many thought that there was going to be a President Romney, so it is certainly a hoot to read their posts.
Mr Self-Righteous
December 19th, 2012
7:51 am
Don’t know about this cliff or where it is located. Just want the party that doesn’t make me work to stay in the WH. Does anyone know if they plan to extend my benefits or make new ones for me so I don’t have to work or be accountable? Also, my wife votes for them because she’s a big thinker and considers all the important issues facing us before casting votes exclusively for democrats. Her only issue is being able to abort, so she votes for democrats for this reason. She has her priorities straight. The 20 Trilion debt is not a problem because BO can just print more and give us some. It’s somebody else’s fault anyway according to those people on MSNBC; they seem to know a lot.
David Puddy
December 19th, 2012
7:56 am
“Many thought that there was going to be a President Romney, so it is certainly a hoot to read their posts.”em
Wrong, most republicans knew it was a long shot given the perception that those licking the gravy bowls would never risk having anything free taken from them. And the female vote was lost due to their complex approach to voting decisions–Who let’s us abort if we decide to be irresponsible? It’s really not that hard to figure out.
ride or die
December 19th, 2012
7:59 am
Guess ole Dave doesn’t read the comments from the regulars here
So Dave, you are wrong.
Nice try, buddy
Jefferson
December 19th, 2012
8:02 am
You can tell the GOP supporters are scared to stand on their own two feet, they want daddy bucks to trickle on them.
David Puddy
December 19th, 2012
8:05 am
Ride or die,I suppose you’ve made that general conclusion by reading postings from a handful of pro-republican posters? What a simpleton. Keep on licking the gravy bowl.
David Puddy
December 19th, 2012
8:08 am
“You can tell the GOP supporters are scared to stand on their own two feet, they want daddy bucks to trickle on them.”
Really? Is that the perception you have of GOP supporters based on your listening to Maddow and Matthews. What a simpleton. Gosh, you’re easy.
ride or die
December 19th, 2012
8:12 am
Dave is having a Piddy party
hope he will be ok
His ODS is flaring up again.
ride or die
December 19th, 2012
8:13 am
David “silly” Puddy
Thanks for the chuckles, little fella
David Puddy
December 19th, 2012
8:29 am
ride or die, you used the word ‘chuckles’? and ‘fella’ in the same sentence? Weird.
Chinese Military Man
December 19th, 2012
8:38 am
United States ban on semi automatic weapons – check.
US ban on large capacity magazine clips – check.
US ban on hollow point ammunition – check.
US nuclear “treaty” with Russia – check, check, high five.
US naval fleet reduction in size – check, check, check, moonwalk.
US re election of barakkk obozo – check, check, check, check, check, leaps of joy, hugging and weeping tears of appreciation for such good fortune.
Aesop's Fables and other Lib Economic Theories
December 19th, 2012
8:51 am
David – I’m figuring that ride is a mere child or at least has the mental capacity of one.
Aesop's Fables and other Lib Economic Theories
December 19th, 2012
8:53 am
“Systematic failures and leadership and management deficiencies at senior levels within two bureaus of the State Department resulted in a Special Mission security posture that was inadequate for Benghazi and grossly inadequate to deal with the attack that took place,” the panel said.
Ah, it sounds like we need to hit the reset button.
Lying Old Cranky Troll
December 19th, 2012
8:57 am
Heh… the zingers are flying in here now…
ride or die
December 19th, 2012
9:22 am
Aesop the “reporter”
Angry, lonely and whiney he is…
Aesop's Fables and other Lib Economic Theories
December 19th, 2012
9:28 am
You’re welcome to dazzle us with your vast knowledge and intelligence at anytime, rider, but up to this point, we’ve seen like, eh, not much.
But you are a good diaper filler.
Black Label
December 19th, 2012
9:34 am
Aesop
That kid has you whining like a little puppy. He posts you whine and yelp
How funny is that. Aesop is the new Pavlov’s dog.
Jimbo
December 19th, 2012
9:43 am
rich or die, you seem to be the only one who knows something here. Please let me know which party I should vote for to keep getting benefits and not have to work. And my wife was wanting to know which one let’s you abort in case she doesn’t want to be responsible. Please let me know.
Aesop's Fables and other Lib Economic Theories
December 19th, 2012
9:48 am
It looks like you heard a bell ring, labeled. But that’s somehow different, right? You see yourself as special, very special, and able to respond to anyone, at anytime. But nobody else is allowed to do the great things that labeled does, because they are no where near as special as labeled is. Oh, excuse me, very special.
Black Label
December 19th, 2012
10:07 am
Pavolv’s new dog keeps on the tradition
he can’t help it…………. The bitterness and frustration is much too entrenched.
Just Saying..
December 19th, 2012
10:30 am
From the AJC: “Pres. Obama is Time’s “Person of the Year”
Why, the United States IS an exceptional country…
Aesop's Fables and other Lib Economic Theories
December 19th, 2012
10:39 am
How long has it been since Time magazine was relevant to anyone besides a thumb sucking liberal?
