In the discussion thread: Obama sees fiscal deal in a week if Republicans move on taxes [View all]
Response to TomCADem (Original post)
Thu Dec 6, 2012, 01:19 AM
Tigress DEM (7,848 posts)
11. Obama's deal is on the table and he's got entitlement reform and spending cuts already...
The $250,000 line for taxes going up is part of the BALANCE needed.
What rethugs offered isn't much more (Bohner's deal) but it comes from different directions and isn't "surgical" cuts that eliminate waste and target areas of real reform instead of just throwing money at rich people and hoping it bounces back.
"they can accept some rate increases as long as it's combined with serious entitlement reform and additional spending cuts"
The rethug deal has 1.1 trillion in entitlement cuts and 800 billion in new revenue (over 10 years) where as Obama is kind of a mirror opposite $1.6 trillion in new revenues, achieved in part by letting the Bush-era tax cuts expire for the wealthiest Americans, as well as $600 billion in spending cuts and a handful of other measures.
SO.... there may be some play in the area above the $250,000 line as far as what "rates" the top earners get taxed at that brings that $1.6 trillion down to $1.3 for instance and maybe some additional cuts in spending, but nothing anywhere near the cuts that would happen if we got cut across the board with no agreement reached.
Tonight on the Ed Schultz show the Republican leadership is talking about working through the Holidays to reach an agreement. THEY don't want to go home and raise taxes on 98% of their constituents or make huge cuts in defense that they have to explain and polling is showing that the rethugs would take the political heat for sure.
Obama is giving them a way to save face, and a little wiggle room, but he isn't caving in or letting the rethugs frame the debate.
Better the occassional faults of a Government that lives in a spirit of charity than the constant omission of a Government frozen in the ice of its own indifference. FDR
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Obama's deal is on the table and he's got entitlement reform and spending cuts already...
|Tigress DEM||Dec 2012||#11|
|woo me with science||Dec 2012||#20|
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