Fiscal cliff: Impasse on tax rates is big hurdle

Nov 8, 2012 Full story: ChannelOne 76

House Republicans' hard line against higher tax rates for upper-income earners leaves re-elected President Barack Obama with a tough, core decision: Does he pick a fight and risk falling off a "fiscal cliff" or does he rush to compromise and risk alienating liberal Democrats? Obama has been silent since his victory speech early Wednesday morning, ... (more)

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Dr Obamad

Hanoi, Vietnam

#1 Nov 8, 2012
In Good U Trust! John Baitner;) here here n how; jump the Grand Canyuan

http://en.wikipedia.org/wiki/Grand_Canyon
;-000000000
Alternative Med4U

Hanoi, Vietnam

#2 Nov 8, 2012
Gooooose Bless Americun! bi bye John Deere!;-00
Alternative Med4U

Hanoi, Vietnam

#3 Nov 8, 2012
some of Topix classsstudent wil b ;(

“your life is great”

Since: Aug 09

you poop in clean water

#4 Nov 8, 2012
let ALL the tax cuts expire!!
Robert

Douglasville, GA

#5 Nov 8, 2012
No that is the small hurtle, the big hurtle is when the borrowing catches up with us and we go into forced austerity.

Since: Nov 08

Location hidden

#6 Nov 8, 2012
All my friends said they pulled ALL of their money out of the stock market. They said something bad was going to happen. It did. He got elected again.

“your life is great”

Since: Aug 09

you poop in clean water

#7 Nov 8, 2012
Eighthman wrote:
All my friends said they pulled ALL of their money out of the stock market. They said something bad was going to happen. It did. He got elected again.
so their plan is to destroy the economy?
good for them.

“your life is great”

Since: Aug 09

you poop in clean water

#8 Nov 8, 2012
Robert wrote:
No that is the small hurtle, the big hurtle is when the borrowing catches up with us and we go into forced austerity.
http://globalpublicsquare.blogs.cnn.com/2011/...

we owe most of it to ourselves.(it's an old article but the percentages haven't changed much)

Hong Kong:$121.9 billion (0.9 percent)
Caribbean banking centers:$148.3 (1 percent)
Taiwan:$153.4 billion (1.1 percent)
Brazil:$211.4 billion (1.5 percent)
Oil exporting countries:$229.8 billion (1.6 percent)
Mutual funds:$300.5 billion (2 percent)
Commercial banks:$301.8 billion (2.1 percent)
State, local and federal retirement funds:$320.9 billion (2.2 percent)
Money market mutual funds:$337.7 billion (2.4 percent)
United Kingdom:$346.5 billion (2.4 percent)
Private pension funds:$504.7 billion (3.5 percent)
State and local governments:$506.1 billion (3.5 percent)
Japan:$912.4 billion (6.4 percent)
U.S. households:$959.4 billion (6.6 percent)
China:$1.16 trillion (8 percent)
The U.S. Treasury:$1.63 trillion (11.3 percent)
Social Security trust fund:$2.67 trillion (19 percent)

and......

http://www.gopusa.com/theloft/2012/06/06/gues...

America keeps spending and spending and spending. The country has run up a massive amount of debt... most of it under the watch of President Barack Obama. But what we hear over and over again is that much of this debt has been backed by China.... that they exert power over us, because we owe them so much money. Think again! In reality, it is China that owes... and it owes America close to $1 trillion.

..
..
interesting stuff huh?

Since: Nov 08

Location hidden

#9 Nov 8, 2012
anneutral wrote:
<quoted text>
so their plan is to destroy the economy?
good for them.
No. It's to save their own asses.
carey529

Saint Louis, MO

#10 Nov 8, 2012
anneutral wrote:
<quoted text>
so their plan is to destroy the economy?
good for them.
yes...a dozen or so personal investors pulling out of the market is going to destroy the economy...
obviously, they've decided to finish up what obama started.

