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Sun Nov 25, 2012, 12:25 PM

Top GOP Lawmakers Call For Higher Tax Revenues

Source: TPM

Republican lawmakers are increasingly abandoning Grover Norquist’s no-taxes pledge and arguing for raising tax revenues as part of a deal to avoid the severe austerity measures set to take effect in January.

On the Sunday talk shows, Sens. John McCain (R-AZ) and Lindsey Graham (R-SC) called for raising revenues by scaling back tax deductions and credits.

“I would be very much opposed to raising tax rates, but I do believe we can close a lot of loopholes,” McCain said on “Fox News Sunday.” He said that could be achieved by imposing “a limit on the amount of deduction on charitable giving, a limit on the amount you can take on your home loan mortgage deduction.” Graham, who has previously spoken out against Norquist’s pledge, reiterated his position on ABC’s “This Week.”

“I’m willing to generate revenue. It’s fair to ask my party to put revenue on the table. We’re below historic averages,” he said. “I will not raise tax rates to do it. I will cap deductions. If you cap deductions around the $30,000, $40,000 range, you can raise $1 trillion in revenue, and the people who lose their deductions are the upper-income Americans.”

“When you’re $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming Greece, and Republicans should put revenue on the table. We’re this far in debt. We don’t generate enough revenue,” the senator said. “I agree with Grover, we shouldn’t raise rates, but I think Grover is wrong when it comes to we can’t cap deductions and buy down debt.”

-snip-

Read more: http://tpmdc.talkingpointsmemo.com/2012/11/chambliss-mccain-graham-tax-revenues.php?ref=fpa

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Reply Top GOP Lawmakers Call For Higher Tax Revenues (Original post)
DonViejo Nov 2012 OP
IllinoisBirdWatcher Nov 2012 #1
cyclezealot Nov 2012 #5
freshwest Nov 2012 #13
notadmblnd Nov 2012 #2
PSPS Nov 2012 #3
AgingAmerican Nov 2012 #4
John2 Nov 2012 #6
LoisB Nov 2012 #7
valerief Nov 2012 #8
David__77 Nov 2012 #15
valerief Nov 2012 #17
David__77 Nov 2012 #18
bucolic_frolic Nov 2012 #9
go west young man Nov 2012 #10
LoisB Nov 2012 #12
AAO Nov 2012 #11
meow2u3 Nov 2012 #14
Andy823 Nov 2012 #16
ballaratocker Nov 2012 #19
Angry Dragon Nov 2012 #20

Response to DonViejo (Original post)

Sun Nov 25, 2012, 12:33 PM

1. McShame and Little Lindsey Graham tout the $Rmoney Plan

GEE, what a novel idea. Cap deductions at $30,00 to $40,000. Where have we heard that before?

Just as McShame was soundly defeated in 2008, so was $Rmoney in 2012. American citizens voted overwhelmingly FOR raising the tax rate on the top 2%. They voted AGAINST the $Rmoney plan which included capping deductions.

In large metro areas (New York, Chicago, most of California) where home prices, home mortgage interest, and property taxes are sky high, such a cap would hit many middle class Americans. Such a cap would cripple charities.

It is amazing how repugnant pontificators continue to disguise the $Rmoney-Ryan plan as something new.

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Response to IllinoisBirdWatcher (Reply #1)

Sun Nov 25, 2012, 01:04 PM

5. Yes. Same old M$ttens tax dodge.

We darn will know there are few tax deductions left and a Republican favorite would hit the Middle Income groupings by denying them their interest deductions paid to banks for home loans. No thanks.

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Response to cyclezealot (Reply #5)

Sun Nov 25, 2012, 03:57 PM

13. +1,000 to what you said.

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Response to DonViejo (Original post)

Sun Nov 25, 2012, 12:47 PM

2. I could swear he also said; "As long as entitlement reform is also on the table"

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Response to DonViejo (Original post)

Sun Nov 25, 2012, 12:59 PM

3. LOL. The "home mortgage interest deduction limit" trick again.

The wealthy don't "do" mortgages. They pay for their houses in cash. Such a "limit" wouldn't affect them at all. You can dismiss anyone who proposes any scheme that doesn't substantially raise the top marginal rate as unserious.

All of this over a measly 3% increase in taxes that only applies to income over an amount that over 98% of Americans will never see in their lifetimes. Give me a break. These people should be thankful the top rate isn't triple what it is now (like when their Saint Ronnie was president) and that their lifeless bodies aren't swinging from lamp posts in the town square.

