WH plan for how to pay for jobs bill: Half a trillion dollars in new tax revenue and then let the Super Committee figure it out

posted at 6:00 pm on September 12, 2011 by Allahpundit

Or, I guess, we could borrow another $500 billion, with offsetting spending cuts to come in, uh, “the out years.”

Knowing the GOP’s steadfast opposition to tax increases, why would The One shove an allegedly bipartisan-minded jobs plan at them that’s paid for entirely with new revenue? Take three guesses, and the first two don’t count. Yuval Levin:

The White House’s proposed means of paying for the “jobs bill” the president called on Congress to adopt last week really sheds light on the cynicism and confusion at the heart of the president’s new campaign theme. In order to be able to insist that he is proposing ideas but Republicans are unwilling to act, the president will apparently propose exactly the same set of massive tax increases that even Democrats in a Democratically-controlled Congress were unwilling to consider in the midst of the Obamacare debate in 2009. Obviously, having proven unable to persuade his own party to raise those taxes by that much during his prime, the president will be unable to persuade Republicans to do so now. But since evidently his re-election strategy will involve arguing that he is incapable of persuading congress to act, the Republicans’ rejection of massive tax hikes should help him make his case.

Via Andrew Stiles, here’s a Times story from April 2009 about the Democratic Congress’s verrrry lukewarm reception at the time for a similar Obama proposal that would have funded ObamaCare by eliminating $318 billion in certain itemized deductions for wealthy taxpayers. Today’s proposal would fund the new jobs plan with $400 billion via the same sort of deduction rollbacks for the affluent, including the one for charitable contributions. (They won’t go into effect until 2013 lest the new taxes slow any new recovery.) Why would Obama push a revenue plan that his own party ran away from? It makes zero sense if his top priority is to get a bill passed ASAP since it guarantees yet another protracted partisan war over the merits of tax hikes without so much as a whiff of new spending cuts to sweeten the proposal. But it makes perfect sense if his top priority is to improve his chances at re-election by making the GOP choke on raising taxes on the rich, an issue on which the public consistently sides with Obama in polling.

At first blush it may seem irrational that O would play hardball on a new stimulus, not merely because the economy desperately needs help but because his own election fortunes are tied to recovery. But if you assume that the economy won’t recover by Election Day — and the White House does assume that at this point, remember — then the politically shrewd move is to do triage by passing the buck as much as possible. Hence today’s plan, as presented below by Obama budget guru Jack Lew: House Republicans should go ahead and add half a trillion dollars in new revenue by endorsing a bill to which they’re ideologically opposed, and then, if the Super Committee’s up to it, they can start thinking about some spending cuts or whatever. The One checked the box by offering a bill and, much to the delight of his base, he’s not trying to cut anything this time, so his work here is done. On to the campaign.

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he’s pulling the old harry truman card nothing more…

it’s ALL ABOUT THE O…

cmsinaz on September 12, 2011 at 6:06 PM

Typical O’Bambi – let someone else do the work for his general proposals.

honsy on September 12, 2011 at 6:07 PM

So that’s what, “it’s paid for” means.

Barnestormer on September 12, 2011 at 6:07 PM

Deja vu all over again…

1. Tax the “rich.”

2. Tax the oil companies

3. Tax the corporate jet owners.

4. Take ‘em out.

Drained Brain on September 12, 2011 at 6:07 PM

. But it makes perfect sense if his top priority is to improve his chances at re-election by making the GOP choke on raising taxes on the rich, an issue on which the public consistently sides with Obama in polling.

ding ding ding….

cmsinaz on September 12, 2011 at 6:07 PM

Tax the productive and toss the cash to Obama’s union thuggers and the “unemployed and love it” crowd

clnurnberg on September 12, 2011 at 6:08 PM

He started his campaign yesterday…

d1carter on September 12, 2011 at 6:08 PM

White House proposes to pay for jobs bill with tax increases

The White House today is proposing to pay for its new jobs bill entirely with tax increases.

It proposes these tax increases:

–Limiting itemized deductions for incomes above $200,000 and family incomes above $250,000. Total: $400 billion over 10 years;

–Treat carried interest as ordinary income rather than as capital gains. Total: $18 billion;

–Raises taxes on oil and gas. Total: $40 billion

–Increase taxes on corporate jets. Total: $3 billion.

Obama is what he always was, a thug.

Schadenfreude on September 12, 2011 at 6:08 PM

Face it, America: After the first three weeks in office, Obama used up all his ideas and has just recycled and repackaged them ever since.

