Johnny Isakson: ‘Why put the markets in turmoil?’

U.S. Sen. Johnny Isakson on Sunday declared himself willing to accept President Barack Obama’s offer of legislation to preserve middle class tax cuts as a last resort – and questioned why Congress was willing to toy with the nation’s 401(k)s.

From his appearance on ABC’s “This Week With George Stephanopoulos”:

Isakson:: “I felt like the House should have gone ahead and passed Speaker Boehner’s bill, because it addressed the subject and we’d still be in negotiation. And the president’s statement is right. No one wants taxes to go up on the middle class. I don’t want them to go up on anybody. But I’m not in the majority in the United State Senate and he’s the president of the United States. If we get down to the end of this year and the only choice we have is to save taxes going up on the middle class, then I would support that.

“But I wish we would have a comprehensive bill that dealt with spending, dealt with entitlements, and dealt with taxes altogether. That’s really what we ought to do.”

Stephanopoulos asked what he thought of the chances of a deal between now and the end of the year. Said Isakson:

”I sold houses for 33 years, George. I’m an eternal optimist, but time is running out. And the truth of the matter is, if we do fall off the cliff, after the president is inaugurated, he’ll come back, propose just what he proposed yesterday when leaving Washington, and we’ll end up adopting it. But why should we put the markets in such turmoil, and the people in such misunderstanding or lack of confidence? Why don’t we go ahead and act now?”

- By Jim Galloway, Political Insider

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116 comments Add your comment

Bob Loblaw

December 23rd, 2012
9:44 pm

I’m sure the GOP base is just thrilled that those making $1M a year aren’t getting higher taxes on all money earned over the $1M mark.

Wait…that’s what the Speaker wanted? I thought it was just a tax on single families with family-owned businesses? Those rich people are job creators!!!

Thanks, Fox News.

Most of these TEA Party “republican” voters don’t realize there’s nobody in this tax bracket who would let them past the gates into their neighborhoods.

Voter

December 23rd, 2012
9:45 pm

Question – Didn’t Congress vote in and hussein obama sign the Budget Control Act of 2011? Why are the Democrats and hussein obama now complaining about the effects of the very bill they brought about? And why do they now blame congress and the GOP? Ironic

td

December 23rd, 2012
9:48 pm

Go ahead Johnny and vote to raise taxes and feel the pain from the people of this state that voted for you on the promise that you would not raise taxes.

td

December 23rd, 2012
9:51 pm

Bob Loblaw

December 23rd, 2012
9:44 pm

No my friend. It is the principle. We Republicans have a pledge from the people that we elect that they will not raise taxes. If we wanted taxes raised then we would vote for Democrats.

Rabbit

December 23rd, 2012
10:27 pm

The President has been the voice of reason. Sen. Johnny should have been more senatorial before the crunch time. maybe he could have led the successful passage of this bill. Now the republicans have backed up and stepped in it.

Rabbit

December 23rd, 2012
10:30 pm

Oh, and Mr. TD. The cliff dwellers won’t have raise taxes if we go over. They’ll just cut the middle class taxes that go up when the new year comes.

td

December 23rd, 2012
10:35 pm

Rabbit

December 23rd, 2012
10:30 pm

Yes that bill will have to come from the Republican controlled house. May or may happen but the Republican voters will insist and all tax cuts are back to the level as today or none will go back down and we blame Obama for not cutting taxes.

Cherokee

December 23rd, 2012
10:38 pm

and for about the hundredth time, td, as you know, it was the Republicans who set the tax cuts to expire.

Thanks Senator Isakson, but maybe you should have the courage to vote for the good of the country once in awhile, rather than cowering before the tea party loons.

GOP Millionaire Hind Kissers

December 23rd, 2012
10:38 pm

Yep, the right wing nuts have sworn to only tax working people, and to let the rich get richer while undermining America’s government and our principles of equality and fairness. Good Senator Isaacson gets it.

What’s new here? New is the fact that most Americans are tired of these GOP demagogues and their ignorant followers. Keep up the silly comments, conservatives. We voters can do math, and your kissing up to the rich says more about you than any plan for government budgets.

Can you even admit what the tax structure was when Reagan ruled the deficit busting budgets? And yes, Ronnie pinned an op-ed in the New York Times, no less, calling for an assault weapons ban.

I hope you Republican frauds don’t go after guns again like you have in the past: Reagan banned handgun carry as Governor, the Milford Act; Bush Sr. voted for the 1968 Gun Control Act as Texas Congressman, Mitt banned assault weapons while Governor or Massachusetts, and Newt and Bob Dole, as leaders of the House and Senate, passed the Assault Weapons Ban that Clinton signed—the point being that you right wingers are frauds and are easily played by your “leaders’. Suckers.

