Over the past few months, there has been a daily trickle of establishment Republicans coming out before the media in hostage style confession statements to declare that they would accept tax increases as part of a “grand bargain” to cut the deficit. The latest member was Lindsey Graham, who stated his newfound opposition to the taxpayer pledge of Americans for Tax Reform, which he considered | Read More »
Senator Tom Coburn released a report, Subsidies of the Rich and Famous, detailing a list of subsidies, transfers, and “tax breaks,” that are paid to individuals with Adjusted Gross Income (AGI) of over $1 million. The report found that millionaires have received at least $9.5 billion in “government payments” since 2003 and $113.7 billion in “tax breaks” since 2006. Accordingly, Coburn concludes that many of | Read More »
I read from an email from the Republican Communications Director for the Senate Budget Committee. A listener to my show this morning called Saxby’s Washington Office and they said I was lying. Well, read for yourself what the Republicans on the Senate Budget Committee say about Saxby Chambliss‘s proposal: It seems the G6 plan does not balance elimination of deductions with reductions of rates in | Read More »
Blame Obama’s insatiable insistence on more and more taxes for the collapse of the debt ceiling negotiations. In the Los Angeles Times, Peter Nicholas and Lisa Mascaro tell us that on Sunday, July 17, Obama and the Republicans had agreed upon “$800 billion in revenue increases.” On Tuesday, July 19, the Gang of Six unveiled its deficit reduction proposal that included more than $1 trillion in | Read More »
Greta Van Sustren has a quote up from Eric Cantor. Cantor and the House Republicans are blaming Saxby Chambliss, Mike Crapo, Tom Coburn, and the other members of the Gang of Six for blowing things for them. It might actually be a blessing in disguise. Why? Because the overlooked portion of the Cantor statement makes clear to House Republicans that Leadership is abandoning Cut, Cap, | Read More »
This is really sad and pathetic. I can only guess they have struck such a bad deal because they negotiated from a position of fear. You never get a good deal when you are negotiating because you are scared. The Senate Budget Committee is sending around an email pointing out some of the horrors of the Gang of Six’s gangrene plan. Consider this: Saxby Chambliss, | Read More »
Download Podcast | iTunes | Podcast Feed On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca and Congressman Paul Ryan to discuss the latest in the debt ceiling negotiations, the Senate’s Gang of Six plan, and the need to means test entitlement reform. We’re brought to you as always by BigGovernment and Stephen Clouse and Associates. If | Read More »
Download Podcast | iTunes | Podcast Feed On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Congressmen Bill Cassidy, Steve King and Jeb Hensarling to talk about the House passage of Cut, Cap and Balance, the Gang of Six plan in the Senate and more. We’re brought to you as always by BigGovernment and Stephen Clouse and Associates. If | Read More »
Tuesday night felt pretty good, didn’t it? The House GOP, joined by five Democrats, voted for Cut, Cap, and Balance. Finally, the House led on solid reform to turn the tide. Senators got active quickly to undermine the effort and still the House held the line. Great, wasn’t it? The Gang of 234 stood for freedom and, as an added bonus, gave a wonderful middle | Read More »
Analyzing the six-page “Gang of Six” proposal for rewriting the federal budget is like measuring a bucket of water by holding the water in your hands. Having said this, it looks like Coburn, Crapo, and Chambliss got their clocks cleaned.
Download Podcast | iTunes | Podcast Feed On today’s edition of Coffee and Markets, Brad Jackson is joined by Pejman Yousefzadeh and Elizabeth Blackney to discuss the Gang of Six plan to settle the budget deal and what “increased revenue” might mean, then we’ll talk about the British scandal centered around Rupert Murdoch’s News of the World. We’re brought to you as always by BigGovernment | Read More »
As a rule of thumb, any idea coming from a gang is not a good one. This holds true in the real world; it is certainly true in the gangster world of the U.S. Senate. Members of the media are agog with glee over the supposed Gang of Six deal to cut the deficit by $3.7 trillion over 10 years. There is much hype over | Read More »
The “Gang of Six”, which is the group in the Senate trying to come up with bipartisan tax increases and tax restructuring to implement the Deficit Commission’s plans, is collapsing. Late yesterday, Oklahoma Republican Tom Coburn bolted from the group because the Democrats are unwilling to deal with restructuring entitlements in their quest to raise taxes. Two Republicans remain, Mike Crapo of Idaho and Saxby | Read More »
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