Kyl Optimistic Obama, Republicans Can Compromise on Plan to Overhaul Taxes

[Joanne98]

Source: Bloomberg

Republican Senator Jon Kyl said he’s optimistic his party can find common ground with President Barack Obama on restructuring the U.S. tax system, including changes to corporate and individual rates.

“The White House and I know Senate Republicans, and I think House Republicans, understand that in the longer run, starting maybe a year or two from now, we are going to have to make some changes to get a more pro-growth tax code,” Kyl said in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend.

The current tax code is “too filled with all kinds of subsidies and credits,” said Kyl, the party’s chief Senate vote-counter. “We could have lower rates, for example, a lower corporate rate that the White House has talked about if we are able to reform our tax code.” Republicans and Democrats also may be able to agree on spending cuts, he said.

Kyl, of Arizona, said that even though U.S. corporate profits are rising and the Standard & Poor’s 500 Index has gained 58 percent since Obama took office, the president’s administration has been “highly anti-business” over the past two years.



Read more: http://www.bloomberg.com/news/2011-01-07/kyl-optimistic-obama-republicans-can-compromise-on-plan-to-overhaul-taxes.html

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The thugs want to give the rich ANOTHER tax cut already!

[msongs]

1. yes obama willl give in again before the cards are even dealt. repubs learn fast lol nt

[onehandle]

4. Well, when the 'hostage' is being 'hurt,' what can you do? nt

[savalez]

2. Ha ha! What a bullshit statement.

Kyl want's it both ways!

"Kyl, of Arizona, said that even though U.S. corporate profits are rising and the Standard & Poor’s 500 Index has gained 58 percent since Obama took office, the president’s administration has been “highly anti-business” over the past two years."

[mbperrin]

3. Here's a pro-growth tax plan:

Tax retained earnings at 100%. The only way to avoid paying the government is to expand the business.

Simple. Next?

[jaybeat]

7. Exactly!

High marginal tax rates on non-wage income and corporate profits generate maximum economic growth.

Oh, and he's also full of shit about at least some of the incentives and subsidies in the tax code--if you want a sustainable economy, you need to subsidize the kids of growth you want and penalize the kinds you don't. Otherwise, dirty will always be cheaper. (In the short run, which is what drives spending and investment decisions.)

Idiot.

[krispos42]

5. "Kyl Optimistic Obama Can Compromise on Plan to Overhaul Taxes"

*sigh*

[subterranean]

6. Take "Republicans" out of the title and it would be accurate. nt

[jwirr]

8. Why am I not comforted?

[fascisthunter]

9. the GOP is destroying our government from within

They intentionally put our government so far in debt and weakened it from within by placing their corporate-fascist henchmen in key positions of power; to help enrich a few, a few that no control OUR means of representation. You know what that means? The wealthy will be able to role back every law out there that protects you and me from powerful individuals who want everything and want you to have nothing.

[olegramps]

10. Why is Kyl so optimistic? He knows that Obama is a push over.

I just can't understand why most Democrats don't tell Obama to shit or get off the can. Absolutely disgusting.

[No Elephants]

11. Ruh roh.

[DCKit]

12. If by "compromise" Kyl means "does what we want, without question"...

Yeah, I guess so.

But we can hope that the guy (and his party) with the driest powder in the world might yet surprise us.

[QC]

13. The Republicans have every reason to be optimistic now. n/t