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This story is still developing and I haven't been able to confirm anywhere else but according to Bloomberg News there are a few "dozen" Republicans who are ready to back the tax rate compromise.

A few dozen Republicans have joined a bipartisan call to break the impasse between President Barack Obama and House Speaker John Boehner over taxes for the highest- earning Americans.  The Republicans signed a letter calling for exploration of “all options” on taxes and entitlement programs, a signal that some rank-and-file members are ready to bargain.
Story still developing will update accordingly....


Will There be a Deal Before the End of the Year?

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| 158 votes | Vote | Results

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Comment Preferences

  •  I've heard rumors there are about 40 Republicans. (1+ / 0-)
    Recommended by:

    I'm trying to get my hands on a copy of the letter. I'm not so sure this is good news.  Once we get passed higher taxes what are the cuts going to look like? Hmmm.....

  •  Hahaha (3+ / 0-)

    Oh, nothing ever changes. "All options." Right. They were also sincere when when they so bravely rejected that Norquist pledge as an act of symbolism. This whole "this time we mean it" is getting old. Verbal apologies are great. But actual actions mean more to us. What a spectacle.

    “I would gladly accept some rate increase if some spending reduction was locked in, but the White House is not addressing any of that,” said California Representative Brian Bilbray, who is retiring.
    One of the petition leaders, Representative Mike Simpson of Idaho, says he could accept higher rates for married couples earning more than $500,000 a year, in exchange for an overhaul of spending on entitlements such as Medicare.
    The proof of the pudding is in the flavor. They just can't help themselves, so they keep asking for middle class tax cuts to be bundled to everything else. A spectacle, indeed.

    "Growth for the sake of growth is the ideology of the cancer cell." ~Edward Abbey ////\\\\ "To be a poor man is hard, but to be a poor race in a land of dollars is the very bottom of hardships." ~W.E.B. DuBois

    by rovertheoctopus on Wed Dec 05, 2012 at 01:17:48 PM PST

    •  True...but we haven't even been able (1+ / 0-)
      Recommended by:

      to get past the "the marginal tax rates for those over 250K are going up".  Once we can get past that then we can fight over where the cuts are going to come from.  I don't think Prez O and Nancy P are going to allow those types of deductions.  They've already said not bringing down the deficit on the backs of the poor and middle class.  So..I'm keeping my fingers crossed.

      •  Which makes it all the more ridiculous (2+ / 0-)
        Recommended by:
        Liberal Panzer, JamieG from Md

        By default, tax rates for those above $250,000 will go up if no action is taken. Same with everyone else's taxes. So it's absurd to even suggest that there's any negotiating to be done here. The real focus worth attention is that middle class tax cuts are going to rise, and the GOP is behind the eight ball as they're on an irrelevant tangent to suggest that tax hikes for the rich (already slated to happen, giving Obama no incentive to move on that front) should be negotiated out of entitlement reform. Before January? Not going to happen.

        Obama has no incentive to introduce en "entitlement reform" (on programs which aren't exactly relevant to deficit reduction) at this point. He's going to get the tax hikes on the $250,000+. So to me, this all translates to the GOP marginalizing the middle class altogether, as they flagrantly just can't be bothered offering up a bill with locked in middle class tax rates without the bundling bullshit. It's very. Very. Tiresome.

        That said, if the GOP could ever just get over with unbundling middle class tax rates, then have Obama sign the thing, then they might have wiggle room come next year to say "See, tax rates are up on the wealthy. Now do something in return on the rest of this." Anywho, the GOP could be further helpful by specifying what they want to cut. But they won't. Apart from the Ryan budget, they have nothing.

        "Growth for the sake of growth is the ideology of the cancer cell." ~Edward Abbey ////\\\\ "To be a poor man is hard, but to be a poor race in a land of dollars is the very bottom of hardships." ~W.E.B. DuBois

        by rovertheoctopus on Wed Dec 05, 2012 at 01:54:41 PM PST

        [ Parent ]

        •  Boehner "needs" a deal. (1+ / 0-)
          Recommended by:
          JamieG from Md

          Boehner wants the Bush tax cuts made permanent.  He's stuck is neck out and mortgaged all of his political cred to the hilt --- and he's probably sold his soul to the KochGod, too.  There's an awful lot of money riding on his success, and it wouldn't surprise me if the man found himself out of a job when there's no deal before year's end.

          In short:  No more Bush tax cuts just might mean no more Speaker Boehner....

          I count even the single grain of sand to be a higher life-form than the likes of Sarah Palin and her odious ilk.

          by Liberal Panzer on Wed Dec 05, 2012 at 03:10:01 PM PST

          [ Parent ]

      •  Could we please describe this accurately? (9+ / 0-)

        It's not "Marginal tax rates for those over 250K are going up," it's "marginal rates for INCOME over 250K are going up."

        The important difference is that EVERYONE gets the low rate on the first $250,000 of income.

  •  I'd love to see Boehner ignored. (6+ / 0-)

    If only by like 20 people in his party to vote with ours.  It would be a blow to both the tea party, and to his leadership.  It's happened to Democrats a few times, it would be great if it happened to Republicans.

    Would remind me of the end of the movie Lincoln. (Not Lincoln getting shot.  The part in the House of Reps.)

    •  I've got to go see that movie!! I heard it is... (3+ / 0-)
      Recommended by:
      VirginiaBlue, sharman, madmojo

      GREAT.  I also heard that there are about 40 Republicans ready to defect too.