Cherokee

December 23rd, 2012
10:40 pm

“Republican voters will insist and all tax cuts are back to the level as today or none will go back down ”

So it’s better to not have any tax cuts at all than to approve them for 98% of Americans?

Weird…

OakhurstDawg

December 23rd, 2012
10:45 pm

@TD…not sure who you mean by “we the people”, but overwhelming majorities of Americans in poll after poll support raising taxes to help address the issue at hand. The state of denial that the GOP is in here is pretty stunning.

It’s all Isakson can do to actually keep from saying “The GOP is in a state of denial on raising taxes…the House in particular should remove its head from its rear.”

Jeez.

td

December 23rd, 2012
10:48 pm

GOP Millionaire Hind Kissers

December 23rd, 2012
10:38 pm

How much should be anyone’s “Fair Share”. The top 5% of income earners make 33% of all the money each year and pays 59% of all Federal income taxes. The top 5% is households making over $131,000 per year. Why do you call this amount “unfair”?

td

December 23rd, 2012
10:57 pm

OakhurstDawg

December 23rd, 2012
10:45 pm

What do the polls say about how to handle deficit reductions? I think when you add it together then the overwhelming majority of people want spending cuts at the 2 or 3 to 1 with tax increases.

I think most Republicans feel spending cuts first and then after they have taken effects tax increases would be OK to ONLY reduce the debt.

Marlboro Man

December 24th, 2012
6:39 am

As Meatloarf said, 2 out 3 ain’t bad. Suck it up, big spenders do your part and take one for the team.

DeborahinAthens

December 24th, 2012
7:05 am

The Repugs are willing to let the stock market go down 500-700 points as they were during the faux crisis of the Debt Ceiling mess, thereby wiping out trillions of dollars in assets. These are assets held in our 401(k)s, assets held by retirees who live off of theses assets. They are willing to do this to save a few thousand dollars a year in tax increases. They are doing this because of ideology. Now we need to think about this. What on Earth goes through their pathetic brains? td obviously has no invested assets, because he is willing to watch this chaos ensue. And, I suspect this is true of most Repugs in GA? Most are red-neck blue collar workers that continue to vote for Republicans who DO NOT have their best interests at heart. The Republicans invented the Fiscal Cliff to force themselves to fix our fiscal problems before December 31st. They have had over a year to get it done, and here we are today. We can thank Dubya the Dumb for this as well. if he had had the balls and brains to pass a permanent, intelligent tax plan, if he had raised taxes to pay for two insane wars, we would not be in this place today. It is a dark, sad day for this country, and the Republican “patriots” can pat themselves on the back for it. I give us six months before we are back in a recession should they nor fix this problem in the next five days. These bozos can’t even to t the toilet in five days.

dcb

December 24th, 2012
7:47 am

Perspetive, perspective, perspective. While I don’t understand the reluctance of the Dems and the President to address immediately the cutting spending issue instead of appealing to public sentiment by honing on on the “rising” of taxes on the “rich” using only their definition of the word, I am totally confused as to why no one plays up the fact that this is not a tax increase, its returning to the legally defined tax rates as in the law. Sure the amount any one citizen pays will go up, but like not receiving a bonus in your pay for the following year, it is not a penalty. You were lucky to have it in the first place. At a low-end figure of the savings you’ve had by the Bush tax-cut savings since ‘03 of $3,000 a year (as I’ve heard quoted frequently), you’re $30,000 to the good. That’s not only the glass of water half-filled, it is fact. Cherish it. Don’t buy the political hype. Suck it up. Get over the issue of taxes being collected once again before the Bush our news media now declares “everyone loved to hate” – led tax cut savings of ‘03.

jezel

December 24th, 2012
7:50 am

For this country to move on…the GOP must rid itself of the Tea Party element and re-establish the principles that the GOP has traditionally stood for.

America needs two viable parties to do business. Today there is only one. The other party is being held hostage by….

hiram

December 24th, 2012
7:54 am

DeborahinAthens
December 24th, 2012
7:05 am

” Most are red-neck blue collar workers that continue to vote for Republicans who DO NOT have their best interests at heart.”

Their lack of education is not lost on Republican strategists, who exploit it to the max. Scientific method is greek to them, so a radom sampling of 1 is just as valid as a sampling of 1,000,000 to justify something – and they don’t seem to have the ability to weigh issues – their right to own an assault rifle trumps having air to breath. As a result, the Republicans can assemble a platform, where 90% of it negatively impacts 99% of Republican voters, and they don’t know the difference. For example, you will go bankrupt if you get sick, and we will raise your taxes, but cut Mitt’s, and we will award defense contractors another 10 trillion dollars worth of contracts for needless airplanes, but you get to keep your assault rifle for personal protection. After analyzing the platform, their response is: YIPPEE, I GET TO KEEP MY ASSAULT RIFLE!!!

