Senate Democrats’ budget plan will reopen battle over taxes

[alp227]

Source: Washington Post

Senate Democrats plan to draft a budget blueprint that calls for significantly higher taxes on the wealthy, oil and gas companies and corporations doing business overseas, reopening a battle over taxes Republicans had hoped to lay to rest with the “fiscal cliff.”

For nearly four years, Senate leaders have ducked their legal duty to craft a comprehensive budget framework. Now, however, Democrats see the budget process as “a great opportunity” to pursue additional tax increases — and to create a fast-track process to push them through the Senate, Sen. Charles E. Schumer (D-N.Y.) said Sunday on NBC’s “Meet the Press.”

“There’s going to have to be some spending cuts, and those will be negotiated,” Schumer, the No. 3 Democrat in the Senate, said in an interview after the show. “But doing a budget is the best way for us to get revenues.”

The announcement comes days after House Republicans offered to forgo a potentially damaging clash over the federal debt limit, saying they would vote this week to permit the government to continue borrowing through mid-April. In return, House leaders demanded that the Senate revive the traditional budget process, by which the two chambers adopt their own blueprints and work out differences in conference committee.

Read more: http://www.washingtonpost.com/business/economy/senate-democrats-budget-plan-will-reopen-battle-over-taxes/2013/01/20/dc779300-632b-11e2-85f5-a8a9228e55e7_story.html

[raidert05]

1. wah?

Did something just happen....

[Thinkingabout]

2. The first Senator to get up and suggest putting armed guards in school needs revenue also.

A big reason we are overspending our revenues was the Bush tax cuts. The repubs gave W everything he ask for and we went from the black to red quickly. He also got two unpaid wars started. I am sure we could cut beginning in the Medicare pharmacy plan to have competition like the Veterans dept dies.

In bringing our troops home from Afghanistan will cut about $2b a week. Start an infrastructure repair program, puts people to work and they will be paying taxes and off the social network, more revenues and cost cutting. People wants to work and provide for their families. It is time for oil and gas industry to pay their fair share, mire revenues. Stop the likes of KBR from going off shore to avoid taxes from getting any government contracts. More revenue back into the system. Cut the loopholes enjoyed by the wealthy, it pays them to use the loop holes and ride on the backs of citizens.

[bluestateguy]

3. Nothing in there about fucking around with Medicare or SS

A good first sign.

Kent Conrad's absence is already paying dividends.

[Andy823]

4. Sounds OK to me

Any "cuts" should star with taking away subsidies and tax breaks for the oil companies, corporate farms, all forms of corporate welfare, and those who out source jobs overseas to increase their huge profits! Of course that also would mean cutting costs for the huge military complex that drains the coffers every year. Just cutting the huge amount of waste would save billions from the military budget.

This is a great way to start and it will also force republicans into defending their stand on helping the rich while letting the rest of people in this country shoulder the burden of fixing the mess republicans got us into when Bush was in charge. Start the cuts from the TOP, not the bottom!

[grahamhgreen]

5. Yay! One defends when his strength is inadaquate, he attacks when it is abundant

Thus, what is of supreme importance in war is to attack the enemy's strategy.

- SunTzu

[Dawson Leery]

6. kick

[SteveG]

7. to the mattresses.

I like it.

[ROBROX]

8. TAX THE FAT CATS AND STOP GIVING THEM TAX CREDITS

It is good to know the cash drain for war is ending. It is time to tax and cancel tax credits for big companies. Tax the capital gains and any other profits.

Make the 1% scream because they are paying for their FAIR SHARE.