Tuesday, March 5, 2013

Republicans wrong about Obama's Job Killing tax increase, Revenue Loser.

If you are over your head in debt, you two choices; go bankrupt or increase revenues and pay it off.

But we had another choice: If the Republican Party claimed increased revenues (taxes) are a job killer, and the reverse (tax cuts) would bring in more money, than what is happening right now is not possible.

Big problem!! So what can Republicans do to change the narrative and not look like con men? They have to spin-away being this wrong (spin highlighted):
Fox News: Recent estimates may lend credence to Republican claims that the federal coffers are well fed on taxes. The Congressional Budget Office estimates the federal government is on pace to bring in a record $2.7 trillion in tax receipts this fiscal year. The increase reflects a steady post-recession rise in revenues. They ticked up 6 percent in 2012, but according to the CBO could jump 11 percent in 2013. The expected tax boost comes after Congress allowed for an increase in tax rates for top earners, and for the expiration of a 2-point payroll tax cut. The agreement will play a big role in boosting revenues this year -- and is also the No. 1 reason cited by Republicans for not wanting to agree to more tax increases as part of a new budget deal. 
Tax increases work. They didn't kill jobs, or tank Wall Street. Business owners didn't suddenly close up shop. Surprised?

And who’s reminding Americans how wrong Republicans were?

But here’s the rub; Republicans spent like drunken sailors between 2001 and 2008 and left Obama with a $1.2 trillion deficit. Now they don’t want to pay it off with increased tax revenues. Instead they want to skip right to tax rate cuts (revenue neutral even), and slash safety net programs. It’s faster that way and...doesn't make any sense. 

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