Fiscal Cliff facts
Posted in the Townsend Forum
#1 Dec 7, 2012
The CBO estimates suggest the 20% of households with the lowest incomes might see their taxes rise by $412.
If you're in the middle 20% of income levels -- between $39,791 and $64,484 -- the average increase would be $1,984. If you're in the top 20%--$108,267 or above -- the CBO is estimating an average increase of $14,173.
If you're in the top 1%-- with income above $506,210 -- the average increase might be about $120,500.
The threat of the cliff is the result of Congress' inability in 2011 to come up with a package that would satisfy everyone. It came after threats of a government shutdown, a downgrade of U.S. debt by Standard & Poor's and a short, intense panic in financial markets that sent the major stock market averages down.
#2 Dec 7, 2012
Is it true that earners making under $250,000 taxes will go up by 279 Billion ?
And those that makeover $250,000 taxes will go up by 53 Billion?
So, what this states is that the US economy will have $279 Billion sucked outof it? This is the biggest consumer spending block in the world!!!
Now, what else it states is that the foreign economies world wide will see a decreasein investments by 53 Billion?
Americans need to vote asap! If we allow these either legitimately dumb republicans or acting dumb Republicans out of office then America as we know it will not exist any longer.
#3 Dec 7, 2012
So,how does a supposed conservative Republican explain these facts away?
So, the American economy will suffer a 279 Billion dollar defeciet?
While Republicans hold out for foreign interests of the 53 Billion that will be their defeciet due to Americas wealthy not being able to invest these Billions oversees?
The truth is that the Republicans are worried that the wealthy will not be able to fill their coffers any longer!??
#4 Dec 7, 2012
The republican obstructionist should be charges with espionage at this rate!
True change would be to out the US chamber of commerce as a foreign interests and cut all ties!
This would signal true leadership!
If anyone is serious about repairing and strengthening America then stand up and stand for what is right for America!
Hold American corporations accountable!
We need to get out of this greedy stage that CEOs have put America in. They are sick so bad that it is pure evil by any standards!
#5 Dec 7, 2012
They shipped American jobs overseas for massive profit and then they invest in other countries?
The malls are empty except for the holidays and wealthy areas. The wealthy actually earned millions due to the fact that millions in America suffered greatly!
The republicans are bluffing as they will not the middle class to suffer greatly. This would be a great win for the democrats if they ruin America by thumbing their corrupt anti American obstructionist republican noses at hard working American majorities! We will dedicate our lives to electing more democrats in big numbers!
Ignoring the middle
Class will destroy the American way instantly!!! The us economy cannot sustain a 279 Billion dollar reduction from the very heart of our consumer market!
Message to the republicans, try our resolve and our numbers!!!!!!!!! We will wake up the monster that republicans always fear and that is the American citizen who we will get to vote!!!!!
#6 Dec 7, 2012
Firstly Dumb Ass...
This is the second half of the agreement Obama made with Congress when he insisted that Uncle SAM wasn't in enough debt and we must increase our debt ceiling. You are very conveniently trying to forget that...Obama got his debt increase, now comes the hard part...paying for it.
Secondly you stupid moron...
A household earning $ 38,000 might see a tax increase of $412...a 1% increase in taxation while a $ 50,000 earner might see a 4% increase and a high earner at 5% and the wealthy at 120,000 in new taxes.
Our taxation system is progressive and as you can see, the more money you make, the more money they take.
Obama isn't interested in living up to the bargain he made with Congress for cutting spending and he is even advocating for increasing spending. I don't expect you to understand or care about where the money comes from because you are a sociaety leech.
Please crawl back into your hole...
#8 Dec 7, 2012
I think the first thing you need to worry about is getting a job before you can comment on the people who are employed !
#9 Dec 7, 2012
Hey moron, you are wrong!!!! But as you were many other times you will not admit to it!!!!
The facts I printed are official facts!!!! Not what you like to hear bit in other words it is the TRUTH !!!!
Before Obama was sworn into president the first term he stayed that EVERY economist has only seen complete collapses and doom for the us economy. Even bush has since stated twice during his only two interviews that the economy was in complete collapses with only dire predictions ahead! You conveniently forget that American economy matched that of
Greece at the end of the bush term!!!!'
