Nobody Wants A Haircut

A little off the top?

INFLUENCE GAME: Tax Them, Not Us, Groups Say

A big coalition of business groups says there must be give-and-take in the negotiations to avoid the “fiscal cliff” of massive tax increases and spending cuts. But raising tax rates — a White House priority — is out of the question, the group adds.

The homebuilding industry says it won’t tolerate even a nick in the mortgage interest deduction. It doesn’t matter, industry leaders say, if it’s part of a broad, spread-the-pain package designed to tame the soaring debt.

And there’s no ambiguity in the views of the top lobbying arm for retirees.

“AARP to Washington: No cuts to Medicare and Social Security in last-minute budget deal” the group’s Web site declares. AARP nixes the notion of slowing the cost-of-living formula for Social Security recipients, even if it’s part of a big, bipartisan compromise package. And President Barack Obama should drop his idea of raising Medicare’s eligibility age, AARP adds.

So much for the notion of shared sacrifice as Congress and the White House face a Dec. 31 deadline to craft a far-reaching deficit-reduction plan. If they fail, the government tips over the so-called fiscal cliff, at least for a time. Nearly everyone’s taxes will rise, and federal programs will be whacked. Financial markets might quake, and a new recession could begin, economists say.

In Washington, meanwhile, it’s virtually every group for itself, scrambling to protect 100 percent of each tax break and government payout it now enjoys.

America is split down the middle politically, as the last half dozen presidential races have shown. Aside from a few think tanks and civic-minded groups, there’s almost no talk of splitting the pain among interest groups, populations and professions in a manner that seems inevitable if lawmakers are to achieve the trillions of dollars in deficit-reduction both parties call for.

The old adage, “Don’t tax thee, don’t tax me, tax the man behind the tree” was never more in vogue.

The nation debt currently exceeds $16 TRILLION dollars. (Divide that by 300 million to figure out your share.) We could raise taxes to 90% on every millionaire and billionaire in the country and it wouldn’t even put a dent in the annual deficit.

The problem is bipartisan – neither party is willing to tell the truth to the voters and make the hard choices necessary to fix it. Every candidate for president since John Adams has promised to cut waste, fraud and abuse. Some have actually succeeded, but that’s not enough to fix the mess we’re in.

Bill Clinton is the only president in recent history to run budget surpluses – we actually owed less when he left office than when he went in. Then Bush II and Bush III exploded the national debt.

Nobody wants to get their hair cut. They want somebody else to have to make sacrifices. Obama won reelection by promising to keep the gravy train rolling, so don’t expect fiscal sanity to sweep the nation any time soon.

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91 Responses to Nobody Wants A Haircut

  1. I, for one, would be happy to have my tax rates go back to what they were before the Bush so called tax “cuts.” Every year since then we have owed more and more and more. Because it was not really a cut. Just an accounting trick so you get more take home now- but pay through the nose in April if you aren’t careful. The first year of those so called cuts- I had to BORROW money to put into my IRA to get us below the penalty to the IRS for having to little with held.
    Since then we withold at the higher single rate (BOTH OF US!) AND have extra withheld to cover the tax bill.
    And combined we have never grossed more than 62 thousand.
    What tax cuts? We never got any.

    • votermom says:

      Let’s go back to Clinont-era taxes if we also go back to Clinton-era sized govt.
      Balance the damn budget already. Of course first they’d have to have a damn budget.

      • WORKS FOR ME!
        In those days, we used to break even or get a small refund in April. I do not mind paying my taxes- there are good things that come from our shared contributions.
        I totally resent my money being wasted. And it pisses me off to no end to be told I got a tax cut when I know it is not true.

        • myiq2xu says:

          All Bush did was reduce the amount they were withholding from your paychecks.

        • Oh, should also have mentioned that using the married, withhold at single higher rate and having extra withheld every week- we still just break even.
          Under the Bush not cuts- Fed witholding went down to 4%- there is NO SUCH tax bracket.
          We came really close to getting badly screwed that first year- borrowing the money to put in the IRA’s cost less in interest than the penalty and fees the IRS would have charged for underwitholding. Wonder how many people got screwed by that?

        • But myiq, while I’m no fan of the Shrub (h/t Molly Ivins), he did authorize rebate checks. All Obama is doing is giving me savings by taking it from my SS.

