Fiscal Deal: Tax Hikes, Green Pork, Stimulus, Oh My
Surprise surprise, they have a deal to avoid the politicians’ cliff. Who didn’t see that coming? Here’s an enigmatic riddle for you: what happens when Republicans publicly obsess about the degree of tax increases they are willing to accept without a commensurate demand for spending cuts? You get tax hikes and no spending cuts! In fact, we will spend even more as a result of | Read More »
Will Iowa Senator Tom Harkin Push Family Farmers Over the ‘Fiscal Cliff’?
The Washington Post reported this morning that Iowa Senator Tom Harkin is prepared to vote against any ‘fiscal cliff’ deal that would extend the current exemption level on the Federal estate tax. If a deal is not reached by midnight tonight, the current $5 million exmption will fall to 1$ million, with devastating consequences for many struggling family farmers. “If we’re going to have some kind of a | Read More »
“Eat the Rich?” But Save the Family Farm First
“Burn down your cities and leave our farms, and your cities will spring up again as if by magic; but destroy our farms and the grass will grow inthe streets of every city in the country.” - William Jennings Bryan Congressional Democrats have framed the battle over tax policy as a fight on behalf of the poor and the middle class against “the rich.” Lost amid the protesters’ claxon cry | Read More »
Great News: 16.4 Trillion debt ceiling to be hit Dec 31
According to the math whiz that runs the Treasury Department, we will hit the debt ceiling sooner than we expected. Don’t worry though through some accounting gimmicks he can make us reach Feb. Maybe. Some how the guy who couldn’t figure out turbo tax can figure out to the day we will run out of money. Something smells fishy here. So at the same time | Read More »
From the posts here at Red State, it is obvious that many people are angry with Speaker Boehner as he attempts to avert the combined effects of the expiration of the Bush era tax rates and the failure of previous negotiations which resulted in the creation of the sequestration of funds. Clearly he does bear responsibility for much of the road that got us to | Read More »
Forget 12/21: Today We are 1331 Days Without A Budget
In order to understand the magnitude of government spending, debt and fiscal cliff “solutions”, it is helpful to scale down the numbers to more manageable ones that we are more accustomed to. Most citizens cannot properly comprehend the magnitude of the government finances because the amounts with which we are dealing were — at one time — unimaginable. First, some basic facts: 1. Government annual | Read More »
Are We Living in the Twilight Zone?
At least Esau got a bowl of lentil soup for selling out his birthright. What will Republicans get? It’s amazing how events in politics seem to repeat themselves more often than Charlie Brown and the football. It seems like it was yesterday that we were advocating against Boehner’s trial balloon vote to raise the debt ceiling at the end of July. Back in 2011, it | Read More »
Boehner’s Tax Increase to Nowhere
So Boehner plans to introduce a bill on the House floor that increases the top marginal tax rate on those earning more than $1 million per year. Most likely, Boehner and Obama will ultimately agree on a deal that splits the difference between $400,000 and $500,000. Many Republicans will shrug their shoulders: “Who cares about a few rich liberals?” However, this rationale represents a shortsighted | Read More »
“Next Time We’ll Really Stick it to Obama”
A common tactic used by someone who fears confrontation is to contrive an excuse for not battling his adversary at the present, while promising to deal harshly with him in the future. That’s how the GOP has operated with Obama in all of the budget battles over the past two years. It’s always ‘the next fight.’ There is an emerging consensus from some conservatives inside | Read More »
Stop Falling on the Tax Cut Sword
To mix metaphors, Republicans are going to have to fall on some sword with this whole fiscal cliff jazz. All of us Conservatives would like to hold firm to not raising taxes. Reality it is, it ain’t gonna happen. Deal with it. Give the President what he wants on a tax hike. Just give it too him. Be done with it. Lest you think I am | Read More »
, fiscal cliff
, Government Spending
Stop Negotiating and Pass a Bill
The fundamental error in the drama unfolding before us about the fiscal cliff is that there is a mismatch in negotiations: The House Republicans are negotiating to bring about an end to the fiscal crisis, while the Democrats in the Senate and the White House are negotiating the terms of the surrender of capitalism and the full bore onset of redistributive socialism. In essence, there | Read More »
Bob Shrum ignorantly and incorrectly lectures Senator Ron Johnson.
Here’s a pro-tip* for Bob Shrum: if you’re going to try to marginalize and mock a US Senator (to the point of calling him “buddy”), make sure that you have the right info first.
The Boehner Fiscal Offer
Here are two things to keep in mind with regards to Boehner’s budget offer. First, when you begin negotiations agreeing to 60% of the demands of the other side and fail to offer a bold contrast on the other 40%, you are headed for an outcome that is 80-90% favorable to your opponent. Second, when you need to outsource your budget plan and entire view | Read More »
Only in Washington
For those of us who are not schooled in the ways of Washington, here is a glimpse into the duplicity of the “budget savings” as part of the fiscal cliff negotiations. House Agriculture Chairman Frank D. Lucas has raised hopes that Congress might still be able to produce a multi-year farm bill soon, possibly as part of a package to block impending tax increases and | Read More »
Saxby Chambliss’s Fuzzy Math
Last Wednesday, speaking in reference to Grover Norquist’s tax pledge, Senator Saxby Chambliss revealed himself to be a big government statist. Then again, we always knew that. He told a local TV station that if we hold the line on the anti-tax pledge, “then we’ll continue in debt, and I just have a disagreement with him about that.” This line of thought is emblematic of | Read More »