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Getting the Jitters Over Fiscal Cliff

johnm h Wrote: Oct 15, 2012 2:29 PM
The Republican House actually passed a budget that would have begun the repair, but the Senate let it die because Obama wouldn't have signed it. Now that bill would be too modes. But you are right Romney will inherit a mess and to fix it will be difficult and hazardous. But there is no choice. This fiscal cliff cannot be avoided by raising marginal income tax rates. A consumption tax or real tax reform that makes investment attractive combined with deep cuts, and regulatory reform will enable us to avoid the fiscal cliff if they are real, quick, and substantial. Anyone called flaming liberal couldn't understand this.
jwarrior1 Wrote: Oct 16, 2012 2:57 AM
1. Republicans passed a budget, Democrats in Senate NOT.
2. Job creators taxed on capital gains NOT income tax.
3. Capital invested for capital gains was ALREADY TAXED at some point as income at the higher income tax rate. The capital to be invested is WHAT WAS LEFT OVER after the GOVERNMENT TOOK the ENORMOUS bite out of it ALREADY.
johnm h Wrote: Oct 15, 2012 4:12 PM
The super wealthy, such as Soros, Buffet, Gates, and other billionaires who support Obama, don't pay income taxes on most of their income as it is in the form of unrealized capital gains. The upper middle class who Obama is targeting do pay most of the taxes, but the amount collected in inversely related to the rate. So the issue is whether one wants to rant mindlessly for populist approval or actually raise revenue, close the deficit and shrink the debt. You obviously favor mindless demagoguery.
FlamingLiberalMultiCulturalist Wrote: Oct 15, 2012 3:38 PM
The Republican House budgets turn Medicare/SS into just another social p;rogram that will be blown off in favor of defense. And YES there ARE additional choices, namely raising taxes on the wealthy from their current historic lows. And please to not natter about the 'Job Creators' creating jobs. The exalted 'Job Creators took the trillions of Job Creation funds Buch gave them in 2002-2003 and instead created unprecedented wealth concentration and no jobs.

Increased revenues MUST be part of a just solution to the fiscal cliff.

Legislators who have Lobotomized their brains and replaced them with Grover Norquist's anti-tax pledge cannot understand this.

With the threat of plunging over a fiscal cliff in less than 90 days CEO’s from all different areas are beginning to sound the alarm bells and planning for a worst-case scenario.  Goldman Sachs CEO Lloyd Blankfein said that the U.S. is heading towards fiscal disaster.  “We have $7.7 trillion worth of economic events that are going to hit America in the gut in December, and in Washington they’re doing nothing about it.”  

There is no doubt and no one can deny that Washington is being extremely irresponsible and going down a dangerous road by not...

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