      • foxyladi14 says:

        That’s the problem.One first has a budget. 😯

  2. myiq2xu says:

    BTW – 16 trillion divided by 300 million comes out to $53,333.33 for every man, woman and child in the US

  3. votermom says:


  4. votermom says:

  5. votermom says:

    I was just thinking that the striking Hostess union makes the perfect metaphor for the Dems in this.
    They are all about – you can’t possibly limit the growth of this entitlement, or of that program – seriously – the growth – no one is even talking about cutting actual current spending levels – and they will do it until the whole system keels over. And even after it keels over they will blame the other guys.

  6. DeniseVB says:

    People get rich in this country because they’re smart (well except for powerball lottery winners). Don’t you think they’d figure out how to dodge new taxes ? It’s a sport for the wealthy 😉

    Now we schmucks further down on the food chain are being pecked to death by ducks. Costs for products and services will go up and those of us with any equity left in our homes will find a new tax if we’re lucky enough to sell above water.

    Obama and his gang don’t give a sh*t about the middle class. True story.

    • elliesmom says:

      This morning on NPR they said the cost of buying all of the gifts in “The Twelve Days of Christmas” has gone up 6% over last year. Swans have become very expensive.

  7. catarina says:

    Oh goody, tax tawk.

    Took a CPE class last week on Qualified Small Business Stock, or QSBS. This ‘special” stock allows “investors” to pay a reduced Cap Gains tax, or NO TAX AT ALL!
    Yes, really.
    More here:

    Click to access Tax%20Client%20Alert.pdf

    That’s right. For investors in ‘certain corporations,” 100% of Capital Gains can be excluded for tax purposes.
    A gift.
    Please note, no working slob on a W-2 gets any such ‘exclusion.’

    And here comes the ass-kicker:

    Congress passed this little gift to themselves and their wealthy friends
    as part of a bill called, “THE SMALL BUSINESS JOBS ACT!”
    (oh, sorry, was I screaming?)
    Ayup, signed (twice!) by our middle class champion, lord, and savior himself, Bronco Bama.

    And guess what? This might actually be made permanent. Refer to HR 4139 for details.

    Does anyone have a fire extinguisher? I think my hair’s on fire.

    • Erica says:

      It’s things like this that make me have to gnaw my own tongue to avoid yelling at my obot friends when they start talking about 0.

    • Somebody says:

      Oh please they obviously have pictures of Roberts having homosexual relations with midgets and farm animals…….or perhaps they know where all of his offshore accounts are. Doesn’t matter either way the outcome of the ruling is the same.

  8. yttik says:

    There is another way to cut the deficit and that’s to increase prosperity. The more people are working and earning, the more taxes they will pay and the more revenue the Gov will receive.

    Putting your foot on people’s neck doesn’t work, ever. Small businesses will just hunker down and the middle class will just fall into poverty and start costing the gov money, like when they need food stamps.

    I don’t know anybody that has benefited from this 16 trillion in spending. Maybe a couple green energy companies that have taken the money and gone bankrupt, but not poor people, not the working class. Do you feel like somebody just invested 53,000 into each member of your family? I sure don’t.

    • Somebody says:

      I agree completely yttik, the only way out of this mess is to grow and expand our economy. I also think tapping into our domestic energy is pivotal in the expansion. If we have abundant, cheap energy that will help fuel expansion.

      I’m not against raising marginal rates or cutting loop holes or cutting budgets of both federal agencies, defense and dealing with SS and Medicare in some reasonable, fair way. Heck all of the above, but taxes and spending cuts are not the way out of this mess an expanded economy is.

  9. yttik says:

    “The homebuilding industry says it won’t tolerate even a nick in the mortgage interest deduction….”

    Cutting the mortgage interest deduction would be pretty foolish. That is used by small businesses, seniors that itemize, and middle class families. The very wealthy don’t usually have mortgages. Some may play around with the tax credit on a second home or something, but they don’t really have to. It’s foolish to pay interest to a bank just so you can deduct some of it off your taxes. All you’re doing is giving money to a bank rather than the IRS. If the wealthy want to get rich, the mortgage tax credit isn’t going to cut it. However, those working class people who cannot own a home without a mortgage would be facing several thousand dollars in increased tax burdens by having to give their money to both the IRS and a bank. The rich will simply pay off their mortgages.

    • Somebody says:

      100% correct again yttik. The net effect will be to further crush housing values except for multi-million dollar mansions.