Aesop's Fables and other Lib Economic Theories
December 19th, 2012
10:45 am
Only because we have a bunch of klowns running our country are we privileged enough to see comedy such as this, pile out of the klown car, obozobots -
Report blames Libyan guards hired to protect compound…
Were on Strike in ‘Protest Over Salary, Working Hours’…
And what’s even more funny, all the union goons hanging around this blog are like what, our enemy has to eat too.
ride or die
December 19th, 2012
10:46 am
Black Label
Cut Aesop a break.
Mind you his name should be “Aesop: My life is crying and whining”, but he is lonely and likes to vent on the blog…
Hehehehe
Aesop's Fables and other Lib Economic Theories
December 19th, 2012
10:47 am
Now I’m starting to see the libs and their Protect American Schools Act, which will consist of taking guns away from law abiding citizens and having some mass murderers guard the schools.
We wouldn’t want to discriminate against mass murderers, now would we?
Just Saying..
December 19th, 2012
10:53 am
Aesop, I’m not sure you’re a proud American…
Aesop's Fables and other Lib Economic Theories
December 19th, 2012
10:54 am
The implications of course being that rider sees it’s comments as some Important Public Service, hahhahahaha.
Oh my, what klowns.
breckenridge
December 19th, 2012
10:57 am
They’re making progress on a fiscal deal but whatever they come up won’t be nearly enough. More entitlement reform has to occur. So Obama is a 400K for 39.x% tax rate, Boehner is a $1 million. Perhaps 500K would be appropriate. 250K is simply far too low.
Bloomberg did a poll a few months back. They found that 60% of the wealthy do not object to a higher tax rate. Which simply means they don’t mind paying their accountants to dig deeper for more loopholes.
ride or die
December 19th, 2012
10:57 am
Black Label
You called. He can’t help himself.
What else does he have in life?
Wa wa wa
Just Saying..
December 19th, 2012
11:01 am
Gotta love the GOP side of the table: “We require bigger budget cuts. Just not as big as the ones we’ve already passed”.
Aesop's Fables and other Lib Economic Theories
December 19th, 2012
11:03 am
What else does he have in life?
ride – Your first comments this morning appeared at 7:51 am. Mine came at 8:58. I could almost accuse you of “having less of a life” than I do but I won’t, because I don’t see myself as …………special.
Plus I’m not a psychotic.
Dusty
December 19th, 2012
11:09 am
Well, Just Saying, you are correct. The United States IS an exceptional country. Yes, and its citizens are special.
Did you see where several people (one from Atlanta) have sent contributions to the people of Newtown,Connecticut who are trying to overcome their losses. Free coffee and candy from far away for hundreds of those citizens just to make a gesture of caring for sad and disconsolate people… .
Yep, .Americans have warm hearts even though we fuss. .
Black Label
December 19th, 2012
11:10 am
ride or die
I would give it a break if you do not want to see Aesop break. He has had that tendency in the past and gets sent packing for a period of time or even longer.
Enjoy the laughs. His attitude and character never changes no matter his attempt disguise it.
Good day
Kyle Wingfield
December 19th, 2012
11:21 am
“They found that 60% of the wealthy do not object to a higher tax rate. Which simply means they don’t mind paying their accountants to dig deeper for more loopholes.”
Bingo, breckenridge.
Rafe Hollister preparing for an Obamanist America
December 19th, 2012
11:35 am
The fiscal cliff and inability to protect our diplomats must not be that troubling to our elected officials. Galloway has an column boasting about bipartisanship, because Lynn Westmoreland found a Dem he could work with to get a bill passed to help define what type refrigerator a deli can legally use.
Our government is so big and polarized that they can’t ever solve any major problem, but there is no insignificant/minor matter they can’t find time to deal.with. Only in America, do we parry over refrigeration rights.
HDB
December 19th, 2012
11:36 am
Lil’ Barry Bailout – OBAMAPHONE!!!
December 18th, 2012
1:58 pm
Actually, the first trillion dollar deficit was in FY2009…the LAST year of the Bush fiscal plan…….
Jimbo
December 19th, 2012
1:39 pm
“They found that 60% of the wealthy do not object to a higher tax rate. Which simply means they don’t mind paying their accountants to dig deeper for more loopholes.”
Representatives from both nitwit parties created them and allow them to exist today. Are taxpayers not supposed to minimize their tax burdens in accordance with the tax codes? Buffet, for all his blowhard calls for higher taxes, still uses every loophole/advantage he can get a death grip on.
Lambeau
December 19th, 2012
2:17 pm
Aesop @ 8:53
I agree a reset button would be quite nice. But don’t tell MarkV there was no protest (and that Obama blamed the “protest” on a video for weeks after the attack). He would just find a way to say that we “didnt understand” what he was saying. He can *never* be wrong. An “I told you so” statement would be very appropriate towards Mark.