Be careful of your sources. This is the NYT after all. They give you enough of the facts that they want you to focus on, and hold back, or falsify the rest. They are the propaganda organ of the Democratic party after all.
I do believe it to be true that our progressive tax system needs to be altered so that everyone pays. That said, I’d dump what we have and institute a flat percentage on incomes, treating dividends, capital gains and wages the same. No deductions at all. Pay from the first dollar. That way, fewer freeloaders, who think they can get something for nothing from the gummint.
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Implement incremental austerity now, or full-out AUSTERITY later. Pick one.
If I want to file my taxes on Jan 4 2013, could I do so? Does the government understand what my rate will be? My deductions? If I go and file, can the IRS change the rules on me later on and demand additional payment, even if I do everything "correctly" the first time?
What are the odds that this is 100% Kabuki Theater and that the IRS knows precisely what the situation will be for tax filers, and has known the final endgame for months?
I believe Obama also wants to go over the cliff.
He gets tax increases which he gets to blame on republicans.
He gets spending cuts which he gets to blame on republicans so that he will take zero heat.
If the middle class is going to vote for European Level spending, they better get used to European Level taxation. The fact that the taxes will fall hardest on Blue States, with the expiration of the ATM patch, is a particular bonus. These people should have to support the spending of the President they chose to re-elect.
Jump already. Democrats don’t give a shit. Jump, raise taxes to 15% on people making min. wage. Jump Obama. You da Man.
We won’t get any of that.
People will get their January paychecks and freak out.
Obama will immediately propose reinstating the old rates for the 98%. The media will kick into hyperdrive blaming the whole mess on Eeeeeeeevil Republicans. Then they will cave.
As a brain-addled Liberal once observed, you don’t need a Weatherman to know which way the wind blows.
I actually am rooting for us to go over the fiscal cliff, even though I will pay significantly more in taxes. Why? Because too many Americans apparently believe the fiction that they can have whatever government spending they want for “free”, with someone else paying the costs.
Maybe if these people come face to face with the costs of what they voted for, they will realize that we are spending way too much. It’s like a customer at a restaurant. If they have to pay the bill, they are going to be much more restrained when ordering from the menu. If someone else is footing the bill, these deadbeats’ tastes get far more expensive.
Give the people what they voted for.
For the left, what “pain” is there here? All the taxes revert back to the same taxes that were imposed by their hero Bill Clinton. He’s the one who set the tax rates high for low and middle income earners.
Fix the AMT, and everything will be the same as it was in the wonderful 90s. Who can complain about that? .....