Are Democrats done hiking tax rates?
“This does settle the issue of rates for individuals,” Rep. Allyson Schwartz (D-Pa.) told POLITICO. “That’s good. That certainty and predictability is one of the gains” of the fiscal cliff legislation.
Michigan Rep. Sander Levin, the top Democrat on the tax-writing Ways and Means Committee, agreed. When asked whether more rate increases are in the offing, he responded, “I don’t foresee that.”…
But if higher tax rates are off the table, Democrats will need alternative sources of revenue. They say they’re moving their focus to money that can be gained by closing so-called loopholes in the Tax Code and limiting the amount that can be claimed in deductions — provisions that tend to benefit top earners disproportionately.
“A lot of us are disappointed that we didn’t get more revenues as part of this package,” said Rep. Peter Welch (D-Vt.), who argued that revenue will be needed to support entitlement programs. “Democrats are going to have to be candid that this is not going to be solved simply by raising rates on the top 2 percent.”
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Of course they aren’t done – they’ll never be done.
All they have is a hammer. Every problem, therefore, is a nail.
Good Lt on January 3, 2013 at 1:01 PM
Rush just said that some d’s in dc want to get tax rates pre-Reagan at around 70%? These money grabbing won’t stop spending are going to do all they can to make the US a below third world nation if someone anyone in dc doesn’t stop them? It sure seems we citizens have zero input making our elected help us?
L
letget on January 3, 2013 at 1:04 PM
I’ll take “Two Letter Words Starting With ‘N’” for $1,000 Alex.
BigGator5 on January 3, 2013 at 1:04 PM
Drained Brain on January 3, 2013 at 1:06 PM
They wouldn’t be happy if they were able to tax everyone at 110% of their income and wealth.
Takers are like that…always want more.
ProfShadow on January 3, 2013 at 1:07 PM
Yes – Democrats are done taxing. They are also done spending.
And the GOP will stand up to them and get meaningful entitlement reform, regulatory reform and scale back the size of government.
I’m also huffing paint.
gwelf on January 3, 2013 at 1:07 PM
Democrats seek 100% tax rates. They want total control of all production and consumption. They want permanent power. They want slaves.
Anyone who does not see this is too naive to be free.
weew on January 3, 2013 at 1:09 PM
Was yesterday the last time it will rain?
petefrt on January 3, 2013 at 1:10 PM
Rebar on January 3, 2013 at 1:11 PM
Politico, you’re joking, right? Or are you freaking demented?
dogsoldier on January 3, 2013 at 1:11 PM
This is true, and also the tell that they’re going to keep raising taxes in perpetuity.
They’ll always find another bullsh*t ‘reason’ to do it.
Reducing spending and the size/scope of government is not in their vocabulary. Never will be.
Expanding the ever-gaping fiscal suckhole of the federal government is their sole reason for living.
Good Lt on January 3, 2013 at 1:12 PM
Rich people can always pay out a few more pennies.
El_Terrible on January 3, 2013 at 1:14 PM
Ah, yes. A “balanced” approach of more taxes coupled with more spending and then balanced out with even more taxes with the net effect of 3 additional dollars of spending for every one dollar of new revenue. Don’t worry, we’ll make up the deficit in volume.
Shtetl G on January 3, 2013 at 1:16 PM
You’re not going to get any more revenue … in fact now you’ll probably get less.
If you want more revenue the best way is to get people employed in the private sector. Lower taxes, get rid of the mindless regulation, and cut spending. But hey, who am I kidding … you people are nuts.
darwin on January 3, 2013 at 1:16 PM
It’s ok, America will get what is coming to it some day.
BigGator5 on January 3, 2013 at 1:18 PM
politics: n. pl. from the Grk polis, meaning many, and the OE ticia, meaning blood sucking insects.
agmartin on January 3, 2013 at 1:20 PM
LOL. Is the class war ever over?
The America-haters are just getting started and much of the GOP has aided and abetted these enemies of civilization. As has been going on for the past two years …
ThePrimordialOrderedPair on January 3, 2013 at 1:24 PM
Can Maerose Prizzi close her eyes to sleep at night?
Resist We Much on January 3, 2013 at 1:28 PM
They’re backed into a corner. When every cut or reduced increase is painted as murdering grandma, children, orphans and puppies, what else can you do but raise taxes?
VATs and such incoming
Dash on January 3, 2013 at 1:30 PM
liberal definition of “balance”– 1:1 ratio of tax increases to defense cuts
The answer is YES, they are done raising taxes– because we need to now hold the govt hostage against any further taxes
They got their precious class warfare tax increases. They held the Bush rates for the middle class hostage, and we caved
They now have no leverage
Time to shut the govt down if they won’t cut anything
NO MORE TAXES
thurman on January 3, 2013 at 1:34 PM
Of course not. Those pesky rich people still aren’t paying their fair share!
stvnscott on January 3, 2013 at 1:34 PM
Yeah, “loopholes” are next. They won’t be called deductions again until they need to reach down far enough down the income scale that people catch on. They key is to get enough mouth-breathing welfare queens to the ballot box like 2012 to blunt the eventual backlash from Joe Taxpayer. So far so good.
The Count on January 3, 2013 at 1:41 PM
No, plus, the Rs are not done either.
Schadenfreude on January 3, 2013 at 1:41 PM
Obama hates the middle and lower classes. All else is bunk.
Schadenfreude on January 3, 2013 at 1:42 PM
Of course they are done.
Muggers always leave behind some cash in your wallet.
Don’t they?
justltl on January 3, 2013 at 1:56 PM
Leftists, Democrats and libs are a fascinating disease.
justltl on January 3, 2013 at 2:04 PM
Don’t let them keep saying “revenue” when what they mean is “tax”! Twisting language is their favorite trick.
S. Weasel on January 3, 2013 at 2:45 PM
They’ll stop at 100% and not a moment sooner.
MelonCollie on January 4, 2013 at 9:02 AM