In response to:

Now It's Time for the Entitlement Cliff

Righty3 Wrote: Jan 01, 2013 12:47 PM
Does that include, say, your grandparents who may have been here in 1933 when Social Security was enacted? They never "paid in", yet received benefits. Workers pay for the previous generation - it's a bad idea, but it's been that way since the beginning.

As the clock winds down on 2012, the Fiscal Cliff is all anyone seems capable of discussing. Right now it appears that some sort of narrow deal has just emerged that will include raising tax rates on family income over $450,000 a year, increasing the estate tax rate, extending unemployment benefits for one year, and delaying spending cuts.

But the prospect of higher taxes and the great uncertainty that has surrounded this fiscal fiasco has been acting like sand in the gears of the complex but sputtering U.S. economy. If additional taxes are not matched by real cuts in government...