Volker Revelation: ‘STIFF’ NEW TAX NEEDED TO COVER OBAMA SPENDING AT 25% OF GDP

[formerlurker]

VOLCKER REVELATION: ‘STIFF’ NEW TAX NEEDED TO COVER OBAMA SPENDING AT 25% OF GDP

http://www.breitbart.tv/volcker-revelation-stiff-new-tax-needed-to-cover-obama-spending-at-25-of-gdp/

[NHSparky]

You think the average person is gonna see that?  Because if they did...

[thundley4]

Budget woes? Just don't pass one
House Democrats may skip or delay a budget resolution because of the record deficit and midterm elections.

Reporting from Washington — Facing the uncomfortable reality that the federal government's 2011 budget shows record levels of red ink, congressional Democrats may resolve the politically thorny situation by simply refusing to pass a budget resolution this election year.

With voters in no mood to hear about Washington's $1.3-trillion deficit, some moderate and conservative Democrats say they would rather sit this one out. They have found common cause with liberal colleagues who don't want to pass spending cuts, especially while the economy is still struggling.

"I'm not going to vote for anything with that magnitude [of deficit]," said Rep. Gerald E. Connolly (D-Va.), a freshman running for reelection in the fall.

Connolly believes Congress should hold off on a vote until President Obama's bipartisan debt commission delivers its recommendations in a report due by year's end. He thinks his constituents will understand.

"Name one person who won or lost an election because they didn't get a budget resolution passed," Connolly said. "It's totally inside baseball."

weasels

[NHSparky]

So NOT accepting responsibility for your actions is going to get you reelected?  Is that what you idiots REALLY think?

[The Village Idiot]

The last thing the economy needs is a new tax

[thundley4]

The last thing the economy needs is a new tax

They'll raise some taxes by letting the Bush tax cuts expire, but they'll claim that isn't a tax increase.

[DumbAss Tanker]

So NOT accepting responsibility for your actions is going to get you reelected?  Is that what you idiots REALLY think?

In terms of a purely short-term strategy that will get them past the first Tuesday in November, it's actually quite sound.  The Government often operates under a continuing resolution authority well into the next fiscal year for one reason or another, and it would hardly be unprecedented.  The people who would notice and care this time are probably already planning on being mean to the sitting Congressfolk.   

[The Village Idiot]

I really wish we had more conservative media in this country, maybe some of this crap would never have happened.

[Texacon]

They'll raise some taxes by letting the Bush tax cuts expire, but they'll claim that isn't a tax increase.

I've already heard this line from a liberal friend of mine.  When I asked him what we should call it when our taxes go up he said "Tax cuts for the wealthy expiring".

They're going to be so shocked when they see their pay stubs when that thing expires.  I can't wait.

KC

[thundley4]

I've already heard this line from a liberal friend of mine.  When I asked him what we should call it when our taxes go up he said "Tax cuts for the wealthy expiring".

They're going to be so shocked when they see their pay stubs when that thing expires.  I can't wait.

KC

They could raise taxes on the wealthiest to 100% and it wouldn't make a dent in the deficit. Raising taxes on everyone is the only way to make it work, but they don't have the stones for that.

[The Village Idiot]

If they really want to be more like Europe then they have to tax the top 50% at the highest rate and the next 30% at a lower rate or whatever.