Socratease on September 12, 2011 at 6:09 PM

Here’s a brain-storming ideal President Obama:

Now that you’ve found the ability to print something, how about producing A BUDGET!

Rovin on September 12, 2011 at 6:09 PM

His base isn’t enough to get him elected.

Time to get the word out folks. Talk to, email, phone anyone and everyone you know. Start spreading the word of what’s coming down the pike, if Obama were to be re-elected. Point out his lies, and corruptions.

We have just over a year…and lots of work to do. I intend on doing my part.

capejasmine on September 12, 2011 at 6:09 PM

Tax increases!?!?!..Why am I not shocked..:(

Dire Straits on September 12, 2011 at 6:10 PM

Such narcissism, impertinence, thuggery, chicanery and megalomania must and will be punished.

Schadenfreude on September 12, 2011 at 6:11 PM

But since evidently his re-election strategy will involve arguing that he is incapable of persuading congress to act, the Republicans’ rejection of massive tax hikes should help him make his case.

wow, that’s delusional. Even if the MSM trumpeted this idiocy to the skies, the public won’t care. And, this path to the JSOC speech is so idiotic that only John McCain and W Bush would have the charity idiotic self-defeating tendecy to not make fun it on the campaign trail. Oh, you held a JSOC without a written bill asking to raise taxes, good job, jug-ears.

joeindc44 on September 12, 2011 at 6:13 PM

I’ll gladly let some else pay you Tuesday so I can have a hamburger today.

rbj on September 12, 2011 at 6:13 PM

old and busted: liberal taxing and spending.
New and shiny (in the mind of liberals) spending then taxing!

joeindc44 on September 12, 2011 at 6:13 PM

This has never been a president for all the people. This is a Mussolini. He even looks like him.

He will go in history as not only having destroyed the land, exponentially, but having caused more hatred than ever anyone could. He can go to Hell now.

Schadenfreude on September 12, 2011 at 6:14 PM

Ask the impossible and get ready with your pointer finger.

Koa on September 12, 2011 at 6:14 PM

New Taxes for Old Ideas that don’t work.

Chip on September 12, 2011 at 6:14 PM

At first blush it may seem irrational that O would play hardball on a new stimulus, not merely because the economy desperately needs help but because his own election fortunes are tied to recovery.

No Obama’s reelection is not tied to the economy (in Obama’s mind), it’s tied to Obama’s gift; making the republicans the scapegoat (in the minds of the voters) for the economic mess the country is in.

Skandia Recluse on September 12, 2011 at 6:15 PM

American Jobs Rethinking the Mud Hut Act

TexasDan on September 12, 2011 at 6:15 PM

This has never been a president for all the people. This is a Mussolini. He even looks like him.

Schadenfreude on September 12, 2011 at 6:14 PM

Indeed, Take a look at this image and revel in the contrast:

http://si.wsj.net/public/resources/images/P1-BC458_LionDo_DV_20110911164823.jpg

Chip on September 12, 2011 at 6:17 PM

“Out years” my rather ample hind quarters. Mr. Obama is a breathtaking asshat.

Mason on September 12, 2011 at 6:18 PM

The GOP is stupid to make this about “Taxing the rich”

Hit Obama back say this.

“Giving Obama want he wants in his plan is stealing jobs from Americans to fund Obama’s special interest partners in Labor and government.”

William Amos on September 12, 2011 at 6:18 PM

I think the GOP should counter with their own way to pay for it – defund ObamaCare.

Then let the game of chicken begin.

gophergirl on September 12, 2011 at 6:18 PM

I would like to see this person cease from having a platform to peddle his bullsh1t to everyone. Simply. I’m beyond ready for this administration to get the boot.

Bee on September 12, 2011 at 6:18 PM

So that’s what, “it’s paid for” means.

Barnestormer on September 12, 2011 at 6:07 PM

He’s shameless.

Kensington on September 12, 2011 at 6:18 PM

I’ll gladly let some else pay you Tuesday so I can have a hamburger today.

rbj on September 12, 2011 at 6:13 PM

I’ll gladly let your grandchildren pay for thirty steaks Tuesday so I can have a hamburger today.

And your grandchildren will have to content themselves with soylent green, too.

Kensington on September 12, 2011 at 6:21 PM

But it makes perfect sense if his top priority is to improve his chances at re-election by making the GOP choke on raising taxes on the rich, an issue on which the public consistently sides with Obama in polling.

