Coburn to support tax increases?

[okie52]

GOP senator backs tax rate hike on wealthy
Posted by
CNN's Dana Bash and Ted Barrett


Washington (CNN) - In a significant development in the fiscal cliff standoff, Republican Sen. Tom Coburn, a leading deficit hawk, said Wednesday he would support higher tax rates on wealthier Americans as part of a broader deal with President Barack Obama and congressional Democrats to avoid the crisis.

"I know we have to raise revenue," the senator from Oklahoma told MSNBC. "I don't really care which way we do it. Actually, I would rather see rates go up than do it the other way, because it gives us a greater chance to reform the tax code and broaden the base in the future."

Coburn, who served on the Simpson-Bowles fiscal commission and participated in the Gang of Six deficit talks, was one of the first Republicans a couple of years to embrace raising revenue to reduce the deficit. At that time, he wanted to do it through reforming the tax code by eliminating loopholes and deductions that he argued favored the rich and powerful. But now he appears to be the first GOP senator to say publicly he would back increasing the tax rates on the wealthy, as long as that increase is coupled with spending cuts and entitlement reforms.

Sens. Susan Collins and Olympia Snowe, both Republicans from Maine, said later Wednesday they, too, would support the tax rate increase on the wealthy, though they would like to see a caveat to "protect small business owners" who include their business income on their personal tax returns.

"I believe that very wealthy individuals-millionaires and billionaires-should pay a greater percentage of their income in taxes to help us reduce the soaring deficit," Collins said, noting that "In April, I was the only Republican to vote to proceed to consideration of a bill, the so-called "Buffett Rule," which would have imposed a new minimum tax on the very wealthy."

Coburn thinks its better to raise rates now, which will generate the money needed to get beyond the fiscal cliff and then negotiate broad reforms to the tax code – such as eliminating deductions and loopholes – that both Republicans and Democrats argue is necessary.

He is worried that if some reforms are made now as part of the fiscal cliff talks, Congress might never return to the table to do comprehensive reform.

Not surprisingly, Democrats seized on Coburn's unexpected new position.

"Senator Coburn is an unquestioned conservative," said Sen. Chuck Schumer, D-New York, in a news release. "If he doesn't provide cover for the Republicans to finally shift on tax rates, I don't know who does."

"Welcome to the Club," read a news release issued by House Democrats.

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[Soonerjeepman]

I'm sure taxes do, and honestly I could agree with SOME increase for the wealthier IF and ONLY IF there are major cuts in the spending. Raising taxes ALONE will not do it. I think most people see this.

[okie52]

I was trying to see where Coburn was demanding spending cuts in exchange for the tax hikes. Also, he thought it was better to raise taxes now before you have concessions on deductions,etc...? Seems *** backwards to me.

[rock on sooner]

That's [B]TWO[B] members of OK's congressional team to support
what Obama's saying. What's up with that?

[okie52]

That's [B]TWO[B] members of OK's congressional team to support
what Obama's saying. What's up with that?

Compassionate conservatives reaching across the aisle.

[rock on sooner]

Compassionate conservatives reaching across the aisle.

Maybe they are Sooner trailblazers and more Pubs and Dems
will be followers....

[okie52]

Maybe they are Sooner trailblazers and more Pubs and Dems
will be followers....

I don't want any of them including Coburn voting for tax hikes unless they are getting an equal amount of spending cuts.

[pphilfran]

I don't want any of them including Coburn voting for tax hikes unless they are getting an equal amount of spending cuts.

Possibly trying to turn things around?

Everyone is on board with increasing tax rates...all you have to do, Mr. President, is agree to an equal amount of spending cuts...

[okie52]

Possibly trying to turn things around?

Everyone is on board with increasing tax rates...all you have to do, Mr. President, is agree to an equal amount of spending cuts...

I hope that is his plan.

[OULenexaman]

Trust me it isn't...

[okie52]

Trust me it isn't...

If Coburn caves on tax hikes without proportionate spending cuts I'll lose some respect for him. Right now he is about my favorite congressman.

[rock on sooner]

I think a lot of people lost sight of the fact that Obama put his
"plan" out front looking for a counter proposal from the Pubs.
They were stupid enough to puff up in front of the cameras,
instead of getting their plan out there sooner. Played right into
Obama's hand. Having said that, I think Obama should counter
with MORE spending cuts than before and stand his ground on
taxing the 2%...that's a win-win. Take Coburn's idea next spring
and tackle tax reform in a meaningful way. Everyone then get
drunk on Dec 31, Sooners whip up on aTm on Jan 4, K St handles
UO and Bama thumps the Domers...

