Yesterday evening we reported the details of House Republicans' "fiscal cliff" compromise offer to the White House, which offered real ideological concessions, to the tune of $800 Billion in new revenues. The plan -- originally conceived last year by the Democratic co-chairman of the debt commission, Erskine Bowles -- also calls for the reduction of both discretionary and mandatory spending, making needed (albeit small-ball) reforms to the largest drivers of our debt. Unlike the president's risible, widely-panned proposal last week, Republicans' new negotiating posture offers genuine compromise: (a) It has bipartisan origins, (b) it achieves "balance," (c) it...
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This game has to be played differently, especially in the light of the peoples’ mandate. We should let the consequences establish our point by having the democrats own their wish. The projected increase in annual income from the administration’s proposed tax increase on those earning over 200K will not be sufficient to run the federal government even for a day. Again “projected” is the operative word here because laws of economics and loopholes will not translate projected to fact. However, the move does have impact on the poor and the middle-class. Simply put, if a business owner has additional burden of taxes in 2013, what does that mean to you - as an employee or job seeker or even as a customer?
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