Good thing he has his press cadre at his side else they would accuse him of putting politics before country.

Chip on September 12, 2011 at 6:21 PM

By next September running against BHO will be easier than running against GWB.

tim c on September 12, 2011 at 6:26 PM

If you loved Obamacare, you’ll love Obamajob! Bringing socialized employment to a local authority collective near you!

cynccook on September 12, 2011 at 6:26 PM

Stick a fork in him.

otisframpton on September 12, 2011 at 6:27 PM

As Rush mentioned today (in the context of Fast & Furious), some would argue this administration isn’t “going gangsta,” but that they arrived from Chicago already gangsta.

John the Libertarian on September 12, 2011 at 6:30 PM

Don’t think this is going to work.

“It’s really something. We have a lot of Democrats coming to us saying, ‘We hope Turner wins because if Obama doesn’t change his policies, we’re afraid we’re going to lose in 2012,’ ’’ McLaughlin told The Post.

“They’re supporting us as a way to send a wake-up call to President Obama and their party so that there are huge implications nationally from this election,’’ McLaughlin continued.

But many other Democrats have far broader concerns as they privately express the fear that the Obama administration’s record of high unemployment, nonexistent job growth and an uncertain business climate could lead to massive GOP victories in next year’s national and state elections.

Sounds like a plan.

JammieWearingFool on September 12, 2011 at 6:31 PM

Hopefully the GOP will stand up and call him on this rather than just sputter while he slings the crap.

katiejane on September 12, 2011 at 6:37 PM

This is a tar baby. GOP, don’t touch it.

VastRightWingConspirator on September 12, 2011 at 6:37 PM

I don’t suppose even Rick Perry and his new Straight Talk Express would consider the possibility of taxing the 51% of Americans who pay NO income taxes.

There are an awful lot of them; it might add up.

But then, I can’t do D.C. Math, which, as best I can figure, only works to count votes for re-election.

IndieDogg on September 12, 2011 at 6:38 PM

O’Bozo/O’Bambi/O’Bonehead continues to live down to all of the epithets we throw at him.

Jaibones on September 12, 2011 at 6:39 PM

Ogabe…what else did I miss?

Jaibones on September 12, 2011 at 6:39 PM

47% of Americans pay no Federal income tax.

48% of Americans favor a tax increase.

Obama approval rating: 40%.

LMAO.

Jaibones on September 12, 2011 at 6:41 PM

I love how he talks about taxing billionaires and then turns around to tax people making $200K. Yeah, because most billionaires I know earn $200K a year.

angryed on September 12, 2011 at 6:42 PM

But since evidently his re-election strategy will involve arguing that he is incapable of persuading congress to act, the Republicans’ rejection of massive tax hikes should help him make his case.

No one likes my crap sandwiches no more, dammit!

/bho

ted c on September 12, 2011 at 6:45 PM

All’s that the POTUS is doing is merely pushing an ideological issue that ignores the reality of this Congress’ D/R makeup. If he wanted something to actually pass, he’d creatively craft a bill that would garner the support of both the House and the Senate. Instead, he’s taking the easy route and calling it a failed bill already, just so he can point a finger.

that is not leadership.

ted c on September 12, 2011 at 6:47 PM

Now the media steps in and heaps blame on the Republicans for tanking Obama’s reasonable proposal. Those Pubs will do anything to win an election; don’t care about the nation at all….

And the AmericanIdol/View/TodayShow/Superbowl/PublicSchool/Union/BroadcastNews crowd eats it up.

paul1149 on September 12, 2011 at 6:49 PM

All’s that the POTUS is doing is merely pushing an ideological issue that ignores the reality of this Congress’ D/R makeup. If he wanted something to actually pass, he’d creatively craft a bill that would garner the support of both the House and the Senate. Instead, he’s taking the easy route and calling it a failed bill already, just so he can point a finger.

that is not leadership.

ted c on September 12, 2011 at 6:47 PM

It is merely a protracted version of the snit he got into during the debt fiasco when he stormed out of the room and told Boehner and Reid to work the deal out. He is unserious and inept..

..and in 2012 he will be gone.

The War Planner on September 12, 2011 at 6:52 PM

The Spending Controllers!
===========================

Aug 1 (Reuters) – It is called the Joint Select Committee on Deficit Reduction

and it will have significant power over U.S. government purse strings as it crafts a plan to reduce the federal deficit by some $1.5 trillion over the next decade.
==================================

http://www.reuters.com/article/2011/08/01/usa-debt-committee-idUSN1E7701PR20110801

canopfor on September 12, 2011 at 6:54 PM

Sounds like once again,Team Hopey has found a way,for taxes,
and more spending!

