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The Fiscal Cliff – Don't Jump!

kenneth416 Wrote: Nov 24, 2012 11:50 AM
Obama can not and will not negotiate fairly, because he thinks that his ideas are best. Rather, he will continue to pursue the "fairness" theme, which is really a redistribution of income, approach. I personally think that the Republicans should accede to his increasing the top 2 tiers of tax rates to those rates which were in effect under Clinton (i.e., the top rate would rise from 35% to 39.6%), but insist on holding the rate on Cap Gains, Dividends, and Interest at the current rates. Then, they should insist on real, immediate, cuts in spending--not just promises to do so in the future. I could find $50 B per year in the DoD budget whisch would not harm national defense, before noon and without working up a sweat.
As the nation nears the so-called fiscal cliff, Republicans in Congress must be wary of the solutions being put forward for a "grand bargain" by President Obama and Democrats in Congress. Unsurprisingly, the President and the Congressional Democrats are using tempting but dishonest rhetoric – calling for "fairness," a "balanced approach," and a "return to Clinton Era tax rates" to balance the budget.

This rhetoric is misleading for several reasons. First, Democrats are not really proposing going back to the Clinton Era tax rates. If income, capital gains and other tax rates were raised to Clinton Era levels, these higher rates would...
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