Will Democrats do anything meaningful to spending?

What type of increase are we looking at; 3% on everything over 250k? I'm with Deez in thinking that this is stupid because we can't solve our problem through tax increases. But, all of the hard line conservatives that have wailed and gnashed teeth over the deficit look a little silly when they would vote against a major deficit reduction because of a minor tax increase for a small percentage of the population.
 
larryT
i agree with you completely that if the Dems are offering ways effect a major deficit cut it would be silly to quibble over a tax increase that is suh small potatoes in the while picture

What have the Dems offered that is a deficit reduction?
 
something to note when talking about tax rates, if a compromise isn't made the federal income tax rates won't increase that much, we are talking the top bracket goes from 36% to 39.6% and all of the other brackets will go up a similar amount between 3 and 4%.

The thing that will make going over the "Cliff" painful to the economy is that the Capital Gains tax virtually goes away with all gains taxed as ordinary income. So for a rich guy it will go from 15% to 39.6% for a middle class guy it might just go from 15% to 20%.
 
If as BO media and idiots want, we do raise the tax rate for the ' rich" it will generate 80 billion a year.

I guess as Buffet explained it we can cheer people up by sticking it to the wealthy.


Some time really soon Dems are going to have to offer what cuts they will be willing to enact and when they will enact them.

I predict they will try to put cuts off until next year or the 12th
 
Let's see, for the last year the numbers were calculated, 20111, the government took in $2.3 trillion and spent $3.6 trillion. Put that on a personal level. You're family took in 230K and spends 360K. Not sustainable long term. Both husband and wife need to get butt in gear cutting spending or figure a way to dramatically boost incomes. We're all in this together. So we ask high earning dad to take on another client and work 47 hours a week instead of 45 and and mom is asked to keep her Mercedes another year before trading it in for the latest model. All sorts of hell is breaking loose and they are talking about covering only about 10 percent of the shortfall. As a marriage counselor I'd tell them to try another analyst. As an American voters -- we send some self-serving politicians sputtering economic gibberish back into the fray with instructions to "fight harder." Unless somebody gets courageous and kills the Republican myth that taxing people who got nothing will solve the problem and the Democratic myth that people over $250K can solve it with a higher tax rate, we got a political morass that won't get fixed. But like a guy who weighs 270 when he ought to weigh 200, we don't not act now just because we can't solve the whole problem. Get on the bike, give up the pasta and if you weigh 250 at the end of the year it's a good start.
 
I agree that Republicans need to compromise on taxes. I do think it should be across the board so everyone has skin in the game. Elections have consequences and this is a direct one.

However, the tax increases absolutely have to be tied to massive spending cuts. It should be on the order of 5-1 spending cut per tax increase and must have provisions to guarantee they happen.
 
I think the comment made by Deez was in regards to the republican party's move towards anti-intellectualism as opposed to the stupid voters that we have always had.
 
All the Dems want to do is spend spend spend. Unless we have a balanced budget ammendment we won't fix anything. We need MASSIVE spending cuts AND reforms to SS and Medicare AND even maybe some tax/revenue increases to fix our mess.

The MSM won't touch the fact that we have to cut SS Medicare, and the budget in big ways so it wont matter. The average american doesn't know how F'd they already are.

This country is going to have to eat a HUGE poo sandwhich and it's going to happen a lot sooner than people think.
 
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