Not So Fast

PathtoPoverty

Deputy majority whip Representative Tom Cole (R-OK) made waves yesterday when he said that new revenue will be “on the table” during budget negotiations, but Budget Committee Chairman Paul Ryan (R-WI) says not so fast.

“Chairman Ryan wants to find common ground with his colleagues to pay down the debt, provide relief for families, and grow the economy,” the spokesman, William Allison, told The Hill in a Friday statement.

“Chairman Ryan believes the best way to raise revenue is to grow the economy. We should not take more from hardworking families to spend more in Washington.”

In the vernacular, Paul Ryan is saying that the best way to raise revenue is through tax cuts for the rich and osmosis.

I am not very optimistic about the coming budget conference.

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  • muselet

    Anyone who thinks Tom Cole advocated for higher taxes is delusional.

    Rep. Tom Cole (R-OK) … wants the newly formed budget conference committee — of which he is a member — to reach a deal that includes entitlement changes and some added revenue via curbing tax loopholes (but not by raising rates).

    “Well, I think that’s possible,” Cole said …. “I think both sides would like to deal with the sequester. And we’re willing to put more revenue on the table to do that, and we would like to do it with entitlement savings.”

    The congressman said a deal “could” include curbing tax loopholes, although it “depends on what they are.”

    “Entitlement savings” translates from the original weaselspeak to “zombie-eyed granny-starving,” and if history is any guide, the “tax loopholes” that will be targeted will be those portions of the tax code that benefit the poor (never forget, the Right considers EITC a tax loophole). So what Tom Cole offered was to cut benefits to those who depend on them and make the poor pay more in taxes in exchange for ending the sequester (presumably only because he hates! hates! hates! the coming cuts to defense spending).

    In other words, Tom Cole is willing to negotiate to get everything the Rs want if the Rs also get something else they want. Paul Ryan’s spokesman’s statement reiterates that.

    If anything, Ashby, I’m less optimistic about the budget conference than you are.

    –alopecia

    • JMAshby

      I don’t know. I think the best case scenario is preserving the status quo in terms of taxes without having another shutdown.

      I just don’t think removing loopholes can make it through the House even if you call it the “Deny Rat Bastards Their Loopholes Act” because the House is pro-Rat Bastard.

      • muselet

        If I were a bookmaker, I’d set the odds of another shutdown at 3:5 right now (when I’m feeling particularly pessimistic, 2:7). The Rs have decided never again to negotiate anything—even by their peculiar definition of negotiation—without taking a hostage, and members of the tribe who are louder of mouth and smaller of brain have said the budget would give them great leverage.

        I never underestimate the Rs appetite for destruction.

        –alopecia

  • 1933john

    It will be the same old shit until November 2014.
    Hopefully, after that, the Clown Car will tow the
    Monkey Cage back to Texas.

  • Churchlady320

    Well of COURSE new revenue will be in the GOP plan. Take the money from food, shelter, healthcare, income supports and direct it to the corporate CEOs. What could be easier to understand?