Debt deal's lack of revinue

Discussion in 'Politics' started by jp, Aug 3, 2011.

  1. jp

    jp
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    I'm glad that the debt ceiling has been increased. What we need most is a sense of stability and predictability in the market place. That hasn't been achieved but we have managed to avoid defaulting which IS IMPORTANT even though some think it wasn't really an issue.

    However, the deal wasn't exactly a compromise. Everyone (except the tea party) agreed and stated that the debt must be increased, cuts vs revenues was the sticking points. The deal only has cuts and no revenues, that's no compromise.

    Any progressives know of any strategies or movements behind the scenes that can make me feel more confident about tax loopholes being closed and ending the Bush tax cuts for those making more than $250,000?
     
  2. Bardox

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    One insane thing I noticed was section 402 of this deal precludes a filibuster or amendments if anyone from the this so-called "super congress" thinks any revenue ought to be in the package, but if it is only cuts then there can be no filibuster or any amendments. If it doesn't look good on paper I know it couldn't have sounded good during the negotiations.
     
  3. D_Davy_Downspout

    D_Davy_Downspout Account Disabled

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    The market wasn't unstable from this. Look at bond yields. Sure it's been slightly down, but there have been a bunch of bad economic reports.

    Nobody who knows anything about this thought there was any risk of default, it was just theater.

    Agreed.

    There are none. There aren't really any progressive to speak of in power, and the CPC folded like a wet napkin on the final vote. You're not getting taxes increased on the top bracket(which starts at 390k btw), that's completely out of the question and literally not even being discussed right now. The most progressive anyone has really got is talking about maybe closing some loopholes and lowering the overall tax rate.

    They actually won't even use the term "tax increase" any more. They call it "revenue increase", because that covers the fact that they're going to lower tax rates and close some loopholes and try and tell you that they'll be pulling in more cash.

    If you're looking for progressiveness from this congress or this Democratic party, you're going to be disappointed. Though I can't imagine why you'd still believe that it's even possible.
     
  4. B_starinvestor

    B_starinvestor New Member

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    Yep. Cuts are coming. Glad somebody sees it.
     
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