Posted on 11/27/2012 8:10:26 AM PST by bestintxas
A growing number of Democrats say they are willing to let the country go off the fiscal cliff if a deal cannot be reached by Jan. 1 that raises taxes on the top two percent of earners while protecting costly entitlement programs.
Their theory in this game of chicken with Republicans is that it will be easier in January to lower taxes for 98 percent of the country while finding the best possible parts of the federal budget to cut — in line with long-held goals of the nation's liberal party. They also think they'll be in a better position to save most, if not all, of massive entitlements like Medicare as well as pet projects.
The fiscal cliff, originally created to force a legislatively-appointed supercommittee to make significant cuts to the federal budget, is roughly $500 billion mix of budget cuts and tax increases.
It includes the expiration of the Bush-era tax cuts and Obama-era payroll tax cut, massive cuts to the military and jobless benefits, and a decrease in Medicare reimbursement rates.
This will send tax on bond interest to 44.6 percent from 35 percent; on capital gains to 25 percent from 15 percent and on dividends to 44.6 percent from 15 percent, Forbes magazine pointed out Monday.
The average family will pay an extra $2,000 to $3,000 in income taxes if Congress fails to reach an agreement before the Bush tax cuts expire on Jan. 1, according to the Congressional Budget Office.
The economy would shrink by 0.5 percent, the CBO has found.
(Excerpt) Read more at newsmax.com ...
We are the frogs and it is better to get it over with quickly rather than prolonged degeneration to a low standard of living.
As we move to a socialist society, the best and brightest will be moving out of our country, which will be populated with a bunch of Americans scratching their way for subsidence, with their hands stretched out to a group of elites who will choose which ones to feed with scraps.
I wish no part of that. Let's be done with it. Perhaps this will serve as a big enough shock to wake up the fools who voted for socialism.
Let them own it !
They need to be out of office completely That includes any form of government especially lobbying.
Jeb’s fault!
“As we move to a socialist society, the best and brightest will be moving out of our country...”
Where would they go?
GOOD.........no delays. One reason is I want every DAMNED DEMOCRAT, government moochers and those that would not vote Romney because........., to feel the PAIN they inflicted on us. Bring it on.
After that, the sun will come up tomorrow, plant some seeds.
I think it's time to just say,
"Y'know democrats ... we're not playin' anymore. HERE .. you can HAVE your ball ... we're goin' home"
If that's all it takes to solve this crisis, that doesn't sound much like a cliff. It's more like a curb.
But then, does anybody truly believe raising taxes will result in balanced budgets?
Pay now or later. I say now, and let the leftists own it.
ABSTAIN!
The coming cliff is an excuse to raise taxes.
There’s no avoiding the cliff, though, short of massive “austerity”,
which most 0bama voters wouldn’t understand and would just riot over.
After all, the whole point of voting for 0bama was the free stuff.
GOP will be blamed, regardless. Let the frog feel the heat.
Speaking of frogs, here’s a LOL frog video on youtube - 27 seconds:
http://www.youtube.com/watch?v=QzXM58qR1Es
This is a rather obvious trap.
The difference between this and 2 years ago is back then was O was not willing to let all those taxes go up with a Dem controlled House and Senate and a re-election coming up. So Obama caved exactly as I predicted he would. In fact I think he wanted them all extended at the time,.
Worse yet only the 'spending cuts' Republicans are whining about the automatic spending cuts being bad, the Dems dont seem to care less about them I guess because in that 2011 'bi-partision deal they appear to have protected their own Golden Calves, unlike the idiot Republicans who look stupid on it.
(Congressional) Republicans need to fight like Dems, to use their brains for a change.
“We will not raise taxes on the top 2% of earners to fix only 8% of the deficit- without serious entitlement reform. We have a spending problem, not a revenue problem.
We received no spending reform - of any type- from the President or the Democrats, so we have no choice but to let the law of the land, which Obama signed, be carried out.”
And when the bigger issue, the debt ceiling comes up, pass no law to increase it without spending reform. What the hell, time to play for real. If we lose, we lose; we're all losing anyways.
well the Dems invented the Fiscal Cliff so they could have a very laugh at the GOP running around like chickens with their heads cut off
In the past, many found happiness in Brazil. People do have choices.
actually Bush’s tax cuts are the reason 47% of Americans don’t pay taxes.
Going over the cliff will make the system more fair again.
I guess it’s a countdown until Boehner caves in any case though.
Pisses me off. I’ve been working on a masters degree these past three years. Now, will graduate this spring and maybe earn a better salary, only to see it all taxed even more in the coming years as hubby and my earnings go over that arbitrary amount where they consider us “rich.” We’ve been married over 25 years and have saved, worked, invested, sacrificed, put our kids and ourselves through school. This was supposed to be the time we were going to enjoy some reward for all this hard work over the years.
But they’re going to take it from us and we can’t pay off our debts. Why try? Why work this hard?? They won’t LET you get ahead ...
This country is no longer the America we used to know.
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