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21 Dems Opposed To Obama's Tax Hikes

- September 18, 2012

The More Obama Talks About His Irrational Fiscal Fantasy, The More Democrats Line Up To Steer Clear Of His Fiscal Cliff

DEMOCRATS ARE LESS THAN ENTHUSED ABOUT PLAYING A GAME OF CHICKEN WITH THE FISCAL CLIFF AND OBAMA'S TAX HIKES

#21 - Sen. Dick Durbin (D-IL) Is "Floating A Six-Month Extension Of Current Rates … ." "Senate Majority Whip Dick Durbin of Illinois is floating a six-month extension of current rates combined with budget cuts so lawmakers have time to reach a grand bargain deal early next year." (Manu Raju and Steven Sloan, "Obama, Hill Dems Differ On Taxes," Politico, 9/18/12)

#20 - Sen. Claire McCaskill (D-MO) Is "Open To A Temporary Extension Of The Top Individual Tax Rate … ." "Sen. Claire McCaskill of Missouri and other Democrats are open to a temporary extension of the top individual tax rate if Republicans agree to raise revenue in other parts of the Tax Code." (Manu Raju and Steven Sloan, "Obama, Hill Dems Differ On Taxes," Politico, 9/18/12)

#19 - Rep. Bill Pascrell (D-NJ) Isn't "Ruling Out Extending The Current Rates … ." "Some liberals, like New Jersey Rep. Bill Pascrell, aren't ruling out extending the current rates if the GOP agrees to sweeteners like a patch on the alternative minimum tax or extending dozens of lapsed business tax breaks." (Manu Raju and Steven Sloan, "Obama, Hill Dems Differ On Taxes," Politico, 9/18/12)

#18 - Sen. Bill Nelson (D-FL) "Along With Several Of His Colleagues, Won't Take Any Option Off The Table … ." "And Florida Sen. Bill Nelson, along with several of his colleagues, won't take any option off the table, knowing full well that high-stakes talks over taxes could result in any number of outcomes. 'I'll certainly consider it,' Nelson said when asked about a short-term extension of all the Bush-era rates. 'But I'll consider anything.'" (Manu Raju and Steven Sloan, "Obama, Hill Dems Differ On Taxes," Politico, 9/18/12)

#17 - Sen. Mark Pryor (D-AR) Is Among Democrats Open To A Six Month Extension. "And in interviews with POLITICO, some liberals and moderate Democrats appear open to cutting a deal that includes a six-month extension of all the income tax rates - so long as Congress agrees to raise revenue in other areas, such as closing certain tax deductions. 'In the end, we're probably going to have to do something like that,' Arkansas Sen. Mark Pryor said." (Manu Raju and Steven Sloan, "Obama, Hill Dems Differ On Taxes," Politico, 9/18/12)

#16 - Sen. Jon Tester (D-MT) "Won't Rule Out A Six-Month Extension: 'You Never Want To Take Anything Off The Table - It's Possible." "Montana Sen. Jon Tester, another Democrat in a tough race, said while he prefers a year-end grand bargain and doesn't want to kick the can down the road, he won't rule out a six-month extension: 'You never want to take anything off the table - it's possible.'" (Manu Raju and Steven Sloan, "Obama, Hill Dems Differ On Taxes," Politico, 9/18/12)

#15 - Sen. Bob Menendez (D-NJ) Disagrees With Obama's Plan To Increase Taxes. "President Obama proposed today to extend the Bush tax cuts for another year for households making less than $250,000 annually. Menendez said he disagrees with the amount, thinking it should be higher." ("Menendez Disagrees With Obama's $250,000 Tax Cut Cap," NJToday, 7/9/12)

#14 - Rep. Jim Himes (D-CT) "Disagrees With The Approach Of Simply Allowing Rates To Rise, Favoring A Comprehensive Tax Code Overhaul Instead." "U.S. Rep. Jim Himes is a Democrat with many affluent constituents in Fairfield County, and as he runs for re-election, he draws about half his contributions from five wealthy towns in the district that borders New York. …He said he disagrees with the approach of simply allowing rates to rise, favoring a comprehensive tax code overhaul instead." (Greg Smith, "Obama's Tax Proposal Tough For Gold Coast Rep," The Associated Press, 7/22/12)

