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The More Tax Cuts For The Rich Commission

Krugman:

[H[ow, exactly, did a deficit-cutting commission become a commission whose first priority is cutting tax rates [. . .]?

[. . . W]hat the co-chairmen are proposing is a mixture of tax cuts and tax increases — tax cuts for the wealthy, tax increases for the middle class. They suggest eliminating tax breaks that, whatever you think of them, matter a lot to middle-class Americans — the deductibility of health benefits and mortgage interest — and using much of the revenue gained thereby, not to reduce the deficit, but to allow sharp reductions in both the top marginal tax rate and in the corporate tax rate.

[. . . T]his proposal clearly represents a major transfer of income upward, from the middle class to a small minority of wealthy Americans. And what does any of this have to do with deficit reduction? [. . . C]an’t we say that for all its flaws, the Bowles-Simpson proposal is a serious effort to tackle the nation’s long-run fiscal problem? No, we can’t. [. . .] It’s no mystery what has happened on the deficit commission: as so often happens in modern Washington, a process meant to deal with real problems has been hijacked on behalf of an ideological agenda. Under the guise of facing our fiscal problems, Mr. Bowles and Mr. Simpson are trying to smuggle in the same old, same old — tax cuts for the rich and erosion of the social safety net.

(Emphasis supplied.) Yep. Speaking for me only

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  • Display: Sort:
    Obama signals that he is 100% on (5.00 / 1) (#2)
    by observed on Fri Nov 12, 2010 at 07:23:15 AM EST
    board in remarks in Korea, while our completely incompetent press reports that Obama says "no" to extension of tax cuts.

    Don't even bother


     President Barack Obama declared Friday that his "number one priority" is preserving tax cuts for the middle class, and sharply denied that comments by his senior adviser David Axelrod suggest that his administration is about to cave in to Republicans who also want to extend the Bush tax cuts for the wealthy.

    "That is the wrong interpretation because I haven't had a conversation with Democratic and Republican leaders,"

    Oh, that's real emphatic.. I'm not saying yes, because we didn't have a "conversation" yet.


    "Here's the right interpretation -- I want to make sure that taxes don't go up for middle class families starting on January 1st," Obama said at a news conference at the conclusion of the G-20 Summit here. "That is my number one priority for those families and for our economy. I also believe that it would be fiscally irresponsible for us to permanently extend the high income tax cuts.

    Uh-huh. Obama is not even a competent BS-er, but he gets free pass after free pass.

    Obama wants to extend the tax cuts for the rich---clearly. After all, he's going to be rich in a few years.


    There's that word again... (5.00 / 1) (#8)
    by masslib on Fri Nov 12, 2010 at 07:34:37 AM EST
    "Permanent".  Obama's been reframing the tax debate around that word for weeks.  Even Republicans didn't make those cuts when they had the chance. That's why they are set to sunset.  I love how he's trying to cast himself as middleclass hero here while signing on to mega breaks for the wealthy.

    Parent
    Obama is your hero. He won't cut (5.00 / 1) (#10)
    by observed on Fri Nov 12, 2010 at 07:43:06 AM EST
    SS and cut Medicare without notifying you first.


    Parent
    Heh. (none / 0) (#13)
    by masslib on Fri Nov 12, 2010 at 07:45:33 AM EST
    Too true.

    Parent
    Exactly (none / 0) (#16)
    by Yman on Fri Nov 12, 2010 at 08:02:58 AM EST
    I haven't seen anyone in the MSM comment on his repeated use of the qualifier "permanent" every time he mildly objects to the extension of the tax cuts.  Combined with his overtures to seek a middle ground with Republicans (or even standing alone), it's obvious what he's going to do.  Extend the upper income tax cuts for some defined period and declare victory because it wasn't "permanent".

    Ugggghhh...

    Parent

    Which they were not to begin with. (5.00 / 1) (#17)
    by masslib on Fri Nov 12, 2010 at 08:04:53 AM EST
    If Republicans wrote them to sunset, why on earth should we be relieved that the Democrats would also write them to sunset?  

    Parent
    Wait for it (5.00 / 1) (#20)
    by MO Blue on Fri Nov 12, 2010 at 08:14:07 AM EST
    Obama will find a way to negotiate with himself to make them permanent.

    Parent
    No, that's not going to happen. (none / 0) (#22)
    by masslib on Fri Nov 12, 2010 at 08:18:10 AM EST
    I wouldn't bet against it (none / 0) (#25)
    by MO Blue on Fri Nov 12, 2010 at 08:23:33 AM EST
    if I were you.

    The GOP insists (none / 0) (#9)
    by Big Tent Democrat on Fri Nov 12, 2010 at 07:09:54 AM CST
    that they be permanent.

    They will prevail.



    Parent
    He's helping Obama out. (none / 0) (#29)
    by masslib on Fri Nov 12, 2010 at 08:26:13 AM EST
    Haven't you been listening to Obama?  He's already changed the debate from not extending the tax cuts to not making them permanent.  A Republican Congress and a Republican President wrote them to sunset, you really think the Democrats are going to make them permanent?  Come on.  That's not going to happen.