Jack ®

December 24th, 2012
8:07 am

I suppose it’s always been this way: people that have less want more and they want more even if someone else has to pay for it. What I have gained through my efforts didn’t come at someone else’s expense. And those that have more than me didn’t take it from me. Maybe I’m a “sucker” and maybe I’m in “denial”, but I won’t vote for a party that is trying to enforce “fairness” through programs that require me to pay for the lack of ambition and planning of others.

hiram

December 24th, 2012
8:10 am

@ Jack
You just made my point. I have heard that fox new’s nonsense talking point, verbatim, 10,000 times – 9000 from td.

Jack ®

December 24th, 2012
8:19 am

Maybe you spend too much time listening to Fox News, hiram.

Georgia , The "New Mississippi"

December 24th, 2012
8:28 am

It boggles the mind why GOP politicians sign pledges with people that do not live in their state and are not eligible to vote in the district they are suppose to represent. KKK politics.

Cherokee

December 24th, 2012
8:29 am

Jack are you really so naive that you think that there is no possibility that you or someone you love will catch a dreadful disease, or be severely injured in an accident, or lose your job, or have something else awful happen to you?

Sure there are some people whose ‘lack of ambition’ causes them to fail in life. But there are also lots of hard working people just like you who have terrible luck in life, and need some help.

And someday it might be you.

hiram

December 24th, 2012
8:31 am

@ Ga, the new Ms.
They do it because they don’t represent the people who elect them, and as I said before, they don’t know the difference. The world is abstract to most Republican voters – most of them still think it’s flat.

Rafe Hollister

December 24th, 2012
9:05 am

Does Johnny carry that white flag with him at all times, if so, maybe he is French.

I understand wealth envy, fairness, and blind faith in Barry, but how do people think that if we raise taxes on the top two percent, 80B dollars, that we are on the way to solving our economic problems. Much, much more needs to be done to get us on a track to financial solvency. Unfortunately Obama’s ideology first attitude is hampering any meaningful solutions. After three budgets that failed to even get any Democrat support, he needs to, for once in his life, put together a reasonable budget that increases revenue and makes significant REAL spending cuts. We have had it with the smoke and mirrors, cuts in future spending, charade.

Johnny is too old to grow a spine, so he needs to step down.

ChuckieCheese

December 24th, 2012
9:09 am

Voter

You are the voice of the past – of all things that need to fall by the political mudslinging wayside. Time to put the big boy pants on, get past the moronic pitiful attempts at insults, face reality and get over it.

Rafe Hollister

December 24th, 2012
9:13 am

You were lucky to have it in the first place.

dcb, so your lifestyle is based on luck, you are lucky to have a job and lucky to get paid. Not me, I earned everything I have and it belongs to me, not the government. I am willing to pay reasonable taxes, but there is a limit. It is time for the citizens to tell the government this is all you are going to get, learn to live on that amount, just like your boss tells you, when you ask for a raise.

Eddie Smith

December 24th, 2012
9:35 am

My Republican friends, who are very upset about tax cuts. Please remember what income bracket the President is proposing the tax hike. Most right winger are jumping up and down about the taxes, but the sad part is that 98% of the people crying about the tax rate hike. You don’t qualify for them. Please remember that the average solider salary is 30k a year for defending our country, they volunteer for this job, and it is a said day, when tose who can pay a little more and don’t serve are crying about a little more money. Those 47%er

honested

December 24th, 2012
9:56 am

We have over ten years of clear evidence that the tax cuts were a complete failure at spurring economic expansion.

End the failed experiment and return to a revenue policy that PRODUCES ECONOMIC EXPANSION.

Let the ’sequester’ produce the cuts in the most expensive military industrial complex in the universe. Otherwise, the cowards in the House will never stand up to their military funders.

Bill

December 24th, 2012
10:18 am

If uninformed voters had not blindly voted back into ofice the sociaist we have had for 4 years we wouldn’t be having this discussion. we would be moving forward instead of backward. Thanks to dumb demorats we live worse but it cost more.

td

December 24th, 2012
10:23 am

All these posts from the takers and not even one to address the facts I laid out at 10:38 last night. Do not let the FACTS get in the way of your wealth envy.

tireofit

December 24th, 2012
10:32 am

Cut the DOD funding 50%, it is time for the defense contractors to take a hit from their government welfare.

hiram

December 24th, 2012
10:34 am

The problem is the U.S. House of Reps(think Paul Broun), is elected by the most backward segment of the U.S. population, which enables a handful of super rich psychopaths to subvert the democratic process. Even is a Rep has enough sense to get in out of the rain, they either appease the psychopaths, or they will be replaced by an idiot in the next election. Either way, the country will remain in dead lock – the easily manipulated fools, who elect people like Pau Broun, aren’t getting any smarter.

td

December 24th, 2012
10:36 am

tireofit

December 24th, 2012
10:32 am

Cut the DOD funding 50%, it is time for the defense contractors to take a hit from their government welfare.

