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View Full Version : Pat Toomey Signals 'Fiscal Cliff' May Push GOP To Accept Tax Increases



Benjamin Parish
07-25-2012, 10:02 AM
WASHINGTON -- Sen. Pat Toomey (R-Pa.) signaled Tuesday that Republican lawmakers may be left with no choice but to accept a deficit reduction deal that includes new revenues as the country approaches the "fiscal cliff."

"It's not clear to me that there may be another way to do it in the future," Toomey said at a Brookings Institution discussion when asked about his party's openness to raising taxes to avoid another fiscal crisis.

In January, nearly $600 billion in spending cuts and tax increases are scheduled to take effect unless Congress can come up with a legislative solution.

"Let me be very clear. I don't believe that adding new revenue in the form of an increase in the total tax burden is either necessary or optimal or economically or fiscally required to solve this problem, because I think it's a problem that arises on the spending side," said Toomey, who served on the 2011 congressional super committee that tried to reach a bipartisan deal on deficit reduction last year. "But we did recognize that it was politically necessary because it was absolutely essential for our friends on the other side," he added, referring to those talks.

Toomey's admission comes amid a growing chorus from top Democrats that they are not afraid to "go over" the fiscal cliff, putting the onus on their GOP colleagues to back a balanced cuts-and-taxes approach before the clock strikes midnight Dec. 31.

"If we can’t get a good deal, a balanced deal that calls on the wealthy to pay their fair share, then I will absolutely continue this debate into 2013,” said Sen. Patty Murray (D-Wash.) at Brookings earlier this month (http://www.washingtonpost.com/business/economy/democrats-threaten-gop-with-fiscal-cliff-as-tax-fight-rages-on/2012/07/15/gJQAvybLnW_story.html). Murray served as co-chair of the super committee.

(Continued (http://www.huffingtonpost.com/2012/07/24/pat-toomey-fiscal-cliff_n_1698210.html))

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What say you of this development?

txradioguy
07-25-2012, 11:11 AM
What say you of this development?

lol

Benjamin Parish
07-25-2012, 11:21 AM
:applause:

Eupher
07-25-2012, 11:39 AM
:applause:

No. 3

Benjamin Parish
07-25-2012, 11:46 AM
No. 3

No. 2

Zeus
07-25-2012, 12:21 PM
Make the Bush Tax Cuts permanent , Reduce spending across the board by 10% to start. Real reductions not a Washington anything less than a 10% increase is a cut.

Benjamin Parish
07-25-2012, 12:29 PM
Make the Bush Tax Cuts permanent , Reduce spending across the board by 10% to start. Real reductions not a Washington anything less than a 10% increase is a cut.

I like the idea of cutting 10% across the board; though, wouldn't it be better to get real tax reform?

Janice
07-25-2012, 12:33 PM
... wouldn't it be better to get real tax reform?

Real tax reform? In Washington?? :rotfl:

They havent made an antidote to the DC kool aid there yet. :cool:

Benjamin Parish
07-25-2012, 12:36 PM
Real tax reform? In Washington?? :rotfl:

They havent made an antidote to the DC kool aid there yet. :cool:

True. We can always dream, though. :very_drunk:

m00
07-25-2012, 12:41 PM
Make the Bush Tax Cuts permanent , Reduce spending across the board by 10% to start. Real reductions not a Washington anything less than a 10% increase is a cut.

And lets also not making it a 10% cut to "proposed increases."

Zeus
07-25-2012, 02:26 PM
I like the idea of cutting 10% across the board; though, wouldn't it be better to get real tax reform?

Gotta start somewhere. Get the economy moving upwards again then battle tax reform. The uncertainty is whats stalling the economy.

Madisonian
07-25-2012, 05:06 PM
Gotta start somewhere. Get the economy moving upwards again then battle tax reform. The uncertainty is whats stalling the economy.

Hey, that's a good one. Never heard that before.
Maybe someone should make it a campaign slogan or platform.