Skip to comments.Friday Afternoon Roundup - Over the Cliff
Posted on 12/01/2012 10:54:03 AM PST by arthurus
Republicans are playing into the hands of the enemy by emphasizing the fiscal cliff negotiations. There is very little to negotiate here. Obama, fresh off a stolen election, carved out over the bodies of hurricane victims, is daring Republicans to say no to him. And a dispirited Republican establishment is still feeling beaten and too willing to give in.
There are two scenarios here. Either Obama is bluffing or he isn't. And it doesn't really matter which one is correct. The crisis is being exploited with nonsense about fixing the giant hole in the economy created by Obama, by raising taxes on the rich. Even though the tax hikes wouldn't even begin to cover a month of spending.
The fiscal cliff is a strategic crisis weapon,
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I think this all has become like a scripted episode of WWE. The written piece to Sequestration? It was written up almost eighteen months ago, and there had to be at least four planned outcomes from the Democratic prospective when this was inserted as the fall-back to the failed Super-Committee episode (another WWE-planned piece).
There’s probably six guys sitting at white board and planning out the 2014 election with a failed fiscal cliff episode and various other scripted pieces to occur shortly.
My advice is for folks to start going way off the script. Offer up an enormous tax proposal that is totally cancelled or scraped if the unemployment rises above eight percent. For a brief period....make the President sweat out this great agreement because we will sink right back to eight to nine percent unemployment by summer of 2013.
I don’t know. We have a president who wants to wage a war on business. We have $ trillion deficits as far as the eye can see. We have medicare and social security unfunded liabilities totaling close to $100 trillion. We have Obamacare which is going to raise taxes on everyone to the tune of $1 trillion. We have the Fed up to QE(infinity). We have derivative exposure of our financial institutions totaling a cool $ quadrillion. In my opinion, going over the fiscal cliff is the LEAST of our worries.
(1)Taxes rise on both the rich and middle-class, which is what they really want.
(2)Defense spending is drastically cut, which is what they really want.
(3)Looking toward the 2014 elections, the Demoncrat media will blame the GOP for going over the cliff, which is what they really want.
Regardless of what the GOP offers, the Demoncrats and their media friends will manufacture reasons to say no. Behind closed doors, the Demoncrats are drooling to go over the cliff.
It’s really quite simple for Republicans; “just do the right thing”. For each dollar of extra revenue there should be 2-3 dollars of IMMEDIATE cuts. Nothing else acceptable.
The political talk is all about tax hikes, but there’s no honest talk about the automatic spending cuts. Cut the spending.
For each dollar of extra revenue there should be 2-3 dollars of cuts PREVIOUS to the tax hikes. Subsequent cuts vanish. Also no spending cuts are really useful unless baseline budgeting is abolished so that any increase over the previous year is registered as an increase instead of, as now, any increase below the baseline of annual increase, say 5%, is rated as a decrease.
Worse, any tax hike will be followed by NEW SPENDING in order to make use of the windfall supposedly generated by the tax rate rise even as revenues actually decline due to the decrease in economic activity occasioned by the increase in taxes. There is nothing good that can come from ANY tax hike. Abolish baseline budgeting and really cut real spending.
And the Republicans have control of the process altogether. All money bills, appropriations, must originate in the House. The Republicans need only refuse to fund whatever they choose not to fund, such as Obamacare and all its new bureaucracies and tax hirees and the EPA and all its expensive regulations and takeovers, etc.
But Here we are talking about getting the President to cut spending. Any increase in spending, any failure to cut spending, is directly due to the willful refusal of the Republicans in the House to do what they can actually do. The president does not appropriate money. Once upon a time history and civics, including the Constitution, were actually taught in public school.
Maybe they should bring the “Cut, Cap and Balance” idea back. That coupled with some type of tax reform that broadens the tax base and increases revenue is about the only thing that can work.
Then we take on Medicare, Medicaid, Social Security and Obamacare.
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