The *Budget Fight* Thread (Jan-Feb-March 2013 Edition)

[chipwhich]

Yes, he raised taxes in 1993 and then came 1994.

Raising taxes and cutting spending are usually, if not always, politically difficult and risky things to do. We cannot even start this conversation If we cannot get agreement on that.

No disagreement there.

[SpringfieldSkins]

Could've raised taxes when the housing market was booming, but we didn't.

We were on this jolly course of, "Hey, things are great, why change it?". So we didn't raise taxes then and here we are. I will admit, for the low taxes is good for business folks, that in hindsight it's a good thing that we didn't raise taxes then because of the sham that was the housing bubble. But hey, the dot com bubble was a sham as well and it got our budget balanced.

I don't see anywhere that the Bush tax policy has actually helped our economy.

[mcsluggo]

http://http://cdn.pjmedia.com/instap.../bushchart.jpg

I can't see the picture

[Larry]

I can't see the picture

[mcsluggo]

i see... so i assume the point of the picture is to point out that even in the face of the most significnat economicdownturn in 80 years, spending only very temporarily blipped above its long run growth trajectory, but governemtn revenues have been hammered badly....

so TWA... are you saying we need to raise taxes ?

(this chart would be much more useful if the y-axis was %-of-gdp, ratehr than straight $$$)

[Thiebear]

I got a letter from work showing 2013 vs 2012
And I'm around 150 $ short. I'll get the details but
I'm hoping this isn't the deal as this doesn't seem
Any diff than the cliff

[The Evil Genius]

I got a letter from work showing 2013 vs 2012
And I'm around 150 $ short. I'll get the details but
I'm hoping this isn't the deal as this doesn't seem
Any diff than the cliff

Likely it's because your SS contribution reverted back to 6.2%.

It had been 4.2% for the last 2 years.

[Larry]

I got a letter from work showing 2013 vs 2012
And I'm around 150 $ short. I'll get the details but
I'm hoping this isn't the deal as this doesn't seem
Any diff than the cliff

Everybody in the US who has earned income, got a 2% pay cut, as part of the deal that the media keeps insisting on describing as "shielding everybody who makes less than $400K from a tax hike".

(Well, everybody with earned income that's less than $110K, per person. Everybody who makes more than that, lost 2% of $110K.)

That said, though, it's possible that your payroll department were forced to assume that all of the tax cuts expired. Their estimate may be based on the assumption that you got hit with the payroll tax and the income tax increases, both.

[Tulane Skins Fan]

Everybody in the US who has earned income, got a 2% pay cut, as part of the deal that the media keeps insisting on describing as "shielding everybody who makes less than $400K from a tax hike".

(Well, everybody with earned income that's less than $110K, per person. Everybody who makes more than that, lost 2% of $110K.)

That said, though, it's possible that your payroll department were forced to assume that all of the tax cuts expired. Their estimate may be based on the assumption that you got hit with the payroll tax and the income tax increases, both.

Also, payroll tax holiday expired.

[The Evil Genius]

Hey look, 3 posts in a row saying exactly the same thing.

[Gallen5862]

http://www.washingtonpost.com/politi...46f_story.html

Congress passes $9.7 billion in Sandy aid, with some House GOP dissent


Congress has approved $9.7 billion in new aid for victims of Hurricane Sandy, with a face-saving quick move by the House taken three days after Speaker John A. Boehner earned scathing criticism from New York and New Jersey Republicans for canceling a late-night vote on the funds.

The bill, which will allow the Federal Emergency Management Agency to pay out claims to those who held federal flood insurance, was approved in the House on a 354 to 67 vote. After the House action, the Senate also adopted by bill in a quick unanimous voice vote, sending it to President Obama.

[The Evil Genius]

Even single no vote was GOP too.

Glad to see that some of them still continue to put politics over everything else.

[twa]

Even single no vote was GOP too.

Glad to see that some of them still continue to put politics over everything else.

Vs those that put pork above everything else

[The Evil Genius]

Vs those that put pork above everything else

This was a pork bill?

[Tulane Skins Fan]

Hey look, 3 posts in a row saying exactly the same thing.

And a payroll tax holiday had something to do with it too.