Tom Cole: Join with President Obama on quick deal

It serves no purpose to raise taxes on the rich. There is just no finacnial benefit to it.

 

Put aside taxes for the moment.

The debt ceiling must be raised. Before the Republicans agree to raising the debt ceiling they must insist on reform of Mediscare and SS to include:
1. Raising the retirement age gradually to 70.
2. Means testing.

Now to taxes. I have no real problem with increasing taxes on the very rich. However, that will do nothing other than make Obama and the leftists happy for a few days. The Republicans must insist on iron clad guarantees for tax reform next year; reform that eliminates all loopholes, corporate subsidies and give aways, and treating all income as earned income!

 

They are no longer Bush's tax cuts/tax rates. They are Obama's.

The best thing for us would be to go over the cliff.

 

I have made that point on numerous occasions on this board. Wish the Republican politicians were sufficiently sharp to pick up on that.

I am not so sure of that. The truth is no one knows what will happen. However, I believe that is what Obama wants!

 

I look at the cliff much the same way I saw the failing auto industries. INstead of a bailout they should have been left to the natural consequence of their business decisions. Bankruptcy, as Romney tried to explain but people failed to listen, would have not been the end of the companies. It would have demanded a restructuring and revisit of their contracts. It would have been rough, no sense in denying that, however the companies would have survived and come out healthier.

Going off the cliff as a nation would force us, collectively, would force people to acknowledge the reality of our decisions in the past. It seems clear to me that nothing short of a dramatic, maybe even traumatic, event will get people to realize we cannot keep up this pace of spending and the ever increasing debt load. I think of it as a heart attack that forces people (at least those willing to learn) to change their lifestyle choices that led to the event.

 

No more compromise. Cut taxes. Cut the size of government. Overturn Obamacare.

It's time to stop.

 

It would be nice if Obama would quick campaigning (this time for his tax hikes) and actually work with congress. Congress does the budget but we all know nothing will get done without Obama's involvement.