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While saying it's bad policy, the senior GOP leader in the House says he would compromise by renewing lower tax rates for families making less than $250,000 a year.
I hope you don't really believe him. He's a liar. He's pandering to the middle class for the sake of boosting his party's chances in November, so they don't look like they're willing to allow the tax breaks to expire for everyone for the sake of holding out so the super-rich can keep theirs. He'll have his party drag things out until the last possible minute, demand amendments that water the bill down to be almost utterly useless, then vote NO anyway. You'd be a fool to fall for this line. There is no way in hell he would ever actually support one of President Obama's policies. Ever. Lest the Tea Partiers use it against him and/or his party in campaign ads. He'll never ever ever give them that kind of ammunition.
We have a structural deficit problem. Spending has remained about 25% of the economy since 1945 and today it is about 26% of the economy so it is 1/25th higher then usual (and needs to get cut back a bit) but since 1945 taxes have averaged about 24.5% but today it is all the way down to 17% of GDP. The reason we have a near permanent structural deficit isn't because spending has dramatically increased but is because taxes have dramatically reduced as a percentage of GDP. That's just a fact.
There simply isn't enough in the discretionary budget to balance the budget via spending cuts especially if you put military spending cuts off limits as the military makes up 50% of the total discretionary budget. Thus factually speaking taxes will have to go up if we are to balance the budget and anyone who claims we can balance the budget without raising taxes is not a serious person. The good news is since taxes are at the lowest point in the last century we have a good amount of room to increase taxes but still keep them well below the century long average.
I hope you don't really believe him. He's a liar. He's pandering to the middle class for the sake of boosting his party's chances in November, so they don't look like they're willing to allow the tax breaks to expire for everyone for the sake of holding out so the super-rich can keep theirs. He'll have his party drag things out until the last possible minute, demand amendments that water the bill down to be almost utterly useless, then vote NO anyway. You'd be a fool to fall for this line. There is no way in hell he would ever actually support one of President Obama's policies. Ever. Lest the Tea Partiers use it against him and/or his party in campaign ads. He'll never ever ever give them that kind of ammunition.
In bold equally applies to Obama and his policies.
How can the minority party "drag out" legislation? The Democrats have blanketly refused their amendments since January 2009. Nope, can't blame the failure for Obama to get legislation passed on the Republicans alone. Nice try though. Obama would be proud you are rubber stamping his talking points.
If we are going to keep the same tax structure that we are now, then the best option IMO, is to raise the tax rate on the wealthiest Americans, keep the tax rate at the same level for middle class Americans.
I also believe that the technical innovation tax cut should be passed (really stupid to go against that Republicans), as well as tax cuts for business expansion.
That way it would get the top earners to invest their money in their businesses and other opportunities, instead of sitting on it. That would create jobs, inspire innovation, and create jobs and new opportunities in the manufacturing sector.
How can the minority party "drag out" legislation?
Have you really never heard of the Senate filibuster? It's the lame procedural trick both parties use (but which Republicans have been using on virtually EVERY piece of legislation since they became the minority) to block and obstruct things when they are in the minority.
How can the minority party "drag out" legislation? The Democrats have blanketly refused their amendments since January 2009. Nope, can't blame the failure for Obama to get legislation passed on the Republicans alone. Nice try though. Obama would be proud you are rubber stamping his talking points.
Have you really never heard of the Senate filibuster? It's the lame procedural trick both parties use (but which Republicans have been using on virtually EVERY piece of legislation since they became the minority) to block and obstruct things when they are in the minority.
The thing is, at once point in time the filibuster was hardly ever used. Now its a threat all the time.
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