The Fiscal Cliff talks

[UConn James]

http://online.wsj.com/article/potomac_watch.html

 

According to sources on Capitol Hill, the White House wants Republicans to pony up $960 billion in immediate tax increases, which will come from hiking the top marginal rates and increasing capital gains and dividends taxes. That is just for starters. The administration also wants the GOP to surrender an additional $600 billion in revenue via later tax reforms.

 

The president's team specified no amounts or details on spending cuts. Rather, the White House wants more spending: at least $50 billion in new stimulus, an extension of unemployment insurance, a one-year deferral of the sequester, new money to refinance underwater mortgages, a Medicare-doctor fix . . . and a partridge in a pear tree.

 

Oh, and the White House also wants Congress to give Mr. Obama the authority to increase the debt limit, whenever he wants, as much as he wants.

 

Democrats don't want a deal, they want to drive FORWARD! over the fiscal cliff. It's their wet dream --- $1.2T in Defense cuts and a serious paring of this country's military/influence.

 

I think they're fully willing to absorb the accompanying social/entitlement cuts to achieve this... and they'll do their best to blame the Republicans for it, then simply pass more social spending.

[meazza]

http://www.zerohedge.com/news/2012-11-30/570-million-powerball-victory-context

 

[birdog1960]

so how is everyone playing this with their 401k's/investments? i'm almost entirely out of equities right now. potential downside is much greater than upside, i think.

[B-Man]

ALL negotiations should be in public hearings.

 

 

I see no downside (except to dem spinners and the media)

 

 

let everyone who believes that their plan is best, lay it out publically,

 

then we avoid the political posturing (and white house mis-leading leaks) which do not help the process at all.

 

 

 

Report: Obama’s “fiscal cliff” offer to Republicans calls for $1.6 trillion in new taxes and end of debt ceiling in exchange for … nothing, basically.

 

Even more unbelievable than the ‘offer’ itself is the fact that the our media will go on painting Republicans as the unreasonable ideologues in this equation.

 

 

 

The GOP should demand open negotiations, on C-SPAN, or just walk away.

 

 

 

or this;

 

 

Is John Boehner Dumb Enough to Take $400 Billion in Cuts a Decade From Now in Exchange for $1.2 Trillion in Tax Hikes That Start ASAP?

 

 

.

[keepthefaith]

http://online.wsj.co...omac_watch.html

 

 

 

Democrats don't want a deal, they want to drive FORWARD! over the fiscal cliff. It's their wet dream --- $1.2T in Defense cuts and a serious paring of this country's military/influence.

 

I think they're fully willing to absorb the accompanying social/entitlement cuts to achieve this... and they'll do their best to blame the Republicans for it, then simply pass more social spending.

 

We'll see where this ends up but the early talks and reports show clearly that democrats (this word does not deserve capitalization) simply want to move the social and economic justice agenda forward with no regard for the fiscal health of the country. It's nothing more than a shameful voter registration program bought and paid for with borrowed money and tax dollars.

 

All of you who voted for dems this last cycle should be embarrassed and ashamed at what your party is putting forth thus far on the debt and budget issue. You can't possibly conclude that what Obama and the rest of the party are pushing now are good sound ideas. If you have any balls at all you'll get on the phone with your favorite congresspersons and senators and tell them to cut the BS and get us moving toward a balanced budget. Make meaningful steps in that direction. Once again, the uninformed koolaid drinking American public has been duped into thinking that a "balanced approach" would actually be carried out. Of course, the "balanced approach" was never defined. The phrase simply rated high in poll testing and became the party line. What a pile of steaming stinking manure.

[....lybob]

http://online.wsj.co...omac_watch.html

 

 

 

Democrats don't want a deal, they want to drive FORWARD! over the fiscal cliff. It's their wet dream --- $1.2T in Defense cuts and a serious paring of this country's military/influence.

 

I think they're fully willing to absorb the accompanying social/entitlement cuts to achieve this... and they'll do their best to blame the Republicans for it, then simply pass more social spending.

I'd be shocked if Obama let them go over the fiscal cliff even though that's what I'd do in a second and then make the Republicans vote on every little part.

[/dev/null]

Obama: Tax hikes now, then we can sit down and talk about what else the Republicans will compromise on

[birdog1960]

I'd be shocked if Obama let them go over the fiscal cliff even though that's what I'd do in a second and then make the Republicans vote on every little part.

i truly believes he wants a deal but he's got to get a better deal than offered last time. and given the election results, the cons should be willing to give it. but i'm not holding my breath.

[B-Large]

I think we need to keep the cuts that are supposed to happen anyway, regardless of some convoluted deal that is made. Extend the tax cuts for the Middle Class, lt them expire on the Wealthly, and begin taxing anyone who pays no net taxes.. it doesn't have to be drastic, but I think the time has come where eberybody needs to pay something, even if it a few shiny nickels. We will never refomr spending or our growing government until everybody pays something....

 

My investments stay where they are, I have 25 years until I need them, and alot of my money is in bricks and mortar anyway.

[Nanker]

so how is everyone playing this with their 401k's/investments? i'm almost entirely out of equities right now. potential downside is much greater than upside, i think.

 

Those are next. The rich should have those confiscated by the government and in return get a voucher for government treasuries. That's what I hear the left wants to have happen. Equities are going to tank as a result of the increase in CG taxes alone. That's going to affect a lot of retirement portfolios - including those of large labor unions. Then, when the taxes that are mandated by Obamacare begin to kick in, it'll start hitting home what a shitter the country really is in. Things like the 3% tax on the sale of capital assets - doesn't sound like much, but when you have to pony up a check to the IRS when you sell your home, people are going to start to get it and to get pizzed.

