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Shocker: Dems Want $1 Trillion More In Taxes!

From the Politico:

Pelosi: Dems will push for more revenue

By SCOTT WONG | January 6, 2013

House Minority Leader Nancy Pelosi said on Sunday that Democrats will push for more revenue in the fight over raising the debt ceiling – an issue Republicans say was already settled in the just-completed fiscal cliff deal.

President Barack Obama had wanted $1.6 trillion in new revenue, but settled for $620 billion raised from higher income tax rates for the wealthy.

“That is not enough on the revenue side,” the Democratic congresswoman from California said during on CBS’s “Face the Nation.” “We’re talking about looking at the Tax Code, closing loopholes and special subsidies for Big Oil – that’s $38 billion right there.”

What a surprise, huh? Who would have ever thought that immediately after raising taxes by another $600 billion that the Democrats would want to raise them even more? We are gobsmacked.

(By the way, there are no "special subsidies for Big Oil." But, apparently, Ms. Pelosi cannot speak without lying.)

Appearing on the same program, Senate Minority Mitch McConnell (R-Ky.) dismissed Pelosi’s call for more tax revenue.

"Well, it certainly underscores the voracious appetite for more taxes on the other side. The tax issue is over. We resolved that a few days ago. …" McConnell said, adding that Congress must now deal with its spending problem.

Unfortunately, if Mitch McConnell thinks tax increases are now off the table and that Congress is going to deal with its spending problem he is even more deluded than Nancy Pelosi.

From The Hill:

Democrats look for up to $1 trillion in new tax revenues this year

By Alexander Bolton | January 7, 2013

Democrats say they want to raise as much as $1 trillion in new revenues through tax reform later this year to balance Republican demands to slash mandatory spending.

You see? We always have to have real tax increases to match these always mythical spending cuts.

Democratic leaders have had little time to craft a new position for their party since passing a tax deal Tuesday that will raise $620 billion in revenue over the next ten years.

They don’t need a lot of time. They are always ready to raise taxes, over and over again.

The emerging consensus, however, is that the next installment of deficit reduction should reach $2 trillion and about half of it should come from higher taxes…

Consensus among whom? The Democrats and the news media?

Liberal and centrist Democrats say revenues collected through tax reform should go to deficit reduction…

Because liberal Democrats are just worried sick about our deficit.

The White House also supports a 1:1 ratio of spending cuts to tax increases as Congress seeks to finish the fiscal work left unresolved by the recently completed 112th Congress

Remember, they are talking about new taxes here. Not the $600 billion they just raised without any matching spending cuts.

But Democrats in Congress are not yet unified on the issue. Sen. Tim Kaine, a Democrat who won his first term in November’s election, said the spending cut-to-tax increase ratio should be higher.

“Obviously that second half of the fiscal cliff is the tough spending decisions,” he said. “During the course of the campaign I often talked about 2-1 as a total. That would count all the spending reductions that have already been agreed to.”

“I think if you’re looking at a 70-30 ratio, somewhere in between 2 to 1 and 3 to 1 , I think that’s a reasonable position,” said newly-elected Sen. Chris Murphy (D) of Connecticut, who noted he is from a “fiscally responsible” state…

Why not promise a thousand dollars in spending cuts for every one dollar in real tax increases. Since the cuts are just a fantasy anyway?

Congress agreed to cut spending by $917 billion in 2011 and to raise $620 billion in additional tax revenues last week, settling on a ratio of roughly 3 to 2 so far…

Sure they have. Meanwhile, we are still waiting for the spending cuts the Democrats promised Ronald Reagan in 1987.

This article was posted by Steve on Monday, January 7th, 2013. Comments are currently closed.

2 Responses to “Shocker: Dems Want $1 Trillion More In Taxes!”

  1. Chrispbass says:

    haha :D

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