NUTS!!!

canopfor on September 12, 2011 at 6:56 PM

With this plan, we could pay for anything!!!

Cicero43 on September 12, 2011 at 7:01 PM

Like a kid in a candy store handing out goodies to his buds. At the end of the shopping trip, someone’s got to pay. It will always be the rest of us who work and have an income. Heard one of those tax the rich guys on radio today saying it is ok to tax them because they are lucky. They never have a solid % that the rich should pay just take more from them.

Kissmygrits on September 12, 2011 at 7:03 PM

Yeap, lets spend another 10 years worth of possible treasure inflows this year…and prefferably pay it to one party supporters – unions. You see, there is unlimited amount of future money to spend right now, once you see it that way, you will understand that republicans are just stupid and/or racists.

anikol on September 12, 2011 at 7:03 PM

Hey, so can anyone explain to me how it magically became the “deficit reduction super-committee’s” job to stimulate the economy ?

Anyone who was concerned about creating an unaccountable alternative to Congress looks like a genius right about now.

Obama: “Well, golly, no way Congress will pass this POS, so I’ll just dump it on the deficit committee and if 7 of 12 ‘appointed’ bureaucrats like the idea, we’re golden!”

What a pile of crap. You want your BS plan enacted, douchebag, take it to CONGRESS, not the deficit committee.

deadrody on September 12, 2011 at 7:04 PM

Knowing the GOP’s steadfast opposition to tax increases, why would The One shove an allegedly bipartisan-minded jobs plan at them that’s paid for entirely with new revenue?
=============================================

This is pure madness,and isd going to p*ss,er enflame alot on
the Right!

I’ll go back to Boehners infamous tweet,and from that day on
wards,Obama,should of been checked at every stage,this is more
of a Political Game leading up to 2012,for the Social Progressives!
===================================

Boehners Tweet
**************

It’s become sadly evident to me that the White House and Senate Democrats are just not serious yet about enacting real spending cuts
April 5 2011
**************

http://twitter.com/#!/johnboehner/status/55289849791524864

So,back in April,Team GOP knew the game-playing,and dishonset
tactics by the Hopey Regime,and yet,now its September,and the
gameing,er,screwing over,continues!!!!!!!

canopfor on September 12, 2011 at 7:09 PM

No wonder he didn’t want to outline his plan to pay for it during his big speech before both houses last Thursday.

Would have shot his “let’s work together” meme all to hell.

BacaDog on September 12, 2011 at 7:13 PM

Hey, so can anyone explain to me how it magically became the “deficit reduction super-committee’s” job to stimulate the economy ?

deadrody on September 12, 2011 at 7:04 PM

I believe that the President just says, “Make it so.” or some such and Voila! the Deficit Reduction Super-Committee gets a new assignment.

He could just as easily have put the EPA in charge of deciding how many jobs are created and where….

Oh wait.

Lily on September 12, 2011 at 7:14 PM

Stimulus 1 was borrow and spend, this stimulus 2 is back to the old stand by of tax and spend.

Elbar on September 12, 2011 at 7:15 PM

Today’s proposal would fund the new jobs plan with $400 billion via the same sort of deduction rollbacks for the affluent, including the one for charitable contributions

Obama is stealing from the poor to give to the unions.

canditaylor68 on September 12, 2011 at 7:16 PM

Why doesn’t the House put Pres. Obama’s “bill” up for a vote the way it is? The Republicans can vote against it and let the Democrats go on record however they chose. If the Democrats vote against it, the Republicans have political cover. If the Democrats vote for it, their votes can be used against them the next election cycle.

It’s a no lose situation, IMHO.

suburbanite on September 12, 2011 at 7:25 PM

Jeebus…. allow me to sum up our pRESIDENT wirh just 4 words.

HE IS A DYCK.

I know I’m not the first to say it …but it so fits.

roflmao

donabernathy on September 12, 2011 at 7:34 PM

So let me get this straight- Obama’s brilliant plan is to convince the electorate that he, as President, can do absolutely nothing to help with the economy, jobs or anything else because he’s at loggerheads with Congress.

To me that seems like he’s telling America, “Don’t vote for me, vote for my GOP opponent who will be able to work with Congress to get things done.”

