Fri Nov 30, 2012, 08:13 AM
marmar (69,333 posts)
Robert Reich: Opening Positions on the Cliff Deal: Deja Vu All Over Again
Opening Positions on the Cliff Deal: Deja Vu All Over Again
Thursday, November 29, 2012
So the bidding has begun.
According to the Wall Street Journal (which got the information from GOP leaders), the Presidentís opening bid to Republicans is:
ó $1.6 trillion in additional tax revenues over the next decade, from limiting tax deductions on the wealthy and raising tax rates on incomes over $250,000 (although those rates donít have to rise as high as the top marginal rates under Bill Clinton)
The $50 billion in added stimulus is welcome. We need more spending in the short term in order to keep the recovery going, particularly in light of economic contractions in Europe and Japan, and slowdowns in China and India.
But by signaling its willingness not to raise top rates as high as they were under Clinton and to cut some $400 billion from projected increases in Medicare and other entitlement spending, the White House has ceded important ground. ......................(more)
The complete piece is at: http://robertreich.org/post/36839197826
6 replies, 840 views
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Robert Reich: Opening Positions on the Cliff Deal: Deja Vu All Over Again (Original post)
|Faryn Balyncd||Nov 2012||#5|
Response to marmar (Original post)
Fri Nov 30, 2012, 08:34 AM
ProSense (116,464 posts)
1. Reich needs to stop reading the WSJ if
he can't cut through unsubstantiated bullshit claims. The WSJ is shilling for the GOP, pushing a meme, and Reich focuses on the silliest claim in the piece.
The White House formally proposes to increase tax revenues by $1.6 trillion over 10 years by increasing top marginal income tax rates and taxes on both capital gains and dividends, and by limiting tax deductions for top earners, according to Republicans.
Obama to GOP: Iím done negotiating with myself
Republicans have no friggin leverage.
Response to ProSense (Reply #1)
Mon Dec 3, 2012, 03:40 PM
grahamhgreen (15,515 posts)
6. As a President who won with a mandate, he does not have to give away anything. Revenues only
is a better starting position.
In fact, we're better off calling the R's Fiscal Bluff, and negotiating afterwards.