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Fiscal Cliff Notes

normfromga Wrote: Dec 04, 2012 8:49 AM
I agree...The Republicans wanted spending cuts, the Dems wanted tax hikes... What's not to like? Once EVERYONE feels the pain, perhaps we will finally get serious about REAL tax reform, not just tweeking rates and breaks. Myself, I favor the one suggested by Ron Paul: Flat tax...at 0%, returning to the pre-16th Amendment days, where most of our revenue was from import goods. Let China and the multinationalists pay our taxes, while we revigorate the manufacturing base of our economy.

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...