Not Satisfied With Latest Tax Hike… Democrats Want To Introduce Another Trillion Dollar Tax on Americans

Back in 2008 Barack Obama said it was hurtful to raise taxes during a recession.
He also spoke out about the negative affects of running a high deficit.

But that was four years ago.
Democrats just raised taxes on 77% of American households with the fiscal cliff bill.
Now they want another trillion dollar tax hike.
The Hill reported:

Democrats say they want to raise as much as $1 trillion in new revenues through tax reform later this year to balance Republican demands to slash mandatory spending.

Democratic leaders have had little time to craft a new position for their party since passing a tax deal Tuesday that will raise $620 billion in revenue over the next 10 years.

The emerging consensus, however, is that the next installment of deficit reduction should reach $2 trillion and about half of it should come from higher taxes.

This sets up tax reform as one of the biggest fights of the 113th Congress, which began on Thursday.

 

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  • ALL_IS_LOST

    Well maybe he could begin by removing the Hollywood and NASCAR giveaways he just approved.

    An evil man does evil.

  • Ben

    Whatever. What spending cuts are they willing to give in exchange? I’d go for a few tax reforms in exchange for a balanced budget and a Balanced Budget Amendment to the Constitution.

    Republicans’ starting offer should be a balanced budget amendment with no tax rate increases or the debt limit stays where it is, regardless of the consequences. We might as well go bankrupt today with $16 Trillion in debt vs. a few years from now with $20 Trillion. Why postpone it if it’s inevitable?

  • MT Geoff

    Readers here mostly know that raising tax rates will almost certainly reduce revenues. Even if the specific revenue stream increases — like the Social Security payroll tax — the overall effect is a brake on the economy and so a brake on overall revenue. The SS tax may not actually raise more money either for a lot of reasons.
    Class warfare is ugly. It’s ugly if the wealthy wage warfare on the poor, which wealthy liberals do by making it so much harder to leave poverty behind. It’s ugly if the poor or their surrogates wage war on the wealthy — which wealthy liberals do, by telling the poor that their problems are caused by “the rich”. Michael Moore is one of the ugliest of these but he has a lot of friends.
    And just for giggles, it’s obvious that raising revenues by $2T over 10 years is absurd anyway — first, because it’s too small to help our deficit problem and second, because it won’t happen anyway.
    T
    Our fiscal issues require two courses of action: reduce spending and release the power of a free economy. Neither will happen under liberal leadership.

  • FMB42

    Quote:
    “Well maybe he could begin by removing the Hollywood and NASCAR giveaways he just approved.”

    Any Emperor worth his salt knows that you gotta keep the “bread and circuses” running.

  • http://biggovernment.com ponderon

    http://www.canadafreepress.com/index.php/article/50229……….O taught classes how to destroy middle-class……these taxes don’t effect the rich but the middle-class..the group that stands in the way of complete marxist take-over….

  • ALL_IS_LOST

    Obviously Obama needs to nationalize more industry.

  • db

    Beware of “tax reform” that introduce hidden taxes (carbon tax, VAT tax, mileage tax, “excise” taxes) — especially if they are coupled with “tax reductions” for the middle class!

  • L.E. Liesner

    Wasn’t taxing the rich going to solve all these problems? Of course those of us that live in the real world knows that whether they get more money of not, the spending will continue to go on. The real goal of these liberal/progressives is to have only two classes in this country, the rich and the poor. It is much easier to control the poor then the middle class, with social programs.

  • Blacque Jacques Shellacque

    Democrats say they want to raise as much as $1 trillion in new revenues through tax reform later this year to balance Republican demands to slash mandatory spending.

    In other words, the a-holes known as Democrats want to preserve the status quo.

  • paul52

    Boner can pass a Balanced Budget Constitutional Amendment…. and dare Barry to veto it.

  • paul52

    And then see how fast enough states pass it!

  • Harry Numbnuts Reid

    #3

    Balance the budget? Oh, hardy har har.

  • Finncrisp

    Until you have a budget, there is no spending problem. Barry and Harry are determined to never have a budget during their reign. Problem solved! A CR merely continues the “no problemo” rate of expenditure.

  • shadow

    Boner can pass a Balanced Budget Constitutional Amendment…. and dare Barry to veto it.

    You missed a step. It would have to pass in the Senate before Obama would get his shot at it.

  • bobdog

    It never seems to occur to these asshats in Washington that cutting spending by a trillion dollars accomplishes far more than raising taxes by the same amount.

    Actually, that trillion dollars in taxes is taken by force out of the economy. Spending is reduced, businesses large and small are forced to cut jobs, and we end up with even more people getting food stamps, unemployment and other forms of government generosity. All of which have to be paid for with borrowed money.

    Are these people THAT stupid?

  • Bait and Twitch Politics

    You get nothing for contributing to the plush lifestyles of bumrow bureaucrats, we need more “rev for the red”.

  • http://mychal-massie.com/premium/ bg
  • http://mychal-massie.com/premium/ bg

    ++

    too many people were benefiting off of capitalism..

    so much so that the Trillion and Billionaire elite needed to do
    something to slow progress in order for them to assure their
    survival., ergo, New One World Order puppeteered by the
    chosen few (so to speak), ie: the Rockefeller’s, Rothschild’s,
    and Alwaleeds..

    [eduction = education]

    ==

  • Finncrisp

    It is funny – there are no more pressers about jobs lost and jobs saved. Remember that drivel? Here we are with no mention of what is really happening, just nonsense about how there is no spending problem higher taxes can’t solve. MSM uncurious as to how that works, exactly.