#10 Dec 7, 2012
Of course it will fail because lazy pricks like you won't get a job. And now you are looking to punish tax payers to pay for your weak ass.
#11 Dec 7, 2012
You are a complete idiot!!! Please do not vote ever again as you are a complete and utter idiot!!!
You have absolutely no clue at all how the economy works in America! Let me ask you! Say they extend tax cuts for the wealthy but not for people making under 250,000 ? What happens? Explain please???
Now say they extend tax cuts for those making under 250,000 but discontinue the tax cuts for the wealthy what happens????
For example, under the first scenario wallmart and the like will lay off thousands!!!!!
Under the second scenario wallmart/the job creators as you label them hire additional workers!
Please get a glimpse of a ding clue, please!!!!
Our tax system is progressive?
#12 Dec 7, 2012
Your mother was a leach that gave birth to you as a result of a drinking binge she was on.
You cannot understand logic at all which you have proven over and over!!!!
Halliburton alone received 53 billion which was spent on two wars and to reconstruct what we blew up!!! Now they are in Dubai with all the other corporate vultures that stole American treasures, fact!!!!!
They were successful alright, they succeeded on depleting the us economy as it will go down as the biggest Hiest of wealth in the worlds history!!!
#13 Dec 7, 2012
Is this the anti pot smoker that has plants growing in her yard and garage??? Let me know as the pictures depict as much!!!
My tax plan is this: continue the tax cuts for those making under 250,000 and give them an additional 2 percent cut! Let the tax cuts expire for those making over 250,000. Then increase by one percent for every additional million earned and any and all making over 20 million will pay a 60 percent rate!!
Then close all the loopholes that the wealthy have totally abuse !
Then the government could give grants and loans to pro American start ups!!!!!
#14 Dec 7, 2012
We get it, you're scared to death you might have to get a job.
#15 Dec 10, 2012
Lynch won't go get a job...he will just find another way to scam. He is a convicted felon and a murderer, so I expect very little from him.
I expect him to advocate for the people that contribute the least into the system, but expect the most from the system. That is his MO and he has been a leech on society for so long, that is all he knows.
Lynch...discussing anything of any importance with you is a lost cause because you have no friggin clue how a proper system is supposed to function. Your view is colored by your need to TAKE from a system and expect others to be resposible for keeping the system alive. You are the worst kind of American.
#16 Aug 4, 2013
#17 Aug 5, 2013
You have no idea what you're talking about! The debt ceiling is raised to pay for obligations and spending that has already occured.
All you have is a problem with Blackmanistan!
#18 Aug 5, 2013
Oh and you might notice, the deficit has shrunk faster than any other time in history. You'd like to ignore that. You're method of simply posting BS lies has long been exposed loser.
#20 Aug 5, 2013
Only the current crop of ridiculous braindead Tea bagger Republicans would even consider holding the well being of the country hostage trying to do something that is NOT EVER GOING TO HAPPEN!!!! Kind of like their wasting of Tax payer time and money on 40!!!! votes to repeal a law that not only was their very own brainchild but that even the Supreme Court has already upheld!
And now you'd like to come here and claim to be able to have a reasonable discussion while showing right off the bat that you have zero ability to do so without resorting to your Teabrain Fox Bot Snews well known bag of BS talking points and mis-direction!?
Yeah right, best of luck with this idiot!!!!
#21 Aug 5, 2013
Just make beleive none of this has happened and perhaps the fairy godmother will bring you a treat!!!
"Thomas Doherty, patronage czar and political enforcer for the former New York governor George Pataki, reached the breaking point last week when he read that House Republicans were preparing to “slow walk” the Senate immigration bill to death.
Doherty turned to Twitter:
If Senate Immigration bill gets ripped apart and ultimately defeated by House #GOP I’ve decided to leave my political home of 32 yrs #sad.
Doherty told me that he has
come to the conclusion that my party has elements within it that dislike homosexuals and think America is still in the 1940s. And while we talk about freedom and liberty, that liberty and freedom only seem to be acceptable for some.
Doherty, no liberal, is representative of the growing strength on the right of the view that the Republican Party has gone off the deep end.
