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Fiscal Cliff Notes

BigOlBear Wrote: Dec 04, 2012 8:58 AM
In an interview, Obama admitted that he realized that a tax increase would do nothing to increase revenue but that it was a matter of "fairness." Ideology trumps practicality. We have an amatuer at the controls of the world's greatest economy. He simply doesn't know what he's doing.

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...