Tax debate becomes post-election issue that steers direction of Republican Party

Dec 1, 2012 | Posted by: roboblogger | Full story: Fox News

The fiscal negotiations in Washington continue to divide congressional Republicans who now appear in the position of having to agree to some measure of tax increases to generate revenue to reduce the federal deficit.

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Makes sense

Dearborn Heights, MI

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#21
Dec 3, 2012
 

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Wall Street Government wrote:
<quoted text>
Some Democrats are steamed that businesses closing U.S. operations can deduct the closing costs as standard business expenses. "The law, right now, permits companies that close down American factories and offices and move those jobs overseas to take a tax deduction for the costs associated with moving the jobs to China or India or wherever," said Sen. Sheldon Whitehouse, D-R.I., last year.
PolitiFact Rhode Island delved into Whitehouse's statement in some detail and ruled his statement True. In general, businesses can deduct any costs they face in the course of doing business. And the costs of shuttering a factory in the United States are not exempt.
Whitehouse supported legislation to change that by disallowing exemptions associated with offshoring, which an official summary defines as "any transaction in which a taxpayer reduces or eliminates the operation of a trade or business in connection with the start-up or expansion of such trade or business outside the United States." The bill failed in the Senate because it couldn't get the 60 votes required to cut off the threat of filibuster and move the bill toward final passage. The bill failed on a 53-45 vote, largely along party lines, with Democrats voting for it and Republicans voting against it.
Figures.
ALL PATRIOTIC Americans are OUTRAGED by the 1% who want America to be a Colony again, this time by China and who are using our tax dollars to do so.

Since: Feb 07

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#22
Dec 3, 2012
 

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anneutral wrote:
Allow the sequestration to go into effect.
Let ALL the 2001/2003 tax cuts to expire.
The Community Organiser threatens with OCCUPATION and voter panic. He has a very low opinion of us and an unrealistic image of himself.
He wants to be Santa this season, I don't want his affection for the m.Brotherhood in my government.

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#23
Dec 3, 2012
 

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Le Jimbo wrote:
<quoted text>The only person whining is Obama. Tell him to man up and produce a plan.
Plan's been on the table for a week.

Tell GOP to grow a pair and see what America voted for.

And you've been whining for three weeks.

Three years and 11 months to go, eh, Scrotumsniff?

“your life is great”

Since: Aug 09

you poop in clean water

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#24
Dec 3, 2012
 

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Le Jimbo wrote:
<quoted text>Yes and bring back the guillotine.
95% of taxpayers will see a 0.9% increase in payroll taxes.

your "cliff" is more like an anthill for the majority.
Rob Johnston

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#25
Dec 3, 2012
 

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barefoot2626 wrote:
<quoted text>
Plan's been on the table for a week.
Tell GOP to grow a pair and see what America voted for.
And you've been whining for three weeks.
Three years and 11 months to go, eh, Scrotumsniff?
We need to stop the arguing and prepare our families for the dramatically devalued future we assured when we chose Obama over Romney.

Since: Feb 11

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#26
Dec 3, 2012
 

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Rob Johnston wrote:
<quoted text>
We need to stop the arguing and prepare our families for the dramatically devalued future we assured when we chose Obama over Romney.
Tell us about the sky, PA! Is it falling?

Gosh, for the day when this country was run by just white men...
Cat74

Schaumburg, IL

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#27
Dec 3, 2012
 

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The Republicans would be foolish to be blackmailed into tax increases without spending cuts. And they are not foolish.
GhostofRaygun

Morgantown, KY

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#28
Dec 3, 2012
 

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Rob Johnston wrote:
<quoted text>
We need to stop the arguing and prepare our families for the dramatically devalued future we assured when we chose Obama over Romney.
When the job lost gets to the 726,000 per month again like in 2008 get back with us on the matter.,
Cat74

Schaumburg, IL

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#29
Dec 3, 2012
 

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When the Democrats help create jobs let us know. All those small businesses that might have hired, will not now. We can't afford to pay people as much as they get from the American taxpayer.
GhostofRaygun

Morgantown, KY

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#30
Dec 3, 2012
 

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Cat74 wrote:
When the Democrats help create jobs let us know. All those small businesses that might have hired, will not now. We can't afford to pay people as much as they get from the American taxpayer.
37 straight months of job growth. When we have one month that is not on the plus side get back with us on the matter. 17 tax cuts for small business since 2009. When a small business has their taxes raised get back with us on the matter.

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#31
Dec 3, 2012
 

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Cat74 wrote:
The Republicans would be foolish
Republicans back seven candidates in six months before they settle on Mitt Romney who had been running for five years and he still came in second.

