On Sep 17, 9:19 pm, SMITH29 <smit...@q.net
> Obama math: no tax increase = tax increase
> I can say right now it doesn't have a chance and partisan bickering will
> mean nothing gets resolved, meaning business as usual.
> AN overhaul of the tax code is long overdue........
> WASHINGTON (AP) — President Barack Obama is expected to seek a new base
> tax rate for the wealthy to ensure that millionaires pay at least at the
> same percentage as middle income taxpayers.
> A White House official said the proposal would be included in the
> president's proposal for long term deficit reduction that he will
> announce Monday. The official spoke anonymously because the plan has not
> been officially announced.
> The measure would be in addition to $447 billion in new tax revenue that
> Obama is seeking to pay for his short-term spending and tax cutting plan
> to jump start the economy.
> House Speaker John Boehner said Thursday he would oppose tax increases
> to reduce the deficit. Boehner has urged Congress' deficit
> "supercommittee" to lay the groundwork for a broad overhaul of the U.S.
> tax code.
> The panel has almost unlimited authority to recommend changes in federal
> spending and taxes and is working against a deadline of Nov. 23.
> Boehner said the panel has "only one option, spending cuts and
> entitlement reforms," a reference to government benefit programs such as
> Social Security, Medicare and Medicaid.
> Any broad compromise that clears the bipartisan committee is almost
> certain to require Democratic agreement to savings from programs such as
> Social Security and Medicare, along with Republican acquiescence to
> additional revenues, although any such tradeoffs are rarely discussed
> openly until the last possible moment in negotiations.
> Obama's new tax proposal was first reported by the New York Times.
It's good to see President Obama finally giving up on any attempt at
compromise with teahadists!
He's setting the stage for his sure 2012 win by labeling ReThugs as
running class war for the rich!!
It'll be great to see Bitch McConnell, Crybaby Beaner and smirking Pig
Cantor kicked right in their smarmy faces!!!