Nancy Pelosi, the House Democratic leader, says any deal to avoid going off the "fiscal cliff" must include higher tax rates on the wealthy, reports The Hill. "Just to close loopholes is far too little money ... If it's going to bring in revenue, the president has been very clear that the higher income people have to pay their fair share," Pelosi said on ABC's "This Week".
President Barack Obama has suggested repeatedly since his reelection that in negotiations with Hill Republicans he'll push for a return to Clinton era tax rates on high-income earners. But he's not said it would be a deal-breaker.
Pelosi's comments come days after she announced she would stay on as minority leader. Pelosi made history as the first woman speaker after House Democrats won the majority in 2006.
Her insistence on raising taxes on the rich isn't likely to find many dissenters among her troops. Voters have largely purged moderate and conservative Democrats from the House, leaving mostly "pure" liberals who insist higher income on the rich is a matter not just of good economics, but social justice.
I can tell you I disagree with Politix' policy. Talk about a misleading, inflammatory headline. Asking the wealthy to pay more when they have benefitted so much from this nation is not "soaking the rich." And the writer who titled this story knew it, too.
@TheViper Hell, I ain't rich but, like the rich folks, I pay 14% on investments. You need to check your 401K exemptions and retirement savings. When you raise tax rates you might just screw yourself along with the rich. Or, maybe your boss will see fit to stop any matching funds to your retirement savings. Businesses will do two things...cut their overhead (that includes labor and benefits), raise the price on the things they sell. No matter what you think, the cost will be passed along to the consumer....that's me and you. I am already being hit by Obamacare, my routine medical and insurance costs are up about 18%.
@TheViper We pay a lot more in total dollars. do you get less gov't? no, no you do not. we have a very progressive tax system in the US, and we should. but again, how much will ever be enough for those that want others to pay their way for them?
Who said anything about $10 but you? Would you rather the wealthy pay more, or YOU pay more? That's what it is gonna come down to. And what FREE things are the freeloaders getting? And furthermore, what makes you think that YOU aren't one of the freeloaders?
@FollowTheMoney The only problem with that, is there WILL be loopholes, and you can guarantee, the loopholes would NOT be for the middle class or poor tax payer. If there were a way to enforce such a policy, then yes, I would also be for it. But there is NO WAY the oligarchy is going to let that happen. They'll always hide behind the excuse "but we're the job creators" to dodge paying their fair share of taxes. They do it now, they have done it for years.. who ends up paying for it... the middle class. Who gets blamed? Those who have hardly anything to begin with.
q@Jackie312gm on THIS particular issue it's no empty promise, Bohner & McConnell have just about agreed to it enjoying retirement ? I Awaken with nothing to do, but I'm never fished ay the end of the day
Worse than that Zoe. Not only do some "not pay tax at all", too many get a refund that amounts to 40%(or more) of their yearly income. Child care credit....WTH. I wasn't there for the recreation/procreation of these children....and I have to pay (additional) taxes for them. Jeez, I already support them through (too) many social programs! Just sounds like I pay child support, only I don't get them on weekends (Thank goodness).......LOL.
@Phreakwars Not hardly, in addition to the payroll tax, we pay quarterly. Frankly, I am sick and tired of paying for a bunch of losers. Top it off with sales tax, property tax and on and on. Nancy can jump in a lake of Botox!
I completely agree with asking the ultra-wealthy to pay their fair share. For too many years the rich have gotten richer and the poor and middle class have fallen behind. It about time that they pay a little more. This will not only help to reduce the debt but will help to level the playing field. PolitixDavid should be ashamed of himself for the "soaking the rich" comment.
Jeez, are you that old? LOL I believe BOTH closing the loop holes AND increasing the tax on the (ultra) rich will help. Just HOW MANY houses, cars, airplanes, maids, butlers, nanny's, vacations and etc does it take to make you happy? For me, the number is 1, 2, and a bunch of ZEROS after that (including the vacations)!
"Pelosi's approach" looks a lot like a small (<5%) increase on income of $250,001and above, which is the party platform. Hardly "soaking the rich'" a group that includes both Rep Pelosi and the President.
