QuotePaul Ryan, Herman Cain Push For Tax Increases On Middle Class
First Posted: 9/18/11 10:24 AM ET Updated: 9/18/11 12:53 PM ET
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Bill Clinton , Bush Tax Cuts , Herman Cain , Elections 2012 , Paul Ryan , Video , Middle Class Tax Cuts , Tax Hikes , Tax Increases , Tax The Rich , Politics News
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WASHINGTON -- Rep. Paul Ryan (R-Wis.) said on Sunday that House Republicans would oppose President Barack Obama's payroll tax cuts for both employers and employees, arguing that the policy had already failed to provide a sufficient boost to the economy. "It hasn't worked," Ryan said, suggesting the current temporary tax cut should be allowed to expire, which will amount to a 50 percent tax hike on workers making less than $106,000 per year.
He also said he opposes the president's proposal to require millionaires to pay the same tax rate as the middle class, known as the Buffett plan. "Class warfare might make for good politics, but it makes for rotten economics," Ryan said.
As chairman of the House Budget Committee and the author of a long-term plan that radically alters Medicare and slashes tax rates for the wealthy as well as social spending, Ryan serves as something of an economic spokesman for House Republicans.
GOP presidential candidate Herman Cain, who followed Ryan on "Fox News Sunday," seconded his opposition to the tax on millionaires as well as the payroll tax cut extensions. "It's too little, too late," said Cain.
Senate Minority Leader Mitch McConnell (R-Ky.), appearing later on NBC's "Meet The Press," said he too would oppose taxing millionaires at a higher rate, citing Obama's own comments from 2010, when the president argued that taxes shouldn't be raised during rough economic times. "I think what he said then still applies," McConnell said, insisting that small businesses would be hurt by such a tax plan.
As for the namesake of the Buffett plan, McConnell said that if billionaire investor Warren Buffett feels like he's not paying his fair share, "he should send us a check."
"If Warren Buffett would like to give up some of his benefits, we'd be happy to talk about that," McConnell said, suggesting his benefits be means-tested.
Ryan, while backing a payroll tax hike, nevertheless said that tax hikes cannot be part of the deficit-cutting proposal that the super committee comes up with. As part of his explanation, Ryan made it clear that he sees no difference between raising taxes proactively and allowing tax breaks to expire. "You already have a $1.5 trillion tax increase coming in 2013," he said, referring to the expiration of the Bush tax cuts that were extended by President Obama for two years. Ryan's reference to the expiration as an "increase" gives greater weight to his willingness to let tax cuts for the middle class expire.
Because of the looming Bush tax cut expiration, said Ryan, the super committee should eschew tax hikes. "Why on earth would we go with that, especially when the problem is spending?" he said.
"You're basically saying there's going to be no bargain, no compromise," host Chris Wallace pointed out.
"Clearly, Democrats could work with us" and get $1.5 trillion in spending cuts with no additional revenue, Ryan said. "That shouldn't be that tough."
As for the budgetary woes outside Washington, Ryan said, "We just don't think we should be bailing out state governments." He added, "That's the constitutional responsibility of state governments, not federal governments."
Former President Bill Clinton, appearing on CBS's "Face The Nation," backed Obama's tax hike on millionaires, but suggested that the singular focus should be on job creation, with tax increases on the wealthy coming once the economy improves. "I don't have any objection to talking about it now," said Clinton. "Whether it's good politics or not, it's an honorable thing to do."
Clinton urged passage of the payroll tax cut extension and the creation of an infrastructure bank to fund investments. He also hit at the major drag on the economy. "I don't believe America can return to the full employment days of the '90s until we can clear this bank debt from the mortgage crisis," he said.
http://www.huffingtonpost.com/2011/09/18/paul-ryan-tax-increases-middle-class_n_968408.html
I'm not sure I follow. If payroll tax cuts haven't worked, how have the Bush tax cuts worked?
Quote from: Faeelin on September 19, 2011, 07:43:06 PM
"It hasn't worked," Ryan said, suggesting the current temporary tax cut should be allowed to expire, which will amount to a 50 percent tax hike on workers making less than $106,000 per year.
:lol: Good old Huffpost.
Holy Formating Batman! :o
Jesus. Faelin's worse at posting articles than Tim is.
Quote from: Admiral Yi on September 19, 2011, 07:46:34 PM
Quote from: Faeelin on September 19, 2011, 07:43:06 PM
"It hasn't worked," Ryan said, suggesting the current temporary tax cut should be allowed to expire, which will amount to a 50 percent tax hike on workers making less than $106,000 per year.
:lol: Good old Huffpost.
No kidding. Whew. Hopefully I'll dodge that bullet. GO GOP GO
Quote from: Habbaku on September 19, 2011, 07:58:04 PM
Jesus. Faelin's worse at posting articles than Tim is.
Eh. This might have been funnier if you had spelled correctly.
I think you need to figure out the difference between "funny" and "factual."
