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View Diary: Norquist backs Boehner, endorses increasing revenue by lowering taxes (148 comments)

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  •  So let's imagine they go to the polls in 2014 (5+ / 0-)

    ... with the fully sequester package.  Tax hikes for all, big defense and other cuts.   Who takes the blame for the resulting recession?    Well, Obama won't be on the ballot, but the House majority will be.

    But I'm not sure how that will play out.

    •  And they know that. (0+ / 0-)

      Obama holds all the cards now, and they know that also.

    •  Except that, (1+ / 0-)
      Recommended by:

      By 2014, the sequester will be a faint memory, the working class will be enjoying the "Obama tax cuts" crucial programs that had been cut will have been rather quickly restored and the economy will be on the way up, big time.
      And the deficit will be shrinking.
      And if this not how it works out, it will be because the GOP has continued to obstruct.

      If I ran this circus, things would be DIFFERENT!

      by CwV on Mon Nov 12, 2012 at 11:40:32 AM PST

      [ Parent ]

      •  I don't know what you mean by that (1+ / 0-)
        Recommended by:

        If the GOP won't do a deal, middle class and upper class taxes will go up, government spending will contract, and a recession begins on top of the current weak economy.   It could easily wreck things through 2014... and the politics of it depend on whether the Dems can pin on it the GOP.

        •  If we actually go off the fiscal bluff (3+ / 0-)
          Recommended by:
          ColoTim, Miles, Calamity Jean

          nothing will happen immediately.
          Except that the GOP's leverage will evaporate.
          Obama and the Dems will immediately work to make tax cuts (retroactive to Jan1) for working class people the law, now freed of the baggage of the top bracket tax cuts. And the GOP will either pass the Obama tax cuts or show, once and for all, that they are all only about tax cuts for the rich.
          But the tax cuts for the rich are not just income taxes. Most of the upper bracket income is Cap Gains and Interest/dividends. Those rates have been kept VERY low, that's why Rmoney and his strata pay so much less than wage earners, percentagewise. When those rates revert to Clinton Era, it will mean a much better revenue picture.
          Meanwhile the "across the board" spending cuts will be picked apart. Sequestration cuts the Pentagon Budget by 10%. Obama and the Pentagon brass identified cuts they were comfortable with that totaled 5%, before the sequestration became a thing. They can bargain away half of the sequestration cuts without the Pentagon squeeking.
          SocSec and the Medis were exempted from the sequestration, so they are safe as is and Obama, Biden, Reid, Murray and Pelosi have all dug in their positions on this.
          The rest of the cuts will be fodder for fight after fight, restoring essential programs, weeding out non-essential ones, finding efficiencies where possible. All of these fights must be framed as "This program helps__(some part of the 99%). This cut hurts__(some other part of the 99%). If the GOP obstructs, they can be blasted for hurting one or another of their non-constituencies.
          Given that the increase in revenue and decrease in spending (just the Pentagon alone, at 5% is better than $50billion/year, half a trillion in 10 years), by 2014 we should be well on our way to a much better economy.

          If I ran this circus, things would be DIFFERENT!

          by CwV on Mon Nov 12, 2012 at 12:30:33 PM PST

          [ Parent ]

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