To the moderators: Why did you remove that post. What I wrote was no differant than a section in mad magazine. Political figures are open game for that sort of thing. I was not attacking anyone who posts in here personally. I dont like nancy pelosi for lots of reasons, her politics obviously, so I just drew a caractiture of her for people. Your censorship keeps people from expressing themselves the way FREEDOM of speech should allow them to. I know I am on a private site therefore here only by your allowing me to be. But boredom at not being able to say anything that might OFFEND anyone may make me go away long before you need to tell me to go.
@Denizen_Kate I noticed politix removed my post, which was nothing more than a satirical caractiture of that woman. I do apologize for attacking you personally in earlier posts, it was boorish and beneath me. However, that woman, who is in a position of leadership, passed a bill (the healthcare bill) without reading it. Said "we can find out whats in it after we pass it." Why? Because she didnt CARE what was in it, she is still just a cheerleader at heart and was just putting a rubber stamp on what barry wanted. RAH RAH RAH. How can I give her the respect she and most american women expect, just by the FACT she is a woman, when she wont do a JOB she was sent to do. That is my biggest problem with american women. I can do anything you can do, but I wont, because I might break a nail. I can hold the door open myself, but I wont, thats your job. Women in combat? sure, but as soon as one goes P.O.W. get out the boo hoo stories about what might be happening to her and send in a seal team to risk thier lives to save one that shouldnt have been there in the first place. American feminism. scyzophrenic and narcissistic. What about those women in middle east countries who have the right to sit down and shut up. Do you even care about them? Where is jane fonda on that one? where are you?
@CATTLEPROD - okay, now you're going at her for the issues, and that's fair game. I don't like her politically either, so no argument there. As for feminism in America, while I can understand your frustration, perhaps you can understand mine. I have two brothers. I got better grades in high school but was told by my blue collar parents that there was no college money for me. I was forced into typing and bookkeeping classes so that I "could get a job as a Secretary until I found a husband." My brothers were encouraged to apply to colleges. Neither of them finished and I'm the one with the six figure income. I've had to achieve everything the hard way and there were times when male coworkers doing the same job were paid more. I've come to abhor double standards in our society. As for women in other countries, yes I do think about how much worse it is for them and that's why I contribute when I can to orgs like Doctors Without Borders and support the recent UN resolution naming access to contraceptives as a basic human right.
Sorry for such a long post, but your comment was thoughtful and I wanted to reply in kind.
@Denizen_Kate wow, talk about having to walk in anothers shoes to get thier point of view. I am sorry to hear about the hurdles you had to overcome, especially put there by family that is worse, but it makes me wonder why you arent a republican as a result and if so I misread you. I know I come off as a mysogonist, I'm not, I am chauvanistic, I admit that, I have always thought women and men are like right and left hands. There are some things one does better and some things the other does better and together its perfect. But certain areas I am just a solid no-go about. One is women in combat, you know why about that, another would be woman cops. I saw a video one day of a woman cop pulling over an at large felon and getting completely beaten down by this guy. I just think there are certain things we do better, certain things women do better, math and science among them, and american feminism tries to blur those lines too much. And then gets in my face about it to the point I cant even watch t.v. hardly, because the only role for white guys are the clueless boyfriend in need of assistance from his girlfriend, or gay.
Just shut down the governments out of control spending .. soaking the rich will help.. it will only make the middle class suffer more & raze costs .. all you have 2 do is look at California 2 see how the dem plain kills ..
I've asked this before... How much do we tax them? 50%? 60%? 90%?
I say to John Boehner, let them have what they want with a little bit of advice in that the American people will be watching, and if there is no decrease in the debt, but an increase in spending, then the Democrats in the House and Senate will be in serious trouble in 2014, as well as the WH in 2016.
Yes, illegals still harvest her multi million dollar vineyard empire, that's why she's fought so hard for them to come here"illegally". I have no problem with anyone, from any where coming here, my ancestors came from Italy...but, we can not just leave our borders wide open for anyone to come in...unless you pick grapes for old Nanny!
I agree that a tax increase for the rich, along with other measures to free us from the fiscal mess that is strangling us, is the way to go. If this is her approach, it is acceptable to me. If this is not her approach, then that hypocrite should take another $30,000 ride in in an air force jet.
I agree that a tax increase for the rich, along with other measures to free us from the fiscal mess that is strangling us, is the way to go. If this is her approach, it is acceptable to me. If this is not her approach, then the hypocrite should take another $30,000 ride in in an Airforce jet. She needs to retire already.