Report: Super Committee GOPers Agree To Violate Norquist Pledge…With A Catch(Screw 99%)

[RamboLiberal]

Super Committee Republicans are floating a trial balloon that would produce new tax revenue, in apparent contravention of Grover Norquist’s taxpayer protection pledge, according to Wall Street Journal editorialist Stephen Moore.

But as Moore explains that the offer has a catch:

One positive development on taxes taking shape is a deal that could include limiting tax deductions, perhaps by capping write-offs on charities, state and local taxes, and mortgage interest payments as a percentage of each tax filer’s gross income. That idea was introduced on these pages by Harvard economist Martin Feldstein.

In exchange, Democrats would agree to make the Bush income-tax cuts permanent. This would mean preventing top rates from going to 42% from 35% today, and keeping the capital gains and dividend tax rate at 15%, as opposed to plans to raise them to 23.8% or higher after 2013.

http://tpmdc.talkingpointsmemo.com/2011/11/report-super-committee-republicans-agree-to-violate-norquist-pledgewith-a-catch.php

[phasma ex machina]

1. "Screw 99%" goes without saying in ALL practical political matters. nt

[tabatha]

2. In exchange, Democrats would agree to make the Bush income-tax cuts permanent.

Republicans getting what they want.

How can tax revenues increase without removing the Bush tax cuts.

There should be an Occupy Bush Tax Cuts.

This is total C R A P !

[Leopolds Ghost]

11. That's not a concession. Obama was going to agree to that anyway. He was threatening NOT TO unless

Republicans agreed to the (even worse idea) Supercommission.

So when Republicans agreed to Obama's approach to cut Medicare and Social Security, Obama implicitly agreed to make Bush's tax cuts permanent back in August. Remember how he was using the prospect of NOT doing so as a bargaining chip, during the debt ceiling debate?

[karynnj]

19. I think you are reading things into what happened in August

Though you may be right that when the end of the two year extension neared, the Republicans will again find sufficient hostages to force keeping them, the long term expiration of the tax cuts was actually considered to be part of the status quo as far as the committee went. This meant the base plan against which the committee had to find deficit cuts already assumed that the Bush tax cuts will ALL expire in 2013. The committee would not get credit for ending the Bush tax cuts in 2013 - even if they all agreed to it. They could get credit if they ended the Bush tax cuts on 1/1/2012 - for the amount of additional revenue for 2012 only. It was actually said that the committee could make some or all the tax cuts permanent, but only if they found more deeper cuts to replace the loss of that revenue.

[newfie11]

15. by cutting SS, Medicare, Medicaid. n/t

[spanone]

3. in other words...let the middle class pay for the bu$h* tax cuts

[DearAbby]

4. They take this shit offer

I will walk away. The Democrats now have the wind at their backs, majority of America wants the Bush tax cuts to expire. They take this deal and make it permanent, they are in league with the GOP against the 99%.

Refuse it right away.

Period

End of sentence


dot


.

[newfie11]

16. I am beginning to think this was a set up

Maybe the repugs want Obama to stay in the WH. Looks like they might get what they want with him.

If this goes through I have had it with this president.

[Firebrand Gary]

5. NO DEAL

Permanent Bush Tax Cuts? Fuck that...

[Historic NY]

6. A Super committee isn't representation.

[woo me with science]

7. Aren't we all insulted by the theater by now?

Why even go through the trouble of these sham negotiations? We all knew what the outcome would be at the beginning:

Permanent tax cuts for the wealthy
Deep cuts in Medicare, Medicaid, and Social Security
and protection of the Military Industrial Complex.

We don't even have to post the damned poll numbers anymore. Everybody knows what Americans want, but it doesn't matter in the least. We are owned by the Democratic and Republican wings of the Corporate Party now.

[pansypoo53219]

8. OH HELL NO!!!!!

hell no hell no hell no hell no!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[necso]

9. "perhaps by capping

write-offs on charities, state and local taxes, and mortgage interest payments as a percentage of each tax filer’s gross income."

So, um, perhaps(!) by discouraging charity (any exceptions planned here), penalizing those who live in high tax localities, and making it harder for those who are already stretched to pay their mortgages.

Sounds like stuff straight from the cons' playbook.

[Leopolds Ghost]

10. And "Talking Points Memo" declares this to be positive why?

[eridani]

12. Fight back against the Supercommittee every week

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=106x34938

[Angry Dragon]

13. I guess everyone in DC has their TVs off and do not know

people are walking in the streets saying the government is insane

[newfie11]

14. This is INSANE!!!!!!!!!

People should be rioting in the streets but of course the sheeple will have no idea what has happened to them if this passes.

[RC]

17. Blame our 'Liberal' media.

Too many newspapers and local radio/TV news shows do not have any real national or world news anymore. Except for sports or rock stars dying, national or world events just don't happen anymore.

[GOTV]

18. "as a percentage of each tax filer’s gross income"

So the very rich who's income is way larger than the cost of their house, can still get their full deduction but the middle class gets there's capped.

They are offering to let the middle class pay for making tax cuts for the rich permanent.

[socialist_n_TN]

20. Yep. I saw this article this morning and this was the first thing

I thought of. The Republican's pledge not to raise taxes is shown to be what it is. A pledge not to raise taxes on the wealthy. If it raises taxes on the middle and the poor, that's OK then.

[woo me with science]

21. Kick. nt