Dems seek $1 trillion tax hike,$3 trillion deficit cuts in supercommittee-$500 billion from Medicare

[stockholmer]

http://thehill.com/homenews/senate/190103-dems-seek-1t-tax-hike-3t-deficit-cut

Democrats have proposed more than $1 trillion of tax increases in a $3 trillion deficit-reduction plan that they dropped with a thud onto the negotiating table of Congress’s supercommittee.

The plan proposed Tuesday by Senate Finance Committee Chairman Max Baucus (D-Mont.) and backed by a majority of Democrats on the panel was presented as a grand bargain that cuts entitlements, stimulates the economy and goes much further than the $1.2 trillion deficit cut required under the August debt-ceiling deal. More than 50 percent of the deficit reduction in the plan would come from tax increases, one source said.

Republicans instantly rejected the offer. Aides dismissed the plan as unserious and said the inclusion of tax increases and stimulus spending shows it is merely a political ploy meant to paint the GOP as intransigent.

Democratic aides said the GOP is once again walking away from a grand bargain that would put the U.S. on a solid fiscal ground, noting that Medicare cuts unpopular with the liberal base, reportedly totaling around $500 billion, were included in the deal.


snip

[StandingInLeftField]

1. 500 B...illion!

That's an awful lot of billions...

[indepat]

5. Isn't that tantamount to a +/- $2,000 year tax increase for a couple on

Medicare?

[dtexdem]

2. Thank goodness the Repukes walked away from this bluedog giveaway.

The Rethugs are too extreme to enter a cavern where Dems are caving.

[msongs]

3. of course, they know obama & co will be back with an even greater cave in as usual nt

[truedelphi]

4. 500 Billion dollars of money from MediCare? No wonder OWS has

become a movement in over 320 cities. And on six continents!

Don't forget - the language of the "Affordble Health Care Act" of 2009 already demands that some 500 billions of dolars be cut from MediCare!

So this is one trillion dollars!

[progressoid]

6. Jebus. Image how shitty this will be when the "compromise" is reached

[OhioChick]

7. That was my initial thought n/t

[quinnox]

9. lol, yea, this is just for openers

"Alright, GOP, we will agree to a trillion in social spending cuts and a temporary extension of the Bush tax cuts until 2020, you guys drive a hard bargain!"

[defendandprotect]

8. Two party collusion is paying off for Corporations/elites/MIC/CIA -- !!

[Mojorabbit]

10. I can't tell you all how angry this makes me. nt

[Scuba]

11. Bullshit. Those aren't Democrats, they're Republicans pretending to be Democrats. n/t