Representative Cole Advising Tax Deal to Prevent Going Over the Fiscal Cliff and Preserving Tax Cuts for 98% of Americans...

by: Les Carpenter
Rational Nation USA
Liberty -vs- Tyranny

Is the following a voice of reason by Representative Cole (R-Okal.), or is it a voice for further statism and federal control of the individual's right to retain a larger share of their personal property? Dialogue begins just prior to the one minute mark in CNN video following excerpt.

THE HILL -... “So just let’s make sure for the 98 percent, they know they’re not. We can continue to fight on the other two percent and the higher rates,” Cole said.

The Oklahoma Republican said this would swing leverage over to Republicans in their negotiations with the White House to avoid going over the “fiscal cliff” — a set of massive tax increases and budget cuts that will go into effect early next year unless Congress acts.

“It’s quite the opposite. We gain leverage,” Cole said.

Not everyone is on board with Cole’s suggestion though within the House Republican caucus. Rep. Marsha Blackburn (R-Tenn.) said the election results show that tax increases are not what voters wanted.

“We won the House,” Blackburn said, appearing with Cole on CNN. “The American people have clearly said we don’t want our taxes to go up.”

The Tennessee Republican said she doesn’t see support for tax rates going up among House Republicans. That said, they are more open to tax reform that could bring in new tax revenue.

“I’m not sure there’s support for the rate hikes. There is support for revenue by cleaning up the code,” Blackburn said.

Speaker Boehner (R-Ohio) has proposed bringing in $800 billion in new tax revenue by likely capping or eliminating tax deductions. Cole said Boehner is on the right path but that compromise is on the cards.

“We are not getting 100 percent of what we want, but we can get a lot. John Boehner is trying to focus us where it belongs, and that’s on spending restraint and entitlement reform because this revenue won’t come close to dealing with our fiscal problems,” Cole said. ... {Read More}


Via: Memeorandum

Comments

  1. AnonymousSun Dec 09, 06:58:00 PM EST

    Fiscal Cliff = spending cuts and tax increases.
    Just what a 16 trillion dollar debt needs.

    ReplyDelete
    Replies
    1. Les CarpenterMon Dec 10, 09:31:00 PM EST

      Brilliant. I'd rather see a meaningful effective compromise and baring that just give the "O" Man what he and the dems want. Review in four years. It can only get better, OR worse. In either case the dems and Obama get ALL the credit, win or lose...

      Delete
  2. AnonymousTue Dec 11, 01:00:00 PM EST

    "I'd rather see a meaningful effective compromise"

    What does that mean?

    ReplyDelete
    Replies
    1. Les CarpenterTue Dec 11, 06:51:00 PM EST

      What do you think it means? What would you offer?

      Simplifications of tax code eliminating loopholes, spending cuts (both DoD and domestic), a compromise somewhere between what tax rates are now and what Obama wants after simplification 0f tax code. That means a tax increase across the board by the way. Those not working won't pay taxes and the true poor won't either.

      Delete
  3. Will "take no prisoners" HartTue Dec 11, 07:43:00 PM EST

    I'm not sure that Obama is in any mood to deal but I think that some sort of middle-ground would be possible here; lower the top rate from 39.6 to 37-38 and increase the threshold from $250,000 per family to, say, $500,000. That way Obama still gets to stick it to the "rich" and the Republicans are not seen as entirely caving to the dude. I mean, it's not exactly rocket-science here.

    ReplyDelete
    Replies
    1. Les CarpenterWed Dec 12, 03:52:00 PM EST

      There should be a workable middle ground, and neither oarty seems to be all that serious about compromise.

      So I now say to hell with it. Give Obama and the dEmocrats what they want, sit back, and give em all the credit if it works. If it does't hit em with BOTH BARRELS beginning in 2015. Do this and either way the country will view Obama and the dEms as responsible.

      You are right, Obama is not in a mood to bargain. He thinks he has a HUGE mandate apparently. Chuckling

      Delete
    2. Will "take no prisoners" HartWed Dec 12, 07:58:00 PM EST

      A huge mandate (and, yeah, I'm chuckling, too) and, yet, he's acting pretty small about it. Go figure, huh?

      Delete
    3. Les CarpenterWed Dec 12, 10:37:00 PM EST

      Self absorbed importance I guess.

      Delete

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