Home Forums Hunting & Shooting Hunter's Campfire Bye, Bye Bipartisanship and Compromise in Fiscal Cliff Negotiations

Making the tax cuts permanent, and reducing spending to balance the budget. That would be a compromise - and one that would get bipartisan support.

In 2006 revenue was 2.4 trillion and 58% was from income vs 47% in 2012.

Kent

Some tax reform package or agreements in principle will be put in place.

For Fiscal Year 2006, the Federal government received $2.407 trillion in revenue

For Fiscal Year 2007, the Federal government received $2.568 trillion in revenue.

The U.S. FY 2008 Budget, prepared by the Office of Management and Budget (OMB), predicted revenue would come in at $2.662 trillion. It actually received less, at $2.524 trillion in revenue.


2009 2.1 trillion
2010 2.165 trillion
2011 2.303 trillion

tax revenue is back to pre-crash levels. Of course with normal growth it should be around 3.1 trillion

If Reid, and Obama were to reach out with this type of proposal, Boehner, and the congress would accept it.

Compromise, bipartisanship, and avoiding the fiscal cliff in this scenario.

There will be no spending cuts that the Dems won't be able to renig on in the out years. That's why the deal failed the last time. Boehner wanted more up-front so they wouldn't magically disappear as they did in previous deals where Bush and even Reagan got blamed for the increases.

Obama said now is not the time to worry about these things. That is all - argument over.

The decreasing percentage from income is what reflects business and employment trends, which reflect wealth in the economy. Increase employment back to 58% in 2012, we would be much closer to a balanced budget.

Kent

Hopefully making the current rates permanent?

That, would be a compromise.

Some sort of tax increase. Of course, they can never raise taxes enough to avoid the inevitable crash.

I agree just vote present ,let him own the upcoming disaster.

The Rs are being set up to lose in 2014. If they don't give in they will be painted as obstructionst and blamed for all of the economic problems. If the give in they will lose their base support. Why donate and work for candidates that vote with the dims?
As long as the media is in bed with the left the right can not efectively get out its message, and the left can frame the argument.

Ernie

Seems to me that neither side wants to do what needs to be done to even slow the bus down.

Some think taxes need to be raised but without cutting back on the amount that is spent.

As for the Fed buying 100% of the debt,sounds like the old check kiting scheme to me.

They could let everyone in the US put something in the pot then slow down the increase in the rise of monies spent by all of these depts then slowly the debt would decrease.

The dems have already said they will not put any decrease's in the near years because they would look like they don't care about their base.

Make everybody pay at least 2% of their annual income in federal income tax - regardless of any deductions or credits, so that everybody pays at least 2 cents on every dollar in income in federal income tax. That would raise at least $65 billion (probably more because I based that number on the number of households not paying any federal income tax and assumed that the average income of those households is $25,000 - both of which are conservatively low in terms of the amount of tax revenue that would be generated). Reduce spending, too, and we would be a lot closer to stopping the borrowing that we can't afford.

Might also consider adding a 1% national sales tax on purchases across the country. That would generate another $112 billion in tax revenues, give or take. That's $177 billion from making sure that everybody pays at least 2% of their income in federal income tax and implementing a 1% national sales tax.

Furthermore, you tie any hope of illegals getting a path to legal residency or citizenship to paying income tax (as one component of the requirements).

We are -300 billion in income tax revenues this year than from 2006... we are +150 billion in social welfare programs spending (excluding SS) much directly related to unemployment rates... we are + 100 billion in illegal immigrant spending. We need to reduce the first two trends with by unhampering business/job growth and whittle away at the third best we can.

550 billion on the table in one year, start cut backs on federal agencies that duplicate state responsibilities...

tax surges will happen with prosperity, not increasing rates until there is no one working except .gov

Kent

Let him veto it when they get hungry enough they might have a change of heart if not they just ran out of other peoples money. That's my take.

Anybody want to bet that Obama will ever cut spending?

I belive that he will continue to spend money faster than it can be printed.

His intention for not extending the tax cuts have nothing to do with reducing debt.

He has no plan that is visisble to do so it's tax and spend full speed ahead damn the torpedeos.

A 1% sales tax would quickly grow to 10% with no cuts anywhere.

But say that would be just a sales tax for the rich right?

But say there isn't anything quite as rich as when the see the expression on a turds face as the hook is set.