As the Cliff Approaches the President and Leadership of Both Parties Fiddle... Really
by: Les Carpenter
Rational Nation USA
Liberty -vs- Tyranny
Perhaps this is a large part of the problem?
But as there always is two sides, maybe this is a small part of the problem?
As I see it NEITHER side is serious about negotiations. What is being bantered about amounts to meager adjustments and cuts over a ten year period. Meager against a 16 plus trillion dollar national dept anyway.
Until BOTH sides get serious about actually doing something of significance, and yes, that means defense cuts, domestic spending cuts, and, here it comes, simplifying the tax code and establishing rates that based on the simplified tax code results in increasing revenue flowing to the treasury.
Taxing the wealthy and business until all incentive to do business is removed makes no sense. Most intelligent people, although not all, understand this. However, getting rid of tax loopholes used by the wealthy actually does make a lot of sense. This combined with a lower rate would increase revenues flowing to the treasury from the wealthy.
Either the two intransigent sides get serious, work out a compromise that is both meaningful and workable, or I say lets all go over the cliff together pointing fingers all the way to the bottom. Because folks, at the end of the day, both political parties will bear responsibility. Not that this fact will ease the pain the nation will experience.
Oh, almost forgot. Kicking the can down the road only passes the inevitable off for another day.
Via: Memeorandum
Via: Memeorandum
Rational Nation USA
Liberty -vs- Tyranny
Perhaps this is a large part of the problem?
The Weekly Standard - Senate majority leader Harry Reid, a Democrat, made his "fiscal cliff" position clear in a press conference today. "We are not going to do anything," said Reid.
Reid added, "We are not taking up anything they are working on over there."
The top Democrat in the Senate was explaining his inaction on the House plan, the proposal put forward by Republican John Boehner, the speaker of the House of Representatives. Boehner's plan is being referred to as 'Plan B.' {Read More}
But as there always is two sides, maybe this is a small part of the problem?
Politico - Speaker John Boehner, using his harshest tone of the fiscal cliff debate, said the White House has “done nothing” since he relented on letting low tax rates lapse on wealthy Americans.
“For weeks the White House said if I moved on rates, that they would make substantial concessions on spending cuts and entitlement reform,” Boehner said in an afternoon news conference. “I did my part, they’ve done nothing.” {Read More}
As I see it NEITHER side is serious about negotiations. What is being bantered about amounts to meager adjustments and cuts over a ten year period. Meager against a 16 plus trillion dollar national dept anyway.
Until BOTH sides get serious about actually doing something of significance, and yes, that means defense cuts, domestic spending cuts, and, here it comes, simplifying the tax code and establishing rates that based on the simplified tax code results in increasing revenue flowing to the treasury.
Taxing the wealthy and business until all incentive to do business is removed makes no sense. Most intelligent people, although not all, understand this. However, getting rid of tax loopholes used by the wealthy actually does make a lot of sense. This combined with a lower rate would increase revenues flowing to the treasury from the wealthy.
Either the two intransigent sides get serious, work out a compromise that is both meaningful and workable, or I say lets all go over the cliff together pointing fingers all the way to the bottom. Because folks, at the end of the day, both political parties will bear responsibility. Not that this fact will ease the pain the nation will experience.
Oh, almost forgot. Kicking the can down the road only passes the inevitable off for another day.
Via: Memeorandum
Via: Memeorandum
No one is talking about taxing the wealthy and business out of existence. We're talking about a 3.4 to 4.6 percent increase on the top income tax rate.
ReplyDeleteAnd when you talk about "closing loopholes" let's face it - not gonna happen. The sorts of loopholes the GOP are talking about closing are the mortgage interest deduction, the earned income tax credit, and the state a local tax deductions. In other words - "loopholes" that benefit the working class. They are not the least bit interested in going after the other many loopholes the wealthy and businesses enjoy.
Simplifying the tax code sounds wonderful (as does "simplifying" most anything) until you realize that simple isn't always such a good thing, let alone the best way to approach complexity.
Granted, simplifying the codes in general could close the non-payment gap (which is now in the hundreds of billions per year), but how and what we simplify is the key to making that worth the worth the while. If we close the gap by raising taxes on the working class, we double-play the economy down. If we close the gap by making the IRS more effective, then we avoid two strikes, and the double-play, to continue my baseball metaphor.
I could go on, but this is a very complex subject. One thing or two at a time is best.
JMJ
Yup, just raise taxes, leave all else alone. To hard to do the real tough work of actually making some sense. After all jmj, if it's broke don't fix it right? So, lets go over the cliff.
DeleteThe oligarchs continue to laugh, and laugh, and laugh. :_)
See ya at the bottom someday maybe. Although it is much more liokely the next eneration will hit the bottom. I sense a "can kick" in the making.
Behold, our narcissistic President. You see, since kids were killed in Sandy Hook, and Hurricane Sandy hit us, the Republicans should just agree to his economic desires. Yikes. Non-sequitur, anyone?
ReplyDeletehttp://www.perigonmedia.com/obama-politics-kids-have-been-killed-so-pass-my-plan/
This reminds me of when people say, "Well, if you really loved me, you would (fill in the blank)". Despicable.
Actually Don, in my estimation if 1) we go over the cliff, or 2) they just kick the can further down the road and nothing of real substance takes place (most likely) the responsibility will rest on both parties.
DeleteSo, if Reid, Boehner, and Obama, along with the rests of the puppets want to play there games I say lets take a ride right over that there cliff. Maybe disaster will get their attention.
Going over the cliff will not be a disaster, that's just another reactionary, false claim.
ReplyDeleteOnce again you miss the point. But really that is not surprising.
DeleteSo, why, in economic terms do you hold going "off the cliff" won't, using my rhetorically chosen term, result on disaster?
Or is your statement just another false progressive claim?
You keep saying I'm missing the point. Your words are clear, until you want to change them to not appear to be so partisan. You made the ridiculous claim, you answer why going over the cliff would be disastrous for America? It will not.
ReplyDeleteGuess you'll have to wait and see then, won't you. Like I said you miss the point. But it isn't worth talking about because it is in the hands of the idiot politicians we elected to Congress and the White House who have no plan to resolve the problem.
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