Opinion: Obama's Tax Bill Comes Due

Opinion: Obama's Tax Bill Comes Due

There are 174 comments on the Wall Street Journal story from Jan 1, 2013, titled Opinion: Obama's Tax Bill Comes Due. In it, Wall Street Journal reports that:

The headlines say the Senate has passed a bill to avoid the tax cliff, hallelujah.

Join the discussion below, or Read more at Wall Street Journal.

Since: Nov 12

Location hidden

#44 Jan 2, 2013
Mykro wrote:
<quoted text>Their weakness is signing the Norquist Pledge. I'd like to know how he wields all this influence. No one elected him to anything.
Ask George Soros.

“Stop the Brain Rot”

Since: Jan 12

Take a Looonng Vacation

#45 Jan 2, 2013
More far right opinion from the Wank St. Journal, the limp, flaccid Murdoch house 'organ.'

As with other such commentary, it may be safely ignored - although you may feel free to laugh at it for the nonsense it is.:)

“Stop the Brain Rot”

Since: Jan 12

Take a Looonng Vacation

#46 Jan 2, 2013
La Santa Muerte wrote:
<quoted text>
Ask George Soros.
Non-response, since Soros is not eliciting pledges of fealty from Democrats as Norqvist is from obedient Teabag Party Rightwingers.
FocusOnCorporate Whores

Bryn Mawr, PA

#47 Jan 2, 2013
Which is worse. Paying credit card bills with other credit cards or making minimum interest compiling payments over time.

Look at the national debt as a credit card bill. Look what many who got spanked during the crash now do out of necessity-pay cash. Wuh-woh

Too big to fail scnerio playing out as we speak.

“Stop the Brain Rot”

Since: Jan 12

Take a Looonng Vacation

#48 Jan 2, 2013
La Santa Muerte wrote:
<quoted text>
Senate's "fiscal cliff" bill adds $4 trillion to deficits: CBO
WASHINGTON (Reuters)- The Congressional Budget Office on Tuesday said Senate-passed legislation to avert the "fiscal cliff" would add nearly $4 trillion to federal deficits over a decade, largely because it would extend low tax rates for almost all Americans.
The congressional scorekeeper's analysis was released as a number of Republicans in the House of Representatives voiced opposition to the bill, and considered amending it with deeper spending cuts.
http://articles.chicagotribune.com/2013-01-01...
Two fairly serious objections to your complaint:

One, do you then SUPPORT RAISING TAXES on the middle class? C'mon, we both know you don't, which makes your post hypocritical and disingenous.

Two, how can an extension of an existing tax but be comsidered as "adding money to existing deficits?" Please explain that, since it is not an additional cut.

ps - didn't the right previously dismiss Democratic claims that tax cuts added to existing deficits? Hmmm?:)

“Stop the Brain Rot”

Since: Jan 12

Take a Looonng Vacation

#49 Jan 2, 2013
Democraps wrote:
<quoted text>
The country has a SPENDING problem. It does not have a revenue problem. But if you want to give them more of your income I'm sure they'll gladly accept, and will keep wildly spending too.
As with most on the right, you don't know what the country's problems even are, so how can we trust you to solve them?

Hint: we're still in the middle of recovering from a massive recession from 2008. Does that help?:)

“Forever Is Promised To No One”

Since: Nov 12

Location hidden

#50 Jan 2, 2013
Fire the GOP wrote:
<quoted text>
They will if you pay your Bush GOP Iraq war debt down instead of passing it down to them.
MONEY'S NO OBJECT: Obama heads back to Hawaii -- at taxpayer cost of $7 million... AND WHO HAS BEEN SAYING THERE WAS NO MONEY FOR BENGHZI SECURITY.

