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Fiscal Cliff Notes

Doug5049 Wrote: Dec 04, 2012 10:36 AM
Hang on to your pre-1965 quarters, dimes, and half dollars. When (not if) $100 bills litter the streets, those old coins will still be accepted as payment for goods and services.

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...