Quote from: Admiral Yi on September 19, 2011, 07:46:34 PM
Quote from: Faeelin on September 19, 2011, 07:43:06 PM
"It hasn't worked," Ryan said, suggesting the current temporary tax cut should be allowed to expire, which will amount to a 50 percent tax hike on workers making less than $106,000 per year.
:lol: Good old Huffpost.
:huh: Is there anything wrong with that statement, other than the figure?
Yeah, it's only raising their payroll tax by 50% not a 50% tax hike overall. Clever use of ambiguity.
I didn't think it was particularly clever or ambiguous.
Yi will fight grammatical awkwardness for the rich at every turn. And they really, really appreciate him for it.
Quote from: CountDeMoney on September 20, 2011, 06:40:39 AM
Yi will fight grammatical awkwardness for the rich at every turn. And they really, really appreciate him for it.
From a grammatical point of view the sentence is very well constructed.
If a black president said it, it'd be awkward, that's what you're trying to say. I get it.
Quote from: Admiral Yi on September 20, 2011, 06:49:11 AM
Quote from: CountDeMoney on September 20, 2011, 06:40:39 AM
Yi will fight grammatical awkwardness for the rich at every turn. And they really, really appreciate him for it.
From a grammatical point of view the sentence is very well constructed.
You are not a rich billionnaire, why do you oppose tax increases for them?
Quote from: CountDeMoney on September 20, 2011, 06:50:55 AM
If a black president said it, it'd be awkward, that's what you're trying to say. I get it.
It would be Michael Moorite bullshit spin no matter who said it.
I think a lie is a lie no matter who says it, and you think facts are negotiable as long as you're on the right side. And never the twain shall meet.
Berkut is more fun than you. :(
Quote from: Grey Fox on September 20, 2011, 06:55:19 AM
You are not a rich billionnaire, why do you oppose tax increases for them?
I don't.
Quote from: Grey Fox on September 20, 2011, 07:08:46 AM
Stop voting Republican then.
How much of the thread did you actually read Wolfman?
Quote from: Admiral Yi on September 20, 2011, 07:16:30 AM
Quote from: Grey Fox on September 20, 2011, 07:08:46 AM
Stop voting Republican then.
How much of the thread did you actually read Wolfman?
Every post but the article. Not that it had any influence on the message I'm trying to tell you.
Quote from: Admiral Yi on September 20, 2011, 07:03:36 AM
I think a lie is a lie no matter who says it, and you think facts are negotiable as long as you're on the right side.
Facts are just a tool to arrive at the truth. :)
NPR had a story on cap gains/dividends.
Cal, you were right about tax rate on dividends.
The tax rate on cap gains/dividends was 28% under Reagan, 20% under Clinton, 15% under Bush II. The Bush cuts were due to expire along with his other cuts but got extended for two years with the others back in November.
Why was Obama such a pussy on the Bush tax cut extension? Let all of that shit expire. All he had to do was veto the extension in the unlikely event it cleared a filibuster.
Quote from: Fate on September 21, 2011, 09:32:42 PM
Why was Obama such a pussy on the Bush tax cut extension? Let all of that shit expire. All he had to do was veto the extension in the unlikely event it cleared a filibuster.
Probably for the same reason he's a pussy about everything, which I don't know why that is.
Quote from: Caliga on September 21, 2011, 09:53:40 PM
Quote from: Fate on September 21, 2011, 09:32:42 PM
Why was Obama such a pussy on the Bush tax cut extension? Let all of that shit expire. All he had to do was veto the extension in the unlikely event it cleared a filibuster.
Probably for the same reason he's a pussy about everything, which I don't know why that is.
Because he's afraid that if he's too ambitious in his pursuit of sensible policy, he might not be reelected. And he doesn't have much in the way of beliefs anyways.
I dunno...maybe he felt extending them would've been enough of a bone to assuage the opposition when pushing through Obamacare. If so, he wiffed on that one. Big time.
Quote from: Caliga on September 21, 2011, 09:53:40 PM
Quote from: Fate on September 21, 2011, 09:32:42 PM
Why was Obama such a pussy on the Bush tax cut extension? Let all of that shit expire. All he had to do was veto the extension in the unlikely event it cleared a filibuster.
Probably for the same reason he's a pussy about everything, which I don't know why that is.
He did bomb Libya. It's a thin reed, but there I am, grasping it. :(
Quote from: Fate on September 21, 2011, 09:32:42 PM
Why was Obama such a pussy on the Bush tax cut extension? Let all of that shit expire. All he had to do was veto the extension in the unlikely event it cleared a filibuster.
What do you mean such a pussy? It was his fucking idea. :huh:
Quote from: Admiral Yi on September 22, 2011, 06:21:57 AM
Quote from: Fate on September 21, 2011, 09:32:42 PM
Why was Obama such a pussy on the Bush tax cut extension? Let all of that shit expire. All he had to do was veto the extension in the unlikely event it cleared a filibuster.
What do you mean such a pussy? It was his fucking idea. :huh:
But you know he didn't really mean it.
He meant the hell out of it. It delivered Keynsian stimulus and it allowed him to keep his campaign promise about not raising taxes on the Schumer class...
...until after the 2012 election.