Page 20 - Budget Problem News Today

Republican leaders will be happy that martha is offering them sacrificial lanes in 2012 in the next eleeks. what about taxes? if were going to have the adult conversation that everyone says we have to have, if were going to fix the budget problem, isnt it spending cuts and something on the tax side? arent republicans dreaming? >> well, i think we had that conversation last december, and mitch mcconned wound up with a trillion of tax cuts. i dont know that theres a political will for that, but th...

At the two-thirds vote requirement for local taxes established under proposition 13 it limits property taxes and saved californians $5 billion. >> that could be a concern if you lower two-thirds vote for special taxes that is going to be mean a rath of new taxes at the local level, for example the sales tax. >> changing any part of prop 13 would require voter approval which is highly unlikely and voters approving a tax extension an idea they have rejected twice. governor brown is determined to c...

At the two-thirds vote requirement for local taxes established under proposition 13 it limits property taxes and saved californians $5 billion. >> that could be a concern if you lower two-thirds vote for special taxes that is going to be mean a rath of new taxes at the local level, for example the sales tax. >> changing any part of prop 13 would require voter approval which is highly unlikely and voters approving a tax extension an idea they have rejected twice. governor brown is determined to c...

Kid. this is the second time its happened in just a few years. as goes california, so goes the fact. our solutions expression segment today, if the dysfunctional golden state can be if i canned, maybe the rest of the country has a fighting chance. wish us luck. joining us are joe mathews and mark paul. authors of california crackup. how reform broke the golden state and how to fix it. joe, let me start with you. so, how do we begin to fix it when it looks like they have a budget problem here in ...

Bring out their base voters in the fall. again, trying to make the best of a bad situation. >> because the president wants to keep the 2001-2003 tax cuts for those earning less than $250,000 a year. >> exactly. >> for those earning more he wants it to go back to the old tax rate, 39.6% or whatever that occurred during the clinton administration from 35% where it went down. >> right. >> the republicans have a response, though. >> yeah. the republicans say, this is fine with us. come into our whee...

>> do you agree that tax cuts cant be paid for -- tax cuts are not paid for, is that correct? >> i am not for raising taxes on the american people in a soft economy. >> thats not the question. are tax cuts paid for or not? >> youre trying to get into this washington game and their funny accounting over there. you cannot get the economy going again by raising taxes on those people we expect to create jobs in america and to get the economy going again. if you want to solve the budget problem, we h...

>> do you agree that tax cuts cant be paid for -- tax cuts are not paid for, is that correct? >> i am not for raising taxes on the american people in a soft economy. >> thats not the question. are tax cuts paid for or not? >> youre trying to get into this washington game and their funny accounting over there. you cannot get the economy going again by raising taxes on those people we expect to create jobs in america and to get the economy going again. if you want to solve the budget problem, we h...

Economy going again. if we want to solve the budget problem, weve got to have a healthy economy and we have to get our arms around the runaway spending thats going on in washington, d.c. >> i just want to clarify this. im relying on what chairman greenspan said maybe if youre accusing him of funding washington games, he says that tax cuts that arent paid for are not -- they are not can youing the deficit, they are not actually paid for, its borrowed money. do you believe tax cuts pay for themsel...

Only bringing in less than 15% of gdp and youre spending over 20%. its almost criminal what the republican party is willing to steal from their grandchildren and our grandchildren. thats the problem, brian. just because its politically popular. >> lets go back to always spending. lets start by going back to a baseline thats defensible. lets talk about take whats left of the stimulus and not spend it. lets take whats left of t.a.r.p. and not spend it. lets prove to the american people that were w...

What make the economy move. and if this budget problem eventually merges to the point where it begins to become very toxic, it will be reflected in rising long-term interest rates, rising mortgage rates, lower housing. at the moment there is no sign of that because the financial system is broke and you cannot have inflation if the financial system is not working. >> mayor bloomberg, let me talk about the tax cut debate gripping washington right now. political stupidity u.s. style is the headline...