In response to:

Fiscal Cliff Notes

L. Stephen Wrote: Dec 04, 2012 11:03 AM
But, you assume a dollar today is a full dollar. The $6.00 today is about $1.20 in 1962 value. (The dollar has lost about 80% of it's 1962 value) The dollar today is worth about $.20 vs 1962 value. With gas at $3.50 / gal that averages about $.34 / gal in 1962 dollars. Does that make sense???

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...