Genius, absolute genius…

Jay Mac on September 12, 2011 at 7:41 PM

I saw that poor guy trying to explain the “Jobs Act” on Special Report. Bless his heart.

Cindy Munford on September 12, 2011 at 7:44 PM

We’re past the point of playing games Obama.

This is serious stuff, the problems are immense and all you’ve got is a lame three-card-monty solution that you hope and pray will get you re-elected. Ain’t gonna happen President Do-Nothing. You sir, are a worthless lump of skin and bones.

Man-up or step aside.

fogw on September 12, 2011 at 7:44 PM

Gotta hand it the Obama…

Our first

cowardly lead-from the rear
non-committal
ill-adapting
narcissistic
commonsenseless

President.

Danny on September 12, 2011 at 8:04 PM

Barry does it the Chicago way : mugging.

bayview on September 12, 2011 at 8:21 PM

Did he text or tweet his bill to congress?

Dhuka on September 12, 2011 at 8:22 PM

Yawn. Senate can go first. No way will they get enough votes for a bare majority. This raises taxes on pretty much everybody.

Lots and lots of people Obama doesn’t want to lose make 200k+. And in blue states, you damn well aren’t rich at 200k with kids and an underwater mortgage.

Chuck Schick on September 12, 2011 at 9:16 PM

I hate to say I told ya so…….

Vntnrse on September 12, 2011 at 9:23 PM

Barry,

1) STOP SPENDING

2) STOP SPENDING

3) STOP SPENDING.

Don’t you think we can see what you’re doing? Jeez.

-Taxpayer

disa on September 12, 2011 at 9:33 PM

I saw that poor guy trying to explain the “Jobs Act” on Special Report. Bless his heart.

Cindy Munford on September 12, 2011 at 7:44 PM

Tonight’s show was a classic. I swear, Tucker Carlson and Charles Krauthammer could barely keep a straight face when discussing 0bama’s “jobs” plan, it is such a joke. When each one was talking and the camera was right on them, they kept their composure, but when the camera showed the whole group while one of them was talking, you could see the other smiling and nearly breaking into laughter.

Of course, Juan Williams thinks it’s a great plan….

As for the guy who was trying to explain it, he looked like a complete nervous wreck, and I have zero sympathy for him. Anyone who hitches their wagon to the 0bama train deserves every bit of ridicule that we can throw at them.

UltimateBob on September 12, 2011 at 11:18 PM

http://www.businessinsider.com/obama-jobs-plan-would-raise-400b-in-taxes-cut-subsidies-2011-9

Saw this from Ace, and it outlines the 467 billion in “Cuts” Obama proposes.

itemized tax deductions and exemptions for those making more than $200,000, and families earning more than $250,000 would be cut — raising about $400 billion

A change to bring more hedge fund earnings under normal tax rules … would raise another $18 billion.

cutting subsidies for the oil and gas industries to bring in another $40 billion

and change the depreciation rules for corporate jets

Which has already been estimated at 3 billion over 10 years.

So over a 10 year period we get 400 + 18 + 40 + 3 => 467.

Although I do have to go back to college now. I think my degree in Mathematics has somehow expired.

But look at all those “cuts”. raised taxes on the upper-middle class, raised taxes on investments, raised taxes on oil, and raised taxes on corporate jets… I mean he’s cutting all he can.

Oh, if you’re using the old definition of “cuts’ you’re probably confused. If you start with the assumption that every dollar made in the nation is the rightful property of the Federal Government, that letting you keep any of it is spending, and that this spending costs the government money by not confiscating all earnings.. then you’ll see how this is considered a “cut”.

Which is clearly a description of the premises from which Obama is working here.

gekkobear on September 12, 2011 at 11:50 PM

No, 0bama, you gave up the tax hikes in the debt-ceiling showdown.

Not feeling it -
Go shoot some golf -

cane_loader on September 13, 2011 at 4:09 AM

Wow, he must be insane. He wants to raise taxes on oil companies, and thus on gasoline?

Didn’t he already figure out that his approval rating is negatively correlated with the gas price?

Scott H on September 13, 2011 at 8:03 AM

So individuals making $200K are rich, but families only need to make $250K to be rich? Last I checked, a “family” was at least two individuals and often more, with the “more” being dependents. Is President Obama seriously suggesting a “marriage tax”?

March Hare on September 13, 2011 at 8:54 AM

If you can’t share the wealth, share the blame?

tom on September 13, 2011 at 9:56 AM