#13 - Sen. Richard Blumenthal (D-CT) Said "My Preference Is To Extend Tax Cuts Because I Think That Fiscal Cliff Is So Ominous And So Potentially Destructive That We Need To Avoid It" When Faced With A Choice To Extend Or Expire Tax Cuts For All . SEN. BLUMENTHAL: "'My preference is to extend tax cuts because I think that fiscal cliff is so ominous and so potentially destructive that we need to avoid it, but we also need to address the needs for cuts in spending." (CNN's " Starting Point , 7/18/12)

#12 - Sen. Jim Webb (D-VA) Said "That's A No" When Asked Whether He Would Vote For Obama's Plan To Extend Tax Cuts Only For Those Making Under $250,000 A Year . "Sen. Jim Webb (D-Va.) said Thursday he's opposed to President Barack Obama's plan to extend the Bush-era tax cuts to household income under $250,000 for one year, joining Sen. Joe Lieberman (I-Conn.) as two members of the 53-member Senate Democratic Caucus who plan to vote against the plan. 'That's a no,' Webb told Reuters when asked if he'd vote for the plan." (Manu Raju, "Webb 'A No' On Obama Tax Plan," Politico, 7/12/12)

#11 - Sen. Joe Lieberman (I-CT) Disagrees With Obama's Proposal To Raise Taxes, Saying "It's Not What We Need Now." "Count Sen. Joe Lieberman as a 'no' on President Barack Obama's tax plan. The Connecticut independent has just decided he will vote against the plan, saying it's 'not what we need now,' especially since it stands virtually no chance of becoming law before November." (Manu Raju and Scott Wong, "Joe Lieberman To Oppose Obama Tax Plan," Politico, 7/11/12)

#10 - Former Chairman Of The Democrat National Committee And Virginia Senate Candidate Tim Kaine Disagrees With Obama's Threshold. "Virginia Senate candidate Tim Kaine, the former chairman of the Democratic National Committee, prefers a $500,000 threshold." (Seung Min Kim, Manu Raju, and Scott Wong, "Embattled Dems Buck President Obama On Taxes," Politico, 7/10/12)

#9 - Rep. Kathy Hochul (D-NY) Believes That The Tax Cuts Should Be Extended For Those Making Below $500,000 A Year. "Democratic Rep. Kathy Hochul, a top GOP target in her upstate New York House race, wrote to House and Senate leaders on Monday asking for a prompt vote to permanently extend tax rates for the middle class, noting that she, like Kaine, believed it should be set at $500,000." (Seung Min Kim, Manu Raju, and Scott Wong, "Embattled Dems Buck President Obama On Taxes," Politico, 7/10/12)

#7 & 8 - Democrat Senate Candidates Heidi Heitkamp (ND) And Bob Kerrey (NE) Disagree With Obama's Threshold Of $250,000. "Democrat Heidi Heitkamp, the North Dakota Senate candidate, also wants to extend the tax cuts for those making less than $1 million. Former Nebraska Sen. Bob Kerrey, who's running again in his home state, 'believes the $250,000 limit is too low but is evaluating how specific proposals would affect the budget,' his campaign spokesman said." (Seung Min Kim, Manu Raju, and Scott Wong, "Embattled Dems Buck President Obama On Taxes," Politico, 7/10/12)

#6 - Sen. Bob Casey (D-PA) Says That Congress May Have Little Choice But To Extend The Bush Tax Cuts At The End Of The Year. "Congress likely will have little choice but to extend Bush-era tax cuts and delay a year-end deadline that would trigger deep, automatic spending cuts, to avoid another recession, Sen. Bob Casey Jr. said on Friday. Since public confidence in Congress 'took a really big, devastating hit because of the debt ceiling (arguments), you'll have a lot of people - investors, taxpayers, markets - that'll start to get worried in September' that Democrats and Republicans won't agree on how to avoid the cuts, Casey told Tribune-Review editors and reporters." (Jeremy Boren and Mike Wereschagin, "Casey: Congress Likely To Keep Tax Cuts, Spending," The Pittsburgh Tribune-Review , 6/23/12)

#5 - Member Of Obama's Fiscal Commission And Clinton OMB Director Alice Rivlin Said The Tax Increases Should Be Postponed. RIVLIN: "Well, I think you have to postpone the tax increases, but with a requirement to fold it into tax reform and entitlement reform in the next session that has some teeth in it. And that wouldn't be easy to design. But if there is a sense of urgency, which we feel there ought to be, then everybody's got to be committed to do that." (Alice Rivlin, Testimony Before The Senate Committee On Finance, Washington D.C., 6/19/12)

