It's the Tax Revenue, Stupid

[Lasher]

Call it the "Seriousness Test." Any so-called deficit hawk that refuses to countenance increasing federal taxes simply isn't serious. After all, as the CBO concluded in January, with tax revenues now below 15%, "levels that low have not been seen since 1950." The two-year tax cut compromise in December made matters worse, adding $400 billion to the deficit this year and next. And measured as a percentage of GDP, corporate profits are near their highest point in the last thirty years, while corporate tax revenue is at its lowest since Truman was in the White House.

Nevertheless, as Tuesday's glowing Washington Post profile of the Senate's "Gang of Six" deficit cutters made clear, for Republicans everything is on the table - except, that is, raising taxes.



Like the Bowles-Simpson deficit commission established by President Obama, the bipartisan group is nearing a proposal to "cut the federal budget deficit by $4 trillion over 10 years, roughly four times the savings the White House proposed in February." Virginian Mark Warner, its Democratic ring-leader warned of fiscal ruin "unless Congress and the White House come together in support of highly unpopular measures such as raising taxes and overhauling Social Security and Medicare." His Republican counterpart, Saxby Chambliss (R-GA), agreed that "Everything is on the table."

Well, not quite everything.

http://www.perrspectives.com/blog/archives/002120.htm

[liberal N proud]

1. But the pukes want still less taxes.

[JohnWxy]

2. Good point. I couldn't agree more: see link if anybody williing to act instead of just discuss..

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x590855">Question for DUers: do you think it's worth it to email to urge repeal of tax cut extensions (Dec)

[Lasher]

3. Your enthusiasm is admirable.

But I see things like this and it just takes all the wind out of my sails. I respect what you're doing. Good luck.

[JohnWxy]

6. I know, this is very disconcerting to me too (and i'm sure to Congressmen) but I just think

that just because Obama is a moderate Republican that doesn't mean Democrats, grass-roots and in Congress, have to stop being Democrats and stop fighting the good fight. It would be a lot easier with a leader but you gotta work with what you got,..... or don't got, as the case may be.

[libmom74]

4. Millionaires and billionaires

got to keep their tax cuts and the unemployed got a 2 month extension of UI ando now the Repukes are going nuclear on cutting away our social safety net and workers rights, so I want to ask all of those who were defending Obama's bipartisan compromise on the tax cuts now do you think it was worth it?

[Lasher]

5. Don't forget, the middle class got a few crumbs in tax cuts.

I'm sure some people don't care where the money comes from, just so they personally get an extra $500 or so back on their income taxes.