“Forever Is Promised To No One”

Since: Nov 12

Location hidden

#51 Jan 2, 2013
tha Professor wrote:
More far right opinion from the Wank St. Journal, the limp, flaccid Murdoch house 'organ.'
As with other such commentary, it may be safely ignored - although you may feel free to laugh at it for the nonsense it is.:)
What is far right......anything right of Lenin?

Since: Feb 08

Hypoluxo Fl

#52 Jan 2, 2013
La Santa Muerte wrote:
<quoted text>
Ask George Soros.
Moronic non response. Try answering the question. What hold does Norquist have over you frightwingnuts? Are you all so brainwashed you all signed on to his pledge?

“Sharia, NOT!”

Since: Jul 10

Chesapeake, VA

#53 Jan 2, 2013
Stand by the the middle-class see a 2.3% reduction in their next and following paychecks.
Yup, 0'Bama got your back. Just not like you'd hoped for.

Since: Oct 08

Alpharetta, GA

#54 Jan 2, 2013
Did he make it back to Hawaii y et? I bet when he gets there, the lobster will be quivering it it's shells, he and the mrs are known to consume large quantities. Taxpayers can afford it, and the jet fuel to fly that private 747 around the globe every couple of days.

“Forever Is Promised To No One”

Since: Nov 12

Location hidden

#55 Jan 2, 2013
Mykro wrote:
<quoted text>Moronic non response. Try answering the question. What hold does Norquist have over you frightwingnuts? Are you all so brainwashed you all signed on to his pledge?
None, he is just a man wanting lower taxes, which everyone that pays does also. What do you do when the nanny is on vacation.
1 post removed

“Stop the Brain Rot”

Since: Jan 12

Take a Looonng Vacation

#57 Jan 2, 2013
au contraire wrote:
<quoted text>What is far right......anything right of Lenin?
Idiotic question.
Democraps

Miami, FL

#58 Jan 2, 2013
tha Professor wrote:
<quoted text>
As with most on the right, you don't know what the country's problems even are, so how can we trust you to solve them?
Hint: we're still in the middle of recovering from a massive recession from 2008. Does that help?:)
No, it's doesn't help. Spending more to get out of a debt problem is hardly the answer. What was the deficit-spending excuse before the 2008 recession? There's always an excuse.

If you don't see that the country has a spending problem, than you're hopeless.:(

“Stop the Brain Rot”

Since: Jan 12

Take a Looonng Vacation

#59 Jan 2, 2013
Democraps wrote:
<quoted text>
No, it's doesn't help. Spending more to get out of a debt problem is hardly the answer. What was the deficit-spending excuse before the 2008 recession? There's always an excuse.
If you don't see that the country has a spending problem, than you're hopeless.:(
Of course it's the answer - Maynard Keynes knew that in the '20s and '30s, it worked in combatting the Great Depression, it's established economic practice. Cutting taxes and spending and practicing "austerity" is a sure way to make things worse, to take yourself OUT of a recovery. Look at Europe, it's happenign there right now.

Why can't your side understand what's going on? Talk about "hopeless...."
Pamela

Citrus Heights, CA

#60 Jan 2, 2013
Democraps wrote:
<quoted text>
The country has a SPENDING problem. It does not have a revenue problem. But if you want to give them more of your income I'm sure they'll gladly accept, and will keep wildly spending too.
Number one spending item is Medicare, number two is Social Security and number three is military spending. And, those three items use up 80 percent of the federal budget. Which of those three things do you want to make spending cuts to? this is the problem. The "tea party" is old people on SS and on government Medicare who were Dems who got mad that Obama took a lot of money out of their government Medicare, so they voted for the Repubs for the first time hoping that the Repubs would keep SS and Medicare only for them and end it on everyone else and they hoped to end welfare spending in order to fund their social programs, their government pensions and their government health care. The problem was that the Repubs want SS and Medicare ended even more than the Dems do and the big problem is SS and Medicare is where all the debt is. Those two programs have over $122 trillion in unfunded liabilities, and when the 80 million baby boomers go onto SS and Medicare, just SS and Medicare spending will use up 97 percent of the federal budget. Those are liberal programs, social programs, programs that the Democrats created, so for the fake tea party to ONLY be concerned with them getting those things from the government, that makes the tea party socialists and Dems and liberals, and they are the ones who will have to take the spending cuts, obviously. When you get down to facts, to the reality of where the money is being spent, then nobody wants any spending cuts.

