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Tue Nov 20, 2012, 10:14 PM

GOLDMAN: Obama Will End Up Extracting A Little More Than $800 Billion From The Rich

GOLDMAN: Obama Will End Up Extracting A Little More Than $800 Billion From The Rich

by Rob Wile at Business Insider

http://www.businessinsider.com/goldman-sachs-on-obama-taxes-for-wealthy-2012-11

"SNIP.............................................


Of course, President Obama is unlikely to run the table on getting each of these passed.

So here's what Phillips thinks will really happen:

The agreement that policymakers will (hopefully) reach before year end seems likely to involve an increase in tax rates from current levels and it could also involve a limitation in tax preferences. Our fiscal assumptions for 2013 include a tax increase equivalent to allowing the upper income tax cuts to expire. This amount--$56bn in 2013 and a little more than $800bn over ten years--is halfway between the President's proposals and what Republicans would prefer.

The White House seems likely to succeed in raising at least this much revenue, though it remains to be seen whether it will come in one agreement at year-end, or a two-stage process involving a debate on more comprehensive tax reform next year.



............................................SNIP"

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Reply GOLDMAN: Obama Will End Up Extracting A Little More Than $800 Billion From The Rich (Original post)
applegrove Nov 2012 OP
benld74 Nov 2012 #1
Auntie Bush Nov 2012 #2
mucifer Nov 2012 #3
moondust Nov 2012 #4
msongs Nov 2012 #5

Response to applegrove (Original post)

Tue Nov 20, 2012, 10:17 PM

1. I can recall the Rethugs beginning small as well,,,,,

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Response to applegrove (Original post)

Tue Nov 20, 2012, 10:19 PM

2. Hey Goldman...Would you rather that we extract $800 Billion from the poor and middle class?

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Response to Auntie Bush (Reply #2)

Tue Nov 20, 2012, 10:21 PM

3. Their answer, of course, would be "hell yeah!"

Their guy lost the election so lets hope we get more than 800 billion.

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Response to applegrove (Original post)

Tue Nov 20, 2012, 10:26 PM

4. A fraction of what the rich have extracted from everybody else, no?

It'll make a good down payment.

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Response to applegrove (Original post)

Tue Nov 20, 2012, 10:27 PM

5. unlikely to "run the table" or unlikely to try nt

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