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View Diary: Mr. Turtle cluelessly clamors for debt limit debate that President Obama says he won't get (213 comments)

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  •  You think the Republicans are (1+ / 0-)
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    going to raise taxes twice?  Why do you think people have been freaking out so much about a lack of leverage now that the rates have changed?  

    The tax rates are done.  Over.  I'll expect another debate on them at about the same time the House takes up the public option.  If anything, the only changes we may see to rates is for them to go down, as an exchange for ending some tax spending.  If we're lucky, that will net increased revenue to the government, and not just be revenue neutral (increased revenue is the "pragmatic" GOP's bargaining position - revenue neutral is what the party base will demand).

    •  You think we will cut earned benefits for nothing? (0+ / 0-)

      No. A bill that only cuts the big 3 and provides no new tax revenue will not pass the Senate.

    •  Yes (1+ / 0-)
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      Boehener offered in the deal making 800 in REVENUE. Not tax rates. So let us see what are those 800 billions in revenue

      We can start by the mortgages, follow by charitable donations, corporate subsidies ad tax exemptions and go on.

      Obama has were to ask for Boehner and Romney gave him plenty

      •  I have no problem raising cap gains rates and (4+ / 0-)

        phasing out mortgage deductions.  In fact I suggested phasing them out over twenty years some thirty years ago, in school.

        One piece of free advice to the GOP: Drop the culture wars, explicitly.

        by Inland on Thu Jan 03, 2013 at 08:02:20 AM PST

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        •  strongly favor eliminating the MITD (1+ / 0-)
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          it is terrible policy

        •  Not the right time to change mortgage deductions (0+ / 0-)

          Full disclosure: I have borrowed a bunch of money from a bank to purchase a house, and thus pay enough interest on an annual basis to be able to itemize from that one deduction alone.

          This is probably not the right time to be looking at reducing or eliminating the mortgage deduction, strictly from an economic viewpoint. Housing has been in a national slump since 2006 and is only barely back to a year-over-year gain in 2012. Reducing the deduction will make housing effectively more expensive to finance, thus reducing the nominal price paid for all houses that are financed. This depression of the price of housing will not help anybody but speculators who can pay cash, and will continue to put downward pressure on the larger economy.

          The time to do this is once the housing market has begun a visible rebound and is better able to handle a gradual reduction in this subsidy.

    •  I don't expect them to want to. (0+ / 0-)

      I expect that any bitching and moaning about the awful, awful deficit caused by spending to be met with a gracious solution of raising taxes.  Or revenues, if they need cover.

      This is a particularly good time for it, since the debt crisis is a future crisis at most, that will be met with future cuts, so future tax increases make as much sense, taking the republicans word that it's the debt that they are really against.

      I expect the things that will compel concessions from the republicans are what compelled them this time: an inability to find a politically viable course they can all agree on.  

      One piece of free advice to the GOP: Drop the culture wars, explicitly.

      by Inland on Thu Jan 03, 2013 at 08:00:58 AM PST

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    •  taxes are not done (0+ / 0-)

      GOP does not get to call this.

      there will be a push for tax reform which is overdue. people probably don't know that when the limit was raised to $400 some deduction caps were put in place for the wealthy which was done so O could say the 2% are paying more

      there is also room for further changes to capital gains. some sort of increase if companies sit on cash rather than reinvest in business.

      most economists that know their stuff say that when economy stabilizes and growth is sustainable at 3.5% or above there would be room for tax increases.

      mittens=edsel. no matter how much money is spent to promote it, if the product sucks, no one will buy it.

      by wewantthetruth on Thu Jan 03, 2013 at 10:04:47 AM PST

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      •  Tell me how to get tax increase passed (1+ / 0-)
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        in the House.

        Hostages have been taken and we'll all fear they'll "destroy the economy just to make Obama look bad".

        So, major cuts are must compromise.

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