It's easy to say "cut spending" until you find out 80 percent of spending is Medicare, SS and military. The tea party wants NO cuts to any of those three things so they are the problem.

Rather than people demand those huge payouts and claim to hate socialism and claim to want spending cuts, why don't people simply deal with the $122 trillion of unfunded liabilities in SS and Medicare and fund the two programs with a national sales tax? If people don't do that, both parties will have to phase out both of those programs in the next five years.

The real reason neither party can stop borrowing money is because neither party wants to be the one that ended SS and Medicare because it would cost them elections so they just keep borrowing money until it goes up to about $20 trillion and then we default. We are paying almost $500 billion per year just on interest on the debt, and the more money we borrow, the higher the interest payment goes. It's one of our biggest spending items now. So the idea that that we won't default and this debt will still exist for our kids to pay off is not realistic.
McGruff

Elizabethtown, KY

#61 Jan 2, 2013
Fire the GOP wrote:
<quoted text>They will if you pay your Bush GOP Iraq war debt down instead of passing it down to them.
what about the other $15.5 trillion?
McGruff

Elizabethtown, KY

#62 Jan 2, 2013
Fire the GOP wrote:
<quoted text>Are you stupid? That 4 trillion Bush GOP is still unpaid for.

Sorry..at least President Obama is looking for ways to pay down the debt. You and your GOP spenders don't want to pay for it period.

Your parents must be related their in redneck country.
in what way is he looking? How? He just increased the debt with this bill.

Since: Dec 06

Location hidden

#63 Jan 2, 2013
Democraps wrote:
Is the entire republican party suffering from arrested development? "Democraps" is something I'd expect from a first grader on the playground.

And they want their opinion to be taken seriously? Grow up, even if only a little, before you come play with the adults.
Pamela

Citrus Heights, CA

#64 Jan 2, 2013
Neither party wants to go down in history as the one that cut SS and Medicare, so they will run the debt up to $25 trillion, then no one will lend us anymore money at that point. And at that point interest payments on the debt will go up from what it is now, which is about $500 billion per year to maybe $1 trillion per year. Once a country hits $1 trillion a year in interest payments, it HAS to default on its debt. There is NO younger generation in any country on this planet that can pay $1 trillion per year in taxes just to pay interest on debt. So, then we default and then we can no longer borrow money, that's when we turn into Greece and then we DO cut SS, Medicare, Medicaid, state and local pensions and welfare. That is how the game will play out because NEITHER party is going to make those cuts now. As long as they can borrow money and hand it out, they will keep doing so.

The cuts to the entitlements and to local and state pensions are a five year process. For example, you saw voters in San Diego limit pensions, and now we see San Bernadino as the first city to declare bankruptcy and be able to get out of its pension contracts. So this will go on with cities and counties over time until entire states have to file for bankruptcy over the pension contracts. Same thing with SS and Medicare. First they raise the retirement age, then the politicians find out everyone is going on SS very early, that did nothing, then they will means test, then means test further, and five years from now it will be vouchers and means tested to the point of being "indigent only." It's a process. They don't dare take this stuff down now even though it is all bankrupt because people would riot so they will chip away at all of it, take it down a bit at a time. That's why they have to keep running the debt up. So in about 5 more years it will be both default on the debt AND the end of the entitlements and huge cuts to state and local pensions and big cuts to welfare programs too.

And, the idea that Obama has one clue what he is doing, yeah right. Anyone can borrow money and default on debt and go bankrupt and do austerity measures. Anyone can do that.

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