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Fiscal Cliff Notes

kywriter Wrote: Dec 04, 2012 10:55 AM
He doesn't have to be president; I'd settle with Dr. Sowell, Treasury Secretary or Secretary of the Interior. Fed Reserve chair. Anything allowing him access to governmental financial control. Or Supreme Court Justice; his uniquely brilliant common sense might bring some intelligence to their decisions.

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...