Republicans have decided to release their list of demands.
After the president’s plan at a balanced approach to avoid the fiscal cliff was laughed at by Republican House Leader John Boehner, Americans waited with baited breath in anticipation of what Republicans would propose. Well the wait is over and to no one’s surprise, Republicans are still protecting the rich and asking the poor and middle class to pay more.
Here are the basics of the “balanced” plan proposed by Republicans today:
1. No new taxes on the rich.
2. Spending cuts on services benefiting the middle class to the tune of $600 billion
3. More spending cuts on what is being called “Health Services” to the tune of another $600 billion
4. Revenues from “tax reform” equaling $800 billion over 10 years.
In total, Republicans are looking to bring in $2.2 trillion dollars by cutting services that benefit the needy, while at the same time, protecting the greedy. After releasing their offer, House Speaker Boehner told the press that the plan was “credible.” He said,“what we are putting forward is a credible plan that deserves serious consideration by the White House.” He also requested that the White House respond as soon as possible.
The president’s plan in comparison looked to raise $1.6 trillion in new taxes, while letting the tax rate for those making more than $250,000 go back to what it was under the Clinton administration. It called for tax reforms and closing loopholes and cuts $400 billion in services.