# 4 - Sen. Joe Machin (D-WV) Have Declined To Endorse Democrats' Call For Repealing The Bush Tax Cuts. "Democrats running for reelection, such as Sens. Jon Tester (D-Mont.) and Joe Manchin (D-W.Va.), have declined to endorse their leadership's call for a tax increase on wealthy families." (Alexander Bolton, "Senate Dems Balk At Ending Bush-Era Tax Rates On Wealthy Without A Deficit Deal," The Hill, 6/19/12)

# 3 - Sen. Ben Nelson (D-NE) Is Against Raising Taxes On Any Income Brackets. "Retiring Sen. Jim Webb (D-Va.) is holding fast to his position that tax rates should not be raised on any income brackets, and retiring Sen. Ben Nelson (D-Neb.) says that is his position as well, though he appears more flexible on the issue." (Alexander Bolton, "Senate Dems Balk At Ending Bush-Era Tax Rates On Wealthy Without A Deficit Deal," The Hill, 6/19/12)

# 2 - Rep. Jim Matheson (D-UT) Will Vote For Temporary Extension Of All Bush Tax Cuts. "U.S. Rep. Jim Matheson said Monday that he would vote for a temporary extension of the Bush-era tax cuts before they expire at year's end. 'I'm going to vote to extend them,' the Utah Democrat said. 'In a tough economy, you want to be careful about significantly reducing spending or increasing taxes.' Matheson's position puts him at odds with President Barack Obama." (Robert Gehrke, "Matheson Backes Extending Bush Tax Cuts," The Salt Lake Tribune, 6/11/12)

#1 - President Bill Clinton: "They Will Probably Have To Put Everything Off Until Early Next Year. That's Probably The Best Thing To Do Right Now." CLINTON: "Well, I think what it means is they will have to extend - they will probably have to put everything off until early next year. That's probably the best thing to do right now." (CNBC's "Closing Bell," 6/5/12)

  • "Former President Bill Clinton Broke Sharply With President Obama Over The Bush-Era Tax Cuts …" "Former President Bill Clinton broke sharply with President Obama over the Bush-era tax cuts, calling on Congress to renew them temporarily in the face of ongoing economic malaise. 'That's probably the best thing to do right now,' Clinton said Tuesday in an interview with CNBC." (Byron Tau, "Clinton Breaks With Obama Over Bush Tax Cuts," Politico, 6/5/12)

OBAMA'S CALLS FOR TAX HIKES ON THE MIDDLE CLASS PUT HIM TO THE LEFT OF PELOSI AND SCHUMER

"President Obama And Key Congressional Democrats Remain At Odds" Over The Extension Of The Bush Tax Cuts. "With five months to go before the election, President Obama and key congressional Democrats remain at odds on whether the threshold for extending the George W. Bush-era rates for families should be $250,000 per year or $1 million annually." (Alexander Bolton, "Democrats Paralyzed On Tax Cuts," The Hill, 6/8/12)

The Obama Administration Continues To Push For Them To Extended Only For Incomes Below $250,000. "A White House spokeswoman, Amy Brundage, sought to raise pressure on Republicans, while sticking with the administration's $250,000 threshold. 'The president has been clear that Congress must extend the tax rates for all families making less than $250,000 a year and let the rates for the very wealthiest expire at the end of the year,' Ms. Brundage said." (John D. McKinnon, "Pelosi Pushes Tax Hike For Those Making $1 Million Or More," The Wall Street Journal , 5/23/12)

  • " In Fact, The President's Push For Higher Taxes For People Making Over $250,000 Has Been Basically Moribund Since Late 2010, When It Failed To Pass A More-Democratic Senate Than The Current Lineup." (John D. McKinnon, "Pelosi Pushes Tax Hike For Those Making $1 Million Or More," The Wall Street Journal , 5/23/12)

Rep. Nancy Pelosi (D-CA) Asked For The Bush Tax Cuts To Be Extended For Incomes Below $1 Million. "Is House Democratic Leader Nancy Pelosi abandoning President Barack Obama in his effort to raise taxes on households making more than $250,000? It sure sounded that way on Wednesday. In a letter to House Speaker John Boehner, Ms. Pelosi called on Republicans to pass a permanent extension of Bush-era tax levels for the middle class. The only group Ms. Pelosi singled out for a tax increase was people earning $1 million or more." (John D. McKinnon, "Pelosi Pushes Tax Hike For Those Making $1 Million Or More," The Wall Street Journal , 5/23/12)