    Parent
    no (none / 0) (#27)
    by Capt Howdy on Fri Nov 12, 2010 at 08:24:50 AM EST
    they will extend them for a couple of years.

    and then they will extend them for another couple of years.

    rinse, repeat.


    Parent

    Exactly. (none / 0) (#30)
    by masslib on Fri Nov 12, 2010 at 08:27:07 AM EST
    End of story.

    Parent
    and the difference between that (5.00 / 1) (#31)
    by Capt Howdy on Fri Nov 12, 2010 at 08:31:34 AM EST
    and permanent would be . . .  .

    Parent
    Semantics. (none / 0) (#32)
    by masslib on Fri Nov 12, 2010 at 08:34:58 AM EST
    It allows Obama to claim victory by not makinf the tax cuts permanent.  Plus, it allows Congress to eventually allow those cuts to sunset without actually passing a tax increase.

    Parent
    um (none / 0) (#33)
    by Capt Howdy on Fri Nov 12, 2010 at 08:37:32 AM EST
    brilliant.  I guess.

    Parent
    They were written to sunset not (5.00 / 1) (#36)
    by Anne on Fri Nov 12, 2010 at 09:01:49 AM EST
    because that's what the GOP necessarily wanted, but because the Act was passed under reconciliation, and had to avoid the Byrd Rule that would allow the legislation to be blocked if it had significant impact on the budget beyond a ten-year period.

    Parent
    I know that. (none / 0) (#37)
    by masslib on Fri Nov 12, 2010 at 09:09:02 AM EST
    But honestly it is ludicrous to think that what could be done under Republicans is going to be done under Democrats re: these tax cuts.  It's not on the table and it is not going to happen.  

    Parent
    Did the Dems eliminate their ability (none / 0) (#38)
    by MO Blue on Fri Nov 12, 2010 at 09:25:17 AM EST
    to use reconciliation during the lame duck session? If not, why can't the Dems use reconciliation to pass only the middle class tax cuts and just let the  cuts for the wealthy expire?

    Parent
    And FWIW (none / 0) (#44)
    by gyrfalcon on Fri Nov 12, 2010 at 04:20:48 PM EST
    I've heard numerous MSMers, starting with Matthews, harp on his clever use of the word "permanent."

    Parent
    "conversation" (none / 0) (#42)
    by cal1942 on Fri Nov 12, 2010 at 12:49:05 PM EST
    GEEZUZ.

    You have to talk to the "leaders" before you make up your mind on that issue.  The issue has been with us for a very long time.

    Just who was actually behind Congress not taking this up BEFORE the elections.  

    He sounds like the coach who, when asked if he's going to leave for greener pastures, says 'I haven't talked with those other people yet.'

    And then there's that bi-partisan bullsh!t again. He's going to talk to Republicans.  Like he doesn't know what they'll say or do.

    Obama insults our intelligence.

    Parent

    it is stunning to me (5.00 / 2) (#3)
    by Capt Howdy on Fri Nov 12, 2010 at 07:26:07 AM EST
    that on shows like morning joe (which is considered pretty middle of the road for cable news) that the wisdom of extending the Bush tax cuts AND the necessity to cut social security and medicaid to lower the debt are being discussed in the same segment with a straight face.

    this would not have happened even a couple of years ago.

    Drip, drip, drip (none / 0) (#43)
    by cal1942 on Fri Nov 12, 2010 at 12:53:35 PM EST
    Little by little the unthinkable becomes possible.

    The biggest drip of all was the Obama nomination.  

    Parent

    Looks like Greenspan's 30 year (5.00 / 2) (#5)
    by observed on Fri Nov 12, 2010 at 07:27:55 AM EST
    plan for a trillions of dollars heist from the poor to the rich  will be pulled off, after all.


    Reverse Robin Hood... (5.00 / 1) (#11)
    by kdog on Fri Nov 12, 2010 at 07:44:20 AM EST
    It's a self-loathing middle and working class that votes for Dems or Repubs...we hate ourselves for not being Thurston Howell III I guess, only way to explain our votes the last 30 years...that or we are as dumb as D's and R's think we are.

    Parent
    A little less loathing (none / 0) (#40)
    by DancingOpossum on Fri Nov 12, 2010 at 11:03:06 AM EST
    I think the midterms showed that the people are starting to lose a little of that loathing--or unloading it from themselves onto the more deserving targets. I just wish more of them had chosen third-party voting, but I did convince a handful of folks to do that (they didn't vote for my third party but I dont' give a hoot. Any way the duopoly goes down is fine by me).

    Parent
    Fine by me too... (none / 0) (#41)
    by kdog on Fri Nov 12, 2010 at 11:42:52 AM EST
    the duopoly has gotta go, any monkeywrench will do.

