Boehner to seek smaller $2 trillion deal - PowerStrokeNation : Ford Powerstroke Diesel Forum
 
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post #1 of 9 (permalink) Old 07-11-2011, 06:25 PM Thread Starter
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Boehner to seek smaller $2 trillion deal

Boehner to seek smaller $2 trillion deal to avoid tax increases | Deseret News

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WASHINGTON House Republican budget negotiators have abandoned plans to pursue a massive $4 trillion, 10-year deficit reduction package in the face of stiff GOP opposition to any plan that would increase taxes as part of the deal.

House Speaker John Boehner informed President Barack Obama Saturday that a smaller agreement of about $2 trillion was more realistic.
Remember these are 10 year projections. $2 trillion / $4 trillion only equates to $200 billion / $400 billion a year.

That does NOT even cover the intrest payments on our debt.

What a ####ing joke.

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post #2 of 9 (permalink) Old 07-11-2011, 06:32 PM
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Re: Boehner to seek smaller $2 trillion deal

If the republicans wimp out here, look for a 3rd party

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post #3 of 9 (permalink) Old 07-11-2011, 06:40 PM
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Re: Boehner to seek smaller $2 trillion deal

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Originally Posted by Cuzmail View Post
If the republicans wimp out here, look for a 3rd party
Damn shawn, you always beat me to it!
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post #4 of 9 (permalink) Old 07-11-2011, 06:42 PM
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Re: Boehner to seek smaller $2 trillion deal

We don't have time for puzzy footing around this anymore. It is time to get to business, and this is to resolve this problem. Force people to work and get them off their lazy duffs.
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post #5 of 9 (permalink) Old 07-11-2011, 06:46 PM
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Re: Boehner to seek smaller $2 trillion deal

What's interesting in this case is that Obama is trying to get double the reduction that the Republicans are shooting for.

I can only assume that Boehner just subtracted out his half of the pain (tax increases on the wealthy and removing tax loopholes) to arrive at 2 trillion.

The fact is about 1/2 the population supports social programs (this is highly simplified) like Medicare in general (Democrats) and half don't (Republicans) therefore it's only logical to split the pain between the sides. Neither side can expect to get something w/o giving up an equivalent.

But Republicans better procede w/ caution when it comes to cutting seniors' benefits as seniors will slaughter them come November. It's really a shortfall in our entire political process. Our election system assumes that the public can make the correct decisions for the country w/o looking out strictly for their own interests. This denies human nature.

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post #6 of 9 (permalink) Old 07-11-2011, 07:10 PM
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Re: Boehner to seek smaller $2 trillion deal

Can someone please explain to me what a tax loophole is?

Also, what is a gun show loophole?


Tongue in cheek.... Me thinks the term loophole is being misued.


Shawn

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post #7 of 9 (permalink) Old 07-11-2011, 08:52 PM Thread Starter
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Re: Boehner to seek smaller $2 trillion deal

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Originally Posted by Suns_PSD View Post
What's interesting in this case is that Obama is trying to get double the reduction that the Republicans are shooting for.

I can only assume that Boehner just subtracted out his half of the pain (tax increases on the wealthy and removing tax loopholes) to arrive at 2 trillion.

The fact is about 1/2 the population supports social programs (this is highly simplified) like Medicare in general (Democrats) and half don't (Republicans) therefore it's only logical to split the pain between the sides. Neither side can expect to get something w/o giving up an equivalent.

But Republicans better procede w/ caution when it comes to cutting seniors' benefits as seniors will slaughter them come November. It's really a shortfall in our entire political process. Our election system assumes that the public can make the correct decisions for the country w/o looking out strictly for their own interests. This denies human nature.
I think that the majority of the half that support the programs have paid for them all their life and feel they have a right to a return on their money, I don't blame them.

The republicans could very easily start cutting many of these programs if they would just make up their mind, do it and get the word out. The word being that those on the programs currently will not be affected. Of course they are too stupid to do such a thing.

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post #8 of 9 (permalink) Old 07-12-2011, 02:06 AM
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Re: Boehner to seek smaller $2 trillion deal

Boehner is starting to waffle. If he keeps his foot down he will have my support, if he folds, I will just mark him as another wolf in sheeps clothing. Everyone says we need to get the budget under control, do what every halfway intelligent American has done recently. Cut spending.

I used to go on 2 good vacations every year. Something like Hawaii and Alaska or skiing in Colorado and diving in the Grand Cayman's. The last 3 years or so those trips haven't been in my budget so I haven't gone on them. Hence I cut my spending. The family vehicle is turning 10 yrs old so I'm in the process of buying a new Expedition, I can afford to do that because I didn't go on lavish vacations the last 3 years. This crap isn't rocket science

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post #9 of 9 (permalink) Old 07-12-2011, 03:17 AM
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Re: Boehner to seek smaller $2 trillion deal

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Originally Posted by Cuzmail View Post
Can someone please explain to me what a tax loophole is?

Also, what is a gun show loophole?


Tongue in cheek.... Me thinks the term loophole is being misued.


Shawn
One such tax loophole
Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes - Bloomberg

Gun show loophole from my understanding is this: Lets say I am a looking to buy a gun at a gun show, but I don't have to register it or pass a background check. I pay you cash for it and you accept. Dun Deal. That is my understanding of that. And you don't pay a tax on the sale of the gun.

It would be the same as if I sold you a car in cash. The car is actually worth $8,000 but on the title I record only $1,000. So now you avoided paying the extra tax ($7,000 worth of tax at your state rate) your state will impose on that sale of goods. This is another type of loophole.
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