Skip to comments.Fiscal Cliff Notes
Posted on 12/03/2012 9:13:33 AM PST by jazusamo
Amid all the political and media hoopla about the "fiscal cliff" crisis, there are a few facts that are worth noting.
First of all, despite all the melodrama about raising taxes on "the rich," even if that is done it will scarcely make a dent in the government's financial problems. Raising the tax rates on everybody in the top two percent will not get enough additional tax revenue to run the government for ten days.
And what will the government do to pay for the other 355 days in the year?
All the political angst and moral melodrama about getting "the rich" to pay "their fair share" is part of a big charade. This is not about economics, it is about politics. Taxing "the rich" will produce a drop in the bucket when compared to the staggering and unprecedented deficits of the Obama administration.
No previous administration in the entire history of the nation ever finished the year with a trillion dollar deficit. The Obama administration has done so every single year. Yet political and media discussions of the financial crisis have been focussed overwhelmingly on how to get more tax revenue to pay for past and future spending.
The very catchwords and phrases used by the Obama administration betray how phony this all is. For example, "We are just asking the rich to pay a little more."
This is an insult to our intelligence. The government doesn't "ask" anybody to pay anything. It orders you to pay the taxes they impose and you can go to prison if you don't.
Then there are all the fancy substitute words for plain old spending words like "stimulus" or "investing in the industries of the future."
(Excerpt) Read more at creators.com ...
it appears pretty obvious to me that Mr Sowell FAILED self esteem awareness and should immediately report to a re-education camp. Rhetoric like this will do nothing to make our Elected Leaders and the huddled masses who blindly follow them feel better about themselves.
Thanks for both of those articles jaz. Both are quite revealing.
Excellent observation. :)
Now Prof Sowell should now examine the real reasons why the Fed is monetizing the lion’s share of the deficit.
Who does it benefit and who does it protect?
No one gets the punchline anymore.
Cliff Notes went out with cassette tapes.
Kids today just download pre-written papers off the internet.
Thanks for the ping, jaz
Thank you for the posts and ping!