Obama's initial fiscal plan? | TigerDroppings.com

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Lsut81
USA Fan
Member since Jun 2005
64847 posts

Obama's initial fiscal plan?



1.6T in Taxes
Multi Year Stimulus
400B in Cuts

Just saw a news segment stating this is what the Repubs were told in meetings yesterday.

Is this true? I can't find details on the stimulus.


quote:

Geithner’s visit to his office left McConnell discouraged about reaching a “balanced” deal on tax hikes and spending reductions designed to prevent a shock to the economy in January. “Nothing good is happening” in the negotiations, McConnell says, because of Obama’s insistence on tax rate hikes for the wealthy but unwillingness to embrace serious spending cuts.

Geithner suggested $1.6 trillion in tax increases, McConnell says, but showed “minimal or no interest” in spending cuts. When congressional leaders went to the White House three days after the election, Obama talked of possible curbs on the explosive growth of food stamps and Social Security disability payments. But since Geithner didn’t mention them, those reductions appear to be off the table now, McConnell says.



Yeah, thats gonna get the job done







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NC_Tigah
LSU Fan
Member since Sep 2003
52066 posts

re: Obama's initial fiscal plan?


(1) $1.6 trillion in tax increases over 10 years
(2) $50 billion in immediate stimulus spending
(3) A permanent end to Congressional control over statutory borrowing limits.
(4) $400 billion in cuts from Medicare to be worked out next year, with no guarantees.






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Tigerholic
LSU Fan
Member since Sep 2006
1465 posts

re: Obama's initial fiscal plan?


Republicans need to flip the conversation and start talking about the numerous ways money is being wasted.





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Lsut81
USA Fan
Member since Jun 2005
64847 posts

re: Obama's initial fiscal plan?


quote:

(4) $400 billion in cuts from Medicare to be worked out next year, with no guarantees.


frick that, immediate cuts or they need to burn Washington to the ground....






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TigerTattle
LSU Fan
Out of Town
Member since Sep 2007
5037 posts

re: Obama's initial fiscal plan?


quote:

Is this true? I can't find details on the stimulus.
I think it was another one of those "secret" meetings. Can't let the public see what's going on until it's too late for them to argue about it, you know. Anyway, here's all I found about it and it looks like more of the same.

quote:

Republicans familiar with a new White House offer on avoiding the so-called fiscal cliff say it looks almost exactly like President Barack Obama's budget proposal last February.

$1.6 trillion in new tax revenue over the coming decade

Extending the 2 percentage point payroll tax deduction or something comparable

$50 billion in stimulus spending on infrastructure projects

$960 billion over the coming decade by increasing tax rates and taxes on investment income on upper-bracket earners

$600 billion in additional taxes.

Cut health care programs by $400 billion over the coming decade

Cut (modestly) programs like farm subsidies

Cut Postal Service costs

Higher fees on airline tickets

Extending unemployment benefits for the long-term jobless

Defer looming cuts to Medicare payments to physicians

Help homeowners refinance "underwater" mortgages..

Equivalent of a permanent extension of the government's borrowing ability



LINK

eta And this: (Kick that can on down the road)
quote:

Geithner's offer would delay the sequester -- automatic spending cuts to the Pentagon and social programs -- for a year, and effectively eliminates the congressional requirement to lift the debt ceiling in perpetuity. The offer included an extension of unemployment insurance, the payroll tax and even money to help homeowners modify mortgages and invest in infrastructure. "I think there was a leprechaun in there somewhere, too," quipped one GOP aide.


Decouple the high-end tax and capital gains rates from the middle-class rates, extending only those for the middle class.

Revert estate taxes to their higher 2009 level

Raise an additional $600 billion in taxes elsewhere

Tax reform required to raise at least as much as the tax hikes



LINK



This post was edited on 11/30 at 8:35 am


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North Texas Tiger
LSU Fan
Close to Ft Worth TX
Member since Mar 2004
4637 posts

re: Obama's initial fiscal plan?


Ann Romney has a horse.......





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