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Republicans Have Already Lost Fight on Fiscal Cliff

Ron781 Wrote: Nov 15, 2012 12:45 PM
John F. Kennedy, an icon of the Democratic Party who pushed for deep tax cuts, argued, "A rising tide lifts all boats." Urging a tax rate cut, Kennedy said: "It is a paradoxical truth that tax rates are too high today and tax revenues are too low -- and the soundest way to raise revenues in the long run is to cut rates now. The experience of a number of European countries has borne this out. This country's own experience with tax reductions in 1954 has borne this out, and the reason is that only full employment can balance the budget -- and tax reduction can pave the way to full employment. The purpose of cutting taxes now is not to incur a budgetary deficit but to achieve the more prosperous expanding economy which will bring a...
Auspex Wrote: Nov 15, 2012 5:04 PM
And Kennedy was at one time considered a liberal. Man, I would give my right eye for a good old fashioned Kennedy-style liberal about now...! The "progressives" of today make Kennedy look like a hard-core conservative!

You'll remember that President Barack Obama was the only candidate with a detailed plan to deal with the impending fiscal unpleasantness. And, as the president explained this week during his first press conference since winning re-election, "more voters agreed" with him, so naturally, it's time to give the people what they want.

So what do we win? Well, turns out there's only one detail worth remembering when dealing with the slew of tax hikes that kick in next year: We must reverse Bush-era tax rates on the rich. According to rosy projections of the Congressional Budget Office, this would...