[okie52]

I think a lot of people lost sight of the fact that Obama put his
"plan" out front looking for a counter proposal from the Pubs.
They were stupid enough to puff up in front of the cameras,
instead of getting their plan out there sooner. Played right into
Obama's hand. Having said that, I think Obama should counter
with MORE spending cuts than before and stand his ground on
taxing the 2%...that's a win-win. Take Coburn's idea next spring
and tackle tax reform in a meaningful way. Everyone then get
drunk on Dec 31, Sooners whip up on aTm on Jan 4, K St handles
UO and Bama thumps the Domers...


I'm not having a lot of faith in those events occurring.

[rock on sooner]

I'm not having a lot of faith in those events occurring.

All of em or ya just gonna cherry pick?

[OULenexaman]

I have faith in the last 4 words....

[rock on sooner]

I have faith in the last 4 words....

Heh, which post?

[okie52]

All of em or ya just gonna cherry pick?

All of them.

[badger]

I've heard Republicans... namely OKLAHOMA Republicans (yay Tom Cole and Tom Coburn) give on this give-and-take compromise away from the fiscal cliff. Now... any Dems wanna join in yet? If not, I'm sure the Republicans would just love to prevent the rising of the debt ceiling

[rock on sooner]

All of them.

Aw, yer no fun...

[rock on sooner]

I've heard Republicans... namely OKLAHOMA Republicans (yay Tom Cole and Tom Coburn) give on this give-and-take compromise away from the fiscal cliff. Now... any Dems wanna join in yet? If not, I'm sure the Republicans would just love to prevent the rising of the debt ceiling

Only problem is the party leaders..neither party..will step up....

[badger]

If Coburn caves on tax hikes without proportionate spending cuts I'll lose some respect for him. Right now he is about my favorite congressman.

Coburn has never caved on anything, to my knowledge. However, he does get along with Obama (I think they joined Senate the same year-ish) so there might be some hope

[LiveLaughLove]

I gave up on Coburn when he chastised a constituent for saying something bad about Nancy Pelosi at a town hall meeting.

She was speaker and about to ram through ObamaCare.

Here's the truth, truly conservative types that are wealthy enough and successful enough to be politicians, don't want to be. They are too busy being successful.

So I tend to distrust Republican politicians and wonder why they are even involved in government. Ego? Incompetence in the private sector?

Cynical I know, but it's usually one of those. Very very few actually want to go try and change things for the better. I might put Langford as the idealist currently, but if he is there long, he will get corrupted by the Washington stench too.

Democrats are worse. They WANT it to be a lifetime job. It's every liberals dream. Live on the public dole your whole life and have power to boot. Yeehaw!

[rock on sooner]

LLL, in the Senate 36 Dems and 30 Pubs were millionaires in 2010
in the House 110 Pubs and 73 Dems were millionaires in 2010. Issa
was worth $50 million in 2002 and is now worth $261 million. I think
there is a lot of PERSONAL interest on both sides about tax cuts...not
hard to see how Dubya got his tax cuts through, huh?

[okie52]

Coburn has never caved on anything, to my knowledge. However, he does get along with Obama (I think they joined Senate the same year-ish) so there might be some hope

Coburn has always been pragmatic...which I like. But we've seen what happens when you give into tax hikes without mandatory spending cuts...it cost daddy bush dearly.

[FaninAma]

I called Coburn's DC office and told the staffer who answered the phone that if Coburn and the GOP caved on raising taxes without getting significant, equivalent and verifiable spending cuts then a significant part of their most loyal base, fiscal conservatives, would walk away from the party.

I asked him if Coburn the GOP leadership felt that was a likely consequence of the GOP caving on the spending issue and he said yes, they understand the level of frustration with the lack of specific spending cuts and took the liklihood seriously. He claimed Coburn's MSNBC statement was not meant to imply Coburn would agree to tax increases without spending cuts.

[Sooner5030]

What is weird is the more this thing drags on the more I wish they let all of the tax cuts expire. Fight for more cuts when the Debt Ceiling comes up again....like very soon.

Just think....even with the sequester and letting the tax cuts expire we would still have a huge deficit. I think that fact should scare Murikans more so than the little cliff. Everyone just wants to keep this trick going and ignore the hard decisions......there's always tomorrow I guess.

[OULenexaman]

Heh, which post?

Bama thumps the Domers...

[olevetonahill]

Biggest Goddamn problem we have in this ****in country is the "Let that other dude pay, Not me" attitude

Hells ****in bells people this country is going down the ****ter and all Yall can do is bitch along party ****in lines. Let the Rich pay more, Cut welfare but dont cut my SS,

**** its time we ALL took one for the country and sacrificed a bit

How about this ****
Increase Taxes 10% straight across the board EVERYONE pays 10% more
Reduce everyones Benefits by 10%

This **** aint really hard unless ya just wanta keep playin games

[badger]

What is weird is the more this thing drags on the more I wish they let all of the tax cuts expire. Fight for more cuts when the Debt Ceiling comes up again....like very soon.

