Question Details

Will the Debt Committee propose to raise taxes?

Will the Debt Committee propose to raise taxes?

Asked by: Super Userkruijs in Politics » United States
Settled on 11/23/2011 22:49 Settled by Super Userkruijs
Winning option: Debt committee calls it quits without a deal
http://money.cnn.com/2011/11/21/news/economy/debt_committee_failure_final/?cnn=yes&hpt=ibu_c2

Predictions

Yes
Yes
No
No

Background

"I've got to tell you Sean, we're not going to raise taxes in this committee," Rep. Paul Ryan (R-Wis.) said on Monday night's edition of "Hannity." Rep. Ryan was talking about the bicameral, bipartisan committee that will propose spending cuts.

The celebrated Joint Select Committee on Deficit Reduction created by the debt-ceiling bill that pass this week hasn’t even been named yet. But it isn’t off to a very reassuring start. It’s a reminder that the bipartisan push to pass the legislation before the Treasury ran out of cash didn’t settle the big differences Republicans and Democrats, particularly on taxes.

In the end, if a majority of the committee wants to advocate higher taxes – and that is one big “if” – it will find a way to do so. And if the six Republicans on the panel insist on relying exclusively on spending cuts, then the committee won’t be able to recommend tax increases of any sort.

http://blogs.wsj.com/washwire/2011/08/03/can-the-super-committee-raise-taxes-or-not
http://www.realclearpolitics.com/video/2011/08/02/rep_paul_ryan_debt_committee_will_not_raise_taxes.html

Find similar: debt committee, debt, ceiling

Comments

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   Super Userkruijs

To no one's surprise, the bipartisan panel called it quits on Monday without reaching any agreement on debt reduction, let alone the $4 trillion "grand bargain" that budget experts say is needed at a minimum to get a handle on the country's long-term fiscal problems.

In order to stave off an automatic "sequester" of spending cuts, the committee at least needed to come up with a $1.2 trillion deal. But apparently even that was too much to ask.

http://money.cnn.com/2011/11/21/news/economy/debt_committee_failure_final/?cnn=yes&hpt=ibu_c2

   Super Userkruijs

House Speaker John Boehner said Thursday that any bipartisan agreement reached by the congressional deficit-reduction supercommittee will need to include some new tax revenue.

Most Congressional Republicans have signed a "taxpayer protection pledge" -- devised by the Grover Norquist-led group Americans for Tax Reform -- vowing not to raise taxes. When asked about Norquist on Thursday, Boehner dismissed him as "some random person in America" but later revised his comments to say that "Norquist, like millions of Americans, believes that raising taxes is not good for our economy."

http://www.huffingtonpost.com/2011/11/04/john-boehner-tax-revenues_n_1075957.html

   hfl13

That is the problem you have all Republkicans (except Ron Paul) and 50% of Dems in the hand of Big Money and the rich. 6Rs and maybe 1D say no and thats it. The automatic cut is not written into that law by chance. It is the likely outcome - no deal.

   hfl13

@ken : I simply have to laugh at that question - No is very clear - neither conservative caucus nor the Tea Party caucus will vote for something like that. Dream on Dems.

Bet against me if you like.

   cici

OK Ken, I give up, democrats (small d) should vote for a tax increase, or else there is nothing to negotiate???

   kenneth1

I am placing a token yes vote (as i think that is what democrats should do), to just at least in principle have all the cards on the table..
else why negotiate at all..., if there is nothing to negotiate about..

   kenneth1

hfl, or anyone...I do not get what the "good laugh" is... Perhaps am too close to the problem....(or i just do not understand the joke,
as it affects the world, i think)..

   hfl13

Thanks for a good laugh !

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