[birdog1960]

Those are next. The rich should have those confiscated by the government and in return get a voucher for government treasuries. That's what I hear the left wants to have happen. Equities are going to tank as a result of the increase in CG taxes alone. That's going to affect a lot of retirement portfolios - including those of large labor unions. Then, when the taxes that are mandated by Obamacare begin to kick in, it'll start hitting home what a shitter the country really is in. Things like the 3% tax on the sale of capital assets - doesn't sound like much, but when you have to pony up a check to the IRS when you sell your home, people are going to start to get it and to get pizzed.

um, no...wanna give a reference to where you heard that? maybe beck or that fat, deaf, impotent guy?people are going to invest no matter the change in capital gains taxes. inflation demands that they do. but there will be a big drop in equities if we go over the cliff. and then the blame game will go full tilt and a deal will be done. and just before (or even right after)that will be the time to get back in.

[Nanker]

um, no...wanna give a reference to where you heard that? maybe beck or that fat, deaf, impotent guy?people are going to invest no matter the change in capital gains taxes. inflation demands that they do. but there will be a big drop in equities if we go over the cliff. and then the blame game will go full tilt and a deal will be done. and just before (or even right after)that will be the time to get back in.

 

au contraire. I got it from the horse's azz itself. Inflation's going to eat up your greenbacks faster than you can say, "WTF?"

What will we care? We'll have Medicare.

[birdog1960]

au contraire. I got it from the horse's azz itself. Inflation's going to eat up your greenbacks faster than you can say, "WTF?"

What will we care? We'll have Medicare.

i'm guessing the schwartz center for economic whatever doesn't hold much sway with the white house or congress. geez, how long did you teabaggers have to look to find teresa ghiarducci?

[TPS]

so how is everyone playing this with their 401k's/investments? i'm almost entirely out of equities right now. potential downside is much greater than upside, i think.

I'm betting a deal gets done: if it does, then I'm in for the rally; if it doesn't, you haven't lost anything if you don't sell.

[B-Man]

Jennifer Rubin:

DON’T JUMP OFF THE CLIFF YET:

 

 

For now, however, Senate and House Republicans are playing it right.

They have even got the mainstream media to notice how unreasonable Obama’s non-offer, offer is. (“no concessions”)

. Some even recognized that the president’s “offer” in response to the Republicans’ move on revenue was identical to his post-election opening bid.

 

In their own ways, Sen. Mitch McConnell and House Speaker John Boehner have handled the past couple of days rather expertly. McConnell’s reaction to Treasury Secretary Tim Geithner’s ludicrous proposal — laughter — was exactly right. It is a joke,

and rather than railing at specific parts, a guffaw nicely communicates to voter how un-serious the president is at this point.

 

Likewise Boehner’s more-in-sadness-than-in-anger tone after his call with Obama keeps his party from becoming unhinged and keeps a respectful dialogue with the president. Even more so, his retort to Sen. Harry Reid’s threatened and ill-conceived filibuster threat (it is only meaningful if the other body is in Democratic hands, Harry) made the point that whatever the merits, it is a childish, destructive obsession that won’t get Dems anything when filibuster-insulated legislation is declared “dead on arrival” in the House. (“Any bill that reaches a Republican-led House based on Senate Democrats’ heavy-handed power play would be dead on arrival.”

 

The GOP’s message this week to the Dems can be summed up in two words: Grow up. Only after the president has definitively shown that the Democrats prefer the politics of adolescence should the GOP begin passing out parachutes for the group jump over the cliff.

[keepthefaith]

au contraire. I got it from the horse's azz itself. Inflation's going to eat up your greenbacks faster than you can say, "WTF?"

What will we care? We'll have Medicare.

 

You're right. Actually if we keep electing libs, we might get medicare to include food, clothing, a place to live and even cable TV. After all it's hard to be healthy without food, clothing and shelter and the TV is still the best place for them to expose us to their propoganda which will make us more likely to keep voting them in.

[C.Biscuit97]

Still crying about liberals over here, huh? In a sick way, you all are happy Obama won so you got something to whine about for the next 4 years. Mitt would have this done already and been enjoying another free lunch. Edited November 30, 2012 by C.Biscuit97

[/dev/null]

i'm guessing the schwartz center for economic whatever doesn't hold much sway with the white house or congress. geez, how long did you teabaggers have to look to find teresa ghiarducci?

 

I love how whenever somebody on the right says something stupid, the lefties jump on it because in their mind it represents the entire opposing viewpoint. But when somebody on the left says something stupid, well they're not really affiliated with the Democrats

 

But okay, how about Senators Casey, Harkin, and Sanders holding a recess hearing in 2010

http://www.humanevents.com/2010/10/08/new-lame-duck-threat-to-bailout-union-pensions/

[IDBillzFan]

i truly believes he wants a deal but he's got to get a better deal than offered last time. and given the election results, the cons should be willing to give it. but i'm not holding my breath.

 

Oh please, if Obama wanted a deal he'd be in DC working out a deal, not giving speeches at a toy store.

 

Leaders lead. All others makes lists, give speeches and cue up the blame.

 

Can't blame him, though. This is what America wants. And now they have it.

[dayman]

Obama is sending out a tough first pitch. The Republicans are saying it's ridiculous and a non-starter which is there tough first pitch. Etc etc....people are surprised by this?