Let’s go over the fiscal cliff

Let’s go over the fiscal cliff

Posted in the Minneapolis Forum

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“We have 545 traitors.”

Since: May 11

Parts Unknown

#1 Nov 19, 2012
http://www.washingtonpost.com/opinions/marc-t...

While the Bush tax cuts expire on Dec. 31, so do a lot of tax policies the Democrats support. For example:

●The 10 percent income tax bracket would disappear, so the lowest tax rate would be 15 percent.

●The employee share of the Social Security payroll tax would rise from 4.2 percent to 6.2 percent.

●An estimated 33 million taxpayers — many in high-tax blue states — would be required to pay the alternative minimum tax, up from 4 million who owed it in 2011.

●The child tax credit would be cut in half, from $1,000 today to $500, and would no longer be refundable for most.

●Tax preferences for alternative fuels, community development and other Democratic priorities would go away.

●And the expansions of the earned income tax credit and the dependent care credit would disappear as well.

Right now, Democrats are demanding that Republicans raise taxes while Republicans are demanding that Democrats agree to cut Social Security and Medicare spending. A grand bargain this fall, then, would mean that Republicans get to raise revenue from their own supporters (small-business job creators) in exchange for cutting spending for their own supporters (seniors). Genius! Much better to wipe the slate clean, and start over with more leverage for fundamental tax reform and structural entitlement reform.

What if we go off the fiscal cliff and Democrats still won’t negotiate? Then Republicans should make clear that they are willing to live with the higher, Clinton-era rates. It will be hard for the Democrats to paint such a scenario as an economic disaster, because letting the Bush tax cuts expire simply restores the status quo during the Clinton administration. During the campaign, President Obama repeatedly told us how he wants to “go back to the income tax rates we were paying under Bill Clinton — back when our economy created nearly 23 million new jobs, the biggest budget surplus in history, and plenty of millionaires to boot.” Well if the Clinton tax rates were so great, let’s go back to all of the Clinton rates and relive the booming ’90s.

At least going back to the Clinton rates would put more people on the tax rolls, and give more Americans a stake in constraining government spending. It would also force all Americans — including the middle class — to pay for growing government services, instead of borrowing the money from China and passing the costs on to the next generation.

Americans had a choice this November, and they voted for bigger government. Rather shielding voters from the consequences of their decisions, let them pay for it.
CRASSUS

Neenah, WI

#2 Nov 19, 2012
This fiscal cliff thing sounds like fun. I can't wait to go over it! Weeeeeeeeeee
Freedom Fries

Ankeny, IA

#3 Nov 19, 2012
I'm down let's go for it!

We'll fix the tax code with Rand Paul in 2016

HaHaHa

it wants me to type in "1776" in order to post my comment!

Smart Liberal

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

#4 Nov 19, 2012
Freedom Fries wrote:
I'm down let's go for it!
We'll fix the tax code with Rand Paul in 2016
HaHaHa
it wants me to type in "1776" in order to post my comment!
I'm game.
Capt Crunch

Fountain Hills, AZ

#5 Nov 19, 2012
Count me in.
digger

Minneapolis, MN

#6 Nov 19, 2012
Blern wrote:
http://www.washingtonpost.com/ opinions/marc-thiessen-lets-go -over-the-fiscal-cliff/2012/11 /19/be05bc72-3251-11e2-9cfa-e4 1bac906cc9_story.html
While the Bush tax cuts expire on Dec. 31, so do a lot of tax policies the Democrats support. For example:
●The 10 percent income tax bracket would disappear, so the lowest tax rate would be 15 percent.
●The employee share of the Social Security payroll tax would rise from 4.2 percent to 6.2 percent.
●An estimated 33 million taxpayers — many in high-tax blue states — would be required to pay the alternative minimum tax, up from 4 million who owed it in 2011.
●The child tax credit would be cut in half, from $1,000 today to $500, and would no longer be refundable for most.
●Tax preferences for alternative fuels, community development and other Democratic priorities would go away.
●And the expansions of the earned income tax credit and the dependent care credit would disappear as well.
Right now, Democrats are demanding that Republicans raise taxes while Republicans are demanding that Democrats agree to cut Social Security and Medicare spending. A grand bargain this fall, then, would mean that Republicans get to raise revenue from their own supporters (small-business job creators) in exchange for cutting spending for their own supporters (seniors). Genius! Much better to wipe the slate clean, and start over with more leverage for fundamental tax reform and structural entitlement reform.
What if we go off the fiscal cliff and Democrats still won’t negotiate? Then Republicans should make clear that they are willing to live with the higher, Clinton-era rates. It will be hard for the Democrats to paint such a scenario as an economic disaster, because letting the Bush tax cuts expire simply restores the status quo during the Clinton administration. During the campaign, President Obama repeatedly told us how he wants to “go back to the income tax rates we were paying under Bill Clinton — back when our economy created nearly 23 million new jobs, the biggest budget surplus in history, and plenty of millionaires to boot.” Well if the Clinton tax rates were so great, let’s go back to all of the Clinton rates and relive the booming ’90s.
At least going back to the Clinton rates would put more people on the tax rolls, and give more Americans a stake in constraining government spending. It would also force all Americans — including the middle class — to pay for growing government services, instead of borrowing the money from China and passing the costs on to the next generation.
Americans had a choice this November, and they voted for bigger government. Rather shielding voters from the consequences of their decisions, let them pay for it.
I say, LET IT HAPPEN. Austerity would be the new policy. Would I be hurt? Maybe, probably, but I am prepared to deal with it.

