Analysis: Taxes on table in future debt debate

WASHINGTON — Democrats seeking to use the next phase of deficit-reduction talks to raise taxes for private equity managers, oil companies and high-income earners will face continued opposition from Republicans who will have the procedural power to stop them.

The debt-limit bill signed into law today empowers a 12-member committee of lawmakers to seek $1.5 trillion in deficit cuts, with a Dec. 23 deadline for congressional action. Democrats, who didn't get any revenue increases in the debt ceiling compromise Congress is considering, are likely to return to their previous proposals, said Rep. Chris Van Hollen of Maryland, the top Democrat on the House Budget Committee.

"It has to be done in a balanced fashion," Van Hollen told reporters. "It has to include closing these corporate tax loopholes for special interests and looking at other revenue sources from the very top income earners."

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"It really just becomes an issue of defense vs. high- income," said Chuck Marr, director of federal tax policy at the Center on Budget and Policy Priorities, a Washington research group that favors programs to assist low-income individuals.

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In other words the GOP is fucked - if they oppose tax increases, they will get massive defense cuts in return.

checkmate

yup

Republican Senate leader Mitch McConnell says that the super committee will “certainly deal with major entitlement reforms,” even as he reassured conservatives that they should not worry about tax hikes, telling a Fox News reporter that the likelihood of tax hikes coming out of the committee is “pretty low.”

again

checkmate

yup

defense cuts, it is rewritten to included SECURITY. You know like TSA and not the Pentagon.

but then again they are the terrorists in this crisis - not Obama

and not the Democratic Party

yup

I don't see this ending well for Democrats.

don't you get?

sad sack fail

yup

Past is...prologue.

yup

Yup

let alone a African-American president

hee hee

:hi:

Alas that is what he (and the third way) want. Past behavior is predictive of future behavior, yup.

The Teabaggers voted to raise the debt ceiling

and they got screwed in the bargain

the way I see it

Surprises. He lost nothing..he WANTED this, my IMHO. They want an age of austerity. And they want to screw us over.

From neighbors... It is not worth voting again...it pleinly is not. And when people come to thst conclussions... Well the .

And more hostage dramas are coming. When it works, and it works,,, they'll keep doing this.

the narrative is inconsistent here

Alas at this point I have to conclude he WANTED this crisis, and we are truly screwed.

It goes beyond disaster capitalism, though it is ab importabt part of the explanation.

I will vote, but it dob't make a tinker's damn of a difference... Elites don't care and won't until we wake up and do something about it... But more histage crisis are coming, more fake crisis. Only way to push a very unpopular agenda.

He did not - it was the Tea Party that wanted this all along.

and Obama did not deliver unto them IMHO

And two weeks ago this could have been over when McConnell surrendered and he didn't accept the clean bill.

but you are right - they both surrendered

Did.not dream that...but whatever. At this point I expect the less than 20% majority to continue to control the debate and ges it's agenda through. It don't matter t they don't even control one chamber of congress. That is the truth...

:hi:

From TPM. http://tpmdc.talkingpointsmemo.com/2011/07/reid-offers-to-give-up-clean-debt-limit-hike-in-mcconnell-plan.php

and I remember that

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1643894

Historians will not be kind to this President... no way, no how.

You thought they went after Carter, just wait

He wants this... just to chicken shit to tell us this.

"And so my expectation is, is that we will have tough negotiations around the budget, but that ultimately we can arrive at a position that is keeping the government open, keeping Social Security checks going out, keeping veterans services being provided, but at the same time is prudent when it comes to taxpayer dollars..."

he either is not suave enough to believe one will come... or he wants it. Either way... not good... and historians will not look kindly at this presidency... at least not the last six months,

And the R word is now being used by economists. Austerity... we may have to start using the D word... Hoover is reviled to this day.

Was he being disingenuous?

he knows we are up to it now.

n/t

who are thinking of NOT voting... reliable Democratic voters... poof!

n/t

or the coming depression? Which exactly? People feel very betrayed and let down.

I'll be voting, but it don't make a tinker's damn of a difference. I need to keep in practice though...

But yes, people in REAL LIFE are not happy... and all that hope and change is gone...

They've shown an uncanny ability to do that time and again over the past decade or so.

They're morans

yup

They've managed to hamstring a government entirely controlled by Democrats, and push forward their agenda quite effectively. I never underestimate anybody, especially when they've got that kind of record.

the first step is the un-elect republicans.

n/t

The Pentagon is going to be fine. So far, they are being cut 50 billion LESS than they were scheduled to be cut.

After Months of Partisan Wrangling, Wall Street & Pentagon Emerge Victorious on Debt Deal

http://www.democracynow.org/2011/8/2/after_months_of_partisan_wrangling_wall

http://www.cbc.ca/news/world/story/2011/08/02/debt-deal-vote.html

yup

EVERYTHING on the table: http://www.kaiserhealthnews.org/Daily-Reports/2011/August/02/super-committee.aspx

FYI

yup

series