Agorism
12-19-2012, 11:09 PM
My feeling on this plan is it's actually pretty good unless it includes an addition of raising the debt ceiling.
If it does that, then I think it's bad.
http://www.reuters.com/article/2012/12/19/us-usa-fiscal-norquist-idUSBRE8BI19220121219
That seemed to be enough of a distinction for Norquist's Americans for Tax Reform to say the plan does not violate its anti-tax pledge.
"Having finally seen actual legislation in writing, ATR is now able to make its determination," Norquist's group said in a one-page statement. "ATR will not consider a vote for this measure a violation of the Taxpayer Protection Pledge."
The Club for Growth read the bill differently.
"On the substance, this bill is anti-growth," said Andy Roth, the group's vice president for government affairs.
"It increases tax rates for those making over $1 million while also raising taxes on capital gains and dividends," Roth said. "We don't buy into the Washington-speak, suggesting that these are actually tax cuts."
Brent Bozell, president of ForAmerica, a conservative advocacy group, said: "Fiscal conservatives will not stand for this. If Republicans support the tax increase, they will lose control of the House in 2014."
The conflicting conservative assessments will complicate efforts by Boehner to defy a White House veto threat and get his plan through the House and to the Senate for consideration.
Things it accomplishes according to thinkprogress
http://thinkprogress.org/economy/2012/12/19/1359961/boehner-plan-b-facts/
This plan would raise just 15 percent of the revenue of Obama’s campaign proposal to allow the Bush tax cuts to expire on income in excess of $250,000. As Citizens for Tax Justice noted, “millionaires get 50 percent of the additional tax breaks from moving the threshold to $1 million.”
Permanently extends the current estate and gift tax ($5 million at 35 percent and indexed for inflation)
Permanently extends parity for capital gains and dividend taxes, preventing dividend taxes from being taxed at the highest rates
If it does that, then I think it's bad.
http://www.reuters.com/article/2012/12/19/us-usa-fiscal-norquist-idUSBRE8BI19220121219
That seemed to be enough of a distinction for Norquist's Americans for Tax Reform to say the plan does not violate its anti-tax pledge.
"Having finally seen actual legislation in writing, ATR is now able to make its determination," Norquist's group said in a one-page statement. "ATR will not consider a vote for this measure a violation of the Taxpayer Protection Pledge."
The Club for Growth read the bill differently.
"On the substance, this bill is anti-growth," said Andy Roth, the group's vice president for government affairs.
"It increases tax rates for those making over $1 million while also raising taxes on capital gains and dividends," Roth said. "We don't buy into the Washington-speak, suggesting that these are actually tax cuts."
Brent Bozell, president of ForAmerica, a conservative advocacy group, said: "Fiscal conservatives will not stand for this. If Republicans support the tax increase, they will lose control of the House in 2014."
The conflicting conservative assessments will complicate efforts by Boehner to defy a White House veto threat and get his plan through the House and to the Senate for consideration.
Things it accomplishes according to thinkprogress
http://thinkprogress.org/economy/2012/12/19/1359961/boehner-plan-b-facts/
This plan would raise just 15 percent of the revenue of Obama’s campaign proposal to allow the Bush tax cuts to expire on income in excess of $250,000. As Citizens for Tax Justice noted, “millionaires get 50 percent of the additional tax breaks from moving the threshold to $1 million.”
Permanently extends the current estate and gift tax ($5 million at 35 percent and indexed for inflation)
Permanently extends parity for capital gains and dividend taxes, preventing dividend taxes from being taxed at the highest rates