Just think....even with the sequester and letting the tax cuts expire we would still have a huge deficit. I think that fact should scare Murikans more so than the little cliff. Everyone just wants to keep this trick going and ignore the hard decisions......there's always tomorrow I guess.

Kids this Christmas are apparently asking for iPads ($400-$900), cell phones (can easily be $500 annually with monthly fees and to buy the phone) Wii U ($300-$350, not including games and accessories) and other expensive gifts. They don't care how or when the givers pay for them, they just want them NOW.

I see Congress and taxpayers of today behaving the same way. We want all the privileges of being Americans, but none of the responsibilities... and definitely none of the overdue bills.

[badger]

Biggest Goddamn problem we have in this ****in country is the "Let that other dude pay, Not me" attitude

Hells ****in bells people this country is going down the ****ter and all Yall can do is bitch along party ****in lines. Let the Rich pay more, Cut welfare but dont cut my SS,

**** its time we ALL took one for the country and sacrificed a bit

How about this ****
Increase Taxes 10% straight across the board EVERYONE pays 10% more
Reduce everyones Benefits by 10%

This **** aint really hard unless ya just wanta keep playin games

So long as my houshold's current employment and income stays the same, I could handle this.

Sad fact is that unemployment is still high, wages are still stagnant, and health care, gasoline and other necessity costs continue to go up.

Even if people wanted to truly be involved in the "shared sacrifice" that this situation demands... could they afford to do it?

[olevetonahill]

So long as my houshold's current employment and income stays the same, I could handle this.

Sad fact is that unemployment is still high, wages are still stagnant, and health care, gasoline and other necessity costs continue to go up.

Even if people wanted to truly be involved in the "shared sacrifice" that this situation demands... could they afford to do it?

See yer post above this one
Hell yes they can, Cut out the stinkin Ipads and ****. Hell EVERY one from Kids to the adults are spoiled assed rotten, Im sorry but a 10 year old Kid Dont need a stinkin smart phone , They dont Need an Xbox playstation thing . They need a Big assed back yard and an imagination

[rock on sooner]

See yer post above this one
Hell yes they can, Cut out the stinkin Ipads and ****. Hell EVERY one from Kids to the adults are spoiled assed rotten, Im sorry but a 10 year old Kid Dont need a stinkin smart phone , They dont Need an Xbox playstation thing . They need a Big assed back yard and an imagination

Vet, only problem with yer point is many of the parents of these
10 year old kids were on the leading edge of cell phones and laptop
computers. They don't know any different. The "ancestors" of the
smart phone and Xbox were their playthings.

[rock on sooner]

Bama thumps the Domers...

Well, I'm HOPING Bama thumps the Domers....

[Soonerjeepman]

So long as my houshold's current employment and income stays the same, I could handle this.



unfortunately MINE can't. Not 10%. I don't eat out a lot, cook most meals, don't have cable tv, all my cars are over 10 yrs old. carry liability insur only..etc. I'm NOT living "high on the hog". Yes I know the FICA is going up, everything is...but to just throw 10% out there is BS. 10% on someone making 100K doesn't hurt as much as someone making 50K...food, gas, power, insurance ALL COST THE SAME no matter what you make.

[olevetonahill]

unfortunately MINE can't. Not 10%. I don't eat out a lot, cook most meals, don't have cable tv, all my cars are over 10 yrs old. carry liability insur only..etc. I'm NOT living "high on the hog". Yes I know the FICA is going up, everything is...but to just throw 10% out there is BS. 10% on someone making 100K doesn't hurt as much as someone making 50K...food, gas, power, insurance ALL COST THE SAME no matter what you make.

Then lets do a Graduated increase , I dont care as long as EVERY one pays some
Say 1 % for the poorest up 10 for the wealthiest

[cleller]

Vet, only problem with yer point is many of the parents of these
10 year old kids were on the leading edge of cell phones and laptop
computers. They don't know any different. The "ancestors" of the
smart phone and Xbox were their playthings.

That's what gets me. We constantly hear that Americans are practically living in mud huts, but in reality your average household is chock full of things that didn't even exist 40 years ago, and are not necessities. Still lots of those households are getting government aid.

[Soonerjeepman]

Then lets do a Graduated increase , I dont care as long as EVERY one pays some
Say 1 % for the poorest up 10 for the wealthiest

agreed...