“Their rigidity is killing them. It’s either holy purity, or you are anathema,” Tom Korologos, a premier Republican lobbyist and the ambassador to Belgium under George W. Bush, said in a phone interview.“Too many ideologues have come in. You don’t win by what they are doing.”
A number of prominent figures in the Republican Party share this harsh view. Jeb Bush warned last year that both Ronald Reagan and his own father would have a “hard time” fitting into the contemporary Republican Party, which he described as dominated by “an orthodoxy that doesn’t allow for disagreement.”
A few months ago, Bush, who is expected to run for the party’s nomination in 2016, took it up a notch. At the annual Conservative Political Action Conference in March, Bush declared:
All too often we’re associated with being anti-everything. Way too many people believe Republicans are anti-immigrant, anti-woman, anti-science, anti-gay, anti-worker, and the list goes on and on and on. Many voters are simply unwilling to choose our candidates, even though they share our core beliefs, because those voters feel unloved, unwanted and unwelcome in our party.
Two months later, Bob Dole — the Republican presidential nominee in 1996 and a 35-year veteran of the House and Senate — was asked on “Fox News Sunday”:“Could people like Bob Dole, even Ronald Reagan, make it in today’s Republican Party?”
I doubt it. Reagan wouldn’t have made it. Certainly Nixon wouldn’t have made it — because he had ideas.
Dole added,“They ought to put a sign on the national committee door that says,‘Closed for repairs.’”
As early as September 2011, Mike Lofgren, a staff member for 16 years on the Republican side of both the House and Senate Budget Committees, wrote on the liberal Web site TruthOut:
The Republican Party is becoming less and less like a traditional political party in a representative democracy and becoming more like an apocalyptic cult, or one of the intensely ideological authoritarian parties of 20th century Europe.
Bill Kristol, the editor of The Weekly Standard and one of the original architects of the bomb-throwing right, jumped ship seven months ago:
The conservative movement — a bulwark of American strength for the last several decades — is in deep disarray. Reading about some conservative organizations and Republican campaigns these days, one is reminded of Eric Hoffer’s remark,“Every great cause begins as a movement, becomes a business, and eventually degenerates into a racket.” It may be that major parts of American conservatism have become such a racket that a kind of refounding of the movement as a cause is necessary."
#22 Aug 5, 2013
And let's shatter some more BS talking points while we're at it so you "smart a s a coffee table" jugheads can see it.
"Republican policymakers have an extremely narrow policy agenda: cut spending. Every speech, every press release, every op-ed, and every interview features identical talking points about the "explosion of out-of-control government spending" in the Obama era, which GOP officials are desperate to address.
There's the rhetoric and then there's the reality.
"Matt Yglesias flagged this chart showing the trajectory of total government spending at the federal level, and I added a nice, big arrow to point to the Obama-era spending (the gray areas reflect recessions). Matt explained, "[T]aken as a whole, consolidated government spending -- federal, state, and local -- simply hasn't surged. You can take the beginning of the recession or the beginning of the Obama administration or whatever you like as your starting point and it still hasn't happened."
That is not, incidentally, good news. After the Great Recession, the nation needed significant public investment to create jobs and boost economic growth. With interest rates at ridiculously low levels, the responsible thing to do was borrow like crazy and spend a lot more. Additional investments would mean lower unemployment and a faster, more robust recovery.
But policy prescriptions and Keynesian economics notwithstanding, the facts are the facts: every time Republicans whine incessantly about President Obama spending like there's no tomorrow, they're simply wrong.
What's more, Bloomberg News published a fascinating item today providing some useful historical context: "Federal outlays over the past three years grew at their slowest pace since 1953-56, when Dwight D. Eisenhower was president."
"Obama Channels Eisenhower With Anemic Government Spending Growth"
Robert Reischauer, a former director of the CBO, told Bloomberg that other than the Recovery Act, which was temporary stimulus spending, discretionary spending over the last few years "has been quite modest and is scheduled to go to levels we haven't experienced in modern times."
The conservative case has it backwards. The right wants to focus on debt reduction when we should be focused on jobs, and the right believes out-of-control spending is soaring when it's actually stalled."
YEah, but but but, Faux Snews told me?!!?!?!!?!
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