  • Rep. Pelosi: "Democrats Believe That Tax Cuts For Those Earning Over A Million Dollars A Year Should Expire And That We Should Use The Resulting Revenues To Pay Down The Deficit." (Rep. Nancy Pelosi, Letter To Speaker John Boehner, 5/23/12)

Sen. Chuck Schumer (D-NY) Does Not Support Obama's Tax On Incomes Over $250,000 Because That Is "Firmly In The Middle Class" And "Not Rich." "But the president also wanted to raise taxes on families making more than $250,000 a year by limiting income-tax deductions they can take. That didn't sit well with rank-and-file Democrats. Schumer said families that earn $250,000 or $300,000 a year aren't rich enough to deserve extra taxes. He described them as 'firmly in the middle class. They are not rich, and in large parts of the country, that kind of income does not get you a big home or lots of vacations or anything else that's associated with wealth in America,' he said." (S.A. Miller, "Million-Dollar Idea," The New York Post, 10/6/11)

  • Sen. Schumer: Taxing Over $250,000 "Fuzzies The Picture." "Democrats have long argued that, in addition to cutting government spending, lawmakers should ask people at the top of the income spectrum to pay more in taxes to help tame the national debt. But setting the dividing line at $250,000, as Obama did during the 2008 campaign, 'fuzzies the picture,' said Sen. Charles E. Schumer (D-N.Y.), the leading architect of the surtax proposal." (Lori Montgomery, "Democrats Shift The Definition Of 'Rich' In Battle Over Taxes," The Washington Post , 10/5/11)

OBAMA'S TAX INCREASES WOULD BE DEVASTATING TO THE WEAK ECONOMY

A New Ernst & Young Report On The Looming Fiscal Cliff Found That The Expiration Of Tax Cuts Would "Result In A Smaller Economy, Fewer Jobs, Less Investment And Lower Wages." "The confluence of fiscal policy changes scheduled to occur at the end of 2012 - sometimes referred to as the 'fiscal cliff' - poses serious challenges for policy makers. One area of disagreement is the increase in tax rates for high-income taxpayers resulting in part due to the sunset of elements of the 2001 and 2003 tax cuts.This report finds that these higher marginal tax rates result in a smaller economy, fewer jobs, less investment, and lower wages. Specifically, this report finds that the higher tax rates will have significant adverse economic effects in the long-run: lowering output, employment, investment, the capital stock, and real after-tax wages when the resulting revenue is used to finance additional government spending." (Drs. Robert Carroll and Gerald Prante, "Long-Run Macroeconomic Impact Of Increasing Tax Rates On High-Income Taxpayers In 2013," Ernst & Young LLP , 7/12)

  • "Employment In The Long-Run Would Fall By 0.5% Or, Roughly 710,000 Fewer Jobs, In Today's Economy." "Employment in the long-run would fall by 0.5% or, roughly 710,000 fewer jobs, in today's economy." (Drs. Robert Carroll and Gerald Prante, "Long-Run Macroeconomic Impact Of Increasing Tax Rates On High-Income Taxpayers In 2013," Ernst & Young LLP , 7/12)
  • Economic Output Would Contract By 1.3 Percent, Or $200 Billion. "This report finds that the increase in the top tax rates would reduce long-run output by 1.3% when the resulting revenue is used to finance additional government spending." (Drs. Robert Carroll and Gerald Prante, "Long-Run Macroeconomic Impact Of Increasing Tax Rates On High-Income Taxpayers In 2013," Ernst & Young LLP , 7/12)
  • Wages Would Decrease By 1.8 Percent. "Real (noninflationary) after-tax wages would fall by 1.8%, indicative of the decline in living standards relative to what would have occurred otherwise." (Drs. Robert Carroll and Gerald Prante, "Long-Run Macroeconomic Impact Of Increasing Tax Rates On High-Income Taxpayers In 2013," Ernst & Young LLP , 7/12)

The Joint Committee On Taxation Found President Obama's Tax Hike Would Raise Taxes On Nearly One Million Households And Small Businesses. "According to JCT, next year 940,000 households within the top 2 percent will report net positive business income and will face marginal tax rates that would be 36 percent or 39.6 percent under Obama's plan, up from 33 percent and 35 percent now. That represents 3.5 percent of taxpayers who have business income and 53 percent of net positive business income, the analysis said." (Richard Rubin, "Obama Plan Means Higher Taxes On Business Profits: Study," Bloomberg, 6/19/12)


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