Either it is a lot of pain now, or a lot MORE PAIN LATER. Doesn't matter if you are a democrat or republican. I'm tired of the Wash DC scharade....
Amused Slew

Kent, WA

#7 Nov 19, 2012
charade...??? Yeah, you can't write it, but feel intelligent enough to comment, poorly/stupidly.
Capt Crunch

Black Canyon City, AZ

#8 Nov 21, 2012
Amused Slew wrote:
charade...??? Yeah, you can't write it, but feel intelligent enough to comment, poorly/stupidly.
And some people still say that liberals are not stupid. With proof like this, how can they keep denying it? Oh wait, deny, deflect,etc, yes, now I understand.
Amused Slew

Kent, WA

#9 Nov 21, 2012
Liberals won the election, you spent $400 million to lose...Even the table "gets" simple math better, than teabaggers... LMAOROTFU~!
Capt Crunch

Black Canyon City, AZ

#10 Nov 21, 2012
Amused Slew wrote:
Liberals won the election, you spent $400 million to lose...Even the table "gets" simple math better, than teabaggers... LMAOROTFU~!
The number of votes that the union thugs and crooked poilticians were able to buy, has nothing to do with your apparent stupidity.
It is significent, and apparent to all.
Amused Slew

Kent, WA

#11 Nov 21, 2012
significent..

Yep, I do see stupidity, but you're THE BEST, at it.
Capt Crunch

Black Canyon City, AZ

#12 Nov 21, 2012
Amused Slew wrote:
significent..
Yep, I do see stupidity, but you're THE BEST, at it.
Yeah, I get it. From the school yard days, right? I am rubber, you are glue..... Excellent indication of your insignificat intelligence.
Amused Slew

Kent, WA

#13 Nov 21, 2012
significent.. is usually spelled significant, but change the focus quick f-up....

Yep, I do see stupidity, but you're THE BEST, at it.
Capt Crunch

Black Canyon City, AZ

#14 Nov 21, 2012
Amused Slew wrote:
significent.. is usually spelled significant, but change the focus quick f-up....
Yep, I do see stupidity, but you're THE BEST, at it.
More evidence uf your stupidity. Only stupid people flaunt their mastery of spellcheck as if it were a major accomplishment. Yes, I understand that for you,. it may have been an event worthy of a lifetime acheivment award, but don't keep on embarassing yourself.

“We have 545 traitors.”

Since: May 11

Parts Unknown

#15 Nov 21, 2012
Both sides will be fighting about how to kick this can further down the road. Its time for these measures, just like any household that is buried in debt needs to pick a date and tighten their belts. Spend less while making more. Its our only chance. On January 1st, we start the painful process of digging out of this hole. We all got us here, we will all need to get us out.
CRASSUS

Neenah, WI

#16 Nov 21, 2012
Blern wrote:
Both sides will be fighting about how to kick this can further down the road. Its time for these measures, just like any household that is buried in debt needs to pick a date and tighten their belts. Spend less while making more. Its our only chance. On January 1st, we start the painful process of digging out of this hole. We all got us here, we will all need to get us out.
You must be insane in the membrane. I'm not a stupid woman who had kids with three different drug dealing black guys that don't pay child support. I not an illegal immigrant who can't speak English and has five kids on welfare. I'm not an idiot who got a home loan, but shouldn't had qualified and than took out an equity loan to buy a boat and a new truck and than walked away. Ect. You can help the idiots all you want. I have a parachute for when we go over the cliff.
Amused Slew

Kent, WA

#17 Nov 21, 2012
Capt Crunch wrote:
<quoted text>
More evidence uf your stupidity. Only stupid people flaunt their mastery of spellcheck as if it were a major accomplishment. Yes, I understand that for you,. it may have been an event worthy of a lifetime acheivment award, but don't keep on embarassing yourself.
I don't flaunt or consider it a "major" accomplishment, any 3rd grader can use spell check...Have one teach you ...sometime. LMAOROTFu !

“We have 545 traitors.”

Since: May 11

Parts Unknown

#18 Nov 21, 2012
CRASSUS wrote:
<quoted text>You must be insane in the membrane. I'm not a stupid woman who had kids with three different drug dealing black guys that don't pay child support. I not an illegal immigrant who can't speak English and has five kids on welfare. I'm not an idiot who got a home loan, but shouldn't had qualified and than took out an equity loan to buy a boat and a new truck and than walked away. Ect. You can help the idiots all you want. I have a parachute for when we go over the cliff.
Not individually, but collectively, its our fault. The American people have been getting duped for generations. We believed the lies and voted for the people that got us here. We believed the right when it said, "This war will be over quickly", and we believed the left when it said, "This social program is revenue neutral and pays for itself". We ignored the voices that said, "this war is too costly and can never be won" and "there is no way this social program is sustainable". America just did it again. America... as in 'we', not 'they'.
Amused Slew

Kent, WA

#19 Nov 21, 2012
It's SURE your fault for electing Bushwhacker....
Capt Crunch

Black Canyon City, AZ

#20 Nov 22, 2012
Amused Slew wrote:
It's SURE your fault for electing Bushwhacker....
Happily, we now have the second coming of the Messiah, who, in spite of the terrible mess that he inherited from his immediate precurser, is just about to cure all our woes and put a new Volt in every garage. Oh, happy day, when the light from his prescence shone upon us. I say, go for it, Messy.

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