Are You Concerned about the Fiscal Cliff?

[TalonStrike]

I'm really not. So what if taxes go back to what they were under Clinton, when everyone was prosperous? It's just the media making a big hullabaloo over nothing again.

 

[ericlp]

why worry? What good is it really gonna do? Take your prozak and go back to bed!

 

[GreenMeters]

The economy is still struggling with demand-side weakness so it's not a great time for austerity measures to kick in. And it'd suck for all those still un-or-under-or-tenuously-employed from the Bush depression to get kicked again by the resulting Republican recession. But it wouldn't be anything like 2008, and if it comes down to going over the so-called cliff or allowing Republicans to gut essential safety net services, then the cliff is the better choice.

 

[bozack]

I say they should do nothing but feel that if we do nothing the coveted middle class will feel the pain the most, I know my costs are already going up next year but what are you going to do...

 

[glenn1]

I hope we do. Taxes will go up across the board and broadening the tax base, and the cuts to military and social spending fine, if not too low and overdue.

 

[Doppel]

No, it won't happen. It's just fear mongering rubbish; not even paying attention to any of the news about it.

I think taxes should go up across the board and yet that includes me (and no i am not going to do it unless everybody else has to--that defeats the point), but I don't for a second believe they will.

 

[Jaskalas]

...making a big hullabaloo over nothing again.

We need a big hullabaloo to club people over the head with. Both sides are using it against their enemies.

It's poetic... in a sick and twisted American politics way.

 

[IronWing]

We went off the fiscal cliff back when the Bush tax cuts were passed into law. Now it's time to pay the piper.

 

[SparkyJJO]

We went off the fiscal cliff back when the Bush tax cuts were passed into law. Now it's time to pay the piper.

Oh yes, it's all his fault again...

No, we were headed for the cliff way back when we started consistently racking up debt.

 

[dullard]

I say go over it. Tweak things a bit since the fiscal gentile slope is a bit rocky, but in general go over it. In one fell swoop we can fix both our medium-term spending and our medium-term taxes without doing a thing!

At 2.7% GDP growth, I think it IS time for this mild austerity.

Once the economy dust has settled, then we can look at the remaining long-term problems. They will be MUCH more solvable when the current budget is basically under control. Hopefully we'll have a new congress by then too (in 2015).

 

[dullard]

No, we were headed for the cliff way back when we started consistently racking up debt.

Which is when we backloaded the tax cuts and spending increases. Hint the early 2000's tax cuts didn't happen at once; they were designed to get deeper and deeper towards the end of Bush's term. The prescription drug expenses and military spending also didn't occur when those mistakes were made.

 

[trenchfoot]

Oh yes, it's all his fault again...

No, we were headed for the cliff way back when we started consistently racking up debt.

Clinton balanced the budget. Let's start from there and see who really racked up the debt since then.

 

[SparkyJJO]

Clinton balanced the budget. Let's start from there and see who really racked up the debt since then.

Convenient starting point, ignoring everyone else. Sorry charlie, doesn't work that way. He's certainly not the "norm." But, if you want to try and skew things by starting there, we could say that Bush started the engine, put it in drive, and Obama is making sure to push the accelerator as hard as he can.

 

[dmcowen674]

I say they should do nothing but feel that if we do nothing the coveted middle class will feel the pain the most, I know my costs are already going up next year but what are you going to do...

Yes, let it happen.

This way Real Americans can see the destruction being done by Republicans by having their pockets even more deeply affected.

Hopefully it will be the end of the Republican party.

 

[khon]

The fiscal cliff is basically just going back to the Clinton tax rates + some defense cuts.

From a liberal perspective, that's really not bad at all.

Also, the media will almost never mention this, but the "fiscal cliff" actually reduces the deficit by more than 50%.

 

[dmcowen674]

Also, the media will almost never mention this, but the "fiscal cliff" actually reduces the deficit by more than 50%.

:thumbsup:

 

[MagickMan]

Ayup, I'm not afraid to say that I'm in the 1%. Whatever. Raising LTCG to equal STCG doesn't bother me, but it will change investment strategies across the board, and that will make for a more volatile market.

Proposal:

STCG to match tax bracket
LTCG raised to a flat 30% for those making over $500k /yr, 18% for everyone else

It's easy, raises revenues, and it gives an incentive to stick with long term securities.

 

[dmcowen674]

Ayup, I'm not afraid to say that I'm in the 1%.

I respect and applaud you for admitting you are in the 1%.

 

[bozack]

Yes, let it happen.

This way Real Americans can see the destruction being done by Republicans by having their pockets even more deeply affected.

Hopefully it will be the end of the Republican party.

Dave we will as usual have to disagree here, however in my assessment it will reflect more on the party holding the highest office than it will the current minority party, a pure sign that the president and the democrats didn't have the ability to work with the republicans, further it is the increases in taxes and fees which will be felt the most, something people are well aware are a part of the democrat platform, the only thing they aren't counting on is those higher fees and taxes hitting the middle class (which they will)...

Already read an article about how access to Pell grants have been reduced by 30% *application windows have been reduced dramatically....health care costs seemingly are going up, and I am sure this trend will continue especially without major cuts to social programs.

 

[Ausm]

Why worry? I hope the Repuglicants in Congress double down on stupid this move will get even more of their asses out of Congress.

 

[dank69]

Convenient starting point, ignoring everyone else. Sorry charlie, doesn't work that way. He's certainly not the "norm." But, if you want to try and skew things by starting there, we could say that Bush started the engine, put it in drive, and Obama is making sure to push the accelerator as hard as he can.

Yes, we are ignoring the other Republicans before Clinton. You have a problem with that? You want to call that skewed? Skewed toward whom? And everyone here knows why Obama had to spend so much, except for you apparently. He had to spend that extra money to stop the bleeding caused by the recession. BUt you'll just conveniently ignore that because it contradicts your talking points and your entire world philosophy.

In fact, I don't have to look any further than your three-part signature, made up coincidentally of three straw man arguments, to see that you are a complete idiot.

 

[michal1980]

Why worry? I hope the Repuglicants in Congress double down on stupid this move will get even more of their asses out of Congress.

The awesome power of the liberal left wing media.

Democrats own 2/3rds of goverment. yet anything bad that happens is the republicans fault.

 

[Pr0d1gy]

a pure sign that the president and the democrats didn't have the ability to work with the republicans.

Come on man, you can't really be trying to pass off this notion as a reality to anyone who is actually paying attention. Repub leaders have been stonewalling Obama since he won the first election and have openly said so. If anyone is not working together it is the right.

Back to my answer. Hell no I am not worried. If we go over the cliff maybe home prices will finally get back to where they were supposed to be all along. That means if my wife manages to survive the cuts in the government we should be in the market for a big, beautiful new house.

 

[Ausm]

The awesome power of the liberal left wing media.

Democrats own 2/3rds of goverment. yet anything bad that happens is the republicans fault.

Says the Rethuglicant who backs the party who obstructed every move of the Democrats to help improve unemployment and the economic recover of the worst Recession since the great Depression during President Obama's first term. I don't see any change in his second term which will mean even LESS obstructionism after the next Election cycle. :twisted:

 

[JTsyo]

I fear they'll push it off and then it's becomes like the debt ceiling debacle every year.