In response to:

About That Fiscal Cliff

wiseone Wrote: Nov 21, 2012 3:28 PM
Tax increases will DECREASE revenue to the Treasury, especially the way the Democrats are doing it by increasing taxes on the very people we need to invest in new businesses and/or industry and by reducing the profits they hope to gain with such investments by increasing the taxes on capital gains. This lesson has been taught every time in my lifetime when taxes have increased or been decreased and still no one seems to learn it.
Yikes, we're headed toward a fiscal cliff! It will crush the economy! Or so the media and politicians tell us.

The "cliff" is a series of tax increases and budget cuts that automatically go into effect Jan. 1 unless Congress acts.

Will Congress act?

It will! I see the future: The politicians will meet and fret and hold press conferences and predict disaster. Then they'll reach a deal.

It will just postpone the reckoning, but they'll congratulate themselves, and the media will move on.

America, however, continues to go broke.

"They're not going to admit that we're bankrupt, and they won't...