    • leslie says:

      “The homebuilding industry says it won’t tolerate even a nick in the mortgage interest deduction….”

      I hope… or else I’m totally screwed.

  10. votermom says:

    Jayzuz. I think I’m going to be sick.

  11. HELENK says:

    WOW disagreeing with jamie foxx’s lord and saviour can ruin Christmas per the white house

  12. votermom says:

    • HELENK says:

      don’t tell the obots, they think he is one of them

    • SHV says:

      I was just thinking about “Barry is one of US”. The evil Bill Clinton was probably the poorest person elected to the Presidency since U.S. Grant(?). The Clinton’s were certainly the poorest leaving office; owing millions in legal fees.

    • DeniseVB says:

      Hmmmm, his commission on his books the State Dept bought to hand out as gifts ?

      • angienc says:

        The book sales is the cover story — just like OFA was able to turnout the base in exactly the right amount in those few critical precincts in the swing states combined with those DailyKos polls is the cover story for how Obama “won” the election.

  13. HELENK says:

    remember when American’s were taught ” you break it , you buy it”?

  14. Stern Warning says:

    Would you PUMA wingnuts please start predicting that there will be a huge Republican landslide in 2014? It’s pretty much established that the opposite of everything you predict occurs, so I’d greatly appreciate it if you started howling about 2014 now. Thanks.

    • indigogrrl1 says:

      ya know… next time your guy won’t be the one installed and it will be YOUR vote that gets stolen.

    • We’ll see how this commenter’s tune changes once Obamacare hits full force.

    • angienc says:

      If you support Obama you are (1) stupid (2) corrupt or (3) a sociopath, or some combination thereof.

      Whatever your particular combo may be is irrelevant — your opinion on anything means less than nothing. You voted for a man with kill lists — who brags about his kill lists — and who has made habeas corpus disappear via executive fiat. You think cheap money & no jobs is a “plan” because you are too stupid to see that under Obama’s policies the mega-rich are getting richer while everyone else is getting poorer. You actually believe the most idiotic things — such as the US Tax Code gives “tax breaks” to companies for shipping jobs overseas — simply because Obama says them, and despite the fact that these claims can be easily researched and shown to be the lies that they are.

      In short: you are a useless fuck who produces nothing of worth in society and needs the government to tell you what to do and whose life is so pathetic that you cling desperately to a false idol to try to bring some meaning into your life. Good luck — the rest of us here are capable enough to take care of ourselves no matter what comes our way. You, OTOH, are getting ready to experience a world of hurt for which you are completely & utterly unequipped to handle.

    • angienc says:

      You are a sociopath, a liar, a moron or some combination of the three. Why the fuck would we care what you think?

    • catarina says:

      Let me guess-they told you that you were voting with the *smart* people, right?

      Poor confused fuckwit.

    • DandyTiger says:

      I predicted a horrible Republican would win the presidency in ’08 and ’12. And I was right.

  15. tommy says:

    Honk, honk, honk a gazillion times, yttik. Thats WJC in a nutshell. He was a growth democrat, and never a redistribution democrat. Obamacrats will never figure that out. WJC led a lean, mean govt. machine that was effective. He was pro-business, understood their probs, and he actively encouraged them. Todays progs treat corporations like enemies, rich people like ‘traitors’ and hobble them with regulations. Where the eff is the growth gonna come from? Oh yeah, big govt. An ideal recipe for economic disaster.

  16. HELENK says:

    a great Christmas gift.
    I will be buying this for my great grandsons

  17. carol haka says:

    I think it is absurd to blame George W for the exploding debt. 2 wars, Democratic congress, Dems running the Mortgage Fraud Assault. The only person on the Dems side ever worried about the immpending Housing collapse was Hillary, and they gutted her. That’s my recollection on a moments notice. 👿

    • yttik says:

      Actually George Bush tried twice to do something about the impending mortgage crisis before it ever happened. George Bush and Hillary Clinton were the only two people who saw it coming. Trippy, huh? Well, I saw it coming and so did thousands of other Americans, but I mean they were the only two in Gov to try and pass policies to fix it before the $hit hit the fan.

  18. tommy says:

    Now that you remind me myiq, I really need a haircut. Looking into the mirror lately is annoying. Too damn long, no structure. Yep, need a haircut pronto.

