Top Dems Provide Fresh Detail On High-Income Tax Proposal That Led GOP To Abandon Debt Talks

[jefferson_dem]

Top Dems Provide Fresh Detail On High-Income Tax Proposal That Led GOP To Abandon Debt Talks

Two of the top Democrats in Congress are calling out their Republican counterparts for abandoning high-stakes debt talks, and have provided new details about the tax proposals that sent the GOP packing.

"To paraphrase speaker Boehner, this was not an adult moment," said Sen. Chuck Schumer (D-NY) on a conference call with reporters. "There needs to be revenues in any deal."

Schumer was not a member of the bipartisan debt discussion group led by Vice President Joe Biden. But Rep. Chris Van Hollen (D-MD) was, and on the call he explained the tax proposals Democrats tried to put on the table that the GOP rejected.

In essence, Van Hollen said, Republicans chose to "protect taxpayer subsidies for big oil companies, tax breaks for corporate jets, and tax breaks for millionaires."

Democrats want to close tax loopholes that benefit oil companies, and eliminate a tax preference that gives corporate aircraft a friendlier depreciation schedule than commercial aircraft. Additionally, Van Hollen said, Democrats were proposing to phase out tax deductions and certain credits for people making more than $500,000 a year. These would be paired with a reduction in the tax burden on lower earners, by eliminating existing limitations on their deductions.

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http://tpmdc.talkingpointsmemo.com/2011/06/top-dems-provide-fresh-detail-on-high-income-tax-proposal-that-led-gop-to-abandon-debt-talks.php

[Peacetrain]

1. Well I hope our side beats them over the head with this..

[jefferson_dem]

2. This is some prime ammo...

They best use it, full scale.

[demosincebirth]

4. ...if the msm will do its part.

[damntexdem]

3. Well, I can certainly see how Repukes, in order to protect tax breaks for their friends and funders

would be willing to bring down the U.S. economy, and perhaps the world economy with it.

[emulatorloo]

6. When you put it that way it is TOTALLY INSANE

I seriously doubt any of their rich friends think it is a "good idea" to destroy the US and World economy.

[elleng]

9. then their rich friends should let them know, dammit.

[TheBigotBasher]

5. K&R

This is what upset them

"These would be paired with a reduction in the tax burden on lower earners, by eliminating existing limitations on their deductions."

[Jakes Progress]

7. Screw more "negotiations" (pronounced surrender in admin terms)

Vote it up. Let each republican go on record defending tax cuts for the Kock brothers and Exxon.

[elleng]

8. 'Let VanHollen be VanHollen,' and beat them over the heads with this!

Dems gotta go REAL PUBLIC with the facts of this.

[ej510]

10. Dems should scream about things like this everyday until the cons come around, so in essence

as long as the earth has humans breathing on it.