Boehner pitches millionaire tax hike
Source: Politico
Boehner pitches millionaire tax hike
By JOHN BRESNAHAN, JAKE SHERMAN and CARRIE BUDOFF BROWN | 12/15/12 7:32 PM EST Updated: 12/15/12 7:35 PM EST
Speaker John Boehner has proposed allowing tax rates to rise for the wealthiest Americans if President Barack Obama agrees to major entitlement cuts, according to several sources close to the talks.
It is the first time Boehner has offered any boost in marginal tax rates for any income group, and it would represent a major concession for the Ohio Republican. Boehner suggested hiking the Bush-era tax rates for top wage earners, including those with annual incomes of $1 million or more annually, beginning on Jan. 1, two sources said.
Obama and Boehner spoke by phone Friday after a lengthy face-to-face session at the White House on Thursday. The quickening pace of private conversations between the two key players in the fiscal cliff standoff shows progress is being made in the negotiations, although they are not close to a deal yet, sources said.
Boehner also wants to use a new method of calculating benefits for entitlements programs known as chained CPI, which would slow the growth of Medicare and other federal health programs and save hundreds of billions over the next decade.
Read more: http://www.politico.com/story/2012/12/boehner-pitches-millionaire-tax-hike-85128.html?hp=bn
Duer 157099
(17,742 posts)The millionaires "sacrifice" their table scraps while the poor sacrifice their lives.
Fuck him and all that are like him.
olddad56
(5,732 posts)they are taking money from those who can least afford it, sort of the opposite of increasing taxes on those who can.
ROBROX
(392 posts)First, the Consumer Price Index doesnt account perfectly for changes in product quality. For example, an average computer today might cost about the same as an an average computer cost last year, but todays computer is better than last years computer in a number of ways that the CPI doesnt account for. Similarly, the invention of new goods poses a challenge to the Consumer Price Index, since incorporating such goods into the basket while maintaining comparability over time can get quite tricky.
Second, the Consumer Price Index assumes that a household purchases the same basket of goods regardless of how the prices of those goods changes. In reality, however, households are probably smarter than this, and they likely substitute away from items that get disproportionately expensive to goods that got comparatively less expensive.
The crazy GOP is using a material standard applied to people who require MINIMUM things to survive which EFFECT peoples lives. I knew these people were crazy and that they NEVER think about what someone tells them to PROMOTE.
Xipe Totec
(43,890 posts)TheDebbieDee
(11,119 posts)ProSense
(116,464 posts)...RW nonsense. How the hell is $1 million a "major concession"?
Boehner also wants to use a new method of calculating benefits for entitlements programs known as chained CPI, which would slow the growth of Medicare and other federal health programs and save hundreds of billions over the next decade.
The speakers offer does not include extending federal unemployment benefits, and it is unclear how it would address sequestration the tens of billions in spending cuts scheduled to go into effect for the Pentagon and other federal agencies starting Jan. 2.
Sounds like Politico is shilling for Republicans again.
xtraxritical
(3,576 posts)freshwest
(53,661 posts)Bonhomme Richard
(9,000 posts)jtuck004
(15,882 posts)number of of the 24 million people who say they want or need work with the Operation Twist money and the additional $40 billion a month being used to prop up wealthy, moneyed interests at the expense of the American people. I know, you say it's supposed to trickle. It ain't.
Then we will figure out what else we need and let you know.
Have a Happy Holiday.
Myrina
(12,296 posts)Not only no, Mr. Boehner, but HELL no.
Crowman1979
(3,844 posts)johnnyplankton
(352 posts)he'd get him to agree to socialized medicine to boot for a bottle. Let's play dirty.
LeftInTX
(25,505 posts)rgbecker
(4,834 posts)Chained CPI equals $300 Billion over ten years.
Let income over $250,000 return to 39% rate equals 1 trillion (1000 billion) over ten years.
OK kids...can you find the difference?
cstanleytech
(26,315 posts)in his own mind.
A Simple Game
(9,214 posts)much as I want to, I will do nothing to stop your tax rates from expiring as the law you Republicans wrote states. Then we will discuss how to spend the windfall. Just the opposite of what you guys did the last time, remember?
How's he to allow what's inevitable?
On January 1, the rates for everyone goes up.
Boehner needs to fuck off.
grantcart
(53,061 posts)We will talk again on Jan 7th when the first paychecks start going up Boehner.
By January 15th we will get a much better deal.
Historic NY
(37,452 posts)xtraxritical
(3,576 posts)Volaris
(10,274 posts)oh wait. Its NOT.
The only way Mr. Speaker can save his own ass is to actually GO OVER the curb. At least that way, he can say he's pushing to support a tax CUT for the Middle Class. Anything else, any other deal (wether it passes or not) he owns outright, and his TeaParty Caucus will nail him down to the tree and leave him to the crows.
lexw
(804 posts)Pretzel_Warrior
(8,361 posts)But goddamn fucking shit no".
Try again, loser.
jmowreader
(50,562 posts)Millionaires pay flat 15 percent because when you're rich you can request payment in anything you want and, by and large, they ask for forms of payment taxed at 15 percent.
The Koch brothers woild have kittens but raising the capital gains rate to equal the corporate tax rate would eliminate the need to adjust ordinary rates.