    Not sure if I agree with your hypothesis about the midterms...the Repubs cleaned up.  Joe Tea Party is unloading his self-loathing on undeserving targets...immigrants, homosexuals, criminals...same old same old kick the dog syndrome.  I think we talk a good game about reigning in the bankers and Wall St. bankers, but deep down everybody is afraid of a world that doesn't cater to bankers and brokers...why I couldn't tell ya, its a mystery.  Maybe cuz it's all we've ever known....we haven't seen the days of the middle and working classes putting a scare into the bastards since the 30's.

    Parent

    watching tv this morning (5.00 / 2) (#14)
    by Capt Howdy on Fri Nov 12, 2010 at 07:46:21 AM EST
    I couldnt help thinking about something someone said yesterday about how this feels just like the run up to the Iraq war.

    I feel the same total disconnect from reality coming from the village I felt then.

    It's a "Bold" proposal (none / 0) (#39)
    by mm on Fri Nov 12, 2010 at 10:26:56 AM EST
    Yes,i am getting the same feeling. Count how many times you hear it referred to as a "Bold" proposal

    Parent
    Krugman's bottom line (none / 0) (#1)
    by MO Blue on Fri Nov 12, 2010 at 07:19:56 AM EST
    Can anything be salvaged from this wreck? I doubt it. The deficit commission should be told to fold its tents and go away.


    this is not going to happen. (none / 0) (#4)
    by Capt Howdy on Fri Nov 12, 2010 at 07:27:01 AM EST
    at least if the village has anything to say about it.  it is being pushed a the shining new middle way.


    Parent
    Your are right about that (none / 0) (#6)
    by MO Blue on Fri Nov 12, 2010 at 07:31:48 AM EST
    All I read is how Obama must move to the center. The center of what for gawd's sake? The center of the two most conservative Republican politicians must be what they are talking about because there is no way any of his positions have been anything other than right of center.

    Parent
    The rich (none / 0) (#7)
    by Chuck0 on Fri Nov 12, 2010 at 07:33:23 AM EST
    are a minority in this country. They must be protected.

    The best minority protection (none / 0) (#9)
    by MO Blue on Fri Nov 12, 2010 at 07:40:17 AM EST
    initiative the country has ever undertaken. More extremely generous welfare provisions coming soon.  

    Parent
    like Colbert said (none / 0) (#12)
    by Capt Howdy on Fri Nov 12, 2010 at 07:44:57 AM EST
    not extending the tax cuts for only the rich is nothing but profiling

    Parent
    What's missing is an honest (none / 0) (#15)
    by observed on Fri Nov 12, 2010 at 07:54:30 AM EST
    discussion of the impact of military spending.
    A country cannot be an imperial power AND spend money on domestic social welfare programs.
    Britain learned this; Israel can barely survive this problem even with massive US monetary aid.
    Our military expenditures are killing EVERYONE.


    Don't forget the law enforcement.. (none / 0) (#18)
    by kdog on Fri Nov 12, 2010 at 08:05:25 AM EST
    and incarceration spending...having the largest prison population of any "civilized" nation in the world is also killing us, economically and in regards to human rights.

    Cue broken record calling for radical and revolutionary reprioritization of spending!  

    Parent

    Correctamundo senor. (none / 0) (#23)
    by Chuck0 on Fri Nov 12, 2010 at 08:18:40 AM EST
    The US solution to every social ill (real or imagined) is criminalization and incarceration. Look at California's budget deficit. That three strikes law and the CO's union is really working out well for them.

    And remember Michigan's draconian drug sentencing laws awhile back? Cooler heads finally prevailed when they realized the financial repercussions. I think John Engler repealed them in 2002.

    Parent

    Shame it takes... (none / 0) (#28)
    by kdog on Fri Nov 12, 2010 at 08:25:48 AM EST
    an empty wallet to see the err and evil of it, but whatever works.

    Though who knows...old people may fear the dope man more than they fear eating catfood...ya really can't call the citizenry logical.

    Parent

    I think they do (none / 0) (#34)
    by Rojas on Fri Nov 12, 2010 at 08:41:44 AM EST
    But it's not fear, It's empowerment. These people are just as whacked as any closet F'ing Baptist...Just look around.

    Parent
    the CFC (none / 0) (#19)
    by Capt Howdy on Fri Nov 12, 2010 at 08:07:25 AM EST
    has some pretty serious cuts in pentagon spending

    Parent
    And is anyone seriously discussing (none / 0) (#21)
    by observed on Fri Nov 12, 2010 at 08:16:57 AM EST
    those? My take is that "serious" people will not touch a discussion of military spending cuts.

    Parent
    CFC? (none / 0) (#24)
    by NYShooter on Fri Nov 12, 2010 at 08:19:02 AM EST
    Chlorofluorocarbons?

    Connecticut football club?

    What?


    Parent

    CatFoodCommission (none / 0) (#26)
    by Capt Howdy on Fri Nov 12, 2010 at 08:23:45 AM EST
    I just signed up for Medicare (5.00 / 1) (#35)
    by NYShooter on Fri Nov 12, 2010 at 08:54:09 AM EST
    talk slow....

    Parent