Let's Root For "Going Over The Cliff"...
- Thread starter Scataphagos
- Start date
Again,let em go up,the gop will take the blame.Obama knows this,boner knows this.The fact that Obama is sticking to his guns and boner is coming up with a new plan everyday should tell you who has the upper hand
In spite of the "Going over the cliff will be a disaster" rhetoric, I don't see it as that big of a deal financially... but could be a wake-up call.
The cliff means about $640B in tax increases (from ALL of the 1/2 of us who pay Federal Income Tax... not just the small group Odumbo seeks to punish), and about $120B in spending cuts between Defense and Social spending. That would leave us with "only" about $400B in projected deficit for the year.
IOW, the "cliff" is dramatic political theater.. but in a real and financial sense, little more than chicken feed.
It Boner and Odumbo come to some lame agreement like ones being proposed currently... leaving us with $800Bn deficit AFTER the tax increase, it's all been just a circle jerk!
NO TAX INCREASES ON ANYBODY UNLESS BALANCED BUDGET!!!
The cliff means about $640B in tax increases (from ALL of the 1/2 of us who pay Federal Income Tax... not just the small group Odumbo seeks to punish), and about $120B in spending cuts between Defense and Social spending. That would leave us with "only" about $400B in projected deficit for the year.
IOW, the "cliff" is dramatic political theater.. but in a real and financial sense, little more than chicken feed.
It Boner and Odumbo come to some lame agreement like ones being proposed currently... leaving us with $800Bn deficit AFTER the tax increase, it's all been just a circle jerk!
NO TAX INCREASES ON ANYBODY UNLESS BALANCED BUDGET!!!
Spot on post. Going over the fiscal cliff is the only way we will see actual spending cuts, not some fictitious reduction years from now. House Republicans from my state (Oklahoma) will have hell to pay from their constituents if they cave.
The VAST majority in this state understand we have a problem over spending and raising taxes isn't the answer.
NO TAX INCREASES ON ANYBODY UNLESS BALANCED BUDGET!!!
I am actually more worried about the increase in the estate tax, cap gains and few other details than the tax rates. Like a lot of people, I pay at AMT rates, and an increase in rates probably won't affect me much if at all.
Rush has been making the point that obama can just come back in december and propose his version of tax relief, and the republicans will have no choice but to go along. I really don't see why. If we go over the cliff and the economy starts tanking, it seems to me time is on the republican's side, not obama's. He can't force them to vote on anything in the House.
Plus, Boehner always has the debt ceiling to use to whip obama back into line.
Rush has been making the point that obama can just come back in december and propose his version of tax relief, and the republicans will have no choice but to go along. I really don't see why. If we go over the cliff and the economy starts tanking, it seems to me time is on the republican's side, not obama's. He can't force them to vote on anything in the House.
Plus, Boehner always has the debt ceiling to use to whip obama back into line.
