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Say Anything: Is Obama Planning A $3 Trillion Tax Increase?
Tertium Quids: A $3 trillion tax increase?
Ace of Spades HQ: Trial Balloon: Hey, Let's Let the Bush Tax Cuts Expire, and Impose Higher Taxes on the Middle (and Lower?) Class
Reactions
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Is Obama planning a $3 trillion income tax increase? http://is.gd/4XmRt #tcot #teaparty #gop 11/18/2009 |
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RT @RJCHQ @JimPethokoukis Obama adviser hints a giant middle-class tax increase http://bit.ly/2A8fRo (Not even counting a VAT) #jcot #tcot 11/18/2009 |
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RT @JimPethokoukis: Obama adviser Romer hints at a giant middle-class tax increase http://bit.ly/2A8fRo (Not even counting a VAT) 11/18/2009 |
Is Obama Planning A $3 Trillion Tax Increase?
Say Anything —
It sure sounds that way listening to Obama administration economist Christine Romer:
But the chairman of the president’s Council of Economic Advisers admitted that health reform and a growing economy isn’t enough to bring down the deficit. She did mention one other place that revenue could come from: letting the Bush tax cuts expire.
So how does that translate into a $3 trillion tax hike? James Pethokoukis explains:
Since Obama already wants to get rid of the income ...
A $3 trillion tax increase?
Tertium Quids —
This is sure to spark a recovery ...letting all the Bush tax cuts expire: Since Obama already wants to get rid of the income and capital gains tax cuts for wealthier Americans that expire at the end of 2010, clearly what [Council of Economic Advisers chair Christina] Romer is referring to is the rest of the 2001 and 2003 Bush tax cuts. Letting all the 2001 cuts — rate reductions, child tax credit marriage penalty relief — expire would raise tax revenues by $2.5 trillion through 2019. (These CBO numbers assume no negative economic feedback impact from higher taxes.) And letting ...
Trial Balloon: Hey, Let's Let the Bush Tax Cuts Expire, and Impose Higher Taxes on the Middle (and Lower?) Class
Ace of Spades HQ —
Trial Balloon: Hey, Let's Let the Bush Tax Cuts Expire, and Impose Higher Taxes on the Middle (and Lower?) Class The state is hungry. It needs feeding. But the chairman of the presidents Council of Economic Advisers admitted that health reform and a growing economy isnt enough to bring down the deficit. She did mention one other place that revenue could come from: letting the Bush tax cuts expire. [James Pethokoukis]: Since Obama already wants to get rid of the income and capital gains tax cuts for wealthier Americans that expire at the end of 2010, clearly what Romer is ...
Grim milestone: National debt now tops … $12 trillion
Hot Air » Top Picks —
... budget review issued in August projects that by the end of the current fiscal year on Sept 30th, the National Debt could top $14 trillion. It gets worse. The same document projects that by the end of the decade, the National Debt will hit $24.5 trillion — exceeding the Gross Domestic Product projected for 2019 of $22.8 trillion. You may, if you wish, follow the link to learn how much you and your kids each individually owe, but I honestly wouldn’t recommend it. Instead, read this nifty catch by James Pethokoukis of murmurs within the administration about repealing the Bush ...
Morning Briefs: Stuff You've Probably Already Read Somewhere Else
Moonbattery —
... ; so it was actually more of a "tax loan." Also, Obama's economic advisors are raising the possibility of revoking all of the Bush tax cuts, not just those on the prosperous. Marriage penalty - back. Child tax credit - cut 60%. Death tax - back. They think it will raise $2.5 Trillion, but that won't close the projected $9 Trillion in deficits they expect to run up. So, where do you think that other six or seven trillion is going to come from? ...
Debt Tops 12 Trillion – Can A Substantial Tax Increase Be Far Behind?
QandO —
... James Pethokoukas thinks he’s picked up on how they plan on doing that – or at least the trial balloon they’ve launched concerning their idea to see how well it flies. He saw this is the ...
Deficit Politics coming soon
MyDD —
... Hopefully, he'll have learned from the TARP mistakes and let the failures fail, and let the wealthly, instead of the middle-class, take a loss. The other politcal posturing that's going to be done is over Bush's tax-cuts, which expire in 2010. Democrats have rightly campaigned on them to not be extended, and Republicans will jam it down the newwire that Obama is raising taxes. So, how long before some Democrat in the Senate says we ought to extend them? ...
Memorandum
The Reaction —
... GOP SUBEJCT: Wooing New Voters If u r selling fear, u r doing it rong. This week has seen some pretty spectacular fear-mongering amongst the GOP, and I suspect it will spell the eventual downfall of the party as a whole. Item 1: Palin on Nidal Hasan: "Profile Away" Item 2: Holder: Don't fear trial of 'coward' 9/11 plotter Item 3: Is Obama planning a $3 trillion income tax increase? Item 4: ...