    •  oh, he wouldn't be *totally* ignored (1+ / 0-)
      Recommended by:

      he can't keep a leash on defectors. he never had one on the tea party crazies.

      someone, from one of the splintering factions of the once unified gop coalition, or another, is bound to pitch a big old nuclear-powered nutty at boehner for his complete leadership incompetence before long.

      and i think this right here -- the potential for sufficient republican support for ( * gasp !! * ) actual compromise on taxes -- would be a prime candidate to see the crazy villagers to come all wild-eyed and pitchforky and mouth be-foamed calling for boehner's political head to roll.

      "everybody's got something to hide except for me and my monkey." -john lennon

      by homo neurotic on Wed Dec 05, 2012 at 01:41:15 PM PST

      [ Parent ]

    •  All they need to do... (0+ / 0-)

      Is sign the discharge petition. If it gets close enough, Boehner will call a vote in a way where he can try and spin it somehow.

      But... 218 signatures and 218 votes and this is over.

      GOP: The Party of Acid rain, Abortion of the American Dream, and Amnesty for Wall Street.

      by Attorney at Arms on Wed Dec 05, 2012 at 02:49:44 PM PST

      [ Parent ]

  •  Reading the Bloomberg story (7+ / 0-)

    It sounds like the "dissident" GOP legislators are willing to do this... if Obama agrees to cuts in entitlement spending.

    I say no dice.  SS and Medicare are not the problem here.


    For at least another hundred years we must pretend to ourselves and to everyone that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury and precaution must be our gods for a little longer still. --John Maynard Keynes

    by Kurt from CMH on Wed Dec 05, 2012 at 01:38:45 PM PST

    •  You are right but the administration (0+ / 0-)

      has already agreed to 400 billion in medicare cuts in the President's most recent proposal.  We've already had 600 billion entitlement cuts early this year so if we agree to the 400 billion we've already cut almost 1T.  This is doable.

  •  You can bet they're the M-I-C wing of the caucus (0+ / 0-)

    and the attempt would be to trade ending the extra Bush tax cuts for not making any DoD cuts.  

    They have the billionaires, We have the Big Dog!

    by Jacoby Jonze on Wed Dec 05, 2012 at 01:39:42 PM PST

  •  Not. Gonna. Happen. (0+ / 0-)

    Everybody knows the GOP operates in lock-step.  Boehner just "purged" a few disloyal (Boehner's own words) members who failed to vote as commanded.  

    People who believe republicans will actually VOTE for tax rate increases are delusional.  The senate GOP couldn't even muster a vote for the disability treaty yesterday because of their fears of being primaried!  Taxes are the holy grail!  Not.  Gonna.  Happen.  

  •  go over the cliff (1+ / 0-)
    Recommended by:

    then refuse to agree to anything UNLESS the debt ceiligng is raised and tax cuts are reenacted for the first 250K

  •  Work it his way: (0+ / 0-)

    Pick a number for the new debt ceiling, and demand long-term renewal of Bush tax cuts up to $250K  Tell him SS and Medicaid/Medicare are off the table.  Give Boehner 72 hours.  He runs out of time, Come back with all of the above --- and then some.  Give him another 72 hours.  Keep this going until we go over the cliff --- and then tell him "nothing less than complete unconditional surrender to all Dem demands."  We've weathered worse than what this anthill-of-a-cliff is going to bring.  Much worse....

    I count even the single grain of sand to be a higher life-form than the likes of Sarah Palin and her odious ilk.

    by Liberal Panzer on Wed Dec 05, 2012 at 03:20:31 PM PST

  •  No wonder (0+ / 0-)

    the House members went home today (Weds).

  •  & Entitlement programs, I heard enough (1+ / 0-)
    Recommended by:

    I aint trading nothing for a cut in SS.

    "Take your stinking paws off my Social Security, you damned dirty ape."

    Colonel George Taylor.

    FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

    by Roger Fox on Wed Dec 05, 2012 at 05:52:36 PM PST

  •  Bush tax cuts might . . . (0+ / 0-)

    be resolved before the New Year. The other elements regarding sequestration, I doubt it.

    If the GOP was saavy it would try to take the tax increase issue off the table rather than letting rates rise.  It can come back later and negotiate some sort of deal on the top tax rate.  In reading the tea leaves, I think there's support even on the Dem side for putting in a higher rate at a higher income threshold (e.g. either at $500K or as a tax on millionaires).

    If the GOP lets rates rise by doing nothing, I think it loses leverage, because the action would play into the "obstruction" narrative. It just makes the GOP look even more unreasonable and it will likely harden perceptions of the GOP as a party that exists only to protect the super-rich.

    If we get a deal on the Bush tax cuts it won't be until the 11th hour probably the last week of December.  I just don't see a strong likelihood that there will be a resolution on the other issues before the New Year.

    Social Security and Medicare benefit cuts should be a non-starter.  The Dems should draw a red line on this issue.  If the GOP wants to pass benefit cuts, let them campaign on the issue and try to see how it plays during the mid-term cycle.  If they actually win seats, then they might have an argument for revisiting this issue in 2014-2016.  More likely if the GOP runs on this, they will lose seats.  This is one reason why they are looking for the Dems to provide some political cover.  There is no reason for the Dems to do this as a matter of policy or politics.

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