Yes, let us do away with the one actual thing the Federal government is suppose to do so that we can keep up the benefits to the moochers so that they do not have to work.

td

December 24th, 2012
10:38 am

hiram

December 24th, 2012
10:34 am

BS and you know it. It is the lowest educated and the one that make the least amount of money that voted for Obama. You know it and so does the entire nation.

tireofit

December 24th, 2012
10:45 am

The defense contractor are moochers and I don’t want my tax dollars going to them. Enough is enough.

td

December 24th, 2012
10:47 am

tireofit

December 24th, 2012
10:45 am

The defense contractor are moochers and I don’t want my tax dollars going to them. Enough is enough.

If the Federal Governments job is not to “provide of the common defense” then what is the job of the Federal government?

james

December 24th, 2012
10:48 am

I say lets go over the cliff so
the govenment has to cut spending. Taxes are going
up either way so lets at least get some benefit of less
government by going over the so called media based
cliff.. we will all survive… Merry Christmas….

Cliff Diver

December 24th, 2012
10:56 am

Voter

December 24th, 2012
10:58 am

The tyrant will always find a pretext for his tyranny, and it is useless for the innocent to try by reasoning to get justice, when the oppressor intends to be unjust.

Voter

December 24th, 2012
10:58 am

When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it.”
– Dr. Adrian Rogers

Flying HIgh

December 24th, 2012
11:03 am

td: It is Christmas time. At least give it a good effort to be a LION Christian and not the Lying Christian you know yourself to be.

Aesop: If they allow you to get on the computer at the asylum today, don’t get too angry and get the blog shut down. Maybe they will let you loons watch “One Flew Over the CuckCoo’s Nest” if you are good.

hiram

December 24th, 2012
11:03 am

td
December 24th, 2012
10:38 am

hiram

December 24th, 2012
10:34 am

BS and you know it. It is the lowest educated and the one that make the least amount of money that voted for Obama. You know it and so does the entire nation.hiram

@cc/td

“Top Ten Best(and Worst) Educated States and How They Voted”

http://gizmodo.com/5959101/the-effect-of-education-in-the-presidential-election

tireofit

December 24th, 2012
11:07 am

liberalefty

December 24th, 2012
11:10 am

OBAMA got the sad angry REPUBS over a barrel and they know it.Once again the commnunity organizer beats the repubs like a drum…

liberalefty

December 24th, 2012
11:12 am

VOTER 10:58

nice FOX talking points…now go get a job

tireofit

December 24th, 2012
11:13 am

If your top concerns are guns and taxes on the wealthy you really need to do a gut check.

td

December 24th, 2012
11:20 am

hiram

December 24th, 2012
11:03 am

td
December 24th, 2012
10:38 am

hiram

December 24th, 2012
10:34 am

BS and you know it. It is the lowest educated and the one that make the least amount of money that voted for Obama. You know it and so does the entire nation.hiram

@cc/td

“Top Ten Best(and Worst) Educated States and How They Voted”

http://gizmodo.com/5959101/the-effect-of-education-in-the-presidential-election

Now let us take this math problem a little further and compare the standardized scores in the heavy Republican districts like East Cobb, North Fulton, Gwinn and Forsyth counties and compare them to Atlanta, South Dekalb, Clayton and Doughty counties. Could it be the children of Democratic voters drag the entire state down in Education scores and rank.

td

December 24th, 2012
11:25 am

tireofit

December 24th, 2012
11:13 am

If your top concerns are guns and taxes on the wealthy you really need to do a gut check.

So my top concerns should be on the people that chose not to get and education, chose to get pregnant when they are not married and do not have the necessary skill set to support a child, chose to abuse drugs and alcohol? Yes let us all concern ourselves with the moochers.

liberalefty

December 24th, 2012
11:25 am

I’m from KY. a state wher OBAMA lost big because poor whites who depend on government checks voted for ROMNEY. Eventhough these folks are poor they voted for a party who wants to make it harder for women to get afforable healthcare by closing planned parenthood, and the gop wants to stop OBAMACARE, which these poor people need because they already can’t afford to get sick. These people are easily duped because they are definitely voting against their interests. And to top it off they vote for a party who label them as “takers” and moochers..