In response to:

Fiscal Cliff Notes

kbecker Wrote: Dec 07, 2012 2:56 AM
"All the pretty talk about how tax rates will be raised only on "the rich" hides the ugly fact that the poorest people in the country will see the value of their money decline, just like everybody else, and at the same rate as everybody else, when the government creates more money and spends it." This is not true. New money, introduced through banks and via Wall Street, is worth more than old money, because the dollar doesn't lose value until it cycles through the economy (just like "information"). This means it is worth more at the start of the money cycle than further along the dollar chain. This advantage can be used to make big money through investment of Fed-issued fiat currency. It's a bankster's paradise.

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...