Kevin Drum put together the list of the biggest tax increases in history:
"what digby sez..."
Kevin Drum put together the list of the biggest tax increases in history:
Thank you Jesus. My prayers may have been heard!
by digby
This is the best news I’ve heard in a very long time. I know it hasn’t happened yet, but the mere fact that it might is so thrilling that I feel giddy:
Members of Congress from both parties are increasingly mulling the unthinkable: going home in December without acting to avoid the $4 trillion in tax hikes and deep spending cuts known as the fiscal cliff.
Neither Democrats nor Republicans claim this is their preferred option, as it could rattle global financial markets badly and anger their constituents.
But as they circle each other in an ever-more partisan atmosphere they see little prospect for a settlement acceptable to both parties in the lame duck session of Congress after the November 6 election.
That is when they confront the wave of fiscal cliff decisions including how to handle expiration of temporary tax cuts that originated during the presidency of George W. Bush, $1.2 trillion in automatic spending cuts and the need to raise the debt ceiling again.
Some members and partisan strategists are concluding that they might be better off doing nothing.
They would come back in January with a new Congress relatively flush with cash – at least on paper – from the impact of the tax hikes; hit reset and start over to structure a new series of tax cuts. Call them the “Obama tax cuts” or “Romney tax cuts,” depending on the victor in the November election.
The risk of shaking the markets is always there. But they could mitigate that by telegraphing to voters and Wall Street in advance that they definitely intend to write some new tax cuts into law. It could take a couple months, or maybe even all of 2013 and beyond, but they promise they will do it and they promise they will make the tax cuts retroactive to January 1, 2013.
The markets haven’t reached for the smelling salts yet and they won’t this time either. Bring it on.
And if the Democrats can’t beat the Republicans in a game of chicken in which they’re calling for massive tax cuts for the middle class, then they really are useless.
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Dazed and confused by the betrayal of John Roberts
by digby
One unexpected upside of the health care decision is the fact that the Republicans are so shocked and unbalanced that they can’t think straight:
[T]he GOP leader in the U.S. Senate gave a surprising answer on “Fox News Sunday” when asked how Republicans would provide health care coverage to 30 million uninsured Americans.
“That is not the issue,” Sen. Mitch McConnell said. “The question is how to go step by step to improve the American health care system. It is already the finest health care system in the world.”
“Fox News Sunday” host Chris Wallace interrupted, “You don’t think 30 million uninsured is an issue?”
“We’re not going to turn the American health care system into a western European system,” McConnell said. “That’s exactly what is at the heart of Obamacare. They want to … have the federal government take over all American health care. The federal government can’t handle Medicare or Medicaid.”
I’m sure McConnell isn’t quite this stupid so he must be playing to Murrican throwbacks who think that Western Europe is some hellscape with starving urchins and people dying in the streets. The idea that our health care system is superior is a delusion that only egotistical provincial Americans would believe.
We do good medicine here. So do they. The difference is that there everyone has access to it. The only thing that can really explain the difference at this point is that Americans are selfish assholes who believe that people who aren’t “like them” (insured by their employers, on Medicare or filthy rich) have earned the right to stay alive if they get sick.
Meanwhile, we have Paul Ryan just talking straight-up gibberish:
ABCNews’ “This Week” host George Stephanopoulos asked Ryan about Republican presidential candidate Mitt Romney’s contested claim that health care reform simultaneously cuts $500 billion from Medicare, hikes taxes by $500 billion and adds trillions to the deficit over a 10-year stretch.
“By that accounting,” Stephanopoulos said, “your own budget, which Gov. Romney has endorsed, would also have $500 billion in Medicare cuts.”
“Well our budget keeps that money for Medicare to extend its solvency,” Ryan said. “What Obamacare does is it takes that money from Medicare to spend on Obamacare.”
Stephanopoulos was confused: “Congressman, correct me if I am wrong: I thought your Medicare savings were put toward deficit reduction, debt reduction.”
“Which extends the solvency of Medicare,” Ryan said. “What they do in Obamacare, they try to count this dollar twice. They claim that this helps Medicare solvency and, at the same time, they spend this money on creating Obamacare.
“The trustee report for Medicare, they say the same thing,” Ryan added. “You can’t count these dollars twice. In our budget we make sure all of these dollars from Medicare savings go toward extending the solvency of Medicare and don’t go toward spending new money on Obamacare.”
Uh huh. I guess he wants to destroy Medicare in order to save it?
Clearly they haven’t quite found their footing yet. But I have great faith they will eventually figure out just the right propaganda and misinformation to explain themselves to the villagers and fire up their troops. This is what they’re good at. It’s the only thing they’re good at.
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Centrist doubts
by David Atkins
Pass the smelling salts:
Propelled by a torrent of blistering television advertisements, President Obama is successfully invoking Mitt Romney’s career at Bain Capital to raise questions about Mr. Romney’s commitment to the middle class, strategists in both parties say, as the candidates engage in a critical summer duel to set the terms for this fall.
Despite doubts among some centrist Democrats about the wisdom of attacking Mr. Romney’s business career, millions of dollars in negative commercials painting him as a ruthless executive who pursued profits at the expense of jobs are starting to make an impact on undecided voters in swing states, according to strategists from both sides.
The petty, comfortable, centrist bipartisan fetishism of Thomas Friedman and his ilk is hypothetically excusable in its misguided earnestness.
But to claim that attacking Romney’s vulture capitalist record as a classic Gordon Gekko archetype is somehow going to make the President seem “anti-business” is so absurd it cannot possibly be in earnest.
The Gordon Gekkos of America are not the “business community.” People who actually make real things and provide real services in the real world are the “business community.” For better or for worse, the Koch Brothers, Bill Gates and Sam Waltons can legitimately claim the mantle of real American business. Vulture capitalists kind cannot. And yes, even moderate, undecided voters in swing states can tell the difference.
There are no authentic “centrist doubts” on this issue. There are only politicians who fear losing the Wall Street gravy train if they call out the vulture capitalists for what they are.
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