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    Harry Reid: Those negotiations will fail, that debt deal will be lost

    Harry Reid: Those negotiations will fail, that debt deal will be lost

    When word spread via leaks to The NY Times and others that there was the possibility of a debt deal being worked out between Obama and Boehner in which budget cuts would be frontloaded with no new taxes on “the rich,” Democrats in the Senate rushed to scuttle any deal, led by Harry Reid. 

    As reported by WaPo (h/t SoccerDad):

    After a lunchtime meeting between [White House Budget Director Jacob J.] Lew and Senate Democrats, Majority Leader Harry M. Reid (D-Nev.) made no attempt to hide his anger, telling reporters that his caucus would oppose the “potential agreement” because it appeared to include no clear guarantee of increased revenue.

    “The president always talked about balance, that there had to be some fairness in this, that this can’t be all cuts. There has to be a balance. There has to be some revenue and cuts. My caucus agrees with that,” Reid said. “I hope that the president sticks with that. I’m confident that he will.”

    TPM reports:

    At this point, Democrats are hoping they’re popping a trial balloon — proving to both Obama and Boehner that a no-revenue idea can’t pass.

    I’m waiting for Reid to step to the microphone and declare with pride and conviction:  The negotiations have failed, the debt deal is lost.

    Update: A vote will take place today, possibly even this morning, on a procedural motion by Harry Reid to kill the Cut, Cap and Balance bill passed by the House. The motion needs only 51 votes to kill the bill without any debate.

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    bleached cat | July 22, 2011 at 10:51 am

    “The president always talked about balance, that there had to be some fairness in this, that this can’t be all cuts. There has to be a balance. There has to be some revenue and cuts.”

    Balance is for tightrope artists and performing seals with balls on their noses. The Dems’ “reasonable” rhetoric belies any arithmetic reason; there is no balance unless the ratio of cuts to raised revenues is a one-to-one equivalence (which would even so constitute a soul-bruising concession on the part of Dems- to keep the debt exactly at its current level and not offset every dollar of spending cuts with any integer greater than one of new excise monies.)

    You know, EVERY TIME I see the “there has to be balance, the wealthy have to pay their ‘fair share’ or the wealthiest Americans and the biggest corporations should do their part as well” I nearly start screaming that the wealthiest are doing almost FIFTY TIMES their part ALREADY. The Democrats, Liberals, Progressives and Statists just LOVE to look at EVERYTHING in terms of ratio EXCEPT taxes.

    The Republicans and Conservatives need to be out there combating this idea that the ‘Wealthy’ aren’t doing their fair share. As the top 1% which Obama wants to pay ‘just a little bit more’ ALREADY pay 38% of the federal Income tax Burden, while the bottom 50% pay less than 2.5% TOTAL (and WILL pay an even LARGER percentage once the Obamacare social taxes go into effect taxing investment income and surcharging income for FICA purposes), it’s time that the Republicans simply came out and said it: It’s NOT the Wealthy that aren’t paying ‘their fair share,’ It’s the POOR.

    The Republicans and Conservatives need to be hitting the President EVERY DAMN DAY on his “desire for wealth redistribution in the form of ever higher taxes and ever more spending.” They need to be in front of the press EVERY SINGLE DAY repeating OVER AND OVER again, until the press gets it right that the top 1% is ALREADY paying their fair share, and to ask them to pay more is IMMORAL THEFT to feed the unlimited spending desires of Washington.

    Let me correct and clarify my above statement: the average “top 1%” taxpayer (those making $1.34 Million or more) pays a burden actually OVER 50X the burden of the “average” taxpayer earning $58,000 (the middle quintile group of which pays, total, 4.4% of federal tax revenue) BY PERCENTAGE of taxes paid to income earned.

    Obama can try to demonize all he wants, but the Republicans need to be out there saying “a progressive income tax is one thing, but forcing one percent of the population to pay a burden more than 50 TIMES heaver than that of the average taxpayer is IMMORAL.” Make OBAMA defend the fact that he wants 1% of the population to pay a burden 50X that of the “average” taxpayer.

    The public will absolutely REVOLT if they understand that burden.


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