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View Diary: Boehner just shot himself in the foot (170 comments)

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  •  I think your interpretation is wrong and (2+ / 0-)
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    VClib, nextstep

    this is what he was really saying:

    He could be talking about the difference between increasing tax rates and increasing revenue through ending loop holes
    I saw that interview.  (I generally watch all the Sunday shows.)  The idea that he was talking about "no difference" between increasing tax rates on households above $250,000 and increasing tax rates on the "super rich" (say, households over $1 million) was never discussed.  Instead, Boehner was clear all the way through that he was talking about raising tax revenue through closing deductions and loopholes for "the rich" rather than increasing tax rates on "the rich," and that if you get $800 billion in increased revenue, it doesn't matter (for deficit reduction) whether that $800 billion comes from closing deductions/loopholes for the rich or increasing tax rates on the rich.  

    I think that the most likely outcome of all of this is that the Republicans agree to raise rates on the super-rich (annual AGI over $1 million), and perhaps close deductions/exemptions on households $250,000 to $1 million.  And I don't think he did anything to hurt that possibility.  Republicans could say they raised rates on millionaires and billionaires (giving the President the rate increases he demanded) while protecting "small business" from rate increases but getting some additional revenue from them.  It seems to me a compromise that gives both sides something on the revenue side, which is how a compromise has to work.

    What I didn't see is an outline for a compromise on the spending cuts.  

    •  yeah I think you might be correct (0+ / 0-)

      but I was presenting ThinkProgress's interpretation not mine. They are generally good at this stuff. But I am wary of it this time.

    •  The difference (6+ / 0-)

      "... he was talking about raising tax revenue through closing deductions and loopholes for "the rich" rather than increasing tax rates on "the rich," ..."

      The difference is that in the raising revenues scenario, the upper middle classes or the "less rich" people get shafted while the really rich (i.e. super rich) folks get away.  

      In the raising rates scenario, ALL the 250K+ or 500K+ or however it is defined, will have to pay higher top tax rates.

      There is a difference between a 400K person paying 20K more in taxes and a 5M person paying 20K (or even 40K or 60K) more.  In the former case, it amounts to a tax hike of 5%.  In the latter case, it is 0.4% (and even if it's 60K, the increase is just 1.2%)

      So basically, the Republicans are offering the less rich as sacrificial lambs in order to protect the obscenely rich.  I find the irony to be rich (pun intended).  It was the less rich folks that have been carrying the water for the super rich all these years.  And now they get shafted!   Who said God has no sense of humor?!  ;-)

      (-7.75,-5.64) Headline: "Man who told half the nation to go screw themselves somehow loses a national election".

      by Whirlaway on Sun Dec 02, 2012 at 10:01:56 AM PST

      [ Parent ]

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