  19. HELENK says:

    as an ex-smoker this story made me laugh

    deer attacks two men and steals their cigarettes. talk about having a nicotine fit

    • yttik says:

      That is hilarious! Deer are becoming a real problem where I live. I was actually attacked twice as a kid by deer, don’t ask me why. Today we have so many deer unafraid of people, that our tourists are getting injured. People forget they’re wild animals and try to pet them and they get attacked.

  20. votermom says:

  21. HELENK says:

    more use of northern sea route for shipping. wonder how this will impact future energy costs and exploration

  22. HELENK says:

    way off topic

    what is wrong with the muslim men that these sick twists feel the need to attack woman as a past time???

  23. HELENK says:

    setting up insurance exchanges will be a nightmare and many Americans will be shocked

  24. foxyladi14 says:

    I agree the way to cut the deficit is to increase prosperity.
    JOBS that is the answer. 🙂

    • votermom says:

      Jobs is so 20th century. These days we just protest and vote for handouts./ows

    • insanelysane says:

      That was the whole message Mitt Romney was trying to get across and nobody wanted to hear that.
      They were much more concerned with Big Bird and Binders and slapping those rich greedy bastards with an insignificant tax increase that would not solve anything.
      As a voter who did not vote for Obama….I am disgusted by the immaturity and gullibility of the voters in the US who voted him back in.

  25. HELENK says:,0,3827408.story

    two special elections in Illinois because of jesse jackson jr.
    one to replace him to finish out his term

    one to replace him in the seat just won in Nov.

    a hell of a lot of money wasted because voters did not think and now it will cost them

  26. HELENK says:

    I just got a catalog in the mail

    they have BACON flavored popcorn and BACON flavored cocoa
    also bacon salt

  27. angienc says:

    For the love of God, this happened:

    They really do worship Obama, that’s why they don’t care what he does, just as long as he’s President. The outcome of this election did not come from a place of great intellectualizing.

    • angienc says:

      BTW, have to love the artist’s complaint that his original 2009 showing was canceled:

      “I always regretted cancelling my exhibit in New York because I feel my First Amendment rights should override someone’s hurt feelings,” D’Antuono told Fox News. “We should celebrate the fact that we live in a country where we are given the freedom to express ourselves.”

      How much do you want to bet this guy not only didn’t blink an eye when Obama said at the UN that the “future must not belong to those who slander the ‘prophet’ of Islam” but was the first to condemn Romney for saying that the Obama administration shouldn’t apologize for the First Amendment?

    • lyn5 says:

      I posted this on my FB page.

    • Erica says:

      I rarely get riled up about pop culture references to religion, but that picture of him really bothers me. Newflash obots: Obama is not Jesus, he’s not been crucified, he doesn’t love the poor, and he doesn’t belong to the truth.

  28. Propertius says:

    According to the Bank for International Settlements Exchange-Traded Derivatives page ( the turnover in exchange-traded derivatives in North America exceeds 160 trillion dollars per quarter. That’s . With a t. That’s over four times the Gross World Product (the total value of all goods and services produced on the entire planet annually). Every quarter. There’s no transaction tax on these trades.

    A 1% transaction tax on derivatives trades would completely eliminate the national debt (not the deficit, mind you, the entire debt) in less than 3 years, without any spending cuts or increases in individual or corporate income taxes. It would also dampen the sort of derivatives speculation that caused the 2008 collapse and subsequent Great Recession

    Note that none of our Wall Street funded politicos (of either party) has suggested this.

  29. myiq2xu says:

    • Propertius says:

      I’m as big a fan of Iowahawk as anybody. I think he’s probably the best political satirist currently writing (in print or on the net). I think you’re missing the point, however. As I said, there’s no need to increase income taxes for anyone – even if you accept the questionable notion that the deficit is a crisis requiring immediate action. The derivatives market dwarfs the entire real economy of the whole planet – in the US alone it is, in fact, about 16 times larger than the whole world’s “real” economy. There’s over 600 *trillion* dollars in unregulated and untaxed trading activity there just in the US. Worldwide, it’s well over a quadrillion dollars. A 1% transaction tax on derivatives trades would produce an immediate budget surplus. In fact, you could completely eliminate individual and corporate income taxes and still run a surplus of over 2 trillion dollars next year.

  30. John Denney says:

    It’s ugly. This link from a savvy financial friend.

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