PDA

View Full Version : Obama Proposes PAYGO Law



thinker
06-09-2009, 07:46 PM
http://www.cnn.com/2009/POLITICS/06/09/obama.paygo/

Sort of a fluff weight article, but useful as a conversation starter.


<snip>Any extra cost that lacks payment authorized by Congress would require the president to find money within the budget to pay it, while any tax cut would require a corresponding increase in tax revenue.

Some costs would be exempt, including Medicare payments to doctors, the estate and gift tax, and tax cuts enacted in 2001 and 2002, the White House statement said.[end of article]

Kinda like shutting the barn doors after the herd (TARP, budget) got out, but hey, never too late to start, right?

Rockntractor
06-09-2009, 07:53 PM
He still doesn't realize that lowering taxes can bring in more revinue.

lacarnut
06-09-2009, 08:52 PM
What this means is that Obama and the Democrats will use smoke and mirrors for their spending but that same method can not be used for tax cuts. For example, the health care plan will use projected saving which may or not be accurate but extrapolation of tax cuts is a no go. Obama and the Democraps are clever.

PoliCon
06-09-2009, 08:57 PM
Does the article tell which items would not be included in paygo? You know like - entitlements - bailouts - those sorts of things . . . .This is nothing more than a way for them to justify raising taxes.

thinker
06-09-2009, 09:04 PM
States that it will affect all spending going forward, but not specific items mentioned and also no retroactive balancing. Like I said, closing the barn doors after the herd got out.

lacarnut
06-09-2009, 09:07 PM
. . . .This is nothing more than a way for them to justify raising taxes.

True, doubling the Fed gasoline tax is next. These monkeys in DC would like to add a buck or two onto the 18.4 cents per gal tax. Gotta pay for all that green energy.

PoliCon
06-09-2009, 09:35 PM
True, doubling the Fed gasoline tax is next. These monkeys in DC would like to add a buck or two onto the 18.4 cents per gal tax. Gotta pay for all that green energy.

Of course! Because it's too stupid and backwards and inefficient to pay for itself. :rolleyes: FUNNY THING that Barry says that these terrorist supporting nations have the right to nuclear power - and yet - we don't. :confused: