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Fiscal Cliff Notes: Part II

catoosaflash Wrote: Dec 06, 2012 11:14 PM
As tax rates increase, the underground economy will pick up -- cash for services, cash for merchandise. The US has primarily a service economy, so cash for services will have the greatest impact. Also, cash for services is the hardest to track. The underground economy is always with us, but it will accelerate with the increase in taxes.
Dick 2992 Wrote: Dec 07, 2012 1:25 AM
Shhh! Don't tell anybody or they'll establish a whole new level of Tax inspectors to harass us!

Editor's Note: This column is part II in a series. Part I can be found here.

One of the big advantages that President Obama has, as he plays "chicken" with the Congressional Republicans along the "fiscal cliff," is that Obama is a master of the plausible lie, which will never be exposed by the mainstream media-- nor, apparently, by the Republicans.

A key lie that has been repeated over and over, largely unanswered, is that President Bush's "tax cuts for the rich" cost the government so much lost tax revenue that this added to the budget deficit-- so...