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Posts Tagged ‘Taxes’

Stopping at the Cliff

Well after much kicking and screaming, the GOP figured it really had to let higher taxes hit the rich and it’s about time. I’m not big on increasing anyone’s taxes, but taxes today are at a very low level for the rich and we have bills to pay. I like this graph the most:

Rich Tax Rates

What would the GOP say at a 91% top tax rate like in the 60s? (Yea, that’s too high)

One of the best comments during this mess was from Norquist via Twitter:

The Bush tax cuts lapsed at midnight last night. Every R voting for Senate bill is cutting taxes and keeping his/her pledge.

Man talk about a lot of BS.

So if everyone would have voted at 11:59 it’s not OK but at 12:01 it’s OK, even though the effect is the same. Grover is just trying to bend over backwards to keep his hold on the GOP and it should show the mindset of these folks and why nothing can get done in DC.

It’s a start. Spending needs to be cut for sure and taxes might even have to be raised more over time. I have to laugh at another quote from Grover:

When the Dems wake up they will realize they just made most of the Bush tax cuts permanent and lost their leverage for the next 4 years.

Really, it’s not like taxes can’t raise more. I think there is room.

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GOP Caves on Payroll Tax

If you follow politics the only question you can ask is: Why?

Why did the GOP House feel the need to push for a 1 year extension of the payroll tax?

Clearly the Dems had time on their side. The Senate side of the GOP was even tossing bombs at their brothers\sisters on the House side for not passing the 2 month extension and move on.

So, trying to read between the lines a bit, what does this show?

1) The Tea Party still hasn’t figured out how to fit in.

Just like folks who follow Religion, they stand on their principles based on faith that they are right and making a deal (any deal) is selling yourself short. Sometimes that’s OK. However, it usually means you are not going to get out of the way of the moving car when it’s speeding at you.

In the real world, there is give and take. Even more so in Politics. The Senate side of the GOP (who have 6 year terms and are less affected by the Tea Party) could see the car coming and was shouting for the House to get out of the way. Now they are all effected by the wreck.

2) Boehner can’t control the house.

If it wasn’t clear before, it’s clear now.

Boehner didn’t get to this position without knowing a train wreck when he sees one. The Tea Party just won’t follow the GOP leadership. So Boehner was stuck with either following the Tea Party or having the GOP looking like a house divided to the public. In the end, Boehner made the choice that fighting this and losing looks better than giving the GOP the image of fighting among themselves.

It’s clear to me that Barack Obama needs to win back the White House. He’s a weak President to be sure, but the best way for this country to get back on track is to pry the GOP away from the crazy folk and that’s the Tea Party and Religion. That’s only going to start happening if they lose to a weak President in a bad economy.

There’s a darn good reason that Bob Dole and George H W Bush support Romney, they are trying to move the GOP closer to the center as it was during Reagan’s time.

The issue clearly is the rank and file of the GOP has moved away from the center position. It’s going to take the GOP getting its butt kicked for them to start to see that their base is not going to carry them forward in the future.

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The GOP and Taxes

The GOP is just Crazy

*Sigh* I really need to get off my butt and switch parties. The GOP is just bat-shit crazy.

So the GOP is making a firm push to make the Bush Taxes cuts permanent. This will add 3.7 Trillion to the deficit over 10 years.

How the hell does that make sense? Neither of these two sides wants to cut spending. The GOP loves spending on the military and the Dems on their social programs. Why are we making the hole we have dug ourselves bigger?

The bottom line is, the GOP thinks if we cut taxes low enough that somehow all the Dems social programs will go away, but magically what they like to spend will mostly stay the same.

Just crazy.

In the meantime you have millonaires asking for their taxes to be raised.

Now some of that is politics of course, but if Warren Buffett is saying to raise the rich’s taxes you have a long fight to convince me otherwise.

The GOP has taken their ideas too far.