In response to:

Fiscal Cliff Notes

Doug1605 Wrote: Dec 04, 2012 1:18 AM
Most voters have no idea how increases in the money supply creates inflation. Many others do not care because they are debtors, not savers, and expect cost of living increases in their payroll or government checks. Obama received about 65,350,000 votes. Given that our debt has increased 5.7 trillion dollars under his leadership, it means he borrowed and spent over 87,000 dollars for each vote and sent the bill to future Presidents. And, apparently, none of his voters care. I wish Republicans would have focused on the need to balance the budget two years ago and allowed incomes taxes to go up for everyone. The economy would have gone back into recession and we would have a new President next month.

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...