“It's Time to Defeat Terrorism ”

Since: May 11

NYC

#11 Nov 8, 2012
The defeat of the GOP has consequences. John Boehner already hinted that he will not prevent tax raising on the rich that make more than $200,000. However, this will not bring more revenues because many ‘rich’ guys will try to reduce their income to below the limit to prevent the Obama’s out of control tax. The result is similar to other socialistic regimes around the world where people reduce their effort to minimum because the communist dictator desires to take it for his interest groups. John Boehner will not stand up to Obama who wants to ‘punish the rich’ that makes $200,000 for their success. The result is the continuous sinking of America to become socialistic welfare regime for the poor and parasites that will live on Obama’s free checks rather than take any job available.
Lance Winslow

San Jose, CA

#12 Nov 8, 2012
Jeff Brightone wrote:
The defeat of the GOP has consequences. John Boehner already hinted that he will not prevent tax raising on the rich that make more than $200,000. However, this will not bring more revenues because many ‘rich’ guys will try to reduce their income to below the limit to prevent the Obama’s out of control tax. The result is similar to other socialistic regimes around the world where people reduce their effort to minimum because the communist dictator desires to take it for his interest groups. John Boehner will not stand up to Obama who wants to ‘punish the rich’ that makes $200,000 for their success. The result is the continuous sinking of America to become socialistic welfare regime for the poor and parasites that will live on Obama’s free checks rather than take any job available.
Boner simply doesn't understand that Obama won the election because the American people favor him and his policies over the Republican alternatives. He may try to leverage the House majority to get his way but his only hope is to do so without the American people knowing. If it becomes clear to the voters, the GOP is toast.
Lance Winslow

San Jose, CA

#13 Nov 8, 2012
anneutral wrote:
<quoted text>
so their plan is to destroy the economy?
good for them.
Worked up until now.
questioner

Llano, TX

#14 Nov 9, 2012
I don't have the numbers, but I doubt that Taxes can be raised enough or spending cut enough to prevent going over the fiscal cliff OR plunging the country into another downturn. It is time for Congress, the President and US the American people to come to a compromise and make the sacrifice to stop the deficits and start reducing the debt. An outiline exists, unliked by most, but it is a potential solution. It should be the starting point.
Read from the Simpson-Bowles plan:
www.fiscalcommission.gov/sites/...gov/files/....
(hopefully the link will resolve properly, if not google Bowles Simpson and you will get lots of information and opinion)

Of course we could have another (un)Civil War to resolve the political differences.

Since: Jan 11

Mount Holly, NJ

#15 Nov 9, 2012
Lance Winslow wrote:
<quoted text>Boner simply doesn't understand that Obama won the election because the American people favor him and his policies over the Republican alternatives. He may try to leverage the House majority to get his way but his only hope is to do so without the American people knowing. If it becomes clear to the voters, the GOP is toast.
Obama needs to understand he isn't a dictator and the people also voted in the House majority. Congress is a separate and EQUAL branch of government. That hard head Bolshevik has to bend.
Piggy

Ashburn, VA

#16 Nov 9, 2012
Teaman wrote:
<quoted text>
Obama needs to understand he isn't a dictator and the people also voted in the House majority. Congress is a separate and EQUAL branch of government. That hard head Bolshevik has to bend.
I have a big penis.

Come blow me Teachick.
3OHA

San Jose, CA

#17 Nov 9, 2012
Creative, producing business people should shut down. It's beyond trying to make sense to the takers, cheaters and thieves. If you make less than $45,000 a year, you can now do as well by shutting your business down. Let the Socialists feed everyone on printed money for a while and find out finally how long that will last. Shut it down. Fire the murderous females and slick dopers. Ask Obama how to run a business. Let's see if Government can force you to employ people.

Since: Jan 11

Mount Holly, NJ

#18 Nov 9, 2012
Piggy wrote:
<quoted text>
I have a big penis.
Come blow me Teachick.
You should wear a hat and cover it up.

Since: Aug 10

Buffalo, NY

#19 Nov 9, 2012
Teaman wrote:
<quoted text>
Obama needs to understand he isn't a dictator and the people also voted in the House majority. Congress is a separate and EQUAL branch of government. That hard head Bolshevik has to bend.
THe repub majority in congress only exists due to gerrymandering. The demographic shifts will make this short lived also!

Conservatives need to face reality. Tax hikes are needed along with spending cuts.

Since: Jan 11

Mount Holly, NJ

#20 Nov 9, 2012
FFS- wrote:
<quoted text>THe repub majority in congress only exists due to gerrymandering. The demographic shifts will make this short lived also!
Conservatives need to face reality. Tax hikes are needed along with spending cuts.
What spending cuts are the democrats offering? Just defense?

I read where Allen West is overcoming his gerrymandering.:-)
Republicans gerrymandering the tea party out.

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