'nuff said.
Rob Johnston

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#32
Dec 3, 2012
 

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barefoot2626 wrote:
<quoted text>
Republicans back seven candidates in six months before they settle on Mitt Romney who had been running for five years and he still came in second.
'nuff said.
Like the butcher job the hard left did on honorable Democrats who supported Hillary in '08.. It was so demeaning and disgusting to fair minded Americans of every political stripe. Patriotic Democrats loosing their Party to the far freak fringe Left was devastating for us all.
Cat74

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#33
Dec 3, 2012
 

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Where is that growth? Unemployment is still 8%. And there are 5,000,000 jobs then there were in 2009.
Cat74

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#34
Dec 3, 2012
 

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Correction 5,000,000 fewer jobs then in 2009
Wall Street Government

Sebastian, FL

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#35
Dec 4, 2012
 

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Rob Johnston wrote:
<quoted text>
Like the butcher job the hard left did on honorable Democrats who supported Hillary in '08.. It was so demeaning and disgusting to fair minded Americans of every political stripe. Patriotic Democrats loosing their Party to the far freak fringe Left was devastating for us all.
Just like the necons before them, the teabagger nut jobs of the Republican party are doing a "butcher" job on America, all in the name of politics.

Party and Grover before people.

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#36
Dec 4, 2012
 

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barefoot2626 wrote:
<quoted text>
Plan's been on the table for a week.
Tell GOP to grow a pair and see what America voted for.
And you've been whining for three weeks.
Three years and 11 months to go, eh, Scrotumsniff?
Obama's only plan is tax tax tax tax tax spend another trillion, vacation, golf, tax tax tax.

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#37
Dec 4, 2012
 

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Wall Street Government wrote:
<quoted text>
Just like the necons before them, the teabagger nut jobs of the Republican party are doing a "butcher" job on America, all in the name of politics.
Party and Grover before people.
Tell your boy to offer a plan and not just verbal distractions. Is he going to lead, and are you going to keep holding his hand so he don't cry.

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#38
Dec 4, 2012
 

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barefoot2626 wrote:
<quoted text>
Republicans back seven candidates in six months before they settle on Mitt Romney who had been running for five years and he still came in second.
'nuff said.
House GOP makes a $2.2 trillion debt counteroffer to Obama on cliff

By Russell Berman - 12/03/12 08:17 PM ET

House Republican leaders on Monday made a counteroffer to President Obama in the “fiscal cliff” negotiations that would cut $2.2 trillion from the deficit with a combination of spending cuts, entitlement reforms and $800 billion in new tax revenue.

Republican officials said their 10-year plan contained more deficit reduction than the offer the White House presented last week while standing firm against Obama’s demand to increase tax rates on the wealthy.

The White House quickly panned the offer, saying it contained “nothing new” and did not “meet the test of balance.”

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#39
Dec 4, 2012
 

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anneutral wrote:
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95% of taxpayers will see a 0.9% increase in payroll taxes.
your "cliff" is more like an anthill for the majority.
Fine, let's jump over it then. I pay taxes, it's time liberals have some skin in the game to.

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#40
Dec 4, 2012
 

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House Speaker John Boehner said in a statement:


In a letter sent to President Obama today, House Republican leaders made a new offer to avert the fiscal cliff centered around a middle ground approach first presented to Congress last year by President Clinton’s former White House chief of staff, Erskine Bowles. The Bowles plan, presented in 2011 to the Joint Select Committee on Deficit Reduction, is consistent with the framework House Speaker John Boehner (R-OH) proposed the day after the election: a balanced approach of significant spending cuts and new revenues from tax reform with fewer loopholes and lower tax rates. This is another attempt to jumpstart substantive, good faith negotiations toward a bipartisan solution that can be enacted soon, a stark contrast to the unserious proposal the White House put forward last week.

In a document obtained by Right Turn from House Republicans, the plans match up as follows:


President’s Deficit Reduction

Tax Rates Increases:$960B

Elimination of Deductions:$600B

Spending Cuts:$400B



New Stimulus/Other

Infrastructure Spending:-$95-425B

Payroll Tax Extension:-$110B

Unemployment Insurance:-$30B

Stimulus Tax Extenders:-$27B

Unpaid for SGR Patch:-$25B

Mortgage Plan: Unknown

Elimination of Debt Limit: N/A

NET SAVINGS:(At most)$1.673T



House Republican Counter

(Based on the Bowles Proposal to the Joint Select Committee on Deficit Reduction)

Deficit Reduction

Revenue through Tax Reform:$800B

Health Savings:$600B

Other Mandatory Savings:$300B

Revision to CPI:$200B

Further Discretionary Savings:$300B

NET SAVINGS:$2.2T

A House leadership aide told Right Turn that “the GOP offer includes more deficit reduction than the White House offer last week, which included hundreds of billions in new ‘stimulus’ spending. Our net deficit reduction is $2.2 trillion, but if we were to utilize White House schemes to count (1) previously-enacted Budget Control Act savings,(2) a war savings gimmick, and (3) further interest savings, our proposal would result in $4.6 trillion in deficit reduction savings, much more than theirs.”

So we have the potential for a deal that is somewhere between Bowles’s plan last year and the president’s plan. It is not, however, a matter of simply total savings. The Republicans have included far less revenue, as well as less revenue to be obtained through tax reform. The Democrats have yet to present a substantive offer that looks at systemic entitlement reform. The Republicans have shown that, contrary to the liberal-media meme, Boehner and not Grover Norquist controls the House.(And we expect this is not even the final GOP offer, leaving room for more revenue perhaps.)

We are far from a deal. We’re not close, but we are no longer “nowhere.” Your turn, Mr. President.

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