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Response to DonViejo (Original post)

Sun Nov 25, 2012, 01:04 PM

4. Raise the rates

Screw Norquist and screw the GOP.

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Response to DonViejo (Original post)

Sun Nov 25, 2012, 01:17 PM

6. They are

 

speaking to people who they think are not as educated as them. More voters are becoming very smart. They know when they are being swindled or conned. We heard the same arguments in the election over and over again. We made a decision and President Obama won, based on his pledges. That is the reason Romney loss. Did the Republicans get the message or do they have Romnesia?

It looks like they have to learn the hard way. I'm willing to go over the cliff to get the message through. They also keep bringing up entitlements and now are trying to add Obamacare to the discussion. It seems like a co-ordinated strategy on their part to me, to go around the back door of the election just like that guy in Ohio (Husted). They also want get off the Benghazi trip. The only people bringing it up are their extreme rightwing supporters. The Press has yet to attach names to those 97 republican Congress people, who wrote a letter to President Obama. Many of those names are people like Michelle Bachman and Allen West. Once the Press attach names, then the public will see right through their agenda. This is how the Press puts their influence into Politics. They edit or with hold certain information.

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Response to DonViejo (Original post)

Sun Nov 25, 2012, 01:38 PM

7. I call b.s. on "capping deductions". Hit the middle class on mortgage interest, medical, state and

local income taxes is what they mean by "capping deductions".

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Response to DonViejo (Original post)

Sun Nov 25, 2012, 01:45 PM

8. 40 grand is upper income?

If you cap deductions around the $30,000, $40,000 range, you can raise $1 trillion in revenue, and the people who lose their deductions are the upper-income Americans.”

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Response to valerief (Reply #8)

Sun Nov 25, 2012, 04:39 PM

15. I think he meant that the deduction would be limited to that.

Anything over, say, $40,000 in standard or other deductions would be considered taxable.

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Response to David__77 (Reply #15)

Sun Nov 25, 2012, 05:04 PM

17. Duh. Oh, thanks. I'm a knucklehead. nt

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Response to valerief (Reply #17)

Sun Nov 25, 2012, 05:10 PM

18. Not at all! If so, we all are.

I misread things constantly.

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Response to DonViejo (Original post)

Sun Nov 25, 2012, 01:50 PM

9. GOP Ideological Lies

All I hear is that raising income tax rates will decrease jobs.

Why not raise rates and put some incentive for the wealthy to
work harder into the tax rates?

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Response to DonViejo (Original post)

Sun Nov 25, 2012, 02:02 PM

10. These two are like the Amos and Andy show every Sunday

and it has definitely gotten old. When is the media going to wake up to the fact that these two charlatans succubus opportunists are always wrong about everything? No one takes them seriously anymore. Once again the media is complicit in propagating bullshit. Get Alan Grayson on or some people with real spine.

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Response to go west young man (Reply #10)

Sun Nov 25, 2012, 03:06 PM

12. The old Amos 'n Andy radio show was at least funny - nothing funny about these two.

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Response to DonViejo (Original post)

Sun Nov 25, 2012, 02:29 PM

11. Dumbasses. Not aware that tax rates will go up if we do nothing.

 

They have nothing to say about it.

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Response to DonViejo (Original post)

Sun Nov 25, 2012, 04:13 PM

14. Translation: GOP wants to soak the poor and middle class out of their last dollar

They wouldn't dare tax the rich. That's how they roll, no matter what they tell you.

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Response to DonViejo (Original post)

Sun Nov 25, 2012, 04:53 PM

16. Do both

Let the Bush tax cuts for those making over $25,000 end, and fix the tax laws, loopholes, and deductions. Then let's put some cuts on so called entitlements, like tax breaks and subsidies for big oil companies, subsidies for big corporate farms, and any other "corporate" welfare that tax dollars have been going to over the years to make the rich richer!

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Response to DonViejo (Original post)

Sun Nov 25, 2012, 05:55 PM

19. This is what moderation looks like?

They are basically saying 'we want to make things fairer by not allowing the top 1% to use SOME accounting tricks to avoid their responsibilities. Are we not merciful?' And this is being reported as the middle road? Shows how screwy things are.

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Response to DonViejo (Original post)

Mon Nov 26, 2012, 12:45 AM

20. let the tax rates go to the level before Raygun

and close loopholes

and if they say they can not do that because it will hurt the job creators then they have to have the job creators sign a pledge to create x-amount of jobs paying $20/hour plus full benefits

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